Latest news with #CGC
Newsweek
8 hours ago
- Business
- Newsweek
US Layoffs Are Slowing, But Companies Are Staying 'Cautious' on Hiring
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Job cuts slowed significantly in June, according to a report released Wednesday, bucking the trend of mass layoffs and government-sector redundancies that has defined the first half of 2025. According to outplacement firm Challenger, Gray & Christmas (CGC), U.S.-based employers announced 47,999 job cuts last month, a 49 percent drop from the 93,816 in May. It also was 2 percent lower than the 48,786 announced the same month last year. Why It Matters The year has been marked by a surge in layoffs across the tech and retail sectors, as well as an unprecedented reduction in headcounts at government agencies driven by the Department of Government Efficiency (DOGE). While CGC's report shows that the trend may be slowing, other data released Wednesday point to sustained difficulties for the U.S. labor market. People line up as they wait for the Mega JobNewsUSA South Florida Job Fair to open at Amerant Bank Arena on April 30, 2025, in Sunrise, Florida. People line up as they wait for the Mega JobNewsUSA South Florida Job Fair to open at Amerant Bank Arena on April 30, 2025, in Sunrise, To Know According to CGC, the second quarter of 2025 saw 247,256 job cuts. Despite improvements in June, it still marks the highest total for the three-month period since 2020 at the height of the COVID-19 pandemic, when 1.2 million cuts were announced. It is also up 39 percent from the 177,391 announced in the second quarter of 2024, but less than half of the 497,052 announced last quarter. Planned layoffs have totaled 744,308 this year, the highest first-half total since 2020, and rivaling the 896,675 announced in the first half of 2009 following the financial crisis. June saw the continuation of government-sector job cuts, with 3,801 announced, up from 2,600 in May. That brings the total for the year to 288,628, many of which CGC attributes to the actions of DOGE. However, the firm noted that many remain in "legal limbo" because of court challenges to the department's cost-cutting efforts. By sector, retail has led the private sector in terms of job cuts this year at 79,865, up 255 percent from the first half of 2024. The sector has long struggled as a result of declining foot traffic and the rise of e-commerce, and has more recently grappled with inflation, tariffs and the impact of both on consumer confidence and spending. Announced planned hires dropped to 3,191 in June, CGC also found, the lowest monthly total this year and well below this year's monthly average of 13,822. CGC's analysis coincides with the release of the ADP National Employment Report, a monthly measure of changes in private-sector employment in the U.S. It showed that private payrolls dropped by 33,000 jobs in June, following a downwardly revised increase of 29,000 in May. This was far below the consensus forecast of economists, who had penciled in an increase of 95,000, and marks the first decline since March 2023. The drop was led by losses in the services sector, particularly in roles tied to professional and business services, as well as health and education. This was only partially offset by boosts to hiring on the goods-producing side. What People Are Saying Andrew Challenger, senior vice president at Challenger, Gray & Christmas: "The bulk of companies cited economic conditions last month. We saw some DOGE activity and have tracked over 2,000 jobs directly attributed to tariffs this year, but for the most part it was a quiet June. "Hiring announcements in 2025 suggest a cautious but stabilizing labor market. While companies are clearly adding workers at a higher rate than in 2024, the restraint shown relative to previous years indicates continued uncertainty around costs, automation, and the broader economic outlook. Without a strong economic driver, hiring may remain measured through the rest of the year." Dr. Nela Richardson, chief economist at ADP: "Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month." Bill Adams, chief economist for Comerica Bank, in comments shared with Newsweek: "Tariff hikes and policy uncertainty gave employers reason to be cautious toward hiring in the second quarter. The Israel-Iran war was a further reason to put hiring plans on hold in June. "Hiring will likely stay slow in the second half of 2025. Ordinarily, job growth malingering at the second-quarter's sluggish pace for half a year would translate into a meaningful increase in the unemployment rate, which would pressure the Fed to cut rates this fall." What Happens Next The next key jobs data comes on Thursday morning, when the Bureau of Labor Statistics will release its nonfarm payrolls report for June. This is following a stronger-than-expected May that saw the addition of 139,000 jobs. Analysts polled by TradingEconomics anticipate 100,000-job increase for June and for the U.S. unemployment rate to remain flat at 4.2 percent.
GMA Network
25-06-2025
- Health
- GMA Network
PhilHealth to undergo major revamp —GCG
The Governance Commission for Government-Owned or -Controlled Corporations (GCG) on Wednesday said the Philippine Health Insurance Corporation (PhilHealth) will undergo restructuring to improve its efficiency and solve operational issues. 'The restructuring includes a revamped organizational structure with 503 units and a total of 7,149 positions designed to improve service delivery and strengthen the agency's capability to fulfill its expanded mandate under the Republic Act (R.A.) No. 11223 or the 'Universal Health Care Act,' GCG said in a statement. "This major revamp aims to enhance PhilHealth's efficiency and address key operational challenges," it added. Among the issues it aimed to address are the outdated workforce, fragmented data, strategy execution, and issues related to benefit claims. CGC also identified the five critical services to be centralized: finance, legal, information technology, procurement, human resources, and general administration services. 'The centralization of these administrative functions is seen to address the inconsistencies and conflicts in the current operational framework of PhilHealth, maintain responsiveness to the public, and enhance healthcare delivery,' CGC said in a press release. To ensure checks and balances, the internal audit office of PhilHealth was also ordered to report to the Audit Committee of the Board of Directors and shall administratively report to the President and Chief Executive Officer (PCEO) of the corporation. The Benefit Payment Appeals Office (BPAO) will be established to handle appeals related to benefit claims payments. It aims to improve the handling of appeal cases and incentivize healthcare. In a separate statement, Health Secretary Teodoro Herbosa said the agency has been working with the GCG on the restructuring of PhilHealth. 'The Department of Health (DOH) has been working with the Governance Commission for GOCCs (GCG) to ensure that the organizational structure of PhilHealth is suitable for the implementation of Universal Health Care,' Herbosa said. —LDF, GMA Integrated News 'PhilHealth staff and especially the public have been waiting for this reorg for a long time. The DOH and the entire Board of Directors have paid close attention to every detail,' he added. Last year, the GCG approved a partial restructuring of PhilHealth following its initial application in 2022. To aid in the evaluation process, GCG requested that PhilHealth provide additional documentary requirements and undergo consultation from May 2023 to January 2025. - Mariel Celine Serquiña ###
Associated Press
24-06-2025
- Business
- Associated Press
Cynamics Secures FedRAMP Authorization as a Managed Service on the CGC Platform
The Cynamics AI-enabled Network Detection and Response solution enables U.S. government agencies to proactively predict threats at scale by using less than 1% of network traffic TYSONS CORNER, Va., June 24, 2025 /PRNewswire/ -- CGC , the market readiness and compliance automation affiliate of Merlin Group , announced today that Cynamics , a leading provider of AI-driven network security solutions, has achieved FedRAMP® Authorization as a managed service offering on the CGC platform. The authorization, listed in the FedRAMP Marketplace , paves the way for accelerated adoption of Cynamics' SOC AI technologies across the U.S. Government. The ability for Cynamics SOC AI technologies and its autonomous NDR capabilities to be delivered from CGC's secure cloud environment marks a critical step in improving cyber readiness for federal agencies by enabling the U.S. Government to advance anomaly detection and predictive threat intelligence with minimal network footprint. Agencies can now achieve this while also maintaining full compliance with stringent federal security requirements. 'We're thrilled to bring Cynamics' groundbreaking NDR technology to U.S. government agencies through our managed service ecosystem,' said Josh Beard, General Manager, CGC. 'This milestone demonstrates CGC's commitment to enabling best-in-class cybersecurity innovation at the speed and scale required by mission-critical federal operations.' A Game-Changer for Government Cybersecurity Cynamics offers a fundamentally different approach to network security by leveraging AI and sampling-based techniques to deliver 100% network visibility without deploying intrusive agents or expensive hardware. Government agencies now have direct access to: FedRAMP-authorized threat detection. Rapid deployment and scalability through CGC's containerized, modular cloud environment. Seamless integration with existing federal security stacks and telemetry systems. Supporting Zero Trust and Continuous Diagnostics As the federal government accelerates toward Zero Trust Architecture and continues to operationalize Continuous Diagnostics and Mitigation (CDM), Cynamics provides a proactive and scalable solution to meet these evolving mandates. 'Cynamics' FedRAMP authorization through CGC enables agencies to enhance situational awareness and threat response while maintaining compliance,' said Eyal Elyashiv, CEO, Cynamics. 'Together with CGC, we're delivering AI-based cybersecurity capabilities that are mission-ready on Day 1.' Availability Cynamics is available immediately through the CGC Marketplace at . About CGC CGC, the market readiness and compliance automation affiliate of Merlin Group , provides a platform and marketplace purpose-built to accelerate compliance and revenue for the world's most important technology companies, helping them unlock and facilitate access to highly regulated U.S. Federal, SLED, and commercial markets. This reduces complexity, time, and cost associated with compliance authorization such as FedRAMP and StateRAMP and makes fully compliant technologies accessible to enterprise end users, managed service providers and channel partners through the CGC Marketplace. Learn more at . About Cynamics Cynamics is a leading provider of AI-driven network cybersecurity solutions. The company has developed a groundbreaking SOC AI technology that equips security teams with unmatched visibility, precision, and automation—without the data and resource burdens typical of legacy systems. Utilizing a patented sampling methodology combined with advanced AI, Cynamics delivers real-time threat detection and mitigation at scale. Its innovative solution is already safeguarding critical infrastructure and Tier-1 municipalities across the United States and internationally. Learn more at . View original content to download multimedia: SOURCE Merlin Group
Yahoo
24-06-2025
- Business
- Yahoo
Cynamics Secures FedRAMP Authorization as a Managed Service on the CGC Platform
The Cynamics AI-enabled Network Detection and Response solution enables U.S. government agencies to proactively predict threats at scale by using less than 1% of network traffic TYSONS CORNER, Va., June 24, 2025 /PRNewswire/ -- CGC, the market readiness and compliance automation affiliate of Merlin Group, announced today that Cynamics, a leading provider of AI-driven network security solutions, has achieved FedRAMP® Authorization as a managed service offering on the CGC platform. The authorization, listed in the FedRAMP Marketplace, paves the way for accelerated adoption of Cynamics' SOC AI technologies across the U.S. Government. The ability for Cynamics SOC AI technologies and its autonomous NDR capabilities to be delivered from CGC's secure cloud environment marks a critical step in improving cyber readiness for federal agencies by enabling the U.S. Government to advance anomaly detection and predictive threat intelligence with minimal network footprint. Agencies can now achieve this while also maintaining full compliance with stringent federal security requirements. "We're thrilled to bring Cynamics' groundbreaking NDR technology to U.S. government agencies through our managed service ecosystem," said Josh Beard, General Manager, CGC. "This milestone demonstrates CGC's commitment to enabling best-in-class cybersecurity innovation at the speed and scale required by mission-critical federal operations." A Game-Changer for Government CybersecurityCynamics offers a fundamentally different approach to network security by leveraging AI and sampling-based techniques to deliver 100% network visibility without deploying intrusive agents or expensive hardware. Government agencies now have direct access to: FedRAMP-authorized threat detection. Rapid deployment and scalability through CGC's containerized, modular cloud environment. Seamless integration with existing federal security stacks and telemetry systems. Supporting Zero Trust and Continuous DiagnosticsAs the federal government accelerates toward Zero Trust Architecture and continues to operationalize Continuous Diagnostics and Mitigation (CDM), Cynamics provides a proactive and scalable solution to meet these evolving mandates. "Cynamics' FedRAMP authorization through CGC enables agencies to enhance situational awareness and threat response while maintaining compliance," said Eyal Elyashiv, CEO, Cynamics. "Together with CGC, we're delivering AI-based cybersecurity capabilities that are mission-ready on Day 1." AvailabilityCynamics is available immediately through the CGC Marketplace at About CGCCGC, the market readiness and compliance automation affiliate of Merlin Group, provides a platform and marketplace purpose-built to accelerate compliance and revenue for the world's most important technology companies, helping them unlock and facilitate access to highly regulated U.S. Federal, SLED, and commercial markets. This reduces complexity, time, and cost associated with compliance authorization such as FedRAMP and StateRAMP and makes fully compliant technologies accessible to enterprise end users, managed service providers and channel partners through the CGC Marketplace. Learn more at About CynamicsCynamics is a leading provider of AI-driven network cybersecurity solutions. The company has developed a groundbreaking SOC AI technology that equips security teams with unmatched visibility, precision, and automation—without the data and resource burdens typical of legacy systems. Utilizing a patented sampling methodology combined with advanced AI, Cynamics delivers real-time threat detection and mitigation at scale. Its innovative solution is already safeguarding critical infrastructure and Tier-1 municipalities across the United States and internationally. Learn more at View original content to download multimedia: SOURCE Merlin Group
Yahoo
24-06-2025
- Business
- Yahoo
CGC Announces Intent to Acquire IBP (Imperial Building Products Ltd.), Strengthening National Building Materials Supply Chain
CGC Inc., a leading manufacturer of gypsum-based building materials in Canada, has entered into a definitive agreement for the acquisition of Imperial Building Products Ltd. (IBP), a leading Canadian manufacturer of high-quality steel framing components, drywall trims, accessories, and proprietary structural solutions. IBP's five-plant network and steel framing portfolio will complement CGC's core drywall and ceiling business, delivering broader solutions for commercial and residential builders. The acquisition accelerates CGC's national growth strategy, following major investments in Little Narrows, N.S. and Wheatland County, Alta., and supports the evolving needs of the Canadian construction market. TORONTO, June 24, 2025 /CNW/ - CGC Inc. (CGC), a leading manufacturer of gypsum-based building materials in Canada, has entered into a definitive agreement for the acquisition of Imperial Building Products Ltd. (IBP), a Canadian manufacturer of high-quality steel framing components, drywall trims, accessories and proprietary structural solutions. This acquisition will mark a significant milestone in CGC's long-term strategy to invest in Canadian manufacturing, strengthen domestic supply chains and support the growing demand for housing and infrastructure across the country. Created in 1990 as a division of Imperial Manufacturing Group (IMG), IBP is based in Richibucto, N.B., and operates five manufacturing facilities in New Brunswick, Quebec, Ontario, Alberta and British Columbia. The company is recognized for its technical expertise and dependable service in residential and commercial construction across Canada. "Expanding CGC's portfolio through the acquisition of IBP is a strategic investment in the future of Canadian manufacturing and construction," said Steve Youngblut, President of CGC Inc. "This acquisition is an important step forward in our goal to provide Canadian builders with the strongest, most reliable supply chain in the industry. By bringing together CGC's expertise in wall and ceiling products with IBP's leadership in steel framing, we are better positioned to serve customers from coast to coast and support the country's housing and infrastructure priorities." This acquisition is a natural next step in CGC's long-term strategy to strengthen its core business and expand into new product categories. It accelerates CGC's national growth strategy, following major investments in Little Narrows, N.S., and Wheatland County, Alta., and supports the evolving needs of the Canadian construction market. By adding IBP's complementary portfolio and network of five plants across Canada, CGC is positioned to provide customers with an even broader suite of building solutions, better meet the evolving needs of the Canadian construction market and further support the government's housing and infrastructure goals. "We are proud to become part of the CGC family and join forces with a company that shares our commitment to Canadian manufacturing, innovation and builders," said Cesare Minchillo, current President of IBP. "This acquisition brings together two Canadian companies with complementary strengths and shared values. By working together, we will be able to enhance our product offerings, expand our reach and continue supporting Canada's builders with the highest standards of service and reliability. We look forward to the new possibilities this creates for our team and our customers across the country." Key benefits of the acquisition Strengthened national supply chain:The addition of five IBP facilities ensures greater supply reliability, flexibility and responsiveness for Canadian construction markets, helping CGC better serve customers from coast to coast. Expanded product portfolio:CGC customers gain access to IBP's steel framing, drywall trims and proprietary structural solutions, complementing CGC's leading wall and ceiling products and advancing the company's vision of being a full-service building solutions provider. Support for housing and infrastructure:The combined network and expertise will help address Canada's housing supply and affordability challenges by providing builders with timely access to essential materials and supporting important infrastructure projects nationwide. Once the acquisition process is complete, IBP will operate as a distinct business unit within CGC. There are no immediate changes expected for employees or customers, and both companies remain focused on delivering industry-leading service and solutions. The definitive agreement is for the acquisition of 100 per cent of shares of IBP. The agreement does not extend to Imperial Metal Services, Imperial Manufacturing Group or any other companies affiliated with IBP. The transaction is expected to close during Q3 of 2025 and is subject to receipt of customary regulatory approvals and satisfaction of other customary closing conditions. ABOUT CGC Inc. CGC Inc. is a leading marketer, manufacturer and distributor of gypsum wallboard products, interior finishing materials and suspended acoustical ceilings in Canada. It has mining, manufacturing and logistical operations across Canada, including Nova Scotia, Quebec, Ontario and is in the process of constructing its newest plant in Alberta. Visit the CGC Inc. website to learn more. ABOUT Imperial Building Products Imperial Building Products (IBP) is a market leader in Canadian steel stud manufacturing, serving the commercial, residential, institutional, and industrial building construction markets. It has locations in New Brunswick, Quebec, Ontario, Alberta, and British-Columbia, and is a registered member fabricator of the Canadian Sheet Steel Building Institute (CSSBI). Visit the IBP website to learn more. SOURCE CGC Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
