Mike: Mike: A very difficult day for many who lost their jobs, from SUN in the morning to 3M in the afternoon. Till Wednesday……………
Today’s economic calendar showed retail sales Retail sales rose last week and consumer sentiment U.S. consumer confidence barely above record low, but there were no job reports this day. There was also Obama at G-20 summit , which should be an interesting show, since many European countries think the US is crazy to go into so much debt, while they have some spending controls. They won’t be playing nice with Obama at this summit.

Mike: The following article shows how the reported unemployment numbers are skewed to the low end, which misleads the public into thinking that the employment situation isn’t as bad as they think it is. I’ve harped on this quite a bit, so it’s good to see that some of the mainstream outlets are starting to recognize the growing problem of the unreported unemployed.

  • As a self-employed contractor, Bender is not only ineligible for unemployment benefits; she doesn’t even get counted in the government’s unemployment statistics. “It’s scary to think that I’m completely not tracked and have no access to benefits,” says Bender. “And it’s scary as hell to think that I’m at risk of falling through the cracks.”
* Larger layoff announcements and important economic reports:

Microsoft/Google/IBM and other Rumors & News

* Microsoft delivered the coup de grâce Monday to its dying Encarta encyclopedia, acknowledging what everyone else realized long ago: it just couldn’t compete with Wikipedia, a free, collaborative project that has become the leading encyclopedia on the Web.

General Economic News


9:45 AM ET
* U.S. business activity contracted in March for a sixth consecutive month, reaching the lowest level in almost three decades, as companies struggle in the second year of the recession.

The Institute for Supply Management-Chicago Inc. said today its business barometer decreased more than forecast to 31.4, the lowest since 1980, from 34.2 the prior month. Readings below 50 signal a contraction.

via ISM-Chicago Purchasers’ Index Decreases to 31.4 (Update1) – Bloomberg.com .


* U.S. consumer confidence rose slightly in March but remained near record lows as the economy remained weak and job prospects grew increasingly uncertain.

Reuters – A shopper reaches into his wallet in Burbank, California November 28, 2008. REUTERS/Fred Prouser …

The Conference Board’s sentiment index inched up to 26.0 this month from an upwardly revised 25.3 in February. The original February reading of 25 represented an all-time low for the index, which dates back to 1967.

via U.S. consumer confidence barely above record low – Yahoo! Finance.



* Home prices sank by the sharpest annual rate on record in January, and the pace continues to accelerate, but there were a handful battered metro areas where price declines slowed, according to data released Tuesday.

AP – In this Jan. 25, 2009 file photo, a price reduced placard hangs below the sale sign outside an …

The Standard & Poor’s/Case-Shiller index of home prices in 20 major cities tumbled by a record 19 percent from January 2008. It was the largest decline since the index started in 2000. The 10-city index dropped 19.4 percent, also a new record.

via US home price drops set records in Jan. – Yahoo! Finance.


* Online advertised vacancies dropped 100,000 to 3,248,000 in March, according to The Conference Board Help-Wanted Online Data Series (HWOL)(TM) released today. The March loss follows sharp drops of 507,000 in December and 506,000 in January and a very modest dip of 6,600 in February. This has resulted in a decline of over 1,120,000 advertised vacancies, or over 25 percent, in the last four months.

via The Conference Board :: The Conference Board Reports Online Job Demand Down 100,000 in March.


  • At the heart of President Obama’s approach to foreign policy has been a promise to end the “unilateral” strategies of his predecessor and heal bruised relations with America’s allies.

But as Obama makes his presidential debut on the diplomatic stage at the Group of 20 summit in London this week, he faces leaders from both Europe and Asia who have rejected some of his most important proposals for rescuing the global economy, including his call for more stimulus spending.

via Obama at G-20 summit: Popular president, unpopular plan – Los Angeles Times.


  • Retail sales in the United States rose slightly in the week ending March 28, the International Council of Shopping Centers-USB reported Tuesday.

Sales were up 1.1 percent for the week but dropped 0.2 percent compared to the same week a year ago, the report said.

via Retail sales rose last week – MarketWatch .


Dana Summers - Mar 30

Dana Summers - Mar 30


Government Layoff News


  • Monday afternoon 121 members of the Santa Rosa County Education Support Staff learned they would not be returning next year as the school district continues to make cuts.

via Schools cut 121 support staff members | staff, school, teachers – Breaking News – Santa Rosa Press Gazette.


  • Akron Public Schools will eliminate 17 administrative jobs to save more than $1.6 million a year.

via Ohio.com – APS to cut 17 posts .


  • BATON ROUGE, La. (AP) — Educators laid off at a Louisiana school for juvenile delinquents criticized the job losses on Monday, telling a panel of officials the school has lost key personnel with experience handling often volatile classrooms.

via Educators laid off at La. school for delinquents – AP – NOLA.com.


  • The City School District will cut 287 jobs, including more than 251 teachers, under a $687 million budget proposed for the 2009-10 academic year.

via Rochester schools plan to drop 287 jobs | democratandchronicle.com | Democrat and Chronicle.


  • Circuit Court Clerk Pat Frank told her employees via an Internet video Monday that some of the office’s 900 employees will lose their jobs in the fiscal year that begins Oct. 1. The employees who don’t lose their jobs will have their salary cut.

via Circuit Clerk Looking At Job Cuts, Furloughs.


  • The reduction in force affects about 101 non-tenured teachers and 40 paraprofessionals in North Chicago School District 187, said Superintendent Lauri Hakanen.

via North Chicago to cut 101 teaching positions :: News Sun :: News.


  • Ten Maumee City Schools employees have been notified that their jobs are ending.

toledoblade.com — .


  • The Tulare County Board of Supervisors voted unanimously on Tuesday to lay off employees to cut spending.

US and some Canada Layoff News


sun11* Sun Microsystems is laying off about 1,500 employees this week in a follow-up to a restructuring plan announced a few months ago, the company confirmed Monday.

via Sun Confirms 1500 Jobs Cut This Week – Business Center – PC World.


cardinal-health* NEW YORK (AP) — Cardinal Health Inc. said Tuesday its clinical and medical products unit will eliminate 1,300 jobs, with most of the cuts made over the next six months, as hospitals cut back on equipment purchases.

via The Associated Press: Cardinal Health to cut 1,300 jobs at clinical unit.


3m* 3M Co., Minnesota’s largest manufacturing company, is cutting its worldwide workforce by another 1,200 jobs, or 1.5 percent, in response to the global recession.

Fewer than half of the job cuts will be in the United States, but several hundred will be in Minnesota, Jacqueline Berry, a 3M spokeswoman, said today.

via 3M cuts another 1,200 jobs.


3m1* 3M Co. today confirmed it has laid off 1,200 employees as part of a previously announced work force reduction.

kinetic-concepts* Kinetic Concepts Inc. said Monday that the company is planning on laying off 4 percent of its work force, or 300 employees, worldwide.

via KCI will eliminate 300 positions worldwide – San Antonio Business Journal: .


  • The filing shows that Forest City slashed its full-time staff by 487, or 15%, to 2,845 from 3,332 a year ago. Forest City pared its part-time staff by 233 jobs, or 37%, to 392 as of Jan. 31 from 625 a year earlier.
  • Electronics maker Sparton Corp (SPA.N) said it plans to close its facility in London, Ontario, Canada, affecting 24 salaried and 63 hourly employees, due to underutilization caused by significantly lower customer volumes.

via UPDATE 1-Sparton to shut Ontario facility, cut jobs | Markets | Markets News | Reuters .


fla-orthopedics* Miramar-based FLA Orthopedics Inc. filed notice today with the state that it’s slashing 163 manufacturing jobs between May 29 and Sept. 30.

via Lay-offs: FLA Orthopedics Inc. to furlough 163 in Miramar — South Florida Sun-Sentinel.com.


  • Brush Engineered Materials Inc. said Monday it has increased the scope of job cuts it announced in February, trimming an additional 5 percent of its work force as one of several cost-cutting measures aimed at responding to global economic downturn.

via Brush Engineered Materials to cut 5% more jobs – Business – cleveland.com.


chrysler2* Chrysler’s financial arm said Tuesday it is eliminating 80 jobs as the parent company attempts to cut costs and restructure to stave off bankruptcy.

  • Dyax Corp (DYAX.O) said it cut 60 jobs, effective immediately, to focus on the commercialization of its lead product candidate, and would take a charge of about $2 million in the first quarter.

via UPDATE 1-Dyax cuts 60 jobs; sees Q1 charge | Industries | Healthcare | Reuters .


cessna* Cessna Aircraft Co. announced Tuesday it will be laying off more employees, according to KAKE TV.

Bob Stangarone, vice president of communications with Cessna, says the layoffs will be companywide and affect all pay categories.

The number of layoffs will be announced next month, following the first-quarter report from Cessna’s parent company, Textron Inc. The company has already laid off 4,600 workers, including 4,000 in Wichita.

via Cessna to lay off more workers – Wichita Business Journal: .


newspaper46* The Florida Communications Group Monday laid off 53 employees and eliminated 12 open positions due to continuing declines in the local advertising market, executives said.

via Media General Lays Off 53 Today In Tampa Offices.


newspaper47* According to the website for the Charlottesville based newspaper, six jobs were eliminated, four in the newsroom and two in advertising.

tv1* Seattle’s KING 5 TV laid off about 15 people Monday, a few weeks after its corporate parent announced that it would reduce its workforce to cut costs.

via KING 5 TV lays off 5 percent of workers – Puget Sound Business Journal (Seattle): .


hospital7* One of this areas largest hospitals is being affected by the worsening economy. Maury Regional Medical Center will lay off a small number of employees and freeze salaries to help cope with the downturn in the economy.

via WDXE Radio – Lawrenceburg, TN.


  • Bonfils Blood Center announced Monday it eliminated 44 jobs and closed two of seven donor centers in the Denver Metro Area because of the economic downturn.

via Bonfils cuts 10% of staff, closes donor centers : Breaking News : ColoradoDaily.com Boulder, CO.


  • Western Forest Products has unexpectedly cancelled its harvesting contract with Port Hardy’s largest logging company, putting 30 workers out of work and raising questions about the future of logging on northern Vancouver Island.

via Cancelled logging contract costs 30 Port Hardy jobs .


  • An already decimated workforce in Greene County took another hit, when EcoQuest International laid off more than 60 employees.

via EcoQuest Sold: More Than 60 People Laid Off | TriCities.


  • Since mid-March, another 50 hourly workers have been put on temporary layoff, bringing the total to about 360 or just over 10 per cent of Essar Algoma’s usual 3,500-member workforce. The last pink slips were handed out last week, said spokesperson Brenda Stenta.

via Essar lays off another 50 workers – The Sault Star – Ontario, CA .


  • GE Solar, a branch of the General Electric Company, has announced the layoff of the second and third production shifts as well as some engineering staff at the its Newark, Delaware manufacturing site. About 86 employees were released, down from 200 total workers.

via 86 laid off by GE Solar in Delaware facility – Photovoltaics International.


  • Sixty-three Austin-area employees will lose their jobs starting in May as homebuilder TOUSA Inc., which filed for bankruptcy last year, winds down its operations nationwide, citing the “severe” economic environment.

via Florida builder cuts jobs as it seeks buyer for Texas operations.


hilton-hotels* Hilton Hotels Corp. is cutting an undisclosed number of jobs at its Memphis headquarters as part of a companywide “transformation.”

via Coffee Break: Hilton is cutting jobs in Memphis : Employment : Memphis Commercial Appeal.


a-air1* American Airlines’ regional affiliate American Eagle will be laying off 75 pilots, said Andrea Huguely, a spokeswoman for AMR Corp., the parent company of American.

via American Eagle to cut 75 pilot jobs – Dallas Business Journal: .


  • Quidel Corp (QDEL.O), which provides rapid diagnostic tests, said it would cut about 10 percent of its workforce from all areas of business to reduce costs and take a restructuring charge in the first quarter.

via UPDATE 1-Quidel to cut 10 pct jobs, sees Q1 charge | Reuters .


  • LAKE CITY — Lake City business leaders are hearing indications that Federal Mogul, a major employer in the city with about 350 workers, has begun layoffs and is continuing with its workforce adjustments.

The automotive parts supply company is not releasing information and calls to its Southfield, Mich., headquarters were not returned.

via Postbulletin.com: Rochester, MN.


  • Canaccord said it will shed 75 broker positions in the coming months out of a combined 375 across the country.

via Canaccord to cut 20 pct of brokers in Canada | Industries | Financial Services & Real Estate | Reuters .


  • The Flushing, New York-based company, attributing the new cost-cutting measure to the weakened global shipping industry, announced that it would slash its workforce to 52, along with a proposed 33% reduction in annualized office rent expense. Pursuant to cost saving initiative affecting 23 employees, the company expects about 27% reduction in annualized personnel expenses.

via RTTNews – Latest Earnings,Upcoming Earnings, Pos Pre Announcements,PreAnnouncements,Surprises …. .


  • The move will affect 38 employees, according to the company, which cited the ongoing recession as the primary reason for the closing.

via Florence plant closing today | clarionledger.com | The Clarion-Ledger.


gavel33* In a second round of layoffs since December, Reed Smith is letting go 26 attorneys and 74 staff members in its United States and United Kingdom offices due to a slowdown in its transactional practices.

via Reed Smith Cuts 100 Lawyers & Staff | ABA Journal – Law News Now.


wausau* The latest machine closure, expected to take place by May 31, will lower the company’s specialty products segment’s annual production capacity by 28,000 tons, or 10 percent, and impact 96 jobs, Wausau said.

via UPDATE 1-Wausau Paper to close paper machine in Maine, cut jobs | Markets | Bonds News | Reuters .


alcoa2* MASSENA — Alcoa announced today that the company will cut about 170 jobs from its East Plant here, formerly the Reynolds plant.

via Watertown Daily Times | Alcoa announces 170 job cuts at Massena plant.


vassar* Vassar will reduce its workforce by 3 percent, through an unspecified number of job cuts, buyouts and attrition, and will suspend faculty searches and contracts for adjunct instructors, Catharine Hill, the president of the school, said yesterday in a letter to alumni. The school raised tuition and fees 4.5 percent, to $51,470, and will increase financial aid, Hill said.

via Vassar Will Raise Tuition, Cut Jobs After Endowment Falls 21% – Bloomberg.com .


  • We’ve confirmed that hi5, the third largest social network in the world, is laying off employees today. hi5’s VP of Marketing, Mike Trigg, wouldn’t say how many employees were being let go but we’ve received multiple independent tips that the social network laid off 50% of its staff.

International Layoff News


commerzbank* Commerzbank AG, Germany’s second- biggest bank, reached an agreement with labor representatives on plans to eliminate 2,200 head office jobs in Frankfurt as part of the integration with Dresdner Bank.

kpn* Dutch computer services firm Getronics, part of telecoms company Royal KPN, said Tuesday it plans to cut around 1,400 jobs – 10 percent of its work force – to save money and adapt to weak market conditions.

via Dutch KPN to cut 1,400 jobs at Getronics unit – Forbes.com.


sandvik* Engineering group Sandvik AB on Tuesday said it was slashing 490 jobs in Sweden because of weak demand for its products.

via Sandvik engineering group cuts 490 jobs – Forbes.com.


  • British rail network services company Jarvis Plc (JRVS.L) said operating results for its year to end-March would be below previous management expectations and it was to cut 450 jobs, but net debt will be lower
  • PROGRAMMED Group says it has noticed reduced demand for its maintenance services in some sectors, and has made some staff in the Workforce and SWG divisions redundant.

via Programmed Maintenance Services restructures, cuts staff in SWG and Workforce .


  • British radio maker Sepura Plc (SEPU.L) said on Tuesday it would cut 45 jobs in a restructuring to cut costs and take a related charge of 1.3 million pounds that would hurt its full-year results.

via UPDATE 1-Sepura to cut 45 jobs, sees FY results in line | Industries | Consumer Goods & Retail | Reuters .


  • Cedyna Financial Corp., a credit card unit of Sumitomo Mitsui Financial Group Inc. that’s starting business tomorrow, plans to cut jobs and close data processing centers as consumer spending falls.
  • ABOUT 25 people are to lose their call centre jobs at a leading Peterborough-based travel firm.

via Thomas Cook to cut 25 temporary call centre jobs – Peterborough Today .


  • UK dairy company Yeo Valley has confirmed that 103 jobs will be cut across three locations as it seeks to adjust to the downturn in the market and bids to remain competitive.

via UK: Yeo Valley Cuts 103 Jobs due to Dairy Market Downturn – Food Industry News .


  • NAIROBI, March 31 (Reuters) – Kenya’s leading brewery, East African Breweries (EABL1.NR), said on Tuesday it will cut an unspecified number of jobs due to rising costs and lower sales.

via Kenya’s East African Breweries to cut jobs | Industries | Consumer Goods & Retail | Reuters .


  • 240 jobs are to go in Co. Wicklow, it emerged this afternoon, as veterinary product company Schering-Plough announced the closure of its plant in Bray.

via 240 jobs to be cut at Bray plant – Ireland, Breaking News – Belfasttelegraph.co.uk.


  • C&D Foods has announced 29 redundancies at its Edgeworthstown plant where it employs a total workforce of 312.

via RTÉ News: 29 jobs to go at petfood plant.


riotinto1* Mining giant Rio Tinto has confirmed it will shed 70 jobs from its coal division as part of a global organisational review to slash 14,000 jobs worldwide.

Hiring News and News You Can Use


  • LaBarge Products Inc. is hiring 48 new employees to work on a new $27 million military contract to build combat system repair equipment.

via LaBarge Products adds 48 jobs – St. Louis Business Journal: .


  • A nearly 800 wind turbine project planned for Garfield and Columbia counties would create about 75 permanent positions and hundreds of construction jobs, some of which may seep into neighboring counties like Benton and Franklin.

via Wind turbine project brings jobs to region – Mid-Columbia News | Tri-City Herald : Mid-Columbia news .


  • A ribbon-cutting on the future of the Capital Region was held Monday. It was all about Nano-Fab East, a new $150 million building at the NanoTech Complex near Washington Avenue Extension and Fuller Road in Albany.

via WTEN: Albany, New York News, Weather, Sports – NanoTech investment promises 600 new jobs.


  • Officials here Monday hailed Disney’s decision to move its cruise ship Disney Wonder’s home port to Los Angeles, saying that such move would create thousands of jobs and generate millions of U.S. dollars in tax revenue at a time of economic hardship.

via Disney cruise ship to bring jobs, visitors to Los Angeles area_English_Xinhua .


  • As the White House questions the viability of GM (NYSE:GM) and Chrysler, Smith Electric Vehicles is getting ready to build a new truck assembly plant in Kansas City that will produce zero-emission commercial trucks by the third quarter of this year.

via Baltimore Renewable Energy Examiner: New Electric Truck Plant to create 120 jobs.


  • EDMUNDSTON, N.B. — The New Brunswick government says it will provide forgivable loans to Primus Telecommunications Canada for each of the 113 new jobs to be created at an expanded customer contact centre in Edmundston, N.B.

via The Canadian Press: N.B. to provide loans to Primus Canada for 113 new jobs at contact centre.


  • Uncle Sam wants you, to apply for a government job.

It’s estimated that by 2016, 40% of all current federal employees will retire, creating a huge shortage.

Plus, the economic stimulus package passed by the federal government is expected to create 120,000 more jobs in just three years.

via Federal Government Needs Job Applicants – WABI TV5.


  • GENESEE COUNTY, Michigan — Hundreds of people still are needed for local 2010 Census jobs.

via Genesee County Census jobs still available – Flint News – The Latest News, Blogs, Photos & Videos – MLive.com .


* GM, which is trying to regain consumers’ trust as it works with the government to avoid bankruptcy, calls its program Total Confidence. Through April 30, GM will offer to make as many as nine car payments of as much as $500 for car purchasers in the event they are laid off within the first two years of buying the car. It will also offer to cover any underwater portion on a financed vehicle that is later traded in for another GM vehicle.

Ford’s plan, Ford Advantage, will cover up to 12 months’ worth of payments in the event of unemployment. The maximum payment it will cover is $700 per month, and it’s valid on all purchases through June 1.

via GM, Ford roll out incentives for unemployed – Los Angeles Times.


  • The nation’s largest drugstore chain, Walgreens, and its Take Care Health Systems launched an initiative to offer free health care services to all of its current and future patients who lose their jobs after Tuesday and have no health insurance.

Mike: A very difficult day for many who lost their jobs, from SUN to 3M. With all that bad news, let me end the day with a laugh. Till Wednesday……………

Michael Ramirez - Mar 30

Michael Ramirez - Mar 30


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