* 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:
- Tyco Electronics announces 20,000 layoffs
- 1,200 losing jobs as Rheem plant closes
- Sony reportedly to cut about 300
- 250 Jobs To Be Cut At Owens Corning
- U.S. private sector cuts 697,000 jobs in February
- Bloomberg.com: O’Melveny & Myers fire 300
- 1,200 jobs cut at Windsor Chrysler plant
- U.S. Steel to lay off 1,500 in Ontario, Canada
International:
- GM Europe head reportedly says Opel may cut 3,500 jobs
- ADC to cut 600 jobs
- Comverse to lay off hundreds
- ITV axes 600 jobs
- Bloomberg.com: Kloeckner to cut 700.
- Novelis to shut UK mill, cut 440 job
- Flextronics to Sack 1400 in Malaysia
- Microsoft/Google/IBM and other Rumors/News
General Economic News
Municipal News
US and some Canada Layoff News
International News
Hiring News
– Microsoft/Google/IBM and other Rumors & News –
* 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.
* 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.
* 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.
* 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
* 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.
* 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.
* 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.
* 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.
* 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.
* 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.
* 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.
* 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 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 .
* 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.
* 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 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.
* 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).
* 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 .
* 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 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 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, 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.
* 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 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 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.
* 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: .
* 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.
* 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.
* 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.
* 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.
* 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 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.
* 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 .
* 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 .
*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.
* 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.
* 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……….
[vodpod id=ExternalVideo.791357&w=425&h=350&fv=autoPlay%3Dfalse]
Mike Luckovich - Mar 3
Mike: Good morning to all. This is starting out to be a very quiet layoff announcement day, which I’m sure all of us are grateful for. A couple of economic reports due this morning, Motor Vehicle Sales and Pending Home Sales Index will give a clearer picture of the auto and home construction job market trends.- Crane maker Manitowoc to cut 400 jobs
- Nickel miner Vale Inco to cut 900 jobs globally, 350 in Canada
- Citigroup to lower some mortgage payments
- BAE Systems adds 200 jobs in Fort Wayne, eliminates 500 in Texas
- Smart Papers sells brands to Mohawk; will lay off 200
- HSN cuts 250 jobs
- Pending home sales for January plummet to record low
- Ford, GM sales halved
- Macy’s Fla. headquarters to layoff 375, close
- FirstEnergy Corp. cuts 335 managers and support staff
- Microsoft/Google/IBM and other Rumors/News
General Economic News
Municipal News
US and some Canada Layoff News
International News
Hiring News
– Microsoft/Google/IBM and other Rumors & News –
* Up to 3000 employees could be needed for Microsoft’s research efforts this year, in part offsetting layoffs announced in January, says a top company executive.
via Computing SA – Microsoft executive says layoffs offset by more R&D.
* Valleywag today posted an item which says that, according to a “tipster,” Apple (AAPL) is conducting “major layoffs” today. But don’t believe everything you read.
There’s not going to be any layoff annoucement at Apple today.
via Tech Trader Daily – Barron’s Online : Apple: I’m Not Buying The Layoff Rumor.
* SAN FRANCISCO (MarketWatch) — Ford Motor Co. and General Motors Corp. on Tuesday both said February U.S. vehicle sales fell by half. They also pared production plans in preparation for a year in which hopes for a broader industry turnaround are diminishing.
via Ford, GM sales halved amid auto industry meltdown – MarketWatch
Pending Home Sales Index
![[Report]](http://bloomberg.econoday.com/images/bloomberg/byconsensus_butt.gif)
![[djStar]](http://bloomberg.econoday.com/images/bloomberg/djstar.gif)
10:00
* NEW YORK (CNNMoney.com) — Pending home sales sank to a record low in January, according to a report released Tuesday by the National Association of Realtors.
The Pending Home Sales Index, which measures the number of sales contracts signed each month, fell 7.7% to 80.4 from a downwardly revised reading of 87.1 in December. That’s the lowest level since tracking began in 2001.
via Pending home sales for January plummet to record low – Mar. 3, 2009 .
* Toyota’s financing unit is in talks with a Japanese government-backed bank on possible lending, the automaker said Tuesday, underlining the serious woes facing the car industry amid plunging global sales.
Toyota Motor Corp. said no details had been decided. Kyodo News and NHK TV reported earlier in the day, without identifying sources, that Toyota’s auto loan unit, Toyota Financial Services, had asked for a 200 billion yen ($2 billion) government loan.
via Toyota in talks for Japan government loan – Yahoo! Finance.
* NEW YORK (AP) — Struggling bank Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners to an average of $500 a month for three months as part of a new program to help the unemployed.
The struggling bank makes the move as President Barack Obama looks to lenders to adjust the way loans are handled.
via Citigroup to lower some mortgage payments – Yahoo! Finance.
* CHICAGO (AP) — The number of people who were late making their mortgage payments shot up 53 percent in the fourth quarter of 2008 from the same period in 2007, according to data provided by TransUnion LLC.
The credit reporting agency said its database shows delinquencies — or the percentage of mortgage holders at least 60 days behind on payments, considered a precursor to foreclosure — jumped to 4.58 percent nationally, from 2.99 percent for the 2007 fourth quarter.
via Mortgage delinquencies up for 8th straight quarter – Yahoo! Finance.
* Part networking opportunity, part therapy group, jobs clubs are is rapidly emerging as hot spots for job hunters in America. The clubs, which are springing up in large U.S. cities as well as small towns, act as places to share fears over depleted savings accounts, polish resumes, practice 30-second personal pitches and hone survival strategies.
via Offering Help, Hope, U.S. “Job Clubs” See Surge – Domestic News: The Post Chronicle.
Tom Toles - Mar 3
* March 3 (Bloomberg) — Bankruptcy filings in the U.S. surged 37 percent in February from a year earlier, with more Americans seeking protection from their creditors as the economy sank into its deepest recession in at least a quarter century.
via Bloomberg.com: U.S..
* FALL RIVER –– The city is laying off 149 unionized workers and cutting the salaries of top administrators and other nonunion employees to close a projected $2.9-million budget deficit, Mayor Robert Correia announced yesterday.
via Fall River announces layoffs, salary cuts | Rhode Island news | projo.com | The Providence Journal .
* JONESBORO, GA (AP) — Clayton County’s school board unanimously voted to cut 200 teaching jobs and effectively slash salaries for administrators and other employees. But the teachers that stick around will get a 1 percent raise.
via Clayton County Schools to Cut 200 Teaching Jobs | Firstcoastnews.com | Georgia.
* More than 100 South County middle and high school educators will receive tentative layoff notices, with the biggest hits coming to English, social studies and physical education teachers.
* TORONTO — Vale Inco Ltd. said Tuesday it will cut about 350 Canadian jobs as it continues to restructure its operations amid slumping nickel prices.
The Toronto-based miner said it will cut 900 jobs worldwide, mainly from its corporate, management and business support functions. “The declining nickel price and reduced demand for nickel make it clear that continuing to operate in our current fashion is simply not sustainable,” stated Vale Inco president and chief executive Tito Martins.
via The Canadian Press: Nickel miner Vale Inco to cut 900 jobs globally, 350 in Canada.
* Another 470 jobs have or are expected to be trimmed from the payrolls of five Memphis-based employers, according to the state Department of Labor and Workforce Development.
via More job cuts announced in Shelby County – Memphis Business Journal: .
* Manitowoc – Canceled orders have led a Franklin County crane manufacturer to lay off 400 workers.
* MUSKEGON, Mich. (AP) — Sappi Fine Paper North America says it will suspend operations at its coated-paper mill in Muskegon for at least six months starting April 1, furloughing about 190 salaried and hourly employees there.
via Sappi paper plant in Muskegon closing for 6 months – NewsFlash – mlive.com.
* Freescale Semiconductor cut 229 jobs at three locations in Austin last week as part of its ongoing campaign to restructure its business and cut costs.
The cuts affected 100 positions at the company’s operations in Oak Hill, 75 jobs at its 1601 S. Mopac Blvd. location and 54 jobs at its campus at 7700 W. Parmer Lane in Williamson County.
* Virgin Megastores May Close North American Stores, WSJ Reports
via Bloomberg.com: U.S..
* “Berkshire’s operating companies have taken and will continue to take cost reduction actions in response to the current economic situation, including curtailing production, reducing capital expenditures, closing facilities and reducing employment to partially compensate for the declines in demand,” the firm said in a regulatory filing yesterday.
via Bloomberg.com: U.S..
* In a staff meeting Monday, L.B. White Company in Onalaska announced they are laying off 18 workers, or about 20 to 30 percent of their workforce, according to a company source.
L.B. White Director of Human Resources Dan Todryk says the layoffs are due to a downtown in the company’s market. Todryk says they hope to bring the employees back to work in June.
via WKBT La Crosse, WI-NewsChannel 8-More Layoffs Hit La Crosse Area.
* SOUTH KINGSTOWN — South County Hospital trimmed its work force yesterday and cut $100,000 in pay for seven top administrators after running up a $2-million budget shortfall from October to January, the first quarter of its fiscal year
“Today we laid off 20 employees,” Louis Giancola, the hospital’s president and chief executive officer, said yesterday in announcing the cost-cutting measures.
via 20 jobs cut at South County Hospital | Rhode Island news | projo.com | The Providence Journal .
* Mohawk Fine Papers Inc. has acquired Smart Papers LLC’s uncoated paper brands, a move that will cut more than half of Smart Papers’ employees at its Hamilton mill.
* MYRTLE BEACH (AP) — The Sun News newspaper has announced it will eliminate 20 positions and reduce pay and work hours for its remaining staffers.
via The Sun News announces layoffs, other cuts | SCNow.
Ben Sargent - Feb 28
* OMAHA, Neb. (AP) The Omaha World-Herald has laid off 38 employees, about 5 percent of its work force
* Edwards & Associates and its subsidiary, Aeronautical Accessories, laid off five and 45 employees, respectively, company spokeswoman Carolyn Ferrell said in a news release issued Monday.
via Edwards & Associates Announces Layoffs | TriCities.
* The job cuts are part of Intel’s standard practice of finding ways to make its manufacturing process more efficient.
Shipley would not say exactly how many people were notified, but she said it was “significantly lower” than the 100 to 200 layoffs Intel announced in January.
* The RIAA is currently laying off dozens of employees in what’s been described as a “bloodbath” at the lawsuit-happy organization. Could this be the end of the RIAA?
Hypebot, the site that reported the layoffs, says that the “RIAA as you know it is probably history by Tuesday.” And yes, that means tomorrow. Offices are closing and over 100 people are being shown the door, so this is clearly a serious move.
via Inevitability: RIAA Layoffs ‘Bloodbath’ May Be the Beginning of the End for the Evil Organization.
* Equistar Chemicals LP said it anticipates cutting the workforce at its Chocolate Bayou plant by 229 positions. The plant is located in Alvin, south of Houston.
via Dallas-Fort Worth economy watch Blog | The Dallas Morning News .
* It’s not a sunny day for the staff at Entech Solar, which plans to lay off 40 percent of its employees as it retools itself.
via Greentech Media: Green Light » Blog Archive » New Strategy Forces Entech Into Layoffs.
* The United Way of Salt Lake serving Davis, Tooele and Summit counties has announced a reduction in staff, including Lynne Shaffer who has been serving as a regional coordinator for Davis County.
via United Way lay offs mean new director for Davis – Standard.NET – Standard-Examiner.
* “The entire economy is shutting down now,” said Gregory Brown, an associate professor of economics at Martin Methodist College in Pulaski, Tenn. “So you are having huge segments of our production groups that are going to be shutting down because there is no demand there for the product.”
via 250 more Middle Tennessee workers to lose jobs | www.tennessean.com | The Tennessean.
* Glen Nardi, president and publisher of Whatcom County’s daily newspaper, announced the cutbacks on Monday, March 2, in the newsroom. There will be eight full-time equivalent positions eliminated, totaling 10 people. Salaries for most of the remaining workforce will be reduced by 2.5 percent or 5 percent, depending on the employees’ salary range.
via The Bellingham Herald / News Update / Bellingham Herald to cut staff, reduce salaries .
* His once proud news operation at WTVH-CBS 5 was devastated Monday March 2, when its owner merged the CBS affiliate with WSTM-NBC 3 and its sister station WSTQ-CW 6. More than three dozen WTVH news and production staffers were laid off.
via Cnylink Local News: WTVH 5 lays off news staff; merges with WSTM 3 .
* Inspire said it will eliminate about 20 jobs as it reallocates resources to late-stage programs. The positions are mainly being cut from early and preclinical stage research.
via Inspire sets 2009 revenue outlook, cuts jobs – Forbes.com.
* March 3 (Reuters) – Home Shopping Network operator HSN Inc (HSNI.O) cut about 250 jobs during the fourth quarter, and cancelled merit increases for 2009 to contain costs.
via UPDATE 1-HSN posts Q4 loss on charges, cuts 250 jobs | Markets | Markets News | Reuters .
*FORT WAYNE — BAE Systems is adding 200 new jobs in Fort Wayne, but eliminating 500 in Texas.
Company spokesperson, Lisa Albiston says BAE is refocusing processes at the Irving, Texas facility.
via BAE Systems adds 200 jobs in Fort Wayne, eliminates 500 in Texas.
* TYLER, Texas — Chicago Bridge and Iron Co. plans to close its two fabrication operations in Tyler, a move that will cut 300 jobs.
via Tyler plant loses 300 jobs | Business news | Chron.com – Houston Chronicle.
* One of Somerset’s oldest and best-known firms has sold off its furniture division in a deal which will lead to the loss of 20 jobs and the closure of a distribution centre.
Shepton Mallet based Haskins says the deal will safeguard the future of the firm and jobs both in Somerset and Bristol.
* Watson & Chalin Inc., a North Texas manufacturer of auxiliary truck suspensions, has sent a letter to the Texas Workforce Commission informing of plans to lay off up to 42 employees at the company’s two McKinney facilities.
via McKinney company cutting up to 42 jobs – Dallas Business Journal:
* CNL Financial Group Inc. slashed 10 percent of its workforce, or about 30 to 35 positions.
via CNL cuts 10% of workforce – Orlando Business Journal: .
* Citing poor sales, a Decatur powerboat maker has laid off 225 employees, 62 of them last week. They’re expected to be out of work at least six months.
Porter Inc., maker of Thunderbird and Formula powerboats, notified the state of its plans last week, but the Indiana Department of Workforce Development didn’t post the notice on its Web site until Monday afternoon.
via Powerboat maker idles 225 in Decatur | The Journal Gazette.
* It’s official: Macy’s has told the state that it will be laying off 375 employees at its Florida corporate headquarters on East Flagler Street in downtown Miami.
via Macy’s Fla. headquarters to layoff 375, close – Triangle Business Journal: .
* TORONTO – CTV Television Inc. is slashing 118 jobs at the newsroom operations of its A Channel television stations, and cancelling morning shows in some cities.
via CTV slashes 118 jobs at A Channel stations, cuts morning shows | 610 CKTB.
* The San Francisco-based law firm is laying off approximately 100 lawyers and 200 staff workers from its 21 offices in the United States, Asia and Europe. That is equal to 12 percent of its legal ranks and 14 percent of staffers.
via Orrick laying off 300 more – San Francisco Business Times: .
* Standard Motor Products, a New York-based auto replacement parts manufacturer and distributor, will be closing its Wilson facility and laying off all its 36 employees
via SMP Standard Motor Products closes Wilson plant: Plant’s work to be outsourced to Asia.
* FirstEnergy Corp. Tuesday cut 335 managers and support staff, including 216 in Ohio.
The cuts came after a two-month organizational study aimed at streamlining the management of the Akron-based utility’s operations that sprawl over three states and include seven operating companies.
* Information technology provider Securas Consulting Group LLC laid off eight employees Monday and cut salaries company wide by 10 percent, sources familiar with the company said.
* Kühne & Nagel, the world’s largest sea-freight company, has announced up to 4,500 job cuts worldwide in 2009 despite filing record annual results.
* GENEVA – BMW will reduce its work force by more than 1,000 additional jobs this year through natural attrition, the German car maker’s chief executive said on Tuesday.
* British aerospace company Meggitt (MGGT.L) said 2009 revenues would come in around the same as last year as it battles a tougher civil aviation market, while up to 750 jobs will go as it seeks to cut costs.
* Sandvik (STO:SAND) Mining and Construction intends to immediately initiate negotiations with the personnel organizations regarding closing of the manufacturing of mobile crushers, screens and stationary feeders in Arbra, Sweden. The notice of termination of employment affects all personnel employed at Sandvik SRP AB in Arbra, 53 persons.
via Sandvik Announces Layoffs in Arbra, Sweden – MarketWatch .
* ROME -(Dow Jones)- Semiconductor giant ST Microelectronics SpA (STM, STM.MI) said Tuesday about 4,000 Italian workers will be affected by government-subsidized temporary layoffs, as the economic crisis continues.
* Carphone Warehouse staff who escape the current round of 450 redundancies will lose many of their perks, including the firm’s long-running monthly drinking session, according to documents seen by The Register.
When job losses were announced last week, presentations were given to surviving staff detailing a much more frugal employee benefits package.
The Carphone Warehouse “Beer Bust” has been running since 1989. Staff at head office and call centres stay after hours for free beer, while shop workers are given an allowance for a trip to the pub.
via Office booze-up battered in CPW cutbacks • The Register.
* Speculation is rife that Bausch and Lomb is set to announce more than 100 lay-offs.
via Bausch and Lomb expected to cut Waterford jobs – Business, Ireland – Belfasttelegraph.co.uk.
* BOEING will cut up to 90 jobs this week in the latest round of job losses in the aviation company.
via Boeing to shed 90 jobs | The Australian.
* More than 300 jobs are set to go with the closure of the Indesit washing machine factory in Denbighshire.
* CALGARY, Alberta, March 2 (Reuters) – Nova Chemicals Corp (NCX.TO) has canceled plans to lay off 400 of its North American staff following its agreement to be bought by Abu Dhabi’s International Petroleum Investment Corp, a Nova spokeswoman said on Monday.
* Thirty previously laid-off hourly workers at General Motors Corp.’s Tonawanda engine plant were recalled Monday.
But because of quickly changing production schedules linked to depressed new vehicle sales, the recall of a small portion of the more than 740 Western New York auto workers currently on layoff might only last one week, says Scott Adams, UAW assistant regional director.
via GM brings back 30 at engine plant – Business First of Buffalo: .
* About 80 laid-off workers are back on the job in Clive.
The Wittern Group’s company, Fawn Manufacturing, makes vending machines for companies around the world.
via 80 Workers Called Back To Clive Plant – Money News Story – KCCI Des Moines.
Mike: More as the day develops………..
Tags: COBRA, cut jobs, economic, employment, factory closing, firing, hiring, job loss, jobs cut, laid off, layoffs, plant closing, positions eliminated, redundancies, staff cuts, unemployment, workforce reduction
- Microsoft/Google/IBM and other Rumors/News
General Economic News
Municipal News
US and some Canada Layoff News
International News
Hiring News
– Microsoft/Google/IBM and other Rumors & News –
* There’s an old saying involving the correlation between expenditures and profit, but apparently the same “money spending” axiom is also valid while in a struggle to avoid making a pile of cash. This is a lesson that Yahoo learned the hard way, as it coughed up no less than $79 million in order to not take Microsoft’s billions in 2008. According to the Sunnyvale-based company’s Form 10-K filing with the Securities and Exchange Commission the past week, it cost more than just a pretty dollar to stay out of Microsoft’s hands.
![[Star]](http://bloomberg.econoday.com/images/bloomberg/star.gif)
8:30 AM ET10:00 AM ETThe reading suggested to some economists that the decline of the ailing factory sector could be bottoming out, though they expect a recovery is still far in the future.
The Institute for Supply Management, a trade group of purchasing executives, said Monday its manufacturing index actually rose to 35.8 from 35.6 in January. Analysts had expected a drop to 33.8, and a reading below 50 indicates the sector is shrinking.
via The Associated Press: Manufacturing sector contracts again in Feb..
10:00 AM ETThat decline was more than double what Wall Street economists surveyed by Thomson Reuters were expecting.
Residential construction fell 2.9 percent and nonresidential activity dropped 4.3 percent, the biggest decline since January 1994.
via Commerce Department: Construction spending falls 3.3 percent – Phoenix Business Journal: .
* The international trade business is foundering faster than ever seen before, with some U.S. seaports watching cargo traffic fall by more than a third.
It’s gotten so bad that Los Angeles and Long Beach are slashing cargo rates to keep old customers and lure new business. Oakland’s port has laid off 12% of its staff and canceled free tours for the public. The number of ships idled around the world is approaching three times the number that were out of work during the last big ocean trade collapse, in 2002.
via Port cargo levels are sinking fast – Los Angeles Times.
* March 2 (Bloomberg) — Europe’s manufacturingindustry shrank at a record pace in February as export demand collapsed and companies scaled back production.
A gauge of manufacturing activity declined to 33.5 from 34.4 in January, lower than an initial estimate of 33.6 published on Feb. 20. The index is based on a survey of purchasing managers by Markit Economics and a reading below 50 indicates contraction.
* TOKYO (AP) — Japanese auto sales plunged 32.4 percent in February, the biggest monthly drop since 1974 on sinking demand as the global economic downturn deepens, an industry group said Monday.
via Japan auto sales plunge in February – Yahoo! Finance.
* As our economy falters, more Americans are finding themselves among the growing ranks of the unemployed. The Bureau of Labor Statistics reports that 10 million people were out of work in October, with more than one-tenth of them age 55 and up.
While no demographic group appears to be immune to the job cuts, older workers tend to face greater obstacles in and returning to the marketplace. According to the AARP, workers age 55 and above are getting pink slips at a faster rate than other age groups, and these workers have to search longer to find new positions.
via Unemployment: opening doors to entrepreneurship – Fort Worth Business Press.
Tom Toles - Mar 1
* The Del Norte County Unified School District Board agreed Thursday evening to send layoff notices to 20 temporary employees.
* Layoff notices will be sent to 65 employees, most of them teachers, decided Marysville Joint Unified School District trustees — one of whom said education spending cuts by the state should start with its student testing.
via District blames state for 65 layoffs | district, unified, school – Local News – Appeal-Democrat.
* But there will be 120 fewer jobs and the division will spend less money on technology, materials and supplies. Salaries will not go up or down. And division personnel on year-round contracts will work four-day weeks over the summer to save on utility costs.
* * LONDON — HSBC Holdings said Monday that it would ask investors for nearly $18 billion in new capital and cut more than 6,000 jobs as it braces for more market turmoil and positions itself for possible acquisitions.
* The British banking group said it planned to raise 12.5 billion pounds (17.8 billion dollars, 14.2 billion euros) and would axe 6,100 jobs in the United States by shutting most of its HFC and Beneficial branches.
*Pilgrim’s Pride Corp. said Friday it will close a South Georgia poultry plant, eliminating 900 jobs.
The layoff was part of broader cost-cutting moves announced by the Pittsburg, Texas-based company, which sought bankruptcy protection in December.
via Pilgrim’s to shutter plant, lay off 900 | ajc.com.
* Bearing maker Timken Co. said Monday it will cut 400 salaried jobs this year, or almost 2 percent of its work force, as it reduces costs to match a slowing market for its products.
* Beaumont Hospitals in Royal Oak is making more cutbacks to help restore profitability this year and counter business lost because of the deepening recession, hospital officials said Friday.
The cutbacks include laying off another 84 workers, most of them nonclinical staff, and asking vendors and suppliers to reduce prices to reverse a $29.5 million operating loss incurred last year.
via Beaumont will cut more staff | detnews.com | The Detroit News.
* SUNNYVALE, Calif. (AP) — Flash memory drive maker Spansion Inc. says it is seeking bankruptcy protection.
The Sunnyvale, Calif.-based company said in a statement Sunday it plans to reorganize under Chapter 11 bankruptcy as it attempts to restructure $625 million in senior secured debt under court protection.
via Flash memory company Spansion files for bankruptcy – Yahoo! Finance.
* The U.S. Steel Plant in Ecorse will likely be closed until next winter, leaving 2,000 employees without a paycheck.
Marc Barragan, President of U.S. Steelworkers Local 1299, says his fellow union members knew the plant was closing in January. But they expected it would reopen sometime this spring.
* In another cost-cutting move, Pearl River Resort will eliminate the last shift at the Golden Moon Casino on Sundays, Warren Strain, communications director for the Resort, confirmed late Friday.
So far, about 40 employees had been terminated as of Friday evening and more terminations were expected in what Strain said was a layoff “similar to last time but not as big.”
via Resort plans another smaller layoff .
*The job cuts aren’t immediate, but First Energy has just completed a study which all but guarantees imminent staff reductions.
via 90.3 WCPN ideastream® | First Energy To Cut Some Executive Positions.
* Pacific Ethanol said Friday that it is temporarily closing down its ethanol plants in Burley, Idaho, and Stockton, Calif., leaving only a partially owned plant in Colorado and its Boardman plant along the Columbia River to produce the corn-based fuel.
via Pacific Ethanol closing 2 plants for now – OregonLive.com.
* U. SAUCON TWP. | Olympus Corp. of the Americas announced restructuring Friday that includes an undisclosed number of local job reductions.
Without releasing specific numbers, the company said the cutbacks do not significantly reduce its area work force.
via Olympus Corp. announces local job cuts – lehighvalleylive.com.
* Borders Group, Inc., also says the store’s closing will affect about 100 employees.
via Magnificent Mile Shopping Examiner: Borders to close Mag Mile store.
* The bankrupt Northeast Biofuels ethanol plant near Fulton will layoff 25 of its 57 workers Wednesday, chief executive officer Brian Roach said today.
via Bankrupt ethanol plant announces layoffs in Oswego County – Today – syracuse.com.
* Lydall is consolidating its operations in North Carolina. The move means more than 200 people will lose their jobs.
via WCAX.COM Local Vermont News, Weather and Sports-Lydall Starts Layoffs.
* GAFFNEY, S.C. — Officials at a bearings factory in Gaffney said they are laying off 60 full-time employees.
via Gaffney Bearings Plant Cuts 60 Jobs – News Story – WHNS Greenville.
* Chemical maker A. Schulman (SHLM.O: Quote, Profile, Research) said on Monday it has withdrawn its fiscal 2009 outlook, as demand levels have not recovered since its fiscal first-quarter.
It also plans to cut 64 jobs and reduce production capacity by 5 percent.
via UPDATE 1-A. Schulman withdraws fiscal ’09 outlook, cuts jobs | Markets | US Markets | Reuters .
* RED DEER, Alta. — Stung by reduced drilling activity in the Canadian oilfield, High Arctic Energy Services Inc. (TSX:HWO) is taking measures to reduce costs through pay cuts and layoffs, and warns it has been unable to meet conditions of a key lending agreement.
The Red Deer, Alta.-based company, which provides drilling and related services to the oil and gas industry in Canada and abroad, says more than 30 office and shop employees were laid off last week.
via The Canadian Press: High Arctic announces layoffs, pay cuts, debt negotiations.
* Deerfield Beach-based automotive company JM Family Enterprises Inc. said today it’s shedding about 500 jobs, including roughly 250 in South Florida as part of a restructuring plan.
* LINCOLN, Neb. (AP) – Lester Electrical has announced another round of layoffs.
Mike Schukar, president of the Lincoln-based company, says 38 full-time workers were laid off on Thursday.
* March 2 (Bloomberg) — Anglo American Plc’s coal unit, which has closed two mines in Australia this year, will slash a further 650 staff from operations in the country and monitor future production amid a slump in demand.
* THE number of jobs slashed by mining companies in response to the global downturn has moved beyond 10,000, with mining giant Anglo American’s coal unit revealing more than 1000 job cuts in Queensland.
* The company said it would cut 500 jobs in the first four months of 2009, taking the number of job cuts since the start of the fourth-quarter to 1,000 and saving the company 19 million pounds ($26.97 million) in 2009.
* HUNDREDS of jobs are expected to be culled from the broadcasters ITV and Five this week as the industry struggles with collapsed advertising revenue.
ITV is to deliver its full-year results on Wednesday and is expected to cut 500 posts in an efficiency review. Five, owned by RTL, is likely to cut 100 jobs on Thursday – nearly a third of its 350-strong workforce, according to weekend reports. A Five spokesman confirmed the company would be speaking to staff.
via ITV and Five set to cut total of 600 jobs – Scotsman.com News .
* It has already made 40 members of staff redundant and yesterday’s announcement brings the number to almost 100. It is believed administrators are trying to make cuts in an attempt to keep the company ticking over while a buyer is sought.
via Troubled car company makes another 59 redundant – Northampton Chronicle and Echo .
* Wellington, March 2 NZPA – Sealord is seeking to cut 180 land-based jobs in Nelson and is not ruling out the closure of its plant there.
via Sealord To Cut 180 Land-Based Jobs | Business | Guide2.co.nz.
* ST LUKE’S Hospice is facing a £500,000 shortfall as the much-loved city charity becomes the latest casualty of the recession.
Five people have already been made redundant as the credit crunch makes a direct impact on the running of the Turnchapel-based organisation and there are worries that services for terminally ill patients could also be affected.
via St Luke’s Hospice, Turnchapel, Plymouth, axes jobs in cash crisis.
* Whitbread Plc, owner of the Premier Inn budget hotels, said fourth-quarter comparable sales fell as fewer people stayed at its hotels and announced that it cut 600 jobs. The shares dropped as much as 6 percent.
via Bloomberg.com: U.K. & Ireland.
* Danish ingredients group Danisco (DCO.CO) cut its full-year profit expectations on Monday and said it would lay off 200 employees due to lower demand.
via UPDATE 1-Danisco issues profit warning, cuts jobs | Industries | Consumer Goods & Retail | Reuters .
* The impact of the global financial crisis continues to take its toll in the automotive arena, with the announcement today that Melbourne-based Robert Bosch will be axing up to 170 jobs.
* The theme park is hiring 3,000 employees for the 2009 season, which runs April 10-Nov. 1. Positions include security, retail, admissions, entertainment, food services, park services, promotions, lifeguards and rides, Pinkerton said. Pay starts at minimum wage, $8 an hour, depending on position, and the park offers paid training, benefits, flexible schedules and free admission, she said.
via Six Flags planning on hiring 3,000 – MassLive.com.
Mike: More news later in the day…………..
Jeff Stahler - Mar 1
