Mike: Hello to all and thanks for visiting the new home of The Layoff List. WordPress is giving me some trouble this Sunday, so updates may be delayed.
Mike: Credit card legislative actions are long overdue, but NY Senator Charles Schumer has an odd way of describing the relationship between the so called “credit card crisis” and student loans, especially since loans through Sallie Mae are more burdensome than any credit card bill. I’ll have more on that in another post:
Citing “new and improved” statistical models, scientists at CDC have increased by 16,000 deaths — from 20,000 to 36,000 — the average number of people who die from influenza and respiratory syncytial virus (RSV) per year.
– WASHINGTON – Scores more schools shut down around the country because of the swine flu virus at week’s end and Education Secretary Arne Duncan offered tips to teachers and students on how to deal with classroom interruptions.
- New York City plans 13,500 job cuts
- NASA to begin layoffs as shuttle retirement nears
- Consumer sentiment soars as confidence returns
- Factory orders drop 0.9 percent in March
- Sovereign Bank To Cut 950 Jobs Immediately
- Tenneco Inc. to lay off 201 workers in Owen Sound, Ont., for up to 11 weeks
- Callaway Golf lays off 185,
- WSU budget plan includes 370 job cuts
- Microsoft/Google/IBM and other Rumors/News
General Economic News
Government Layoff News
US and some Canada Layoff News
International Layoff News
Hiring News and News You Can Use
- The Wall Street Journal reports as fact, not as “according to sources,” that Microsoft has a multimedia touchscreen phone code-named Pink. Microsoft and Verizon, the Journal says, plan to launch the phone and an app store early next year specifically as an iPhone competitor.
- He wouldn’t specify how many people were let go, or where the layoffs were occurring.
- An IBM Corp. nationwide downsizing Thursday that cut about 245 jobs left 11 more people soon-to-be jobless at the company’s East Fishkill plant.
Mike: If you are looking for a site that brings you the best in economic reports and analysis, I highly recommend that you frequently visit http://www.calculatedriskblog.com/ . As an example of the fine work done there, take a look at the following post relating to April’s economic condition:
– Here is a collection of real estate and economic graphs for data released in April …
Mike: The below story made me chuckle, since it brought back memories of a time at Radio Shack a number of years ago. Better finish my story…….. I bought a set of car speakers and spent the day hooking them up only to find out that one of them crackled loudly. I remember when I opened the box that the speakers weren’t wrapped in plastic, but the plastic was in the box. That was odd, but no big deal at the time. I removed the speakers and brought them back to Radio Shack for a return. I was questioned like a criminal, but I finally received a new set of speakers. I walked out the door, but I realized I had to ask the guy a question about the speakers. I went back into the store and the same guy is putting the same speakers back on the shelf! I told him that the speakers were not working properly and why was he putting them back on the shelf. It struck me that the speakers I had originally purchased weren’t wrapped and were likely brought back by another customer! He was somewhat flustered and took them off the shelf without much of an attempt at explanation. I told him he had wasted my time and he was about to waste another person’s time by reselling the same damaged speakers. That day I stopped shopping at Radio Shack and I don’t think I have bought one item there in over 20 years. Buyer beware.
– Amazingly enough, however, Wal-Mart soon caved after learning that the same box of rocks had been previously returned by another disgruntled customer. How exactly it made it back onto store shelves remains a mystery, but for her troubles, Wykle was given a full refund and a $20 gift card. via Florida teen finds rocks in Nintendo DS box - plugged in – Yahoo! Games.
– The Reuters/University of Michigan Surveys of Consumers said its final index of confidence climbed to 65.1 in April from 57.3 in March. That was the highest since September 2008 and the biggest one-month increase since October 2006.
– The Tempe, Ariz.-based Institute for Supply Management said its manufacturing index rose to a reading of 40.1 in April from 36.3 in March. A reading below 50 indicates manufacturing activity is shrinking.
Economists had forecast a reading of 38.4, according to consensus estimates gathered by Briefing.com.
“The decline in the manufacturing sector continues to moderate,” said Norbert Ore, chair of the ISM’s survey committee, in a statement. “This is definitely a good start for the second quarter.”
– The Commerce Department’s reported decrease exceeded the 0.6 percent fall that economists had predicted. Shipments of manufactured products tumbled 1.2 percent, an eighth consecutive decline. It marked the longest such stretch of declines on records dating to 1992.
American manufacturers have been battered by the prolonged recession in the United States and by spreading weakness overseas that has sharply reduced their foreign sales.
Adding to the picture of weakness in March, the government report Friday sharply revised the February increase, to show a smaller 0.7 percent rise rather than the 1.8 percent gain originally reported.
– Sales at U.S. automaker Ford Motor Co (NYSE:F – News) slid almost 32 percent last month, while sales General Motors Corp (NYSE:GM – News), which like Chrysler has been operating under federal supervision, fell 34 percent.
-NEW YORK, April 30 (Reuters) – New York City’s workforce will shrink by 13,500 people and their unions will be asked to accept higher health care costs and lower pension benefits for new hires, under Mayor Michael Bloomberg’s new budget plan, administration officials said on Thursday.
- May 1 (Bloomberg) — New York Mayor Michael Bloomberg proposed a 0.5 percentage-point sales tax increase and elimination of 13,500 jobs to close a $4 billion spending gap he forecast in next year’s $59.4 billion budget.
The spending plan for the 2010 fiscal year that begins July 1 would reduce the city’s 300,000-worker payroll 4.5 percent and require 3,750 layoffs, sparing only the city’s uniformed services and teachers.
- The first 160 layoff notices go out on Friday, primarily to contractors producing the space shuttle fuel tanks outside New Orleans and the shuttle solid rocket boosters in Utah.
- The space agency issued 160 layoff notices today for manufacturing jobs that are no longer required to support the last eight missions slated to launch between now and the December 2010 deadline to mothball NASA’s three aging space shuttles.
“This is the first significant loss of manufacturing capability,” John Shannon, NASA’s shuttle program manager, told reporters late Thursday.
– Governor Deval Patrick’s administration yesterday laid off 49 managers and clerical workers from state transportation agencies, the first wave in a plan to cut 750 government jobs and slash spending in response to plunging tax revenues.
– Nine Revere police officers, all patrolmen, and one who is fighting the war in Iraq, have been laid off this month from their jobs at the department, bringing the top-heavy department to a contingent of 86 officers.
– The Hoquiam School Board authorized layoff notices to the equivalent of 10.6 teachers Wednesday night in its first crack at dealing with a higher-than-expected $1.3 million revenue shortfall to its current $20 million operating budget.
via The Daily World.
– STOCKTON – City Hall will issue layoff notices today to about 55 police officers and 35 civilian employees to shed costs, officials said Thursday, after Stockton and its police union ended labor talks without a deal.
– Contracts for more than 300 Paradise Valley Unified School District teachers have not been renewed for next school year,
-According to Megan MacPherson, communications manager, the layoffs began Thursday morning and will continue throughout next week. As of Friday morning, the number of city employees dismissed was unknown.
– SEQUIM — The number of laid-off teachers in the Sequim School District has been reduced to a handful, thanks to smaller-than-expected cuts in the district’s budget for the 2009-2010 school year.
Mike: While I understand completely the frustration that Chrysler’s bankruptcy is causing many communities, the problem didn’t start last week, last month or last year; the auto companies have been riding down the road to destruction for decades. Nothing short of a complete government takeover would have kept Chrysler alive in its current form and it would have cost billions more to keep them in a dysfunctional state of quarterly losses and diminished output. At least now Chrysler has a chance to become a better company under the guidance of Fiat. As with most issues, those most affected don’t want to see the oncoming destruction until it’s too late to make much of a difference. The auto companies history warned us of an impending economic tsunami, but we only react after it has hit shore and it’s too late to change the outcome.
- Kenosha Ald. Patrick Juliana, whose district includes the Chrysler plant on the city’s west side, was furious.
“We were sold out by the Obama administration and the people that he appointed to negotiate this for us,” Juliana said. The administration, he said, “couldn’t negotiate a milk contract with second-graders.”
- The 2.3 million-square-foot St. Louis North Assembly Plant in Fenton, Mo., makes the Dodge Ram and employs about 1,200 people. Also closing will be the Sterling Heights, Mich., plant and the Conner Avenue plant in Detroit, along with the Twinsburg, Ohio, parts stamping plant and the Kenosha, Wis., engine plant.
- Documents filed Friday in the automaker’s bankruptcy case show the Twinsburg plant is one of five more plants scheduled to close by the end of 2010.
The Twinsburg stamping plant has about 1,200 workers.
- Local companies which supply parts exclusively to Chrysler’s Windsor Assembly Plant ceased production Friday morning, throwing hundreds of employees out of work for up to nine weeks.
The companies affected immediately by Chrysler’s decision to shut down most manufacturing operations during the bankruptcy process include Dakkota Integrated Systems, Oakley Sub-Assembly, HBPO Canada and TRW Automotive.
- TORONTO (AP) — Chrysler Canada’s southern Ontario assembly plants have halted production indefinitely while its parent company restructures under bankruptcy protection in the United States.
The company announced in a statement Friday that production operations at its assembly plants in Windsor and Brampton were canceled until further notice. Those two plants employ 7,000 people.
- DETROIT — Chrysler Financial is no longer offering auto loans as dealers begin shifting to a new loan provider as part of Chrysler LLC’s bankruptcy process.
Dealers who were briefed by Chrysler Financial said the lender halted consumer loans as GMAC LLC, the finance arm affiliated with General Motors Corp., begins e-mailing applications to dealers.
– The struggling automotive market claims another local supplier plant with 150 stateline workers losing their jobs.
Gates Corporation will be shutting the doors permanently at its Rockford plant on Sandy Hollow road. A spokesman for the Denver based company says that the closing is expected to be complete by the fourth quarter of 2010.
– PORTLAND (AP) — Cessna Aircraft Co. plans to close a plant in Bend that it bought nearly 18 months ago for $26 million, its hopes for a turnaround dashed as buyers canceled orders and put off purchases.
– Out of 500 employees, about 150 hourly and salaried workers will be affected.
– Western Industries Engineered Products Group of Watertown will lay off 51 employees and extend the short-term voluntary layoff of four other employees.
– SPARTANBURG, S.C. — Converse College in Spartanburg County announced a reorganization plan on Thursday that includes several job cuts.
-AMES, Iowa — Iowa State University Extension announced plans Thursday to cut jobs and scale back the number of extension offices in the state.
– First National Credit Card Center, a subsidiary of First National Bank of Omaha, said Thursday it will close two metro Atlanta offices that employ 215 people.
- Up to 100 Jacksonville-area employees at Wells Fargo & Co. could lose their jobs as part of a reorganization of the company’s mortgage operations.
– Callaway Golf has laid off 185 workers in the first quarter as it cuts cost in the wake of weaker sales of golf clubs and balls. The Carlsbad company, which reported first-quarter earnings yesterday, said the job cuts occurred worldwide, but a majority of them were in Southern California. In a filing with the state, the company said it eliminated 168 jobs in Carlsbad.
- Sovereign Bank will immediately cut its workforce by 950 positions, according to a statement released this morning by Sovereign President and CEO Gabriel Jaramillo.
- Sovereign Bank announced today the immediate layoff of 950 employees – about 265 of them in Massachusetts.
Arkansas-based Baldor Electric Co. will eliminate 122 jobs at its Columbus plant by June 30, after deciding to move much of the facility’s work to other locations.
- Those cutbacks could lead to the loss of 160 jobs in the woods in Aberdeen, Raymond and Pe Ell, reported the Aberdeen Daily World.
– Jackson Mayor Jerry Ludwig confirmed Production Engineering was laying off workers, though he did not know how many. Jarrett Hall, an employee, told WLNS in Lansing there would be 50 layoffs.
– She said Severstal Wheeling is at a very low level of operations now, so the work force is being studied among measures to align operations “with a very poor order book right now.”
“So, salaried work force positions are in the mix,” she said. Kovach said the company might have more specifics early next week.
– Bottomline Inc. will be reducing its workforce by 40 employees, the company revealed in a filing with the Securities and Exchange Commission.
– OWEN SOUND, Ont. — Over half of the workers at Tenneco Automotive Inc. in Owen Sound, Ont., are being laid off as of today.
-The Montana State University Foundation laid off three of its 33 employees this week, in the wake of the stock market’s collapse and the national recession that have cut into its income from fundraising and investments.
– PIKEVILLE, Ky. — A coal company says it has idled six mining operations in Kentucky and West Virginia over the last two weeks and laid off nearly 400 workers.
The Ashland, Ky.-based Appalachian Fuels said the temporary idling was done to “evaluate when the market will improve.”
– BUTTE, Mont. (AP) One of Butte’s largest employers, MSE Technology Applications, has laid off 11 employees due to a business slowdown.
- The recession, which claimed 67 jobs at Bridgestone Firestone Off Road Tire earlier this year, has claimed 50 more.
- Hospital President and CEO Peter Jennings said a total of 11 full-time employees will be laid off, including seven management positions and four union employees.
– He confirmed Texas Petrochemicals in Port Neches released a number of salary employees on Thursday, and plans to make a large reduction in its hourly employees.
- SPOKANE, Wash. — Washington State University will cut about 370 jobs and eliminate several academic programs as part of its preliminary plan to cut $54 million from its budget.
– Hardinge President and CEO Richard Simons said 81 workers from the company’s machine operations department will begin a 10-week furlough on May 11. Other departments within the company, which now employs about 400 people, are not affected.
– At this point, about 240 hourly and salaried workers are being laid off as Mohawk Fine Papers takes over part of the operations, said Tim Needham, CEO of SMART Papers.
– The closure means 57 lost jobs for the contract workers.
– Labor conditions may even be more severe than the numbers reflect since the unemployment rate does not include those who have simply given up looking for a job, said Chiwoong Lee, an economist at Goldman Sachs in Tokyo.
“Since unemployment is a lagging indicator — it lags manufacturing capacity utilization by three months, for example — further worsening is in store as the current real economy is reflected,” Lee said in a note to clients.
– HAMBURG, April 30 (Reuters) – Hydro Aluminium, the German unit of Norwegian group Norsk Hydro (NHY.OL), may stop production at its loss-making aluminium plant at Neuss in Germany in June if talks to cut its power supply costs are unsuccessful, the company said on Thursday.
– MORE than 450 workers this Thursday afternoon left Dell for the last time as the computer giant’s shutdown of its manufacturing division in Raheen brought its first casualties.
– The majority of the company’s approximately 380 employees in Europe are likely to lose their jobs, people familiar with the matter said. The company said there would be job cuts but declined to give a figure.
– Five Pizza Hut outlets in the North are set to close with the loss of around 130 jobs.
– The plumbing and heating supplier’s cost-cutting exercise affects 133 jobs at Chorley DC and 76 at Didcot DC – where the lease expires in August this year. A further 60 permanent positions at the transport out-bases that support the two depots will also go.
– Harman technology Ltd, which owns the famous Ilford black & white film brand, is poised to cut around 80 jobs as the economic downturn hits sales.
- Johnston Press is understood to be looking to cut up to 25 editorial staff as it merges the newsrooms of its Edinburgh-based newspapers Scotsman and Scotland on Sunday.
-Estimates put the total number of job losses at between 20 and 30, but a Global Radio spokesman declined to comment on specific figur
– A trade union representative has claimed that 23 jobs are to go at Arntz Belting factory in Londonderry.
-British financial services firm Lloyds Bank Group plans to cut 305 jobs, as it combines sales forces of its life insurance and investment businesses Scottish Widows and Clerical Medical to simplify its business.
– MUMBAI: Jet Airways on Friday laid off 119 employees from its overseas base and 50 probationary cabin crew serving in the Indian skies. The fresh
round of lay-offs came after the airline announced the closure of its overseas bases in Kuala Lumpur, Bangkok, Singapore for “cost-cutting measures”.
– They are understood to be looking for 25 redundancies as the group faces a sharp downturn in advertising revenue and in circulation.
– THERE have been 191 confirmed redundancies in Ballymoney over the year to March 31 2009.
– The news that Clerical Medical, part of the Lloyds Banking Group, was cutting 305 posts, 115 of them in Clevedon, was revealed on this website on Wednesday afternoon.
– THIRTEEN PROMENS employees at Beccles could lose their jobs as the company aims to “restructure,” it was announced on Monday .
Mike: Beware of the scam, especially when times are difficult. I feel for a scam, which on the face looked truly professional, and I lost a nice chunk of change:
– Another hot scam, Rivner says: Fraudsters gain access to the names of your friends on social networking sites, like MySpace.com, and invite you to click on a hyperlink to view a funny video. Victims figure they know the sender, so they click to watch. Then their screen freezes, and they get a message telling them their video player needs upgrading.
Click to upgrade, however, and you have just accepted a Trojan horse, which follows your movements online. Through it, scammers can capture personal information, including credit card numbers, social security numbers and even online check photographs when you conduct business online.
– FRANKFORT, Ky. — Distiller Sazerac North America is considering a $22 million Kentucky expansion that would create 51 management jobs in Louisville and upgrading distillation and bottling operations in Frankfort and Owensboro, company and state officials said yesterday.
– The Lee County Office of Economic Development announced this week that the county and state have approved financial incentives for Gartner Inc. to support its expansion plans in Fort Myers, Florida. The assistance will help the company retain 346 jobs and expand its facilities to accommodate 200 new, full-time jobs over the next 5 years.
– A commercial refrigeration company is bringing 150 jobs to South Carolina’s Upstate.
– Here’s some refreshing news: instead of cutting jobs like so many other biotechs, Cambridge, MA-based Acceleron announced that it will increase its workforce by more than 50 percent this year “to support the continuing growth of its R&D and manufacturing activities.” The company says it’s “hiring staff across essentially all functions.” Acceleron has also expanded to a third lab in the Cambridge area and increased its facility space by 25 percent.
– A survey of career counselors at nearly 200 colleges and universities conducted last month found that 90 percent of the students working with their offices are interested in federal jobs or internships.
Mike: A hectic week with it ending on the Chrysler’s bankruptcy. Let’s hope the fallout from the auto industry implosion isn’t as bad as some have predicted. Auto jobs once produced stable middle class incomes that were the engine of the economy, but both union and management demanded increased compensation without a corresponding increase in product quality. The demise was decades in the making and the economy will suffer from the fallout of these lost US auto companies.
On a lighter note, I faintly remember Ricardo Moltoban doing this classic Chrysler commercial. Everyone at the time was saying “soft Corinthian leather” in a butchered Moltoban impersonation
On that note, I’m calling it a week. Thanks for dropping by and be sure to let me know if you would like any particular features added to the new location of The Layoff List………….
Tags: COBRA, cut jobs, economic, employment, factory closing, firing, hiring, IBM, job loss, jobs cut, laid off, layoffs, plant closing, positions eliminated, redundancies, staff cuts, unemployment, workforce reduction