Mike: A very busy day with layoff announcements arriving all day and there are still some I have missed that will have to wait until tomorrow. As a reminder, the jobs claims numbers arrive at 8:30 and they are expected to be bad. Maybe good fortune shines for a day and the losses are less than expected. We’ll know soon enough. Till tomorrow……..
Let me start with a head shaking moment about politicians using the unemployed as political fodder instead of aiming their anger at the businesses that created this nightmare of a financial crisis:
Mike: The following article shows just how disconnected some lawmakers are when it comes to the unemployed. Some of these pathetic legislators would rather stand for some bizarre principle even in the face of mounting joblessness. I don’t see these same lobby loving lawmakers demanding that farm subsidies be brought under control or that road construction funds be ended because they don’t want to observe federal demands, such as speed limits or seat belt requirements. No, these lobby loving legislative parasites demand that the unemployed suffer during a period of unemployment not seen since the Depression of the 1930s. These elected representatives seem to have no problem representing the campaign funding financial lobbies that have stiffed the taxpayer for billions, but they have a tough time supporting a few dollars extra in the pockets of the unemployed. Their motto could be “stiff the unemployed, they don’t have a lobby for us to love.

kwilson2* Republican lawmakers in the Missouri General Assembly said they’d rather turn down $133 million in federal stimulus money than expand unemployment benefits past 26 weeks and offer them to part-time workers.

“We do not think that we should be held hostage by the federal government,” said Rep. Kevin Wilson, R-District 130. “We made a commitment to not having a lasting tax on small businesses just so we can get short-term benefits.”

via Mo. lawmakers want to reject part of stimulus – St. Louis Business Journal: .

* By a vote of 83 to 72, the House voted to repeal campaign contribution limits, opening the door for special interests and certain retired billionaires with a love of educational vouchers to pour as much money into political campaigns as they can. (Mike: Mr. Wilson, quoted in the above article to limit unemployment benefits, voted to remove campaign contribution limits. I don’t think he was considering the campaign contributions he was getting from the unemployed.)

via The Turner Report: Area representatives vote to toss out campaign contriibution limits.

Mike: Mr. Wilson had no problem receiving contributions for Missouri Insurance Coalition, Missouri State Teachers Association, Freeman Physicians Group, Missouri Medical PAC, Eli Lilly and Company, Northport Health Services of Missouri LLC, or AT&T Missouri. This link is a PDF to one of his campaign contribution pages. This link is a PDF to another of his campaign contribution pages. As you can see, there are no contributions from the unemployed lobby. Mr. Wilson is also a member of a a few Chambers of Commerce, which are certainly not in favor of increased unemployment benefits. Mr. Wilson has no problem taking money from big lobbies, but has a tough time giving a few extra bucks, temporarily, to the unemployed. Mr. Wilson is not a friend of those who need it, but a friend of those who have it.

If you are interested in contacting Mr. Wilson, here is his email address: Kevin.Wilson@house.mo.gov


* Larger layoff announcements and important economic reports:

US/Canada:


International:



    

Microsoft/Google/IBM and other Rumors & News

ibm1* BOCA RATON — IBM and ADT are among many U.S. companies that have slashed payrolls to weather the global financial crisis.

But for some workers in Palm Beach County, the cuts hit home: Both companies have offices in Boca Raton that have been affected by the cutbacks.

via ADT, IBM cut 70 jobs in Boca, sources say.

apple3* Consumers may be stashing away their credit cards during this deep recession, but Apple is not changing its game plan. It announced a slew of product updates to its desktop computer line Tuesday with only modest price cuts.

General Economic News

* WASHINGTON (AP) — For key moderate Democrats in the House, giving debt-strapped homeowners the right to seek mortgage modifications in bankruptcy court had to be a last resort.

So they wrote a compromise to a housing bill that requires bankruptcy judges to consider whether banks offered homeowners reasonable loan restructuring deals before they weigh in with judicial remedies.

The new language is expected to ease the bill onto the House floor for a vote as early as Thursday.

via Democrats reach deal on mortgage relief bill: Financial News – Yahoo! Finance.

Mike: I keep wondering what these economists and analysts are smoking that makes them miss their own expectations so badly:

* NEW YORK (Reuters) – U.S. private sector job losses accelerated in February, according to a report by ADP Employer Services on Wednesday that came in worse than economists’ expectations.

ADP said private employers cut 697,000 jobs in February versus a revised 614,000 jobs lost in January. The January job cuts were originally reported at 522,000.

It was the biggest job loss since the report’s launch in 2001.

Economists had expected 610,000 private-sector job cuts in February, according to the median of 23 forecasts in a Reuters poll.

via U.S. private sector cuts 697,000 jobs in February.

* Toyota could introduce a three-day week across Europe as it reduces output but remains committed to work-sharing rather than cutting jobs.

The Japanese carmaker expects sales in Europe to fall by 30 per cent this year – a far bigger drop than predicted elsewhere – and said that it would substantially reduce output but not close facilities.

via Toyota favours three-day week over redundancies – Times Online .

Mike: I guess the news of a possible Chinese stimuls plan is good news, but what are the Chinese going to do with their stimulus package, buy American, buy European? The previous $600 billion Chinese stimulus plan must have been a failure, but this one will be better. The world markets seem in a better mood with the “hope” of a Chinese stimulus plan than with the actual American stimulus plan. Odd times.

* LONDON (AP) — Stock markets in Europe and Asia rebounded Wednesday amid mounting hopes that China will soon announce a big stimulus package that could help limit the length and depth of the recession in the industrialized world.

A legislative meeting starts Thursday in China and top of the agenda is what the government can do to lift growth rates, which have fallen in the wake of the global economic downturn. As one of the few major economies still expanding, China is being closely watched amid hopes its demand and trade can help the world weather the most severe global slowdown in decades.

via World stocks rebound on China stimulus hopes: Financial News – Yahoo! Finance.

Ben Sargent - Mar 4

Ben Sargent - Mar 4

* Seasonally adjusted unemployment rates in Central Oregon increased in January. Individual county rates ranged from 12.0 percent in Deschutes County to 14.9 percent in Crook County. The state rate also rose, from 8.3 percent to 9.9 percent.

Municipal News

* EDENTON — Twelve Chowan County workers will lose their jobs while the remaining county employees will be forced to take two days of unpaid leave a month under a budget-slashing plan approved this week by Chowan commissioners.

via Chowan cuts 12 jobs, furloughs other workers – News | DailyAdvance.com .

* ROANOKE RAPIDS — City government will reduce its workforce by 10 people, reduce part-time employee hours, trim some services and institute an unpaid furlough program for nearly every municipal worker, the changes are to offset a shortfall in revenue of more than $600,000.

via News : City cuts 10 jobs, reduces hours (Roanoke Rapids, NC).

* Child Guidance & Family Solutions of Summit County announced today that it will reduce its staff by 20 employees, close one of its seven sites and eliminate several programs due to cuts in state funding.

via Ohio.com – Agency to eliminate 20 jobs, several programs .

* YOUNGSTOWN — Mahoning County Prosecutor Paul J. Gains has laid off two part-time assistant prosecutors and a full-time clerk to achieve about $150,000 in annual savings, but he said he hasn’t considered a pay cut for all members of his staff.

via Vindy.com Local News Youngstown, Warren, Columbiana Ohio – Mahoning prosecutor lays off three workers, rejects staff pay cuts.

* FLEMING ISLAND – Less than 24 hours after the Clay County School Board cut more than 490 jobs — including 270 teaching positions — for next school year, parents and teachers began planning a rally to raise public awareness about the situation.

via Clay Today | School Board axes 270 teaching jobs .

* Freehold Township officials have announced a plan to eliminate 20 positions this year. Nine of the 20 positions to be eliminated are currently vacant or will be vacated in 2009 through retirements.

via 3 officers among layoffs | newstranscript.gmnews.com | News Transcript.

* BOLIVIA, N.C. – Brunswick County Commissioners approved budget cuts at Monday night’s meeting that included the elimination of about 20 open positions.

via News 14 | 24 Hour Local News | Coastal | Brunswick Co. leaders trim open jobs, travel .

* School trustees Thursday night unanimously approved a set of 46 budget reductions including cutting 40 classified and administrative jobs to make up for a $4.4 million shortfall expected for the 2009-10 school year.

via Loyal Subscriber Site.

* The board of trustees of the Lucia Mar Unified School District voted Tuesday night to layoff 120 teachers to help offset budget shortfalls for the next school year.

US and some Canada News

tyco1* Mike: Hat tip to reader Colette: Tyco Electronics told employees this morning of the first wave of layoffs that will eventually result in the loss of 20,000 Tyco jobs by the end of the fiscal year that ends in September. The layoffs would amount to 20 percent of the Tyco workforce.

via Tyco Electronics announces 20,000 layoffs – PennLive.com.

tyco2* Undated — The Pennsylvania-based electronic company announced this week they will cut an additional 20,000 positions worldwide.

Tyco Electronics, formerly partnered with Tyco International, plans to eliminate the jobs by the end of their fiscal year in September.

via Tyco Electronics Announces Additional 20,000 Job Cuts | digtriad.com | Triad, NC | Local and State News Article.

* SAN JUAN, Puerto Rico (AP) — More than 30,000 government employees — about 14 percent of the public work force — could lose their jobs and new taxes will be introduced as Puerto Rico attempts to shore up its ailing economy, the governor of the U.S. island territory announced Tuesday.

In a half-hour televised address, Gov. Luis Fortuno outlined a plan to cut a long-bloated work force — excluding police officers and teachers — and institute new taxes to increase revenue on the cash-strapped island, which is in its third year of recession. The layoffs will begin on July 1, the start of the new fiscal year.

via The Associated Press: PR gov: 30,000 workers could be fired amid crisis.

rheem4* Jonas Young, president of the United Steel Workers Union Local No. 9326, said the closing of the plant, which opened more than 30 years ago and employed 1,200, wasn’t entirely unexpected. As early as 2006, workers saw signs of stress: Overtime and regular hours were cut and seasonal employees were nixed, he said.

* The nation’s second-largest timber producer made the announcement late Monday. About 150 employees will be laid off as a result of the closure. Approximately 160 workers will remain employed at Sierra Pacific’s large-log facility and biomass electrical generation plant in Quincy.

via SPI to shutter Quincy small-log mill; 150 jobs cut : Latest News : Redding Record Searchlight.

chrysler* Chrysler is cutting a shift, and 1,200 jobs, at its major minivan operation in Windsor.

The sputtering auto giant, which is operating on a lifeline of government loans, announced today that it will eliminate the shift in late June because of deteriorating market condition including a decline in minivans in the key U.S. market.

via TheStar.com | Business | 1,200 jobs cut at Windsor Chrysler plant .

us-steel1* U.S. Steel Corp. announced Tuesday that it would further scale back operations, affecting about 1,500 workers.

In the next month, the Pittsburgh-based company (NYSE:X) will idle its finishing and coking operations at Hamilton Works and the steelmaking and finishing operations at Lake Erie Works, both in Ontario. Coking production, the baking of coal to create the steel ingredient coke, will continue at Lake Erie Works, the company said.

via U.S. Steel to lay off 1,500 in Ontario, Canada – Dayton Business Journal: .

* To offset the downturn in sales, CEO Frank Martin said the company cut its headcount in January and slashed other annual expenses to the tune of $1 million. The size of the layoff was not disclosed. NMT had roughly 120 employees in mid 2008.

via NMT cuts costs, jobs to offset sales dip – Boston Business Journal: .

* Heil officials said Tuesday it will lay off about 80 employees this week.

According to Heil spokesperson Kristen Simpson, many of the layoffs will happen at Heil’s Fort Payne plant.

via The Times-Journal.

owens-corning* About 250 local people will be losing their jobs within the next two weeks at the Amarillo Owen’s Corning facility.

via KFDA – NewsChannel 10 / Amarillo, TX: newschannel10.com – 250 Jobs To Be Cut At Owens Corning.

white-electronic-designs* White Electronic Designs Corp. will shut down its West Side plant and lay off all 56 workers, the company said.

via The Columbus Dispatch : White Electronic Designs to close plant, lay off 56 workers.

* Parent company CTV Globemedia Inc. announced 34 layoffs at Ottawa’s “A” channel, as part of a restructuring that will see 118 jobs slashed at newsrooms across the country.

via “A” channel cuts newscast, 34 laid off – The Daily Observer – Ontario, CA .

* GRENADA, Miss. (AP) – Luvata Grenada has laid off about 100 employees.

Luvata manufactures aluminum coils to be used in cooling devices.

via WXVT-TV Delta News – More Local News and Weather WXVT.com | Grenada plant lays off more workers.

allegis-group* A financial services staffing firm has laid off 80 employees at its Hanover headquarters, part of 1,000 jobs the company cut nationwide.

Allegis Group, which recruits workers for accounting and finance, banking, human resources, and sales and marketing firms, is the latest victim of a stagnant economy, said Neil Mann, the company’s executive vice president.

via Allegis Group’s Hanover location lays off 80 • Business (www.HometownAnnapolis.com – The Capital).

utah-state-university* LOGAN, Utah (ABC 4 News) – 20 Utah State University employees got pink slips on Monday, the result of a workforce reduction announced last September to help the school meet a $6.5 million budget shortfall.

via Utah State University lays off 20 workers – ABC 4.com .

vale-inco1* The news everyone had been dreading was delivered Tuesday morning when 261 staff with Vale Inco in Sudbury were told they were being laid off.

via Vale lays off 261 in Sudbury – The Sudbury Star – Ontario, CA .

sony-pictures* Sony Pictures Entertainment, grappling with slumping DVD sales and a worsening economy, plans to cut about 300 jobs, or about 4% of its workforce, through layoffs and by eliminating open positions, according to a person familiar with the situation.

via Sony reportedly to cut about 300 jobs amid slumping DVD sales – Los Angeles Times.

comet* Comet is to close four of its 18 service centres and consolidate several of its head office roles, resulting in the loss of 280 jobs, the firm has revealed.

via Comet to cut 280 jobs | PC Retail | News by PC Retail.

* The bleeding of East Texas industrial and manufacturing jobs continued Monday with the announcement that 300 jobs with CB&I would be eliminated this year in Tyler, taking away almost half of the company’s local work force.

via Tyler Paper – Tyler Morning Telegraph.

diageo-north-america* Diageo North America, the world’s largest drinks company and one of Norwalk’s largest employers, announced on Tuesday it will cut 150 jobs in North America as part of an organizational restructuring, company officials said.

via Diageo to slash jobs in North America – Norwalk News – The Hour.

* Forty-eight people in the London area or about 35 per cent of staff were issued layoff notices yesterday.

via London Free Press – Local News- Morning show cut, 48 jobs eliminated.

* Officials with the Missouri Career Center said Tuesday that they had been told of layoffs involving 49 workers at the plant that converts animal products into oil products and fertilizer.

via The Joplin Globe, Joplin, MO – Center notified of layoffs at RES.

sears1* OSHKOSH, Wis. – The Oshkosh Sears Grand will close May 31 as one of nine stores nationwide that the retailer is shutting down.

Sears, Roebuck & Co. advised the state Department of Workforce Development that it will close the Oshkosh store, resulting in layoffs for 77 work

via Sears closing Oshkosh store, with 77 layoffs — chicagotribune.com.

* Acusphere Inc. said it plans to cut 40 jobs, two-thirds of its workforce, by April and move its headquarters from Watertown to Tewksbury. The drug development company said employees would be let go in all departments, including manufacturing, quality systems, drug development, regulatory, finance and administration.

via Acusphere cuts 40 jobs, says it will move headquarters – Daily Business Update – The Boston Globe.

* President and chief executive officer Ellen Rosenthal says the museum in Fishers has cut 19 jobs and trimmed its budget by $500,000. Six employees were laid off while 13 others left voluntarily.

via Indy’s News Center – 93.1 WIBC Indianapolis – Live. Local. First. .

firstenergy* FirstEnergy Corp. has eliminated 48 nonunion jobs in its Lehigh Valley and New Jersey divisions as part of a companywide downsizing.

via FirstEnergy to cut 48 jobs at Met-Ed and JCP& L – lehighvalleylive.com.

silicon-graphics* Silicon Graphics reported eliminating about 120 jobs, or about 9 percent of its staff, on Feb. 26. The move was part of an “ongoing effort to refine its focus, streamline its operations and reduce costs.”

via More “streamlining” at SGI eliminates 120 jobs | SiliconBeat.

* The Fresno Bee announced on Tuesday it plans to lay off nearly 25% of its newsroom employees. In an article in the paper, The Bee said that between 21 and 26 “rank-and-file” newsroom employees will be let go.

via Fresno Bee to slash jobs | KSEE 24 NEWS Central Valley’s News Station: Fresno-Visalia | Local News .

* O’Melveny & Myers LLP and Dewey & LeBoeuf LLP, two of the 20 largest U.S. law firms, said they would fire about 330 lawyers and staff as legal work remains slow because of the economy.

via Bloomberg.com: Worldwide.

hd* Home Depot Inc. is laying off nearly 200 employees at its two closing Expo Design Center stores in Maryland.

via Expo Center lays off 200 in Md. – Washington Business Journal: .

conocophillips* Some ConocoPhillips employees in Bartlesville and Ponca City received the proverbial pink slips Wednesday morning as the Houston-based energy giant started the process of cutting 4 percent of its 32,000-strong worldwide work force.

via Tulsa World: ConocoPhillips layoffs under way .

* ConMed Corp. notified the state that it would lay off 58 employees and close its Broad Street plant on Friday, May 29.

via ConMed to lay off 58 workers – Utica, NY – The Observer-Dispatch.

century-aluminum* HAWESVILLE, Ky. (AP) — A western Kentucky aluminum plant will reduce production and lay off 120 workers.

Century Aluminum of Kentucky made the announcement about its Hawesville plant Tuesday and said the changes would begin immediately.

via Western KY Aluminum Plant Lays Off 120 Workers .

International News

gm1* FRANKFURT (Reuters) – General Motors’ (GM.N) German unit Opel could slash 3,500 jobs as part of a plan to cut costs and relaunch as an independent company, GM Europe head Carl-Peter Forster told Bild newspaper.

adc-telecommunications* Network equipment maker ADC Telecommunications Inc (ADCT.O) posted better-than-expected quarterly results on savings from cost reduction initiatives and said it would cut more jobs.

via UPDATE 1-ADC Q1 beats Street; to cut 600 jobs | Reuters .

* Kloeckner & Co. SE, a German steel trader, doesn’t plan to pay a dividend for 2008 and will slash an additional 700 jobs as it seeks about 100 million euros ($125.7 million) in cost savings this year.

via Bloomberg.com: Europe.

itv* The broadcaster announced it was axing 600 jobs and making other ‘significant’ savings aimed at cutting costs — including reducing drama output from eight hours a week to seven.

pacific-brands* Pacific Brands is proposing to close its Christchurch and Palmerston North factories with the loss of 89 jobs.

Workers at both plants were told of the the company’s plans at a meeting at 2pm today.

via Pacific Brands to cut 80 jobs – the-press | Stuff.co.nz.

comverse-technology* In a new wave of layoffs, Comverse Technology Inc. (Pink Sheets: CMVT.PK) will reportedly cut about 400-500 employees from its workforce. The cuts will include workers in Israel, though it is not known yet how many Israeli employees will be cu

via Comverse to lay off hundreds.

* “Today we notified 86 of the 102 employees in the Volition quality assurance department that they will be let go. Our quality assurance will now be primarily conducted through THQ’s centralized QA facilities, with a small staff remaining on-site in Champaign.”

via EL33TONLINE: News – Redundancies at THQ’s Volition, 86 laid off .

* Clifford Chance is looking to lay off up to 115 business services staff in London after a review of its support staff needs.

via Clifford Chance to cut 115 London support staff jobs – 4 March 2009.

* Finnish engineering group Metso said in a statement it had finished a round of statutory cooperation procedure talks at its mineral processing division, adding 112 jobs would be cut in Helsinki and Tampere and up to 1,000 further workers laid off temporarily.

via Metso to cut 112 mineral processing jobs .

kpmg1* The financial and consultancy firm KPMG has confirmed plans to lay off 200 of its workers.

The firm made the announcement at a meeting with staff in the Mansion House in Dublin this morning.

via KPMG to lay off 200 staff and impose pay cuts – Business, National News – Kerryman.ie.

* Goldman Sachs JB Were, the Australian arm of investment bank Goldman Sachs (GS.N: Quote, Profile, Research), may cut up to 5 percent of its workforce this year, a source familiar with the matter said on Wednesday……….

Goldman Sachs JB Were employs about 1,300 people, of which the vast majority are in Australia. It has a small number of staff in New Zealand, the UK and the U.S.

via Goldman Australia unit may cut up to 5% jobs-source | Markets | US Markets | Reuters .

nec*TOKYO: Electronics giant NEC Corp. said Wednesday that it was closing a liquid crystal display plant and cutting 590 workers by voluntary retirement to cut costs.

via NEC closing LCD plant, reducing jobs to cut costs – International Herald Tribune.

* IKB Deutsche Industriebank AG, Germany’s first casualty of the subprime-mortgage crisis, said it will cut jobs and shrink its balance sheet as new owner Lone Star Funds seeks a return to profitability.

via Bloomberg.com: Germany.

* More than 70 jobs will be cut from the Government’s tertiary education funding body if the latest restructuring proposal goes ahead.

via Second TEC restructuring to cut 70 jobs | Stuff.co.nz.

* EIGHTEEN jobs are to go at a Derbyshire council in an effort to plug a £2m forecast budget deficit.

via redundancy|job cuts|Erewash Borough Council.

* Random House has announced plans to axe 5% of its UK workforce—an estimated 30 jobs. The cuts are to be made through a combination of redundancies and leaving existing vacancies unfilled.

via Random to cut 5% of its workforce | theBookseller.com.

* KUALA LUMPUR — Flextronics International will close its factory in Shah Alam, putting nearly 1,400 employees out of work, Reuters reported today.

via Circuits Assembly – Flextronics to Sack 1400 in Malaysia.

* In a statement on Wednesday, Novelis said the plant would shut by April end and 440 jobs would be slashed.

Hiring News

* A group of Internet-based graphic designers has launched GraphicDesignFreelanceJobs.com (http://www.graphicdesignfreelancejobs.com), a new website to help graphic designers find their next paying freelance graphic design job. GraphicDesignFreelanceJobs.com gives freelancers free access to hundreds of current freelance graphic design jobs.

* ELLENWOOD, Ga. — QuikTrip cut the ribbon Tuesday on a new bakery that will bring 227 jobs to Clayton County.

via QT Brings 227 Jobs To Clayton County – News Story – WSB Atlanta.

* The planned rebuilding of Interstate 595 is giving renewed hope to unemployed South Floridians who covet the thousands of jobs the $1.79 billion project is expected to generate.

The state expects to sign a contract with Spanish construction conglomerate ACS Infrastructure Development within the next week.

Once that happens, the frenzied task of filling jobs will begin.

Florida’s jobless rate topped 8 percent in December, the highest level in 16 years, according to the latest figures available. The biggest job losses continue to be in construction, which is why the I-595 project is so attractive to anyone who has worked in the industry – in management or operating heavy equipment.

via 35,000 South Florida jobs to be created from I-595 construction.

* For those who may have been victims of recent layoffs, FedEx Office is offering one day of free resume printing.

On March 10, the FedEx Corp. subsidiary will offer up to 25 free copies of resumes submitted and picked up inside a store for customers currently job hunting.

via FedEx Office offers free resume printing – Memphis Business Journal: .

Mike: A very busy day with layoff announcements arriving all day and there are still some I have missed that will have to wait until tomorrow. As a reminder, the jobs claims numbers arrive at 8:30 and they are expected to be bad. But let’s forget about our troubles for a few minutes with a couple laughs. Till tomorrow……….

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Mike Luckovich - Mar 3

Mike Luckovich - Mar 3

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