Mike: Good day to you all and thanks for visiting The Layoff List. I won’t be able to add any additional information to this post, since WordPress has decided it doesn’t like something about new material in this post and it keeps crashing each time I add a link. I may add a Sunday post, but there’s still plenty of news here to review.–All the latest layoff news follows, but first I’d like to ask for your help in improving this site. I recently added Google AdSense to the sidebar and each time someone clicks an AdSense ad, I get a penny or two. So if you don’t object, take a look at those ads and give them a click-through. Not only might you find some interesting sites, but you’ll be helping to offset some of the cost of keeping this site active. Thanks for any support you can offer!
There are a number of economic reports this day, including Industrial Production (U.S. industrial production falls 0.5 percent in April ) and Empire State Mfg Survey, (NY factory deterioration slows ) that will show if the green shoots theory is taking hold or if those budding blossoms of financial stability were merely a mirage in a dreary financial landscape.
Mike: Are some of you looking forward to the day you can call the Federal Reserve and ask to get free money for your outstanding obligations like the mortgage, car loan, student loan or a failed small business adventure? Or would you like to make a phone call to them and ask for some free cash because your investment portfolio took a hit last year? I know I’d like that opportunity, but alas, being a peon taxpayer doesn’t allow for those bailout opportunities, but it’s a comforting feeling knowing that my taxes are going to help failed, corrupt and mismanaged companies survive to play the game again. Just think, once these insurance companies get over the hump, they’ll raise your premiums and cancel your policies for being a day late with payment! At least there’s something to look forward to!
– LOS ANGELES (AP) — The Treasury Department has agreed to extend billions in bailout funds to six major life insurers, following a months-long quest by some in the sector for government help in shoring up capital positions in the wake of major investment losses.
The Hartford Financial Services Group Inc. was the first to disclose Thursday that it had been notified by the Treasury Department that it was eligible for $3.4 billion from the Troubled Asset Relief Program, or TARP. Lincoln National Corp., which commonly goes by the name Lincoln Financial Group, said it has been initially approved for a $2.5 billion injection from TARP’s Capital Purchase Program.
Mike: Oh, and if you want to follow some lively conversation on the following bailout scenario of YRC, a trucking company, visit Calculated Risk. Good luck to YRC and their efforts to get some bailout tax money, since the fed doesn’t likely have many ex-trucking guys working for them – as is the case for the banks and insurance companies – so they don’t have the inside connections that are needed to save their businesses.
– YRC Worldwide Inc., one of the nation’s largest trucking companies, will seek $1 billion in federal bailout money to help relieve pension obligations, the chief executive said Thursday.
Chief Executive William Zollars said the company will seek the money to help cover the cost of its estimated $2 billion pension obligation over the next four years.
via Calculated Risk.
Mike: And while the entire article about currency control is excellent to read, the quote at the end caught my attention:
How the evolution of monetarism and international trade plays out will shape the political and societal landscape of the first half of this century, and perhaps beyond.
This looks to be a classic showdown between those who issue and control the reserve currencies of the world, and those who make real products and write their nation’s laws. Or as Lord Acton put it with such great insight:
Lord Acton: “The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.”
- 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
– IBM Corp. is encouraging many of its employees to take time off at one-third pay during the summer.
The offer was made recently to some of the IBMers who work in the mid-Hudson. This program, called “Take Time,” is voluntary, a spokesman said.
– —Vidoop, a Portland, OR-based maker of online security and authentication software, laid off an unspecified number of staff members this week, according to its blog.
Consumer Price Index
8:30 AM ET
NEW YORK (CNNMoney.com) — A key index of prices paid by consumers fell at the sharpest rate since August 1955 due to historically low energy prices, the government said Friday.
The Labor Department said the Consumer Price Index declined 0.7% on an annual basis in April, only the second year-over-year decline in nearly 54 years following March’s 0.4% drop.
The New York Fed’s “Empire State” general business conditions index climbed to minus 4.55 in May — its highest since August 2008 — from minus 14.65 in April. In March, the index sagged to minus 38.23, its weakest since its launch in July 2001.
A reading below zero suggests manufacturing contraction.
9:15 AM ET
WASHINGTON (Reuters) – U.S. industrial production fell 0.5 percent in April, dropping for the sixth consecutive month but at a more modest pace than in recent months, Federal Reserve data showed on Friday.
Mike: I’m not quite sure how to interpret a report that shows the majority of consumers reporting a worsened financial situation, but feeling better about the economy? Could be those green shoots or the hope of green shoots. Time will tell……………
9:55 AM ET
NEW YORK (Reuters) – U.S. consumer confidence rose in early May to its strongest since the September failure of Lehman Brothers, with rising expectations the economy may be in the last stages of the recession, a survey showed on Friday.
Confidence remained shaky overall however, with the majority of consumers in early May reporting their financial situation had worsened due primarily to income declines, shorter work hours and lost jobs, according to the survey.
– LONDON (AP) — The economy of the 16 countries that use the euro shrank by a massive 2.5 percent in the first quarter as the recession tightened its grip all across the continent. Key export engine Germany saw output swoon.
The euro zone has now seen output decline for four consecutive quarters. After modest 0.2 percent decreases in the second and third quarters of 2008, gross domestic product declined by 1.6 percent in the fourth quarter.
Mike: For an excellent and informative recap of the Producer Price Index, please take a moment to read the following at Mish’s Global Economic Trend Analysis .
– Wholesale Prices Post Largest 12-Month Decline Since 1950
Inquiring minds are investigating the Producer Price Indexes For April 2009.
– What makes the Great Recession different from all other recent recessions is not mainly the number of workers being laid off. It’s how few workers are being hired.
-Starting Friday, the administration will send layoff notices to 5,000 state government employees, a move that is designed to cut the general work force by 5 percent but would take months to complete. Funding for health and human services and the higher education system also would be cut.
– The governor also proposed releasing 19,000 state prison inmates who are undocumented immigrants to federal authorities and releasing some low-risk criminals to county jails.
In addition, Schwarzenegger said, he will seek a waiver from Washington to allow California to cut spending without jeopardizing federal economic stimulus funds coming to the state.
Mike: It’s good to see some protest from some who are losing their jobs. This kind of action is needed by more than just the already organized school employees in order to make the entrenched and safe politicos realize that the many people are tired of a system that continually rewards the failures of the financial industry, yet punishes the people that need it most.
Around 40 teachers and union president AJ Duffy were arrested after staging a demonstration outside the Los Angeles Unified School District’s headquarters in the city’s downtown neighborhood.
“We’re being arrested to send a message to the district and the city that they have the money … parents are going to be upset when they go to school next year and classrooms are 50 and 60 kids,” Duffy said as he was led away.
– The number of workers who will be laid off within the Georgetown County School District is 22.
– CHARLOTTE COUNTY – Charlotte County Clerk of Court Barbara Scott has laid off 11 employees in an effort to meet state budget cuts. The employees were terminated May 8 with two weeks severance pay and payment for sick time and remaining vacation.
– WILMINGTON, Del. – May 15, 2009 – (WPVI) — The chief of staff to Wilmington Mayor James M. Baker told the city council public safety committee Friday that 17 police officers and eight firefighters will be laid off July 1st.
– CAMDEN, Maine — Citing financial hardship and a pressing need to restructure, the Community School last week laid off its entire teaching staff and two other employees.
The five teacher-counselors are welcome to reapply for the new positions that now are being created, said executive director Dorothy Foote, but the mass layoff was necessary given the school’s current requirement to “do more with less.”
– ORLANDO, Fla. — Orlando police officers thought they were safe from city layoffs, but 15 officers out of 700 on the force will soon be out of a job. That has some residents concerned about how the city will be able to fight crime.
– Four Hamburg Township employees have been laid off in anticipation of significantly lower tax revenues and cuts in state funding.
– The Monterey County Office of Education has warned about 300 employees that they may lose their jobs.
– WHITTIER – Even as they worked to issue layoff notices to nearly 200 Whittier-area teachers, principals and school administrators by today’s deadline, local district leaders said they still hoped to bring some of them back this fall – if the state’s grim financial picture improves.
– LAKEVILLE — For an elementary school with a staff of 70, likely to see its student body rise from 550 to 700 with the return of grade four, a reduction of 26 positions is about 37 percent of its total staff.
– Tustin Unified has released the names of 185 educators — almost all of them teachers — who will be losing their jobs as of July 1.
– The Savannah-Chatham County Public School System is dealing with a $28 million budget shortfall, and Superintendent Dr. Thomas Lockamy says that means making some tough choices, including cutting 150 positions by the June 3 board meeting.
– The Toledo Board of Education on Friday morning approved closing two schools and cutting more than 100 positions to trim a projected $10 million shortfall for the coming year.
– About 160 district teachers received notices that they could lose their jobs today.
– NORTH ATTLEBORO – Pink slips were delivered Thursday to 16 teachers and three school administrators – the first of about 90 town employees who will getting notices of either layoffs or reduced hours for the coming fiscal year.
– BEDFORD TOWNSHIP — Bedford Public Schools announced 46 employees received pink slips for the 2009-10 school year.
– Nearly 130 Tigard-Tualatin School District teacher, staff and administrative positions were axed Thursday, as the district tries to reduce its budget by $11 million for the next school year.
– Unlike Chrysler, which on Thursday released a list of 789 dealers that it was cutting loose, G.M. does not plan to announce publicly the dealers that it no longer wants. G.M. will send the dealers a letter telling them their franchises will not be renewed after October 2010.
– GM spokeswoman Susan Garontakos confirmed Thursday that the company will notify 1,100 “underperforming dealers” that it will not renew their franchise agreements when they expire in October 2010.
– DETROIT (AP) — As thousands of General Motors workers await word on more U.S. plant closures, reports that the company plans to import Chinese-made vehicles to the U.S. have created a political problem for the automaker and the White House.
The reports, which GM will neither confirm nor deny, could mean trouble because GM is supported by $15.4 billion in U.S. government loans, largely due to the Obama administration’s desire to preserve the company’s 90,000 U.S. jobs.
But “help” that pays Chrysler to shutter factories in Ohio, Wisconsin, Missouri, and Michigan and move work to Mexico, that pays General Motors to shutter factories in locations across the country in order to move the work to China, that pays Chrysler and GM to drop roughly 1,900 dealerships, is not going to get the American middle class through this downturn.
The dealership closings, which were announced this week, will be especially tough on minority owners and, according to the dealer’s association, could cost as many as 100,000 jobs nationwide.
RALEIGH – Stock Building Supply, as part of its sale to a California private equity group, will cut as many as 2,200 more workers and cancel 210 additional lumberyard and showroom leases nationwide, according to court documents.
Update: – Nike Inc. has announced plans to reduce its overall global work force 5 percent, or 1,750 of its nearly 35,000 employees.
500 of the job cuts will come from Nike’s world headquarters in Beaverton, Ore.
– SIOUX FALLS, S.D. – Carlisle Cos. Inc. said today that it will temporarily close heavy truck trailer production operations in Western Pennsylvania and North Dakota.
– Avago Technologies Finance Pte. Ltd. said on Thursday that it will cut up to 200 more employees.
– The area’s five Stock Building Supply stores are slated to close June 30, leaving about 100 people without work, a local employee said Thursday.
– That action, plus the closing of Coty’s facility in Leland, will put 510 people out of work over the next 12 months.
– Venus Swimwear and Venus Manufacturing Inc. filed notice with the state Thursday that it may to lay off 240 people.
– Superior Industries International Inc. on Thursday morning laid off 107 workers at its Fayetteville plant.
– Raytheon Co. handed out more than 100 layoff notices Thursday to employees in Southern California after the company conducted a re-evaluation of work force needs.
– Law firm Hunton & Williams is cutting 87 employees nationwide, including almost two dozen lawyers.
– A direct marketing company with an office in Little Falls has cut 37 workers, a company spokeswoman said Thursday.
IWCO Direct, which is headquartered in Chanhassen with an office in Little Falls, cut employees at both campuses, said Debora Haskel, vice president of marketing for the business.
– The Ingersoll-Rand (IR) plant at 101 N. Main St. in Athens recently had 30 layoffs, according to Susan Jaramillo, director of communications for the IR industrial technology division.
– Jane Boal, who gained a measure of fame in 1999 when a car plowed into her while she reported live on WGN-Ch. 9’s noon newscast, was among those the station let go Thursday in response to the economic climate and media revenue picture.
– Quincy Compressor has laid off 23 workers, including five salaried employees.
via Quincy Herald Whig.
– The university will lay off 32 staff, reduce work hours for an additional 31 positions and eliminate 77 vacant positions, according to a press release.
– BURLINGTON, Iowa – Case New Holland has announced it will lay off 150 employees at its plant in Burlington.
– John Shivel, a Fruit of the Loom executive, blamed the layoffs on the sour U.S. economy. But the company did not immediately say how many employees would be affected by Thursday’s announcement.
– PITTSFORD — Omya Inc. eliminated 10 positions at its Florence calcium carbonate processing plant Thursday due to the “general state of the economy,” according to company spokeswoman Linda Pleiman.
– INDIANAPOLIS » WellPoint plans to outsource its internal information technology help-desk functions, meaning about 100 job cuts.
– Aramark Campus Services LLC will cut 185 jobs at a contract site at the University of Pennsylvania,
– The budget cutbacks facing higher education in Oregon will drastically cut funding for the College of Liberal Arts and Sciences (CLAS) at Portland State. As a result, undergraduate advisers in many departments around the university are being laid off.
– SANTA ROSA, May 15, 2009 – Medtronic CardioVascular laid off 60 employees in its Coronary and Peripheral business unit today.
via Medtronic lays off 60 .
– The workers at Bosch Chassis Systems and Full Brake office in South Bend and the related Automotive Proving Grounds office in New Carlisle learned they would be out of work effective today, said Becky MacDonald, spokeswoman for Bosch.
– Community Now publications Friday consolidated its print and online operations and fired 19 employees.
– A loss in business means that some 46 of the 800 people who work for Sitel on Ontario Street will be let go as of June 1, the company said Friday in a statement.
– Foremost among the actions is slashing about 20 full- and part-time staff through layoffs and early retirements. There also will be a package of wage freezes and reductions in employee retirement-plan contributions.
– Officials tell The New York Times they hope to maintain the same level of services, even with the cuts to the 186-person staff. The layoffs are expected to save $3 million to $4 million.
– CALGARY – More than 100 staff have been let go, salaries cut across the board and unpaid leaves of absences implemented at Divestco Inc., a Calgary company that sells data to help oil and gas companies figure out where to drill.
– About 100 management positions will be cut within the next week as Alberta Health Services CEO Stephen Duckett reveals more details on the health system’s organizational structure.
– BOISE – The Boise State Athletic Department said Friday it’s cutting five staff positions to the economy.
– Herman Miller’s Integrated Metal Technologies plant, 17155 Van Wagoner Road, is closing in August to begin relocating workers and equipment. The 250,000-square-foot plant employed 320 people, according to Schurman.
The company hopes to keep up to 200 of the employees that worked at the IMT plant, but the exact number depends on discussions with United Steelworkers Union representatives.
-“The 186 redundancies announced by the receivers of textile and apparel maker Lane Walker Rudkin (LWR) Ltd over the last 24 hours is an absolute tragedy for the workers concerned and a new low point of business irresponsibility in New Zealand,” says Laila Harré, Secretary of the National Distribution Union (NDU).
– Jet Airways is leasing planes as it cuts seating capacity on international and domestic routes, it said. The company has put a freeze on hiring and capital spending. It is also reducing salaries and employee benefits.
– A plastic packaging factory in Flintshire is set to close with the loss of 70 jobs.
– Up to 30 jobs are at risk at BBC Magazines, which publishes titles including Radio Times and Top Gear, in a reorganisation prompted by the recession.
– In all, 91 people have lost their jobs at Simmons & Simmons as the United Kingdom law firm finalizes a redundancy review.
– Hungary’s Saga Foods will lay off 500 of its 1,800 workers, employees of the company told local newswire MTI on Friday, after management announced the staff cuts at a meeting.
– IPC’s women’s glossy Marie Claire is axing six editorial posts – one sixth of the magazine’s staff – in a cost-cutting drive.
The publisher confirmed that six of Marie Claire’s 36 editorial posts are “at risk” because of cuts being imposed “due to the economic climate”. The losses will be accompanied by an editorial restructure.
– Tom Christides, a Blue1 spokesman, told the Finnish News Agency (STT) that while temporary layoffs would be the priority, permanent job cuts had not been ruled out.
via NewsRoom Finland.
– The BBC World Service is to close 15 posts in London as part of a shift of its French-language production operation to Africa in a further bid to cut costs.
– HOK admitted this week it will axe more than 20 staff at its London office — around 10% of its British workforce — largely as a result of a slowdown in work in Dubai and Bahrain.
– Simmons & Simmons has finalised its redundancy consultation with 91 members of staff laid off, an increase on the firm’s initial announcement that 69 jobs were at risk.
– Austrian injection moulding machinery maker Engel is in discussions with the works council and local employment offices over plans to cut up to 400 jobs across its plants at Schwertberg, Dietach and Sankt Valentin, according to national media sources.
– Nine Department of Conservation (Doc) workers in Gisborne have taken redundancy after the scrapping of the East Coast Hawke’s Bay Conservancy and those positions may not be filled again.
– MARION – Closing day has grown months nearer for the Sypris Technologies plant on Marion-Agosta Road as Louisville, Ky.-based Sypris Solutions accelerated its restructuring plan.
– Production at Silver Creek Homes Inc. in Henrietta ceased Wednesday and the plant is closing its doors, leaving about 100 workers without a job.
– PLANS to expand an out-oftown store have been approved – paving the way for 80 new jobs.
Durham county councillors approved plans by Sainsbury to extend its branch at the Arnison Centre by a third.
– Henkel Corp. will spend $23.7 million to add 103 jobs to its manufacturing operation in Rowan County.
– On March 12, at a ceremony held by Governor Donald Carcieri, D’Ambra signed the contract. Less than two weeks later, his company broke ground, hiring back 25 of the workers it had let go.
– Edward Jones, the St. Louis-based financial services firm, is looking to hire between 20 and 25 financial advisers in 2009 to work in York County and parts of Dauphin County, said Michelle Van Pelt, a Shrewsbury-based adviser and recruiter for the company.
– LINDEN, Tenn. (AP) — Gov. Phil Bredesen has outlined a plan that would bring 300 jobs to Perry County, which has one of the highest unemployment rates in the nation.
– Governor David A. Paterson today announced the largest solar photovoltaic project in New York, which will help the State meet its energy needs, foster the development of solar technologies and stimulate the economy with new clean energy jobs.
– Only about 20% of 2009 graduates who applied for jobs have gotten one. (By comparison, 51% of college students had a job by the time they graduated in 2007, the group said.) In some cases, employers are able to fill entry level jobs with experienced people.
– STOCKTON, CA – Teletech, which operates a large phone center in Stockton, has posted 400 jobs this week. Applications will still be taken Friday at the Waterfront Warehouse building on Weber Avenue in downtown Stockton.
– Local 79 Mason Tenders Union is accepting applications for their apprenticeship program. The program is open to everyone over 18 with a high school diploma or GED.
Mike: WordPress acts buggy with any video links that are older than a couple days. Do any of you know why videos added to WordPress can eliminate an entire post? Thanks……..
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