Mike: I hope you all had a fine weekend and thanks for visiting the new location of The Layoff List.
Monday proved to be a busier day for international layoff announcements, which seems to be the case over the last few months of this blog’s life. US layoff announcements picked up the pace later in the day. Brown-Forman, the makers of Jack Daniles, had layoffs this day. Usually liquor sales keep up the pace, even in the face of recession, so this recession must be a beauty. The results of the Leading Economic indicators was worse than expected, which doesn’t bode well for a quick recovery.
I hate ending a post on a sour note, so why not pay a visit to a more cheerful, yet informative, unemployment site like:
I plan to do the same and also get a few laughs from The Daily Show. Till Tuesday………………..
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The following story showed that TX governor Rick Perry’s grandstanding at the expense of the unemployed didn’t deter the state senate from passing the inclusion of additional unemployment funds from the federal stimulus package. I wrote how bizarre was Gov. Perry’s stance of wanting to refuse unemployment funding a couple weeks ago in: March 13 – Grandstanding Texas gov. rejects unemployment stimulus money
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AUSTIN, Texas (AP) — While Gov. Rick Perry is slamming Washington bailouts and excessive spending,
his own state Senate defied his wishes and voted Thursday to accept $555 million in federal unemployment benefits. via
The Associated Press: Texas Senate OKS stimulus money for unemployment. Mike:
Company CEOs probably don’t receive this level of testing and interviewing, but maybe if they did, we wouldn’t end up with CEOs that drive their company’s and the country’s financial system into the ground Of the 835 applicants, only 14 were interviewed. From the field of 14, Patron and five other men received second and final interviews last week. Before the interviews, a focus group evaluated 835 applications based on trades experience, complete information and professional — not personal — references, narrowing the field to 194 candidates.
* Larger layoff announcements and important economic reports:
US/Canada
International:
– Microsoft/Google/IBM and other Rumors & News – – Microsoft (MSFT) could be preparing for a fresh round of layoffs on top of already-announced reductions, one analyst is predicting.
– The Oracle Corporation, the technology information company, announced Monday that it would acquire a rival, Sun Microsystems, for $9.50 a share, or about $7.4 billion.
– General Economic News – Leading Indicators 10:00 AM ET
Washington, D.C. (AHN) – The Conference Board announced Monday that the index of leading economic indicators for the U.S. fell 0.3 percent, marking the ninth straight month of decline. The index, which is made up 10 indicators ranging from everything to building permits and interest rate spreads, is designed to forecast economic activity six to nine months out. The 0.3 percent March decline was steeper than the 0.2 percent economists had expected. Six of the 10 indicators made negative contributions to the index, while three were positive and one was flat. via
Index Of Leading Economic Indicators Dips In March | AHN | April 20, 2009.
____________________________________________________________________________________________________________ Mike: The following Slate Magazine article presents a great interactive map showing job losses for counties throughout the US along with a timeline. The color changes will dismay most…………… – The economic crisis, which has claimed more than 5 million jobs since the recession began, did not strike the entire country at once. A map of employment gains or losses by county tells the story of how those job losses first struck in the most vulnerable regions and then spread rapidly to the rest of the country.
via
An interactive map of vanishing employment across the country. – By Chris Wilson – Slate Magazine . Mike:
Companies that abuse layoff regulations has been a complaint of mine since I started this blog. I’ve written about this issue previously and the article below gives an explanation of why many businesses don’t properly report layoffs. If a company lays off 50 workers a week for 10 weeks instead of 500 workers all at once, there’s a lot less media fanfare and companies aren’t required to follow stricter layoff rules. It’s a continuation of corporate game playing at the expense of the employee and accurate unemployment data:
With the economy weakening, chief executives want Wall Street to see them as tough cost-cutters who are not afraid to lay off workers. But plenty of job cuts are not trumpeted in news releases. Big companies also routinely carry out scattered layoffs that are small enough to stay under the radar, contributing to an unemployment rate that keeps climbing, but that is not always truly reflected in jobs reports. via
Layoffs done piecemeal enable companies to skirt the law – Salt Lake Tribune.
– With below-normal precipitation, many in the Central Valley have let their fields go fallow this spring. In March, the state projected that because of the drought as many as 23,700 full-time workers would go without jobs, and farmers would lose up to $477 million in revenue.
via
Hundreds Protest Cuts in Water in California – NYTimes.com.
Mike Luckovich - Apr 19
Mike: It’s getting to the point where I’m not sure whom I trust least; the government or corporations: – U.S. manufacturers, including major drugmakers, have legally released at least 271 million pounds of pharmaceuticals into waterways that often provide drinking water — contamination the federal government has consistently overlooked, according to an Associated Press investigation.
via
AP IMPACT: Tons of released drugs taint US water. – So many pitches seem so enticing: “I paid $2.99 and got $12,000. Claim yours!””Would you like to earn an extra $200, $900 or even $5,000 everyday! For just 45 minutes work!” “New mortgage with low payments!”
– Government Layoff News – – The city has laid off two full-time and five part-time library employees.
– US and some Canada Layoff News – – DETROIT (AP) — About 1,600 workers at General Motors Corp. will lose their jobs in the next few days as the troubled automaker accelerates cost cuts in order to qualify for more government aid.
via
GM exec says 1,600 will lose jobs in next few days – Yahoo! Finance. Mike:
While we continue to pour billions of taxpayer dollars into these failed companies, these same companies dismiss US workers and spend billions in other countries. Growing offshore is important and other countries deserve to better themselves, but these companies should be forced to pay back the American taxpayer before they spend those billions offshore. When American companies destroy their US businesses, layoff tens of thousands and then rob the treasury, it’s time we take notice.
– April 20 (Bloomberg) — General Motors Corp., shuttering U.S. plants in a bid to avoid bankruptcy, is “likely” to build a new factory in China on surging demand.
“Operations in China are profitable and in the future China can finance its own growth,” Nick Reilly, the company’s Asia-Pacific president, said at the Shanghai auto show today. He didn’t give a timeframe for the new plant. via
GM ‘Likely’ to Build in China as U.S. Factories Close (Update1) – Bloomberg.com .
– LOUISVILLE, Ky. (AP) — Liquor company Brown-Forman Corp. has announced plans to reduce its work force by about 250 employees. It’s part of a cost-cutting move expected to save $15 million to $25 million in the next fiscal year.
– Apr. 19–Business jet manufacturer Dassault Falcon, citing order cancellations spurred by the bad economy, cut 25 positions Friday from its workforce of about 400 at its Teterboro Airport facility, a company spokesman said.
– Mac Cooper, president and chief executive officer, provided few details about the layoffs, saying that the number of employees affected was “less than 25.”
“We had our first real layoff in 34 years this past Tuesday,” Cooper wrote in an e-mail. “Obviously, we didn’t do this lightly or without great thought, as it’s painful for all.” via
Franklin Co. business has first layoffs in decades – Roanoke.com. – Legg Mason Inc. has laid off 40 workers, including five in its Baltimore headquarters.
– International Layoff News – – FRANKFURT, April 19 (Reuters) – German steel and industrial conglomerate ThyssenKrupp (TKAG.DE) plans to cut 4,000 jobs and introduce a leaner management structure, German newspaper Welt am Sonntag reported on Sunday.
– EIRCOM HAS told its trade unions that it wants to cut 1,250 jobs from its 7,500-strong workforce over the next 18 months as part of a series of measures aimed at achieving savings of about €130 million a year in its cost base.
– Hiring News and News You Can Use – – Although the hospital laid off eight people as part of a network-wide reduction in January, Banner Thunderbird plans to hire 350 employees this year.
Up to 800 new hires are expected by the time the $289 million expansion is completed in 2011. At that point, the nonprofit hospital will be the fifth-largest in the state, with 563 beds. via
New hospital tower brings 350 new jobs to Glendale. – EAST TROY (WKOW) — Alpine Valley Music Theater is looking to hire more than 1,000 people for its summer concert series. Granted — the jobs are seasonal and part-time — but in a recession, any kind of job growth is a huge encouragement.
Tweet This! Mike: See you all on Tuesday…………….
Drew Sheneman - Apr 19
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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