Mike: Good day. The layoff announcements continued overnight as NEC announced plans to layoff 20,000 worldwide


Mike: I’m sure most of you are aware of Internet scams promising wealth and riches beyond your wildest dreams, but as the economy continues to falter these scams will likely get more elaborate. I receive about 10 emails a day from various countries telling me I have won thier lottery or that they need me to act as an intermediary between them and a bank, of which I receive a large commission for my help. They are entertaining to read, but many desperate and often foolish people will believe and try anything to get a chance at riches:


Cybercriminals have launched a massive new wave of Internet-based schemes to steal personal data and carry out financial scams in an effort to take advantage of the fear and confusion created by tumbling financial markets, security specialists say.

The schemes – often involving online promotions touting fake computer virus protection, get-rich scams and funny or lurid videos – already were rising last fall when financial markets took a dive. With consumers around the world panicking, the number of scams on the Web soared.

The number of malicious programs circulating on the Internet tripled to more than 31,000 a day in mid-September, coinciding with the sudden collapse of the U.S. financial sector, according to Panda Security, an Internet security firm.

via Cyberscams rise as financial markets tumble | PoughkeepsieJournal.com | Poughkeepsie Journal.




Microsoft/Google/IBM/Verizon and other News & Rumors


* Despite a 15 percent increase in revenues in Q4, talk around the water coolers at Verizon has been on company plans to implement job cuts at the end of March. Details of how many jobs will be cut and what divisions will take the hits are unclear, but rank-and-file employees are convinced that downsizing is coming once again.


* A week ago, Microsoft announced its first companywide layoff, letting go 1,400 people as part of a plan to cut up to 5,000 jobs in the next 18 months. But the company made clear it would continue hiring, perhaps 2,000 to 3,000 people, in strategically important areas. And judging by its U.S. online jobs site, it intends to. A search of the site for positions in Washington state brought back 72 openings posted since Jan. 22, the day the layoffs were announced.

via Microsoft Pri0 | Microsoft has posted 72 job openings in Washington since layoffs announced | Seattle Times Newspaper Blog.


* WICCOPEE – The secrecy IBM Corp. has practiced about its latest job cuts – which continued to hit Dutchess County’s two plants Wednesday and may have totaled up to 900 people – has been brought to an end with a new law.

IBM made its first filing under the new New York state Worker Adjustment, Retraining and Notification law, or WARN, on Wednesday. But it covered only a part of the overall “resource actions” that were launched by IBM beginning Tuesday.

via New law forces IBM to reveal job cuts | PoughkeepsieJournal.com | Poughkeepsie Journal.


* When Gerard Baker starts his new job as The Wall Street Journal’s new deputy editor in chief next Wednesday, he’ll have a lot of names to learn. But not quite as many as if he’d started sooner.

According to multiple sources within and close to the Journal, the newsroom is due to undergo another round of personnel cuts late next week. It’s unclear exactly how many employees will be affected, but two sources put the number of people being targeted at 50.

via Cuts Coming Next Week at ‘The Wall Street Journal’ — Seeking Alpha.


* Many tech companies are using the global recession as a handy excuse to cut staff, according to Andy Woyzbun of Info-Tech Research Group. Also, SAP says Canadian operation affected by 3,000 worldwide retrenchments

IBM’s Markham, Ontario headquarters and it software laboratory in Toronto are the likely prime targets of world-wide workforce reductions now underway at Big Blue, according to a Canadian technology industry analyst.

via Markham, TO lab likely targets of IBM layoffs says analyst > Servers and Mainframes.


* BOSTON (MarketWatch) — Morgan Stanley and Goldman Sachs Group Inc. are reportedly considering more job cuts as the once-mighty investment banks adapt to much leaner times on Wall Street.



General Economic News


Obama Lashes Out At Wall St.



Mike: Today’s economic reports (Bloomberg.com: Economic Calendar) include the following:  The GDP and NAPM numbers are more closely tied to employment conditions. If GDP is shrinking then there is less output, if NAPM remians below 50, that indicates contraction in manufacturing.

8:30 AM ET
* WASHINGTON (AP) — The economy shrank at a 3.8 percent pace at the end of 2008, the worst showing in a quarter-century, as the deepening recession forced consumers and businesses to throttle back spending.



Although the initial result was better than economists expected, the figure is likely to be revised even lower in the months ahead and some believe the economy is contracting in the current quarter at an even faster pace.

via Economy shrinks at 3.8 percent pace at end of 2008: Financial News – Yahoo! Finance.


* Highlights

Wage inflation is not a concern. The fourth-quarter employee cost index rose only 0.5 percent vs. three prior quarters of 0.7 percent increases. The year-on-year rate of 2.6 percent is the lowest on record (1982). Increases in both wages and benefits were mild at 0.4 percent and 0.5 percent. Manufacturing jobs showed especially low rates of increase which is no surprise given the severity of contraction in the sector. Attention is not on wage pressures but on jobs and on the depth of the recession.

Bloomberg.com: Economic Calendar.


9:45 AM ET
* Highlights

The Chicago purchasers report offers an early view of economic conditions in January — and the results point to continuing contraction at a severe rate. The headline index fell nearly 2 points to 33.3 with order readings showing continuing and severe month-to-month contraction.  Bloomberg.com: Economic Calendar.


* Highlights

Economic readings are beginning to flatten, that is are pointing at severe but non-accelerating rates of contraction. The Reuters/University of Michigan consumer sentiment index was little changed in January at severely depressed levels, at 61.2 vs. a mid-month reading of 61.9 and a December reading of 60.1. Bloomberg.com: Economic Calendar.


* WASHINGTON (AP) — They call it “stimulus” legislation, but the economic measures racing through Congress would devote tens of billions of dollars to causes that have little to do with jolting the country out of recession.

There’s $345 million for Agriculture Department computers, $650 million for TV converter boxes, $15 billion for college scholarships — worthy, perhaps, but not likely to put many Americans back to work quickly.

Yes, there are many billions of dollars in “ready-to-go” job-creating projects in President Barack Obama’s economic stimulus bill. But there are also plenty of items that are just unfinished business for Congress’ old bulls.

via The Associated Press: Analysis: Stimulus bill that’s not all stimulating.


rob-rogers-jan-301Rob Rogers  – Jan 30


Municipal News


nyc* NEW YORK (REUTERS) — New York City dwellers will have to cope with billions of dollars more in spending cuts and thousands of city workers could lose their jobs, under a plan the mayor is due to unveil Friday, according to a source familiar with the proposal.

More than 23,000 city workers might lose their jobs through layoffs or attrition unless Mayor Michael Bloomberg convinces the state and U.S. governments and the city’s approximately 300,000 workers to let him curb benefits, from Medicaid to pensions, said the source, who requested anonymity.

via NYC: 23,000 city jobs in danger of being cut – Jan. 29, 2009 .


* VIERA — Job layoffs “are going to be a real possibility” across Brevard County’s work force of about 2,900 employees, interim County Manager Stockton Whitten warned today.

Like local governments across Florida, the Brevard County Commission faces a fiscal dilemma: millions of dollars in decreasing revenues, coupled with increasing expenses.

via Brevard County government warns of layoffs | floridatoday.com | FLORIDA TODAY.


* VISTA — The city of Vista issued layoff notices to 14 workers on Wednesday, including fire and building inspectors, as it struggles to close a projected budget shortfall of more than $6 million over the next two years.

via City cuts 14 jobs in budget trimming.


* The board voted to reduce the certified staff, like bus drivers and cafeteria workers, by approximately 160 to 180 support personnel. Approximately 140 to 150 teachers from the staff will also be cut.

via Baldwin County Schools Cut 300 Jobs – Financial Crisis Job Cuts Baldwin County Schools Baldwin County School Cuts – WKRG.com.


* SACRAMENTO, CA – The city of Sacramento could shed as many as 500 jobs and slash city programs and services to help fill a projected $50 million budget gap in the next fiscal year, city officials said Thursday.

via Sacramento May Cut 500 City Jobs | News10.net | Sacramento, California | News .


* A dozen people will finish their last day as Butler County Job and Family Services employees today, the latest layoffs as state and federal social-service cuts dig into local budgets.

via Last day for 12 Butler Co. workers | Cincinnati Enquirer | Cincinnati.Com.


* Plummeting revenues due to the construction slowdown will lead to layoff notices for eight Yuba County employees and the deletion of 12 vacant positions.



US and some Canada News –


manitowoc* Diversified U.S. industrial manufacturer Manitowoc Co Inc (MTW.N) said it was cutting about 2,100 jobs, or 22 percent of the workforce at its crane segment, due to a shrinking backlog, a day after the company posted a fourth-quarter loss.

genvecGenVec Inc. is the latest in a string of biotech companies to cut staff in order to slim down expenses during this harrowing economy.

The Gaithersburg company said it’s laid off 22 people, nearly 18 percent of its staff, to make its cash last for up to 18 to 24 months. The move, effective immediately, will lower GenVec’s head count to 101 people. The company will pay $260,000 in severance costs this quarter before it starts seeing savings in its operating budget.

via GenVec lays off 22 people – Washington Business Journal: .

More than a dozen employees at Bentler have told Newschannel 3 that 60 to 65 employees are to be laid off on Thursday and Friday.

via Employees say more layoffs coming | people, home, coming – Top Stories – WWMT NEWSCHANNEL 3.

Electro Scientific Inc. said this afternoon that it will reduce its work force by 12 percent during the current quarter in the face of a huge decline in sales…………

ESI employed about 700 people before its latest layoffs, roughly half of them at its headquarters just west of Portland. It wasn’t immediately clear how many of the latest cuts will be in Oregon.

via Facing sales decline, ESI plans layoffs – OregonLive.com.


* MILLVILLE — Silverton Marine Corp. advised the state it will layoff 202 employees between Friday and the end of March.

* FORT MYERS: Sources inside the Chico’s confirmed the news of almost 200 job cuts Thursday afternoon.

A company public relations spokesperson based in New York said she could not comment, but said they would release information “sometime soon.”

The layoffs are company-wide and span all levels of employment.

via NBC2 News – Chico’s cuts about 200 jobs.

* Carris Reels in Rutland is scaling back its work force.

Carris Reels makes industrial spools and packaging for the wire and cable industries. Channel 3 News has learned it laid off 27 employees.

via WCAX.COM Local Vermont News, Weather and Sports-Layoffs at Carris Reels.

* The Financial Planning Association will announce on Monday details of layoffs among the organization’s 79-member staff, according to Marvin Tuttle Jr., the executive director.

via FPA to announce staff layoffs – InvestmentNews .

eddie-bauer* Struggling retailer Eddie Bauer said today it has eliminated 193 jobs, including 71 at its downtown Bellevue headquarters.

via Retail Report | Eddie Bauer cutting jobs in Bellevue | Seattle Times Newspaper.


* CLAREMORE – Only a month after Burgess Norton Manufacturing confirmed layoffs at the Claremore plant, company officials announced Tuesday that the plant would cease operations entirely in the coming months.

via Tulsa World: Claremore manufacturing plant to close .

seirra-wirelessSierra Wireless Inc. said Thursday it plans to cut 56 jobs, or 10 percent of its staff, as the maker of modems and software looks to cut costs amid uncertain demand for its products.

via Sierra Wireless to cut 56 jobs, 10 pct of staff – Forbes.com.

* A major employer in the Upper Valley has laid off about 50 employees.

The Thermadyne Corporation in Lebanon, N.H., manufactures Thermal Dynamics plasma cutting equipment. It says in January it let go of 50 salaried and hourly employees. Company officials say the cuts are a direct result of the decreasing worldwide steel market.

via WCAX.COM Local Vermont News, Weather and Sports-Thermadyne Cuts Jobs.

chartered-semi* Chartered Semiconductor (CHRT), a contract chip maker, said it is reducing its workforce by another 600 people, or about 8% of its staff, in response to the rapid erosion of semiconductor demand. That brings the company’s total workforce reduction since Q3 2008 to 1,300 people, or about 18% of its staff.

via Tech Trader Daily – Barron’s Online : Chartered Semi To Cut Another 600 Jobs; Slashes Cap Ex.

Rexnord LLC said Thursday that it cut 100 jobs in the Milwaukee area this week, 75 of them at its Falk subsidiary in Milwaukee’s Menomonee Valley.

Milwaukee-based Rexnord had about 1,300 employees in the Milwaukee area prior to the cuts, including about 700 at Falk, which manufactures industrial-size gears.

via Rexnord cuts 100 local jobs – The Business Journal of Milwaukee: .

wesco* Electrical construction products distributor Wesco International Inc (WCC.N) posted better-than-expected quarterly earnings and said it would reduce its workforce by another 5 percent in the first quarter, sending its shares up as much as 7 percent.

via UPDATE 2-Wesco posts lower Q4 profit, to cut more jobs | Industries | Autos & Transport | Reuters .

* A company that’s been in business since before the 1900s began will close its plant in Roanoke.

Becky Reynolds, the Human Resources Director with Fred Whitaker tells WSLS that the company will close its plant on March 31st.  All 136 people who work at the company will lose their jobs.

via Fred Whitaker closing Roanoke plant after 100+ years in business | WSLS 10.

* Allied Waste Seattle, one of the Puget Sound’s largest trash collection and recycling companies, has informed the state it plans to lay off 203 people.

Dalton-based Shaw Industries will close a yarn plant in Milledgeville next month resulting in 150 job cuts.

via The Daily Citizen, Dalton, GA – BREAKING NEWS: Shaw closing Milledgeville plant.


* A Boston-based international law firm is laying off 10 percent of its staff because of the economic situation.

In an internal memo, Ropes & Gray’s chairman, R. Bradford Malt, announces the 106 staff layoffs, reports Above the Law. No attorney layoffs were made, and no further layoffs of either lawyers or staff are expected, he says.

via Ropes & Gray Lays Off 106 Staff | ABA Journal – Law News Now.


*A TRW Automotive spokesman said about 60 employees at the company’s Winona facility will be without jobs by mid-May, as part of a larger reduction announced last year. Officials at RiverSide Electronics in Lewiston, Minn., also announced a “workforce reduction” Thursday.

RiverSide officials did not immediately say how many people would lose their jobs, but an employee said the company laid off 18 workers.

via Area companies announce more lay offs : La Crosse Tribune.


Santee Print Works, located at 19 Progress Street, announced dozens of layoffs to their employees on Thursday.

“These layoffs are in response to the current economic situation and a decline in our business,” said Hope Broadway, human resources manager. “We had to lay off a significant number of employees in order to get through existing economic conditions and we are hoping for a quick economic turnaround, so that our business gets better.”

via The Item – South Carolina.


* The world financial crisis is cutting deeper into the workforce at Atlas Copco.

General manager Jeff Hagar said 13 employees were laid off Thursday.

via Atlas Copco cuts another 13 jobs – The North Bay Nugget – Ontario, CA .


dana* Dana Corp. will close its McKenzie plant within six months, leaving 108 people unemployed.

The plant, which makes engine gaskets and air ducts for the automotive, heavy truck and agriculture industries, has been in Carroll County for nearly 22 years and is expected to close by the end of July, company spokesman Chuck Hartlage said.

via Dana will lay off 50 in Humboldt | jacksonsun.com | .


* NEW YORK, Jan 29 (Reuters) – Charles Schwab Corp (SCHW.O), the No. 1 U.S. online broker, warned on Thursday that revenues could drop as much as 20 percent this year and said it will cut between 500 and 600 jobs in the current quarter as it copes with low interest rates and a falling stock market.

via UPDATE 3-Schwab to chop up to 600 jobs, sees revenue drop | Global Industries | Reuters .


* Teradyne Inc. of North Reading is cutting 532 of its 3,800 employees worldwide, and imposing a 10 percent pay cut on the rest. Teradyne employs 1,055 people in Massachusetts, but the company did not say how many local workers will be cut.

via Teradyne will shed 532 jobs and cut workers’ pay – The Boston Globe.


* Oshkosh Corp. laid off almost 1,000 employees, cut costs by another $50 million and will need amendments to its loan terms after executives reported a $20.6 million first quarter loss.

via Oshkosh Corp. lays off 25 in Oshkosh and Appleton after posting first quarter losses | thenorthwestern.com | Oshkosh Northwestern.


* 3M said last month it would cut at least 2,300 jobs, or about 3% of its work force. It announced 1,800 cuts in one week, saying it was urging some workers to take time off without pay or to take December vacation time. The next week it said it would cut an additional 500 jobs, and possibly more by the end of 2008. The company had already announced 1,000 layoffs in the third quarter.

via 3M 4Q Net Falls 37% On Charge, Lower Margins; ’09 View Cut.


* Broadcom Corp. had a net loss of  $159 million for the quarter ending Dec. 31, the Irvine chipmaking company said today, adding it will freeze salaries and reduce its workforce by 3% in expectation of falling sales for the first quarter of 2009.

Chief Executive Scott McGregor said about 200 jobs — 3% of employees — will be eliminated at locations around the world.

via Broadcom to cut 200 workers on $159 million quarterly loss – OC Business News – OCRegister.com.

The Charlotte Chamber has eliminated three positions as part of a broader effort to cut costs.

via Charlotte Chamber cuts jobs, expenses – Charlotte Business Journal: .


Cessna Aircraft Co. announced more layoffs Thursday, including an additional 120 at its production facility at Bend Municipal Airport.

via Cessna cuts 120 more jobs in Bend | Bend Oregon Local News | Local & State News  | The Bulletin .


* Two St. Cloud companies announced more layoffs Thursday as businesses adjust to the recession.

Electrolux will lay off up to 327 employees, according to an announcement Thursday.

via Electrolux to lay off more | sctimes.com | St. Cloud Times.


kyocera* Kyocera will cut 250 jobs from its San Diego mobile phone division as part of a restructuring linked to its acquisition of Sanyo’s cell phone division last year.

via Kyocera to lay off 250 in S.D. cell division.


* Albemarle Corp., which reported a 14 percent slide in sales and a 77 percent drop in quarterly profits this week, plans to cut its Baton Rouge work force by 50 people, chiefly through severance packages to employees who were eligible for retirement or willing to accept buyout offers, the company said.

via 2theadvocate.com | News | 50 face layoffs at BR offices — Baton Rouge, LA.


Five hourly workers at Knauf Insulation in Lanett will lose their jobs, starting today.

By March, nearly 30 employees – approximately 23 hourly workers and eight salaried personnel – will be unemployed as the Lanett plant downsizes production.

via More layoffs for Lanett, Chambers County as Knauf Insulation downsizes production | Opelika-Auburn News.


* Blue Bird Corporation confirmed it laid off some workers at its Fort Valley plant on Thursday.

Spokesman Mike McCurdy said those laid off include administrators and contract employees, but he would not say how many.

via Blue Bird Confirms Layoffs | 13wmaz.com | 13WMAZ.


Clearfield Hospital announced that it is reducing its workforce by 33 employees as a result of the difficult economic environment.


* The slumping economy has taken a toll on “more” area workers.

WBKO has confirmed 192 employees of Sumitomo Electric Wiring Systems Incorporated in south central Kentucky will be laid off by the end of next week.

via Sumitomo Announces Lay-Offs .


* BALTIMORE (AP) — Less than three years after its launch as the city’s second daily newspaper, The Baltimore Examiner is shutting down, a victim of slower-than-expected ad sales.

Employees of the free tabloid were informed of the closure Thursday morning. The Examiner will publish its last issue on Sunday, Feb. 15. About 90 people will lose their jobs, said Jim Monaghan, a spokesman for Clarity Media Group, the paper’s Denver-based parent company.

via The Associated Press: Baltimore Examiner closing after Feb. 15 editions.


* DANBURY — Cartus, one of the city’s largest employers, announced Thursday it laid off 74 people.

The company released a one-paragraph statement about the layoffs, which took place in its offices throughout the U.S.

via Danbury-based Cartus lays off 74 employees – NewsTimes.com.


* A Listowel parts-plant has been affected by the cut in production at the Honda Canada operation in Alliston.

Listowel Technology Limited announced this morning that 35 associates were being laid off permanently.

via News – CKNX Radio AM920.


Hickory – About 230 employees at CommScope plants in Catawba and Iredell counties will lose their jobs by mid-year.

via CommScope cuts 230 jobs.


* Baldwinsville, New York (WSYR-TV) – Several employees at the Budweiser plant in Baldwinsville tell NewsChannel 9 at least 15 employees have been laid off there. 


* Many auto suppliers are following GM’s lead and scaling down production. The Dextech plant in Dexter is the latest to announce layoffs. It will let 25 employees go on February sixth.

via WLNS TV 6 Lansing Jackson Michigan News and Weather – WLNS.COM | Dextech Cutting Jobs.

* Law firm Fish & Richardson P.C. has laid off 30 support staff across its eight U.S. offices, the firm confirmed Thursday.

via Fish & Richardson cutting 30 staffers – Boston Business Journal: .


* Supervalu announced a staff reduction of approximately 90 positions at its corporate headquarters locations, including approximately 25 positions in Boise.

via Supervalu to cut about 25 Boise jobs | News Updates | Idaho Statesman .


cat1* PEORIA, Ill. (AP) — Caterpillar Inc. on Friday announced 2,110 new job cuts as the heavy equipment maker scales back production to match falling demand.

The cuts at three Illinois plants — in Aurora, Decatur and East Peoria — come after the company announced other work force and cost-cutting actions earlier this week.

via Caterpillar to cut another 2,110 production jobs – Yahoo! Finance.


fl-smidthFL Smidth Inc. cut 115 people from its Bethlehem location Thursday, after announcing last week the company would cut its global workforce by six percent.

via Engineering company FL Smidth cuts 115 people from Bethlehem location – News, Weather, Sports & Entertainment for Bethlehem, Saucon Valley, Lehigh County & more – lehighvalleylive.com.

* CUBA CITY, Wis. — A company that manufactures fiberglass components for wind turbines laid off 61 full-time employees this week, shutting down operations. The office does remain open, manned by a skeleton staff.

David Lisle, president and CEO of Wausaukee Composites, personally announced the job cuts to company employees. The layoffs were effective Tuesday, and Lisle emphasized the company plans to reopen the plant.

via TH – Top News Article.


Ashland’s Wellborn Cabinet Inc. announced today it is laying off 203 workers, the company’s third workforce reduction in the last year.

via Wellborn lays off 203 workers | AnnistonStar.com.

commscopeCable maker CommScope laid off 230 people at its Catawba and Statesville plants this week, citing reduced demand for its products.

The Catawba plant, in operation since the mid-1960s, took the bulk of the layoffs — 210. Before the cuts, that plant had 830 employees, Statesville 150.

via CommScope lays off 230 | CharlotteObserver.com.

T3 and Springbox, two Austin-based creative agencies, have made job cuts amid a tougher business climate.

T3, one of the largest independent agencies in the country, said it had small staff cuts this week as a result of clients scaling back their advertising efforts this year. According to industry blogs, the agency is believed to have cut more than 20 employees, but a spokesperson for T3 would not confirm that number. The Austin and San Francisco offices were affected by the layoffs, according to sources.

via T3 and Springbox cut jobs – Austin Business Journal: .

dow* MIDLAND, Mich. (AP) — Dow Chemical Co. said Friday it would cut between 400 to 500 jobs near its Midland, Mich., headquarters as part of a previously announced global layoff plan.

via Dow Chemical to cut 400-500 Mich. jobs – Yahoo! Finance.

delta-dental* RANCHO CORDOVA, CA – Seventy employees at the Delta Dental office in Rancho Cordova learned Friday morning they will be laid off.

via Delta Dental Announces Local Layoffs | News10.net | Sacramento, California | Money .

* Fenwick & West LLP cut loose nearly 40 staff Thursday and froze salaries of its associates, another indication that law firms are starting to feel the effects of the sour economy.

via Fenwick cuts 36 staff, freezes associate salaries – Silicon Valley / San Jose Business Journal: .

* LOS ANGELES (AP) — Newspaper publisher A.H. Belo Corp. says it will lay off 500 workers, or about 14 percent of its work force, to cope with declining revenue.

via The Associated Press: A.H. Belo to lay off 500 workers, 14 percent cut.


* CAPITAL REGION — A new state law that spurred the dissolution of several self-insured group trusts has prompted their third-party administrator of workers’ compensation coverage in Latham to layoff 57 jobs in New York and Vermont.

via First Cardinal to cut 45 jobs in Latham.

* A. H. Belo Corporation, which owns The Dallas Morning News and three other daily newspapers, announced Friday it would cut approximately 500 jobs, or more than 14 percent of its workforce, in response to continued revenue declines.

via Dallas Morning News parent A.H. Belo to cut about 500 jobs | News for Dallas, Texas | Dallas Morning News | Dallas Business News .

The Pep Boys — Manny, Moe & Jack said Friday that it will cut 50 jobs and make other moves as it strives to reduce costs by $20 million this year.

via Pep Boys cutting 50 jobs, could cut 401(k) matches – Philadelphia Business Journal: .

* Chemicals maker Ferro Corp. on Friday said it will lower its quarterly dividend and expects to report a fourth-quarter loss and reduced 2009 outlook, driven by a sharp decline in customer demand across multiple segments.

via Ferro lowers 4Q estimates, dividend, ’09 outlook – Forbes.com.

* PORTLAND, Maine (AP) Standard Insurance Co. says it is closing its South Portland office and laying off most of its 134 employees.

The company announced Friday that risk management and customer service operations performed in South Portland are being moved to corporate headquarters in Portland, Ore.

via wbztv.com – Maine Wire .

* Shaw Industries has announced plans to shut down its carpet manufacturing operations in Milledgeville. The company said in a statement Tuesday that 150 employees will lose their jobs. Shaw said plant operations will cease in mid-February. Al Scruggs, a company spokesman, blames the closing on a severe downturn in economic conditions, especially the housing industry.

via LOCAL BRIEFS | ajc.com.

* ROANOKE — An industrial textile dye company has announced it will lay off its 136 employees and close at the end of March.

Fred Whitaker Co. officials made the announcement Wednesday.

via FRED WHITAKER CO.: 136 to lose jobs as Va. company closes | delmarvanow.com | The Daily Times.

* Electro Scientific Industries Inc., which makes laser equipment used in electronics manufacturing, announced lower third-quarter revenue than anticipated and said it would lay off another 12 percent of its employees in the current quarter.

via ESI reports loss, plans layoffs – Portland Business Journal: .


* Another round of layoff notices have hit employees at Fort Erie Race Track.

The notices were mailed out Tuesday, with 48 of them going to staff in the mutual tellers’ department and four to the security department.

via NiagaraThisWeek.com: News: Communities: Fort Erie: Story: More layoffs at Fort Erie Race Track.


* CRANSTON – Today was a sad day for WJAR-TV NBC Channel 10, because 10 “highly valued” employees were laid off due to economic conditions, according to Lisa G. Churchville, the station’s president and general manager. More local layoffs are expected in March.

via After parent’s losses, WJAR lays off 10 – PBN.com – Providence Business News.


* COLEBROOKDALE — Officials at the Cabot Supermetals plant on County Line Road today announced that the firm is closing the metal powder facility at the plant. Officials confirmed the layoff of 25 percent of the local Cabot work force  — a total of 32 workers.

via Cabot to close part of Boyertown plant – The Mercury News: Pottstown, PA and The Tri County areas of Montgomery, Berks and Chester Counties (pottsmerc.com).

* An Ohio power company says it might close a Belmont County plant instead of installing pollution controls costing $330 million.

Closing the R.E. Burger plant would eliminate as many as 105 jobs.

via The Columbus Dispatch : Instead of cleaning up, coal plant might close .


* PASADENA – Caltech announced Friday it will lay off 100 employees due to economic concerns stemming from its endowment and alumni contributions.

The university will also freeze hiring for some unfilled positions, although it will continue to hire faculty, albeit at a reduced rate, school officials said.

via Caltech to lay off 100 – Pasadena Star-News.

THQ has laid off 100 employees as a result of a decision to focus its wireless division on making games for smart phones.

via THQ lays off 100, focuses wireless games on smart phones only » VentureBeat.

* TULSA, Okla. (AP) – Nordam Group Inc., an aerospace manufacture and repair company, has laid off 87 more workers.

Company executives cited the downturn in the business jet market while announcing the latest layoffs on Friday. In the last three months, Nordam has laid off 211 people, or 11.5% of its work force in Tulsa.

via 87 more laid off from Nordam Group in Tulsa.


  International News

nec* TOKYO (AP) — Japanese electronics giant NEC Corp. said it will cut 20,000 workers worldwide as it tries to stanch widening losses from semiconductors and other businesses that have been hard hit by competition and the global economic slump.

The company hopes the job cuts, which will be split equally between Japan and overseas, will help save 80 billion yen over the next two years.

via NEC’s loss widens, plans to cut 20,000 workers: Financial News – Yahoo! Finance.


hitachi* TOKYO (AFP)–Japan’s Hitachi Ltd. (HIT) said Friday it would cut up to 7,000 jobs in its struggling auto equipment and electronics divisions as it forecast a net loss for the current financial year.

* Barge operator Kirby Corp (KEX.N) said on Thursday it will cut jobs and reduce its fleet size as it seeks to reduce costs to counter slackening demand, a day after it posted weak fourth-quarter results.

via UPDATE 1-Kirby to cut jobs, fleet size | Industries | Industrials, Materials & Utilities | Reuters .

* LONDON (Reuters) – E.ON plans to cut 450 jobs in the UK and close a call centre in Scotland, the German energy group said on Thursday.

via E.ON to cut 450 jobs in UK and close call centre | UK | Reuters .


* TOKYO (AP) — The pain of Japan’s recession is spreading from the factory floor to the living room, as December figures showed companies slashed output at a record pace, the jobless rate surged and household spending fell sharply.

Industrial production at the nation’s manufacturers plunged 9.6 percent in November, the largest drop since Tokyo began measuring such data in 1953, the government said Friday. A survey predicted further declines of 9.1 percent in January and 4.7 percent in February.

via The Associated Press: Japan factory output plunges, jobless rate jumps.


* JOHANNESBURG -(Dow Jones)- The South African unit of Volkswagen AG (VOW.XE) Friday said it is cutting 400 jobs and scaling back production due to a fall in demand.

via Volkswagen To Cut 400 Jobs, Suspend Output In South Africa – EasyBourse actualité.


* French-Belgian bank Dexia on Friday said it lost around 2.3 billion euros ($3 billion) in the fourth-quarter and plans to cut 900 jobs in 2009 as part of a major reorganization.

via Dexia faces $3 billion loss, plans 900 job cuts – MarketWatch .


* Hundreds of fresh job losses, many of which are in Coventry, have been announced by power firm E.ON.

Unison said 450 jobs will go from the company’s retail, energy and business services departments and will be spread across the UK

via Birmingham Post – Business – Business News – Other UK business news – Jobs blow for Coventry as E.ON axes 450 across UK.


* The Grupo Nación, publishers of the daily La Nación, Al Día, La Teja and Vuelta en U, yesterday announced an austerity plan that will see the layoff of some 100 people in various departments, including magazines like SOSHO, Perfil and radio programs like Los 40 Principales and Bésame.

via Costa Rica’s Daily News.


* OZ Minerals has slashed an extra 441 jobs at its Australian operations as it battles slumping metal prices and frozen credit markets to stay afloat.

via Oz Minerals cuts another 441 jobs | The Australian.


* Olswang today added to a gloomy month for Britain’s top law firms by announcing that it will cut up to eight per cent of its UK head count.

via Olswang to cut 8% of UK staff – Times Online .


* Jan 30 (Reuters) – British telecommunications service provider KCom Group Plc (KCOM.L) plans to cut 150 more jobs at its Integration & Managed Services business amid falling revenue, but said its nine-month profit rose from last year as overall trading improved.

– Hiring News


* BREMERTON, Wash. – A long line of people queued up in the fog before dawn Friday for a chance at one of 700 job openings at Puget Sound Naval Shipyard.

All were hoping for better times ahead, as the economic meltdown grips the nation and forces many local companies to lay off employees.

via Naval shipyard job fair draws a crowd | KOMO News – Seattle, Washington | Local & Regional .


Dilbert - Jan 29

Dilbert - Jan 29



A Milledgeville plant that laid off more than 700 people last year says they’re all coming back to work.

The laid-off workers are scheduled to return to the Rheem Manufacturing plant on Feb. 16, according to a statement from human resources manager John Anthony.

via Rheem Rehiring 700 | 13wmaz.com | 13WMAZ.


* A Wells Fargo & Co. spokesman has confirmed the company has hired a third party in the Birmingham area to help hire temporary workers and sources familiar with the situation say the jobs could add up to 1,000.


Mike: Today’s job loss was not as bad as the rest of the week was. At some point the job loss news has to improve and let’s hopeit’s soon. Also, if you know of any job loss announcements or rumors of pending layoffs  that I may have missed, post them in the comments section or send me an email. Your privacy will be respected.


With Super Bowl weekend upon us, let’s end the week with a little entertainment:



 Jerry Holbert - Jan 30

Jerry Holbert - Jan 30



[vodpod id=ExternalVideo.777268&w=425&h=350&fv=autoPlay%3Dfalse]

more about “The Word – The Audacity of Nope | Jan…“, posted with vodpod



The Clash – Rock The Casbah







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