Mike: Today the markets are cheering the “hope” of an Obama recovery, but the job news continues to look less than hopeful. While the Obama jobs recovery plan may help some jobless find “shovel ready” work in construction fields, it’s not going to help the 55 year old who was writing code for a tech firm. The thought process may be of the trickle-up variety where those construction jobs filter their way up to create a wider variety of jobs, it still won’t end the carnage of job losses that are expected in the coming year. While any help in the job front is welcome news, a strong economy is dependent on a strong banking system and a federal government that is fiscally responsible. Right now we have neither, but there is “hope” and maybe that will sooth the wounds temporarily. Let’s see what today’s layoff announcements look like:
Dow Chemical to slash 5,000 jobs, close 20 plants
SILVER CITY, N.M. (KRQE) – A New Mexico city already hammered by the rough economy, was hit again this week when its largest employer announced massive layoffs. Copper mine to lay off 600
AT&T isn’t saying yet how many local jobs may be lost as part of a plan announced Thursday to cut about 12,000 jobs, or 4 percent of its work force.
Layoffs at the Dallas-based telecommunications giant will be “across the company and across the country,” spokesman Walt Sharp said, but he would not specify which departments and cities would be most affected. The company has about 14,400 workers in North Texas and 300,000 companywide. AT&T cutting 12,000 jobs
Long-healthy systems, like Royal Oak-based Beaumont Hospitals, are hurting. The system faces a $60-million shortfall and is postponing a big cancer radiation center, freezing jobs and asking executives to take pay cuts. Hospitals also feel fiscal pain
Cities facing painful cutbacks Across the nation, cities are making their own painful cuts to compensate for lagging revenue caused by the national recession.
In Colorado, a jump in the number of claims has the state unemployment office struggling to answer all the calls. The center receives thousands of calls a day. For now it’s only staffed to handle about half of them and it’s making it very hard for people to get through.
“Yesterday I sat on hold for almost three hours, just sitting and I have a cell phone, I don’t have a home phone, so the longer I’m on hold the more minutes it’s using,” said unemployed Sara Leahy. Unemployment Office Struggles To Keep Up
Workers laid off Friday from Republic Windows and Doors, who for years assembled vinyl windows and sliding doors here, said they would not leave, even after company officials announced that the factory was closing. In Factory Sit-In, an Anger Spread Wide
“When it comes to the situation here in Chicago with the workers who are asking for their benefits and payments they have earned, I think they are absolutely right,” Obama said Sunday at a news conference announcing his new Veterans Affairs director. “What’s happening to them is reflective of what’s happening across this economy. Obama speaks out on behalf of 250 union workers (I was glad to hear Obama mention that he supported the sit-in – Mike).
Advertising firms Interpublic Group, Omnicom Group Inc and WPP Group are weighing further job cuts as the advertising market deteriorates, the New York Post reported. Major ad firms mulling job cuts: report
Last week, Viacom, which owns MTV, Nickelodeon, BET and other cable networks, said it was cutting staff by 850 people, or 7% across all of its divisions. NBC Universal, which owns the faltering broadcaster and several strong cable networks, said it was cutting 500, or 3%. Though both companies have operational soft spots, they cited the economy as necessitating their cuts. TV Industry Job Cuts
Anheuser-Busch InBev, the world’s largest brewer, announced plans on Monday to cut 1,400 jobs in the United States, some 6 percent of the workforce there, as it sought a return on its $52 billion merger. AB InBev unveils U.S. job cuts
3M cutting 1,800 jobs in U.S. and elsewhere
According to the report, the number of layoffs is likely to be 1,500, although the eventual number could be as high as 2,000. Yahoo: Job Cuts Reportedly Coming On Wednesday
Mike: As the following article shows, you will need to be prepared for your local governments to start asking for more tax cash to fund budgets of both necessary and bloated services. Schools always ask for more cash to make sure the kids get an education, but it doesn’t matter if school budgets are increased 10% a year or decreased 10% a year, the results are always the same – lousy education, especially for those living in poor cities. When there is ever a mention of cutting services within school budgets, it’s always a discussion of cutting teachers! Never a discussion of cutting bloated admin, having workers contribute more to their historically rewarding pension and health plans, or cutting back on AstroTurf replacement. No, it’s always cutting teachers and these same school commissioners and administrators say they do everything they can for the children. If that was the case, then I would expect that school principals, which make around 150k in upstate NY, would gladly take a pay cut to help the children. That will never happen since those overpaid administrators would rather cut a teacher than their salary. The school industrial complex will continue to expand and produce an inferior product unless people get more involved and demand accountability form these school admins. Oh, and don’t forget that great tenure reward that these overpaid academics are sitting on while school budgets go up in flames.
If the tax proposal doesn’t pass, the district will have to start making cuts. (But not to bloated admin salaries, heath or pension benefits, or tenure – Mike)
The district is asking voters to approve a tax increase of 13 cents per $100 of property value. If approved, the vote would generate $248,500 needed to balance this year’s budget, Walker said. Christoval district: tax increase needed now
Serigraph Inc., West Bend, WI, $100 in million sales, will eliminate 50 jobs, a combination of early retirements and permanent layoffs. Job Cuts at Serigraph
Still, the warnings from 3M and Illinois Tool Works served as sobering counterpoints to any optimism in the manufacturing sector.
3M said on Friday it is cutting 1,800 jobs and urging some workers to take time off without pay or to take December vacation time. 3M said Monday it is planning to cut an additional 500 jobs, and possibly more by the end of the year. All told, the 2,300 job cuts – including the 1,800 announced Friday – equate to about 3% of 3M’s 75,000 employees. Warnings from 3M and Illinois Tool Works
ABX Air Inc. began another wave of more than 200 job cuts last week, ahead of DHL Express’ plans to scale down and likely end its Wilmington shipping hub operations. ABX cutting 228 more jobs in Wilmington
Corning Inc. plans to cut its work force at its Wilmington plant next month, as the company responds to a dramatic drop in sales that began in earnest in October, the company said Monday. Corning plans to cut work force
Mike: The following is a list of companies that have recently reported layoffs to the California Employment Development Department.
California’s WARN law requires certain companies with more than 75 employees to provide 60 days advance notice of a plant closing or mass layoff involving 50 or more employees. California companies planning layoffs
In a blog entry yesterday, Netflix said it is cutting 50 technical specialists early next year. Netflix said it is cutting 50 technical specialists
Two people have been let go, and more cuts are on the way at the Toledo Blade this week, according to TV reports in the Ohio city. Layoffs at Toledo Blade
Solo Cup Company today announced it has reduced its corporate workforce by approximately 9 percent. The company eliminated approximately 100 salaried positions across its corporate employee base in response to the weakening economy. Solo also released 25 contract employees. The majority of the affected employees were located in Solo’s Highland Park, Illinois, and Owings Mills, Maryland corporate offices. Layoffs at Solo Cup
NAMPA — Mercy Medical Center announced today that it is letting go nearly 10 percent of its workforce and reducing hours of other employees. Mercy Medical Center announces layoffs
The economic downturn could cause a “massive” layoff at Stoughton Trailers early next year as the company faces a rocky road in the truck trailer industry.
The company, which employs about 500, sent its possible layoff notice letter to the state Department of Workforce Development late last week. ‘Massive’ layoffs possible at Stoughton Trailers
Sotheby’s Inc. has approved a restructuring plan that will lead to salary reductions and layoffs because of poorer than expected earnings. Auction companies to implement layoffs
About 250 hourly workers—a quarter of the 1,000-member work force at the Waterford site—will be laid off starting Dec. 15. Company spokesman John Scharf said workers will be gone anywhere from three days to two weeks, depending upon what work they perform. Momentive laying off about 250 workers
The parent company of the Baltimore Sun, saddled with $13 billion in debt and a recession that has hammered newspaper advertising revenue, filed for Chapter 11 bankruptcy protection Monday. Baltimore Sun parent Tribune Co. files for bankruptcy protection
After gathering input from the state’s public school district superintendents, Education Commissioner Jon E. Draud says that a proposed four percent reduction in funds would have devastating short- and long-term effects on Kentucky’s P-12 education system. Cuts Could Devastate Ky.’s Public Education
Cox Communications said Monday it is cutting jobs in Baton Rouge as part of a companywide effort to trim its payroll by 2 percent. Cox to cut two dozen jobs
George Parker is reporting on his blog,AdScam/TheHorror that there could be massive layoffs at Ogilvy New York after the new year. Parker: “Ogilvy bloodbath in January?”
Twenty-three of the 26 Louisville Metro Council members say they and their legislative aides will participate in an employee furlough plan proposed by the administration to help offset a projected $20 million budget shortfall. Most Metro Council members agree to furlough
Because of budget shortfalls, the Boys and Girls Clubs of the Trident Area will be closing its seven sites from Dec. 12 until January and will furlough all employees at the sites. Boys and Girls Clubs to close seven sites and furlough employees
As job cuts in the automotive industry nationally occur by the thousands, hundreds of workers at Chrysler LLC’s Toledo Jeep Assembly complex and at General Motors Corp.’s Toledo Powertrain plant are being furloughed. Jeep, GM to furlough hundreds in Toledo
USM calls for institutions to prepare for furloughs
Gov. Martin O’Malley‘s decision to furlough most of the state’s work force was surely not the happiest moment of his tenure. But in a slack economy, it was probably a necessity – and it might have an upside for him politically.
Faced with a widening pothole in the state’s operating budget – and a statewide aversion to increasing taxes – Mr. O’Malley’s budget-balancing options are limited. Thus, he plans to ask 67,000 state employees to take some days off, unpaid. The numbers had “significant” and “major” and “painful” stamped all over them. Maryland furloughs
The climbing jobless rate in South Carolina is sucking the state’s unemployment fund dry.
The S.C. Employment Security Commission expects it will have to tap into a $15 million federal line of credit in order to meet unemployment obligations through the year’s end. S.C. unemployment fund sucked dry
Mike: That’s it for Monday:
Tony Auth - Dec 7
