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Unspeaked
Nov 11, 2008, 11:11 AM
So this was originally intended to be a thread tracking layoffs at major employers, both in the US and abroad.

When I started it in November, it was actually possible to check out press releases and news sites and keep a running total. Unfortunately (for this thread and the economy) things really picked up at the end of December and I was overwhelmed.

So... this has now turned into a general layoffs discussion. You can post here if you've been let go, if you know someone who has, if you're worried you will be or - of course - if you want to post links to related news items (I still try and post layoffs of 5,000+ employees since those are a bit more signifcant and easier to keep track of - but still happen more often than anyone would have believed last year).

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Consolidated list of reported layoffs since November 11, 2008, from oldest to newest:

GM - 1,900 (http://www.wellandtribune.ca/ArticleDisplay.aspx?e=1291066)

DHL - 9,500 (http://biz.yahoo.com/ap/081110/eu_germany_deutsche_post.html)

Nortel - 1,300 (http://biz.yahoo.com/ap/081110/earns_nortel.html)

Altria - 400 (http://ap.google.com/article/ALeqM5hR6t5SIgl4XusuxN92DDLr-KcDfwD94CRCBG3)

Volvo - 1,000 (http://ap.google.com/article/ALeqM5iz3hYwjQlaB41s_gFR6HaWPEkPJwD94CQECO1)

Glaxo - 600 (http://www.pharmalot.com/2008/11/glaxo-to-close-uk-plant-that-employs-620-workers/)

Whirlpool - 570 (http://www.nbc4i.com/midwest/cmh/news.apx.-content-articles-CMH-2008-11-11-0011.html)

Nokia - 1,820 (http://www.reuters.com/article/rbssCommunicationsEquipment/idUSHEL00685620081111)

Horizon Air - 70 (http://www.trafficworld.com/newssection/ocean.asp?id=48549)

Sun Microsystems - 200 (http://www.techflash.com/microsoft/Sun_cutting_200_workers_34211974.html)

BitTorrent - 18 (http://www.tgdaily.com/content/view/40126/118/)

Time, Inc - 600 (http://www.medialifemagazine.com/artman2/publish/Hereandthere/Time_Inc_s_looking_to_chop_600_more.asp)

The Boston Globe - 42 (http://www.medialifemagazine.com/artman2/publish/Hereandthere/Time_Inc_s_looking_to_chop_600_more.asp)

Scholastic - 110 (http://www.medialifemagazine.com/artman2/publish/Hereandthere/Time_Inc_s_looking_to_chop_600_more.asp)

Ameristar Casinos - 270 (http://www.lvrj.com/business/34259749.html)

Semitool - 100 (http://dailyinterlake.com/articles/2008/11/11/news/local_montana/news01.txt)

ATC Panels - 130 (http://www.canada.com/ottawacitizen/news/bustech/story.html?id=c10dca1d-7231-46e8-800a-eef0478c****)

The Seattle Times - 200 (http://crosscut.com/blog/crosscut/13208/)

Zappos.com - 80 (http://www.internetretailer.com/dailyNews.asp?id=28429)

Rubbermaid - 35 (http://www.semissourian.com/article/20081111/NEWS01/711119976/-1/news01)

Nissan - 1,700 (http://www.euronews.net/en/article/11/11/2008/spanish-nissan-layoffs-spark-protests/)

CondeNast - undisclosed (http://mediamemo.allthingsd.com/20081111/conde-nast-web-arm-condenets-turn-for-across-the-board-cuts/)

Marietta - 130 (http://www.cnybj.com/index.php?id=394&tx_ttnews%5Btt_news%5D=9229&tx_ttnews%5BbackPid%5D=1&cHash=8e6b0c2102)

Virgin Media - 2,200 (http://www.worldscreen.com/newscurrent.php?filename=virgin11118.htm)

InSight - 240 (http://www.istockanalyst.com/article/viewiStockNews+articleid_2788986.html)

Ceco - 35 (http://www.cdispatch.com/articles/2008/11/11/local_news/local02.txt)

Steelcase - 300 (http://www.mlive.com/grpress/business/index.ssf/2008/11/steelcase_inc_announces_possib.html)

Motorola - 2,600 (http://archives.chicagotribune.com/2008/apr/04/business/chi-fri-motorola-8k-jobcuts-motapr04)

Morgan Stanley - 4,400 (http://www.iht.com/articles/ap/2008/11/12/business/NA-US-Morgan-Stanley-Cuts.php)

Amylin Pharmaceuticals - 340 (http://www.newsinferno.com/archives/4183)

Luck Stone - 150 (http://www.inrich.com/cva/ric/news.apx.-content-articles-RTD-2008-11-12-0189.html)

Sirius XM - undisclosed (http://www.billboard.biz/bbbiz/content_display/industry/e3i4e32a4ca5b3c4e13633fefc9eb806fc3)

Mishmar Security - 700 (http://www.israelnationalnews.com/News/News.aspx/128363)

VMWare - 500 (rumored) (http://virtualizationreview.com/blogs/weblog.aspx?blog=2933)

St. Vincent Hospital - 74 (http://www.cbs42.com/news/local/34329689.html)

The Plain Dealer (Cleveland Newspaper) - 50 (http://www.wtte28.com/template/inews_wire/wires.regional.oh/3c16c1cf-www.wtte28.com.shtml)

Herman Miller - 400 (http://www.hfbusiness.com/story/story.bsp?sid=177907&var=story)

Electrolux - 99 (http://www.globegazette.com/articles/2008/11/12/news/latest/doc491ad77f174a5841563953.txt)

Southwire - 80 (http://www.wtvm.com/Global/story.asp?S=9334750)

Lund Boats - 140 (http://www.perhameb.com/articles/index.cfm?id=10330&section=News)

CI Financial - 60 (http://www.upi.com/Business_News/2008/11/12/More_cuts_in_Canadian_financial_job_market/UPI-94101226493640/)

Metacafe - 11 (http://www.globes.co.il/serveen/globes/DocView.asp?did=1000397186&fid=1725)

US Postal Service - As many as 16,000 (rumored) (http://www.federaltimes.com/index.php?S=3756027)

Bowne - 1,000 (http://www.graphicartsonline.com/article/CA6613836.html)

British Telecom - 10,000 (http://news.bbc.co.uk/1/hi/business/7726174.stm)

University of Texas Medical Branch - 3,800 (http://www.fiercehealthcare.com/story/utmb-galveston-layoff-nearly-4-000-employees/2008-11-13)

SAF-Holland - 700 (http://suburbanjournals.stltoday.com/articles/2008/11/12/warren/news/1112war-saf0.txt)

Cessna Aircraft - 665 (http://www.aero-news.net/index.cfm?ContentBlockID=56dda198-abb2-498d-9e0e-135b2a4af99d)

ADT - 380 (http://money.cnn.com/news/newsfeeds/articles/apwire/21b2647997418c01896ce29d83dbd1b1.htm)

Atlantis Resort - 800 (http://www.hotelchatter.com/story/2008/11/12/202937/88/hotels/The_Atlantis_Resort_Lays_Off_800_Workers)

Pizza Hut - undisclosed (http://sanantonio.bizjournals.com/dallas/stories/2008/11/10/daily38.html)

CanWest - 560 (http://www.ottawabusinessjournal.com/293084719408602.php)

City of Yonkers, NY - 300 (http://www.midhudsonnews.com/News/November08/13/Yonk_budget-13Nov08.html)

Las Vegas Sands - 11,000 (http://ap.google.com/article/ALeqM5hHRiVbaJeTApr9WUIqp8nUbxe6MAD94E1FK80)

Trane - 270 (http://www.chieftain.com/articles/2008/11/13/news/local/doc491bd8290988e349799310.txt)

QVC - 910 (http://www.dailylocal.com/articles/2008/11/13/news/srv0000004031487.txt)

Wayne-Dalton - 250 (http://www.pnj.com/article/20081113/NEWS01/811130334)

RBS - 3,000 (http://news.bbc.co.uk/2/hi/business/7728596.stm)

JCB - 400 (http://news.bbc.co.uk/2/hi/uk_news/england/staffordshire/7728075.stm)

dmr727 - 1 (rumored) (http://forums.macrumors.com/showthread.php?p=6605413#post6605413)

Sun - 6,000 (http://news.cnet.com/8301-1001_3-10097207-92.html?part=rss&subj=news&tag=2547-1_3-0-20)

Siemens - 434 (http://www.portclintonnewsherald.com/article/20081114/UPDATES01/81114010)

Columbus, OH - 130 (http://www.nbc4i.com/midwest/cmh/news.apx.-content-articles-CMH-2008-11-14-0010.html)

Citigroup - 10,000 (http://www.marketwatch.com/news/story/citigroup-slashing-jobs-raising-card/story.aspx?guid=%7BB84C542E-4153-48FF-9497-E406C01EC9DA%7D&dist=msr_5)

Lund - 140 (http://www.fergusfallsjournal.com/news/2008/nov/14/lund-lays-140-nym/)

Riverside Furniture - 250 (http://www.hfbusiness.com/story/story.bsp?sid=178100&var=story)

Eesti Põlevkivi - 300 (http://balticbusinessnews.com/Default2.aspx?ArticleID=e4b3285d-edb0-4e50-bc1c-acf7dc7d5186&open=sec)

Orrick - 75 (http://business.timesonline.co.uk/tol/business/law/article5153583.ece)

Midway Chicago - 20-30 (http://www.incgamers.com/Games/1963/News/Midway-Chicago-Layoffs/14283)

US Steel - 677 (http://www.journalgazette.net/apps/pbcs.dll/article?AID=/20081114/BIZ/811140301)

Ranger Boats - 130 (http://www.nwanews.com/adg/News/243454/)

Morongo Casino - 95 (http://www.mydesert.com/article/20081114/BUSINESS/811130378/1003/business)

Amphenol Corp - 202 (http://www.thedailystar.com/local/local_story_319040010.html)

MeadWestvaco - 56 (http://www.thedailystar.com/local/local_story_319040010.html)

Air Finland - 100 (http://newsroom.finland.fi/stt/showarticle.asp?intNWSAID=20299&group=Business)

Royal Bank of Scotland - 3,000 (http://www.dailyrecord.co.uk/news/scottish-news/2008/11/14/double-jobs-blow-as-royal-bank-of-scotland-and-bt-axe-13-000-86908-20893430/)

Compass - 150 (http://www.star-telegram.com/100/story/1038582.html)

Kenworth Truck - 430 (http://www.komonews.com/news/local/34479589.html)

United Launch Alliance - 350 (http://www.rockymountainnews.com/news/2008/nov/14/ula-rocket-venture-cut-350-jobs/)

TheStreet.com - undisclosed (http://www.portfolio.com/views/blogs/mixed-media/2008/11/14/breaking-thestreetcom-shuts-sf-office) (Entire San Francisco office shut down.)

Kenworth - 421 (http://seattlepi.nwsource.com/business/387874_kenworthcuts15.html?source=mypi)

Paccar - 430 (http://seattletimes.nwsource.com/html/businesstechnology/2008391517_webpaccar14.html)

Gillette Stadium/New England Patriots - undisclosed (http://www.bostonherald.com/business/general/view.bg?articleid=1132446)

Jewelry TV - 30 (http://www.waaytv.com/Global/story.asp?S=9351169)

Kinro - 143 (http://mfrtech.com/articles/1535.html)

Chicago, IL - undisclosed (http://www.howestreet.com/articles/index.php?article_id=7945) (rumored, "Huge amounts.")

Citigroup - 53,000 (http://biz.yahoo.com/ap/081117/citigroup_jobs.html)

Simmons - 560 (http://www.hfbusiness.com/story/story.bsp?sid=178161&var=story)

Yahoo - undisclosed (http://searchengineland.com/yahoo-layoffs-on-dec-10-at-11-yahoo-now-significantly-undervalued-15493.php) (rumored)

HSBC - 450 (http://www.google.com/hostednews/afp/article/ALeqM5g3ICVO-gYWt_OEEsHwb5f_x78mDA)

Putnam Investments - 47 (http://news.bostonherald.com/business/general/view/2008_11_17_Putnam_Investments_lays_off_47__announces_restructuring/srvc=home&position=5)

NASCAR - undisclosed (http://www.lehighvalleylive.com/sports/index.ssf/2008/11/race_on_sunday_gone_on_monday.html) (rumored)

Kinro Inc. - 143 (http://www.kpcnews.com/articles/2008/11/17/greater_fort_wayne/news/today/11-17story2.txt)

Beaumont Hospital - 500 (http://www.wwj.com/Beaumont-Hospital-Announces-Layoffs/3334775)

Focus on the Family - 149 (http://www.gazette.com/news/focus_43586___article.html/lays_eliminationg.html)

Volvo - 350 (http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSLH15971220081117)

Oral Roberts University - 100 (http://www.timesrecordnews.com/news/2008/nov/17/oru-lay-100-employees/)

Freeport McMoRan Mining - 600 (http://www.azstarnet.com/sn/biz-topheadlines/267611.php)

California State Automobile Association - 104 (http://www.bizjournals.com/sacramento/stories/2008/11/17/daily8.html)

Chrysler Financial Canada - 145 (http://www.reuters.com/article/marketsNews/idUSN1829210220081118)

Wyeth - 118 (http://www.wptz.com/news/18008928/detail.html)

Boise Inc. - 300 (http://www.kptv.com/news/18005882/detail.html)

Mervyns - 280 (http://www.istockanalyst.com/article/viewiStockNews+articleid_2810713.html)

Universal Veneer - 48 (http://www.newarkadvocate.com/article/20081118/UPDATES01/81118022)

Hanford - 65 (http://www.istockanalyst.com/article/viewiStockNews+articleid_2810512.html)

Macomb County, MI - 250 (http://www.freep.com/article/20081118/NEWS04/81118048)

Solutia - 300 (http://money.cnn.com/news/newsfeeds/articles/apwire/1719c14854b6dff28260379c5199d269.htm)

SAP - undisclosed (http://blogs.zdnet.com/BTL/?p=10913) (rumored)

Museum of the Rockies - 5 (http://www.greatfallstribune.com/article/20081118/NEWS01/81118007)

LeapFrog - 70 (http://www.playthings.com/article/CA6615547.html)

Wolseley Plc. - 2,300 (http://www.bloomberg.com/apps/news?pid=20601102&sid=aWvwxV3EWllk&refer=uk)

United States Gypsum - 113 (http://jacksonville.bizjournals.com/jacksonville/stories/2008/11/17/daily12.html?surround=lfn&brthrs=1)

Finch Paper - 44 (http://www.bizjournals.com/albany/stories/2008/11/17/daily16.html)

ABX Air Inc. - 158 (http://www.daytondailynews.com/b/content/oh/story/business/2008/11/18/ddn111808dhlweb.html)

Stillwater Mining - 370 (http://money.cnn.com/news/newsfeeds/articles/apwire/4c3b01aa9bcf52e236d7ba1297fd3414.htm)

Pilgrim's Pride - 335 (http://www.wkyx.com/local-news-details.asp?NewsID=8845)

Vulcan Materials - 38 (http://www.pitandquarry.com/pitandquarry/News+Watch/Vulcan-announces-temporary-layoffs/ArticleStandard/Article/detail/566743)

BlackRock - undisclosed (http://www.streetinsider.com/Insiders+Blog/BlackRock+(BLK)+To+Cut+Employees+This+Week/4173933.html)

Magnussen Home - 22 (http://www.furnituretoday.com/article/49238-Furniture_importer_Magnussen_Home_laying_off_22_workers.php)

Pepsi Bottling - 1,000 (http://online.wsj.com/article/SB122701245505836979.html)

Miami, FL Public Schools - 100's (http://cbs4.com/local/miami.dade.school.2.867356.html) (rumored)

Miller Electric Mfg. Co. - 95 (http://www.marketwatch.com/news/story/Miller-Electric-Mfg-Co-Cut/story.aspx?guid=%7B0D8082F2-1AAE-4CFB-A0C2-DA470747E60C%7D)

CTVglobemedia Inc. - undisclosed (http://www.edmontonsun.com/Business/News/2008/11/19/7462876.html)

RY Timber Co - 100 (http://www.greatfallstribune.com/article/20081119/NEWS01/81119002)

JLG Industries, Inc. - 30 (http://www.grandforksherald.com/ap/index.cfm?page=view&id=D94I3OG00)

Washington Mutual - 3,000 (http://seattlest.com/2008/11/19/3000_wamu_employees_to_lose_jobs.php)

Miniature Precision Components Inc. - 94 (http://www.bizjournals.com/milwaukee/stories/2008/11/17/daily21.html)

Hyrdo-Air Components Inc. - 30 (http://www.bizjournals.com/buffalo/stories/2008/11/17/daily26.html)

Lawson Software - 200 (http://www.minnpost.com/businessagenda/2008/11/19/4699/lawson_software_life_time_fitness_announce_layoffs_also_justice_investigating_medtronic_product_and_ ackman_presents_revised_real_estate_pitch_to_target)

Life Time Fitness - 100 (http://www.minnpost.com/businessagenda/2008/11/19/4699/lawson_software_life_time_fitness_announce_layoffs_also_justice_investigating_medtronic_product_and_ ackman_presents_revised_real_estate_pitch_to_target)

Great Dane Trailers - 100 (http://www.insideindianabusiness.com/newsitem.asp?ID=32651)

Emerson Electric - 49 (http://www.kait8.com/Global/story.asp?S=9377788&nav=0jsh)

Neptune Orient Lines Ltd. - 1,000 (http://www.google.com/hostednews/ap/article/ALeqM5jJXpIZ0i7IU66Zm0oSyL3izvGBUAD94I2IMO0)

La-Z-Boy - 850 (http://www.manufacturing.net/News-La-Z-Boy-Eliminating-850-Jobs.aspx)

Hall of Fame Racing - undisclosed (http://www.signonsandiego.com/sports/20081119-9999-1s19digest.html)

KLA-Tencor Corp - 900 (http://www.edn.com/article/CA6615823.html)

Kohler Co. - 73 (http://www.fdlreporter.com/article/20081119/FON0101/311190042/1985)

Washington National Cathedral - 41 (http://www.washingtonpost.com/wp-dyn/content/story/2008/11/19/ST2008111900926.html)

Virgin Mobile - 45 (http://money.cnn.com/news/newsfeeds/articles/apwire/d8fb9090b841b7f2cf25f23b249c1dfd.htm)

Palgrave Brown - 207 (http://www.builderandengineer.co.uk/news/general/more-jobs-go-at-palgrave-brown-2971.html)

Electronic Arts - undisclosed (http://www.casualgaming.biz/news/27939/EA-kills-off-mysterious-Blueprint-division)

Pomoho.com - 30 (http://www.pacificepoch.com/newsstories?id=135828_0_5_0_M)

Snorkely - 185 (http://www.stjoenews.net/news/2008/nov/19/Snorkel/?breaking)

TiVo - undisclosed (http://www.alleyinsider.com/2008/11/layoffs-come-to-tivo)

Boeing - 800 (http://money.cnn.com/news/newsfeeds/articles/apwire/ec46505cd79413c0bdf0105c8dc5520d.htm)

Bell Aliant - 300 (http://www.google.com/hostednews/canadianpress/article/ALeqM5he4C3x1jVO4RUP-v3E2vMBzh39wg)

El Dorado, CA - 90 (http://www.sacbee.com/latest/story/1411843.html)

Louisiana-Pacific Corp. - 200 (http://sanantonio.bizjournals.com/nashville/stories/2008/11/17/daily19.html)

International Paper - 1,050 (http://hamptonroads.com/2008/11/international-paper-offer-severances-more-1000)

Hanes Brands, Inc. - 155 (http://sanantonio.bizjournals.com/triad/stories/2008/11/17/daily24.html)

JP Morgan - 3,000 (http://finance.yahoo.com/news/JPMorgan-cuts-investment-rb-13635809.html)

Steve & Barry - 5,000 (http://seattletimes.nwsource.com/html/businesstechnology/2008416076_webstevebarry20.html)

Days of Our Lives - 2 (http://www.9news.com/life/entertainment/article.aspx?storyid=104313&catid=343)

Associated Press - 400 (http://money.cnn.com/news/newsfeeds/articles/djf500/200811201456DOWJONESDJONLINE000825_FORTUNE5.htm)

Pennsylvania Turnpike - 20 (http://www.forbes.com/feeds/ap/2008/11/20/ap5722894.html)

Trinity Structural Towers - 131 (http://www.kjrh.com/mostpopular/story.aspx?content_id=28426475-1113-4490-8c11-2dba32e976ef)

Dematic Corp. - 30 (http://www.mlive.com/grpress/business/index.ssf/2008/11/dematic_corp_lays_off_30_white.html)

Akamai - 110 (http://www.xchangemag.com/hotnews/akamai-to-layoff-110-in-restructuring.html)

Aerisyn - 54 (http://www.wrcbtv.com/Global/story.asp?S=9386640)

Buckeye - 39 (http://www.azcentral.com/community/swvalley/articles/2008/11/20/20081120swv-council1121.html)

Telefonica - 500 (http://www.reuters.com/article/rbssTechMediaTelecomNews/idUSLK58303720081120)

Mesa, AZ - 346 (http://www.azcentral.com/community/mesa/articles/2008/11/20/20081120mr-mesabudget1120-ON.html)

LodgeNet Interactive Corp. - 30 (http://www.keloland.com/NewsDetail6162.cfm?Id=0,76713)

Intevac - 66 (http://money.cnn.com/news/newsfeeds/articles/apwire/27e6d247e62bdd72593b84056c83e79b.htm)

PSA Peugeot Citroen - 3,500 (http://www.industryweek.com/ReadArticle.aspx?ArticleID=17858)

The First - 13 (http://www.hattiesburgamerican.com/article/20081120/BUSINESS/811200319)

Isuzu Motors - 1,400 (http://sify.com/finance/fullstory.php?id=14802359)

Ingersoll-Rand - 110 (http://www.wral.com/news/state/story/3994658/)

Rolls Royce - 2,000 (http://news.bbc.co.uk/1/hi/business/7739026.stm)

edesignuk
Nov 11, 2008, 11:13 AM
You can probably easily double that with all the finance worlds redundancies.

notjustjay
Nov 11, 2008, 12:07 PM
I hope this doesn't come across the wrong way, because I really do sympathize with everyone who loses his/her job -- I've been there, and I know how depressing and upsetting it is.

But, I've also been on the management side of some organizations and I've seen the effects of bloat. This is an unfortunate wake-up call to some companies that they need to find more efficient ways of running things.

I live in a city that was once a dozen individual townships and cities that were amalgamated into one. They cited the benefits of one single city administration instead of a dozen; it would be leaner, meaner, faster, and cheaper. But when it came down to it, nobody had the guts to "trim the fat", and now in addition to everyone we had before, we have thousands MORE workers and the same problem. Nobody wants to step up and say we need to reduce the overhead.

I hope that the people who are laid off quickly find better jobs, and the companies doing the layoffs quickly discover how to run themselves efficiently so they can tough it out in this economic climate.

Unspeaked
Nov 11, 2008, 12:14 PM
...

I think that's a good way to look at it, and makes a lot of sense when looking at a single corporation or even a single industry, but I think it's the scale of the recent layoffs - across hundreds of players in dozens of industries - that makes it different.

Temp agencies are flooded. People with master's degrees are taking jobs as receptionists. I don't recall anytime in the past when the job market was this grim (at least in the US).

teflon
Nov 11, 2008, 01:06 PM
Temp agencies are flooded. People with master's degrees are taking jobs as receptionists. I don't recall anytime in the past when the job market was this grim (at least in the US).

It was worse during the Great Depression.

localoid
Nov 11, 2008, 01:33 PM
It was worse during the Great Depression.

Yes, much worse. About 25% unemployment and no 'safety net' programs in place such as unemployment payments, food stamps, welfare payments or medical cards.

Just outside the town I live in you can still find silverware in the old beehive coke ovens (http://cs101.wvu.edu/media/1/10/11/Beehive_Coke_Ovens_near_Coketon.jpg), left there by families that lived in them during the Great Depression because they had no place else to live.

Unspeaked
Nov 11, 2008, 01:58 PM
It was worse during the Great Depression.

Of course.

Thankfully, I'm not 80 years old so - as I said - I don't RECALL anytime in the past when the job market's been this grim...

teflon
Nov 11, 2008, 02:40 PM
Of course.

Thankfully, I'm not 80 years old so - as I said - I don't RECALL anytime in the past when the job market's been this grim...

Sorry, I interpreted it as you never known such grim job market in history in the general sense, not personally.
However, I feel that it's a good thing that the economy is down. It can't keep on climbing up, often at the expense of the environment. If the average earning is lower, than many people would choose to take public transit rather than keeping their own car. People would choose to take their bottles to recycling to get back their deposit. People would stop wasting so much resources, by not buying things that they don't need. A large part of the economy was built on people buying things with the money that they don't actually have, whether it be computers, cars or houses. It's time that people learn some self restraint and finance (and for credit/mortgage companies to reign in their greed and stupidity). I don't mean to harsh, and it's horrible that thousands of families will be troubled by it, but I think it's for the best in the end.

Unspeaked
Nov 11, 2008, 03:02 PM
Sorry, I interpreted it as you never known such grim job market in history in the general sense, not personally.

No problem, I can see how my original statement was unclear...


However, I feel that it's a good thing that the economy is down. It can't keep on climbing up, often at the expense of the environment. If the average earning is lower, than many people would choose to take public transit rather than keeping their own car. People would choose to take their bottles to recycling to get back their deposit. People would stop wasting so much resources, by not buying things that they don't need. A large part of the economy was built on people buying things with the money that they don't actually have, whether it be computers, cars or houses. It's time that people learn some self restraint and finance (and for credit/mortgage companies to reign in their greed and stupidity). I don't mean to harsh, and it's horrible that thousands of families will be troubled by it, but I think it's for the best in the end.

Well, I wouldn't go as far as to say I consider this a good thing, but I do agree that there's some lessons to be learned and - assuming things turn around in a fair amount of time - it will be great of those lessons stay with folks going forward.

But seeing thousands of people losing their jobs each day over a prolonged period of time is rough...

JNB
Nov 11, 2008, 03:14 PM
If one can't recall a worse job market, then they're either under 20 or haven't been paying attention until just lately. In recent years, it has been much worse: in 1975, the US hit 9% unemployment. 1980, 7.7%. 1982, 10.8%. 1992, 7.8%. The current number will likely rise some more, but still not anything near a crisis. Remember that during the Depression unemployment was double-digit for ten years, peaking at 24.75% in 1933--and that was just the US. Remember, too, that anything under 4-6% is considered an natural rate of unemployment. We're at all of 6.5% now.

Many of the jobs lost were either overly high-paying for the actual worth (financial sector), union-protected--and bloated (manufacturing sector), or insanely redundant (consumer retail). In other words, jobs that are always lost in a downturn, every time.

For those that are overly concerned, relax. It will turn back, sooner or later, it always does. It's not the end of the world. It may be a year, or five, or more, but if one keeps their head about them and does a little forward thinking, they'll do just fine. I have every time, and it's not like I have any special advantage or insight. I just don't freak out every time one of these shows up, is all.

Unspeaked
Nov 11, 2008, 03:40 PM
If one can't recall a worse job market, then they're either under 20 or haven't been paying attention until just lately. In recent years, it has been much worse: in 1975, the US hit 9% unemployment. 1980, 7.7%. 1982, 10.8%. 1992, 7.8%. The current number will likely rise some more, but still not anything near a crisis. Remember that during the Depression unemployment was double-digit for ten years, peaking at 24.75% in 1933--and that was just the US. Remember, too, that anything under 4-6% is considered an natural rate of unemployment. We're at all of 6.5% now.

Well, even using your own figures, it looks like you'd have to be around 35 to remember a worse job market.

That would make you round 18 or 19 during most recent unemployment dip you mention (1992), just old enough to be entering the workforce.

For those that went to college, you'd have to be close to 40 (because anyone in college in 1992 didn't really feel what was going on economically).

Oddly enough, there was a NPR Podcast about this very topic - the hosts were all in their late 30s and were commenting on how this was the first recession they were truly aware of, since any that had occurred in their lifetimes prior to this one were at points in there lives where they went unnoticed.

Unspeaked
Nov 11, 2008, 03:53 PM
A list of layoffs made public just since I started this thread less than five hours ago:


The Seattle Times - 200 (http://crosscut.com/blog/crosscut/13208/)

Zappos.com - 80 (http://www.internetretailer.com/dailyNews.asp?id=28429)

Rubbermaid - 35 (http://www.semissourian.com/article/20081111/NEWS01/711119976/-1/news01)

Nissan - 1,700 (http://www.euronews.net/en/article/11/11/2008/spanish-nissan-layoffs-spark-protests/)

CondeNast - Undisclosed (http://mediamemo.allthingsd.com/20081111/conde-nast-web-arm-condenets-turn-for-across-the-board-cuts/)

Marietta - 130 (http://www.cnybj.com/index.php?id=394&tx_ttnews%5Btt_news%5D=9229&tx_ttnews%5BbackPid%5D=1&cHash=8e6b0c2102)

Virgin Media - 2,200 (http://www.worldscreen.com/newscurrent.php?filename=virgin11118.htm) (I know there's another thread on this one...)

InSight - 240 (http://www.istockanalyst.com/article/viewiStockNews+articleid_2788986.html)

Ceco - 35 (http://www.cdispatch.com/articles/2008/11/11/local_news/local02.txt)

Steelcase - 300 (http://www.mlive.com/grpress/business/index.ssf/2008/11/steelcase_inc_announces_possib.html)

mkrishnan
Nov 11, 2008, 03:55 PM
That would make you round 18 or 19 during most recent unemployment dip you mention (1992), just old enough to be entering the workforce.

This is definitely getting to be nit-picking... so if you were 14 when the bubble burst, you have no memory of it? :p

That aside, the time I remember personally was 2001-2002, right after 9/11... the unemployment picture was worse then also, wasn't it? The layoffs were astounding in that 10 month or so period.

But in any event, the layoffs are unfortunate, and they're devastating to the people they affect, but what does differentiate this from most of those situations in the 1980s-2000's is the magnitude of the underlying economic crisis. In a more overall economic sense, this has the potential to be much, much worse than anything save possibly the Great Depression, and the vote is out on whether it could be even worse than that. But thankfully it isn't there yet, and it might yet not get there...

Unspeaked
Nov 11, 2008, 04:11 PM
This is definitely getting to be nit-picking... so if you were 14 when the bubble burst, you have no memory of it? :p

It's true that you remember it, but the point I was making (and that NPR made far more eloquently than I ever could have) is... take as an example a 13 or 14 year old today. Yes, they know things are bad and people are losing homes and their jobs. But they don't really grasp what it's like to try and find a job if you don't have one, or what it's like to be worried about being given a pink slip, or to see your 401k fall into a black hole.

If you ask these kids in 10 or 20 years what things were like in 2008 (assuming they turn around!) they'll remember Jack Black movies and Nintendo Wiis and maybe Obama winning an election, but not necessarily the economy...

That aside, the time I remember personally was 2001-2002, right after 9/11... the unemployment picture was worse then also, wasn't it? The layoffs were astounding in that 10 month or so period.

Actually, I'm pretty sure things were worse employment wise now than post-9/11.

I know it seemed bad at the time, but the unemployment rate is higher now, foreclosures are much higher, and the markets nearly as low (DOW, S&P, NASDAQ).

mkrishnan
Nov 11, 2008, 04:18 PM
Actually, I'm pretty sure things were worse employment wise now than post-9/11.

Yeah, the rates are higher now (but only as of about four days ago (http://www.npr.org/templates/story/story.php?storyId=96756684)...) I meant more, I guess, in a rate of change sense. The acceleration of jobless claims at that time seems more extreme than it is now. But I can't find data to back that up. And... it was pretty bad overall. I mean it was worse than the current crisis a week ago. :o

Foxglove9
Nov 11, 2008, 05:20 PM
My job is certainly in jeopardy in the next 2 months, I've already been told.

Took me 6 months to find work back when the economy was supposed to be going pretty well. I can only imagine how hard it is going to be this time around.

notjustjay
Nov 11, 2008, 06:44 PM
That aside, the time I remember personally was 2001-2002, right after 9/11... the unemployment picture was worse then also, wasn't it? The layoffs were astounding in that 10 month or so period.

That's about the time I got my crash course in world economics as well. I'd graduated in 2000 with an engineering degree, jumping right into a tech job with a telecom company, right at the height of the dot-com bubble. We were receiving salary increases every few months just to keep competitive. I'd been bumped up by $20,000 in a period of a year and a half.

Then the dot-com bubble burst, the layoffs began. Then 9/11, and it just got worse. Nortel for example announced wave after wave after wave of cuts. My dad worked for Nortel at the time, and we were very concerned for his job. "Don't worry dad," I remember saying, "I'm making good money, I could support the family for a while if you lost your job."

Then one Tuesday morning in October 2001 I walked into work only to find myself back out in the parking lot 20 minutes later.

I remember it as a very depressing and bleak few years, but I took the opportunity to go back to school, got a Master's Degree, and found another job shortly after that when times were better.

Here's hoping I can ride it out better this time.

localoid
Nov 11, 2008, 07:00 PM
Unemployment rate and all recessions since 1948:

http://static.seekingalpha.com/uploads/2008/6/6/unemployment_1_thumb1.jpg

In October 2008, the unemployment rate rose from 6.1 to 6.5 percent. In June of 2003 it was 6.30 percent.

The US Unemployment Rate -- January 1948 to September 2008 (http://www.miseryindex.us/urbymonth.asp)

GoCubsGo
Nov 11, 2008, 07:24 PM
However, I think with the sheer volume of these announcements lately, it deserves its own thread.


Lately?

This is 2008 alone. My company laid off 10,000 people in 2007/2008.
California WARN notices alone. (http://www.edd.ca.gov/Jobs_and_Training/Layoff_Services_WARN.htm#ListingofWARNNotices)

JNB
Nov 11, 2008, 07:42 PM
Well, even using your own figures, it looks like you'd have to be around 35 to remember a worse job market.

That would make you round 18 or 19 during most recent unemployment dip you mention (1992), just old enough to be entering the workforce.

Let's just say that the first one I mentioned (not the Depression, mind you ;)), I had already been in the workforce a number of years and experienced the joy of it firsthand. I started working during the latter years of the Great Society.

With the penetration and round-the-clock nature of media today, we're just hammered with it endlessly, making it all seem much worse, particularly for those that have no personal experience to relate to. The '70's were a particularly bad era, with unemployment, inflation, and interest rates all conspiring to put us all in a deep economic funk. The "Misery Index" of the Carter years did nothing to improve our collective moods.

For all the woes right now, this is really all part of a greater realignment, and things will get better. Folks will get retrained, industries will adjust, and markets will rebound. I know this is of no solace here & now to those directly affected, but then it never is on an individual level. All one can do is keep an eye on the bigger picture and try to keep themselves positioned as best they can.

I guess I'm just saying that I have personally witnessed--and endured--worse times than these, and I'm still here, still have a job and a roof over my head (and have had times of neither). I don't consider myself either lucky or blessed, nor particularly prescient, just aware. Good times and bad, this too shall pass.

Unspeaked
Nov 12, 2008, 12:28 AM
Lately?

This is 2008 alone. My company laid off 10,000 people in 2007/2008.
California WARN notices alone. (http://www.edd.ca.gov/Jobs_and_Training/Layoff_Services_WARN.htm#ListingofWARNNotices)

I realize there are always companies laying off people from time to time, but there has been a noticeable spike since September.

You can't possibly be saying you don't notice a huge increase in layoffs since the sub-prime mortgage fiasco took off in late summer...?

DZ/015
Nov 12, 2008, 02:57 AM
As JNB stated, it was worse in the 70s. High unemployment, higher interest rates (15% at the end of the Carter years). I hit the layoff market in 2003. It took me 7 months to find a job. That sucked, bad. Today is good by yesterday's standards.

Unspeaked
Nov 12, 2008, 03:13 AM
As JNB stated, it was worse in the 70s. High unemployment, higher interest rates (15% at the end of the Carter years). I hit the layoff market in 2003. It took me 7 months to find a job. That sucked, bad. Today is good by yesterday's standards.

Interest rates are a double edged sword.

In the 70s, they were trying to curb inflation.

Today, they're trying to prevent deflation.

LethalWolfe
Nov 12, 2008, 03:15 AM
A few months before 9/11 I headed west even though the entertainment industry was already on the rocks. Needless to say things didn't go too well. I was basically unemployed for 10 months (a few gigs here and there), then worked in retail for 6 months. Then got a real job but was laid off after only 4 months. I looked for work for another 2 months before ending up back in retail. 6 months later I finally landed another real job (and have had pretty steady work ever since). Not exactly how I envisioned my first few years out of college.:D


Lethal

rhett7660
Nov 12, 2008, 07:53 AM
Motorola too: 2600

http://archives.chicagotribune.com/2008/apr/04/business/chi-fri-motorola-8k-jobcuts-motapr04

Unspeaked
Nov 12, 2008, 11:35 AM
This morning's cuts:

Morgan Stanley - 4,400 (http://www.iht.com/articles/ap/2008/11/12/business/NA-US-Morgan-Stanley-Cuts.php)

Amylin Pharmaceuticals - 340 (http://www.newsinferno.com/archives/4183)

Luck Stone - 150 (http://www.inrich.com/cva/ric/news.apx.-content-articles-RTD-2008-11-12-0189.html)

Sirius XM - undisclosed (http://www.billboard.biz/bbbiz/content_display/industry/e3i4e32a4ca5b3c4e13633fefc9eb806fc3)

Mishmar Security - 700 (http://www.israelnationalnews.com/News/News.aspx/128363)

VMWare - 500 (rumored) (http://virtualizationreview.com/blogs/weblog.aspx?blog=2933)

St. Vincent Hospital - 74 (http://www.cbs42.com/news/local/34329689.html)

The Plain Dealer (Cleveland Newspaper) - 50 (http://www.wtte28.com/template/inews_wire/wires.regional.oh/3c16c1cf-www.wtte28.com.shtml)

Herman Miller - 400 (http://www.hfbusiness.com/story/story.bsp?sid=177907&var=story)

Electrolux - 99 (http://www.globegazette.com/articles/2008/11/12/news/latest/doc491ad77f174a5841563953.txt)

Southwire - 80 (http://www.wtvm.com/Global/story.asp?S=9334750)

Lund Boats - 140 (http://www.perhameb.com/articles/index.cfm?id=10330&section=News)

CI Financial - 60 (http://www.upi.com/Business_News/2008/11/12/More_cuts_in_Canadian_financial_job_market/UPI-94101226493640/)

Metacafe - 11 (http://www.globes.co.il/serveen/globes/DocView.asp?did=1000397186&fid=1725)

And if all that wasn't enough, the US Postal Service is considering its first layoffs ever:

US Postal Service - As many as 16,000 (rumored) (http://www.federaltimes.com/index.php?S=3756027)

takao
Nov 12, 2008, 11:43 AM
And if all that wasn't enough, the US Postal Service is considering its first layoffs ever:

US Postal Service - As many as 16,000 (rumored) (http://www.federaltimes.com/index.php?S=3756027)

that's not nearly as drastic as the austrian postal service just announcing that they want to cut 9.000 of their postal workers until 2012 if you compare the size .. it sure cause a huge uproar

oh and austrian wienerberger wants to close 27 of their roughly 200 factories

Unspeaked
Nov 12, 2008, 11:49 AM
that's not nearly as drastic as the austrian postal service just announcing that they want to cut 9.000 of their postal workers until 2012 if you compare the size .. it sure cause a huge uproar

oh and austrian wienerberger wants to close 27 of their roughly 200 factories

Man, between all that and DHL - what's going on with the shipping business??

takao
Nov 12, 2008, 11:58 AM
Man, between all that and DHL - what's going on with the shipping business??

well the irony is that they currently make _profits_ ... seriously who guess around saying "we made profits this year ... oh and BTW we are going to fire nearly 40% of our workers over the next 3 years"

and austrian telecom also wants to fire a few hundreds or so (while making profits)

Iscariot
Nov 12, 2008, 01:28 PM
Bowne (http://www.graphicartsonline.com/article/CA6613836.html) - 1 000

iShater
Nov 12, 2008, 01:46 PM
Ooh, I didn't realize Herman Miller was planning cuts. That might explain how some of the jobs they posted online got removed a day after they got posted. :o

Day before Thanksgiving is the last day in my current contract, and so far no luck in finding something else. The double whammy is that as a contractor you don't really get counted in these company layoffs, and in most states you do not qualify for unemployment benefits. Ooops. :p

Now, a big issue with any down economy is savings. Most people don't save, and when their income is hit, they are not prepared. I for one heeded the "you should save six months worth of expenses just in case" and worked very hard to save. I am not quite at that level, and some recent unplanned expenses mean I will be hitting the savings account sooner than later.

Unspeaked
Nov 12, 2008, 02:08 PM
Now, a big issue with any down economy is savings. Most people don't save, and when their income is hit, they are not prepared. I for one heeded the "you should save six months worth of expenses just in case" and worked very hard to save. I am not quite at that level, and some recent unplanned expenses mean I will be hitting the savings account sooner than later.

I think having any savings at all puts you ahead of a lot of other Americans.

And if worst comes to worst, you can always sell one of the three computers in your sig...

:p

mkrishnan
Nov 12, 2008, 02:12 PM
I think having any savings at all puts you ahead of a lot of other Americans.

But this is also always a dilemma of recessions... as I understand it, Japan's difficulty in exiting their last major recession was caused in significant part by people saving too aggressively -- money was going into the bank, and so economic stimuli did not bring about consumer spending, which in turn could not bring about improved performance of retail or in the service sector, which in turn held the manufacturing industry back, etc.

On the other hand, American savings are too low...

iShater
Nov 12, 2008, 03:07 PM
I think having any savings at all puts you ahead of a lot of other Americans.

And if worst comes to worst, you can always sell one of the three computers in your sig...

:p

Plan X! :eek:

But this is also always a dilemma of recessions... as I understand it, Japan's difficulty in exiting their last major recession was caused in significant part by people saving too aggressively -- money was going into the bank, and so economic stimuli did not bring about consumer spending, which in turn could not bring about improved performance of retail or in the service sector, which in turn held the manufacturing industry back, etc.

On the other hand, American savings are too low...
People should save BEFORE poop hits the fan. Tightening up the purse during the bad times is what you are talking about, and I am sure you are hearing about it.

I did my part, I bought a $2k laptop 2 weeks ago to keep the economy going. :D

dshady75
Nov 12, 2008, 10:33 PM
I think that's a good way to look at it, and makes a lot of sense when looking at a single corporation or even a single industry, but I think it's the scale of the recent layoffs - across hundreds of players in dozens of industries - that makes it different.

Temp agencies are flooded. People with master's degrees are taking jobs as receptionists. I don't recall anytime in the past when the job market was this grim (at least in the US).

Well when people get masters in Woman Studies in the Congo, I believe it might be difficult to get a job.

dshady75
Nov 12, 2008, 10:34 PM
I also hear that the USPS....(Postal Workers) is laying off almost 40,000 people.

edesignuk
Nov 13, 2008, 03:19 AM
British Telecom (http://news.bbc.co.uk/1/hi/business/7726174.stm) - 10,000 :eek:

Unspeaked
Nov 13, 2008, 10:02 AM
And in addition to the massive BT layoffs, this morning's other cuts are also mainly in the 3 and 4 figures:

University of Texas Medical Branch - 3,800 (http://www.fiercehealthcare.com/story/utmb-galveston-layoff-nearly-4-000-employees/2008-11-13)

SAF-Holland - 700 (http://suburbanjournals.stltoday.com/articles/2008/11/12/warren/news/1112war-saf0.txt)

Cessna Aircraft - 665 (http://www.aero-news.net/index.cfm?ContentBlockID=56dda198-abb2-498d-9e0e-135b2a4af99d)

ADT - 380 (http://money.cnn.com/news/newsfeeds/articles/apwire/21b2647997418c01896ce29d83dbd1b1.htm)

Atlantis Resort - 800 (http://www.hotelchatter.com/story/2008/11/12/202937/88/hotels/The_Atlantis_Resort_Lays_Off_800_Workers)

Pizza Hut - undisclosed (http://sanantonio.bizjournals.com/dallas/stories/2008/11/10/daily38.html)

CanWest - 560 (http://www.ottawabusinessjournal.com/293084719408602.php)

City of Yonkers, NY - 300 (http://www.midhudsonnews.com/News/November08/13/Yonk_budget-13Nov08.html)

Las Vegas Sands - 11,000 (http://ap.google.com/article/ALeqM5hHRiVbaJeTApr9WUIqp8nUbxe6MAD94E1FK80)

Trane - 270 (http://www.chieftain.com/articles/2008/11/13/news/local/doc491bd8290988e349799310.txt)

QVC - 910 (http://www.dailylocal.com/articles/2008/11/13/news/srv0000004031487.txt)

Wayne-Dalton - 250 (http://www.pnj.com/article/20081113/NEWS01/811130334)

timmyb
Nov 13, 2008, 11:49 AM
People should save BEFORE poop hits the fan.I agree but quite often it is the poorest who can't afford to save as their wages only just cover necessary outgoings. Then they are amongst the hardest hit in a downturn. Thankfully there's the safety net of benefits nowadays.

timmyb
Nov 14, 2008, 01:27 AM
This morning...

RBS - 3,000 (http://news.bbc.co.uk/2/hi/business/7728596.stm)

JCB - 400 (http://news.bbc.co.uk/2/hi/uk_news/england/staffordshire/7728075.stm)

dmr727
Nov 14, 2008, 01:57 AM
I worry that one day I'll end up on this thead:

dmr727 - 1

We'll see. Aviation is a terrible place to be right now.

MagicWok
Nov 14, 2008, 06:39 AM
Unspeaked, could you put all the items into your original post? Would make it easier when it's all in one place.

iShater
Nov 14, 2008, 09:08 AM
I guess SUN joined the fray.

link (http://news.cnet.com/8301-1001_3-10097207-92.html?part=rss&subj=news&tag=2547-1_3-0-20)

:(

Foxglove9
Nov 14, 2008, 09:28 AM
I agree but quite often it is the poorest who can't afford to save as their wages only just cover necessary outgoings. Then they are amongst the hardest hit in a downturn. Thankfully there's the safety net of benefits nowadays.

True. Just about everyone I know lives paycheck to paycheck with less than $5,000 in savings. Plus incredible debt.

Unspeaked
Nov 14, 2008, 10:03 AM
Ok, here's this morning's list:

Siemens - 434 (http://www.portclintonnewsherald.com/article/20081114/UPDATES01/81114010)

Columbus, OH - 130 (http://www.nbc4i.com/midwest/cmh/news.apx.-content-articles-CMH-2008-11-14-0010.html)

Citigroup - 10,000 (http://www.marketwatch.com/news/story/citigroup-slashing-jobs-raising-card/story.aspx?guid=%7BB84C542E-4153-48FF-9497-E406C01EC9DA%7D&dist=msr_5)

Lund - 140 (http://www.fergusfallsjournal.com/news/2008/nov/14/lund-lays-140-nym/)

Riverside Furniture - 250 (http://www.hfbusiness.com/story/story.bsp?sid=178100&var=story)

Eesti Põlevkivi - 300 (http://balticbusinessnews.com/Default2.aspx?ArticleID=e4b3285d-edb0-4e50-bc1c-acf7dc7d5186&open=sec)

Orrick - 75 (http://business.timesonline.co.uk/tol/business/law/article5153583.ece)

Midway Chicago - 20-30 (http://www.incgamers.com/Games/1963/News/Midway-Chicago-Layoffs/14283)

US Steel - 677 (http://www.journalgazette.net/apps/pbcs.dll/article?AID=/20081114/BIZ/811140301)

Ranger Boats - 130 (http://www.nwanews.com/adg/News/243454/)

Morongo Casino - 95 (http://www.mydesert.com/article/20081114/BUSINESS/811130378/1003/business)

Amphenol Corp - 202 (http://www.thedailystar.com/local/local_story_319040010.html)

MeadWestvaco - 56 (http://www.thedailystar.com/local/local_story_319040010.html)

Air Finland - 100 (http://newsroom.finland.fi/stt/showarticle.asp?intNWSAID=20299&group=Business)

Royal Bank of Scotland - 3,000 (http://www.dailyrecord.co.uk/news/scottish-news/2008/11/14/double-jobs-blow-as-royal-bank-of-scotland-and-bt-axe-13-000-86908-20893430/)

Compass - 150 (http://www.star-telegram.com/100/story/1038582.html)

I also have started to consolidate these all into the first post, as MagicWok suggested, so if you submit any yourselves, please include a link.

Unspeaked
Nov 14, 2008, 03:39 PM
And this afternoon:

Kenworth Truck - 430 (http://www.komonews.com/news/local/34479589.html)

United Launch Alliance - 350 (http://www.rockymountainnews.com/news/2008/nov/14/ula-rocket-venture-cut-350-jobs/)

TheStreet.com - undisclosed (http://www.portfolio.com/views/blogs/mixed-media/2008/11/14/breaking-thestreetcom-shuts-sf-office) (Entire San Francisco office shut down.)

Kenworth - 421 (http://seattlepi.nwsource.com/business/387874_kenworthcuts15.html?source=mypi)

Paccar - 430 (http://seattletimes.nwsource.com/html/businesstechnology/2008391517_webpaccar14.html)

Gillette Stadium/New England Patriots - undisclosed (http://www.bostonherald.com/business/general/view.bg?articleid=1132446)

Jewelry TV - 30 (http://www.waaytv.com/Global/story.asp?S=9351169)

Kinro - 143 (http://mfrtech.com/articles/1535.html)

Chicago, IL - undisclosed (http://www.howestreet.com/articles/index.php?article_id=7945) (rumored, "Huge amounts.")

And again, these have been added to the first post in this thread.

One thing to consider when looking at that post, I only began keeping track of these on Tuesday, which was a US holiday, no less. So, that's less than 1 business week's worth of layoffs, and I'm sure there are dozens I missed.

rdowns
Nov 15, 2008, 06:55 AM
Can't say this one make me sad.


The bad economy is hitting the Christian Right. Colorado Springs-based Focus on the Family announced yesterday that it would be laying off an unspecified number of its 1200 employees. The group, founded by Rev. James Dobson, already canned 46 employees back in October as part of an, ahem, restructuring. Even evangelicals resort to corporate-speak when pink-slip time comes.

The group focuses on a number of areas, like abstinence, the sanctity of marriage, fighting the corrosive effects of Hollywood, and good parenting. Dobson himself is a pretty big fan of spanking children (he says it's biblically sanctioned).

yg17
Nov 15, 2008, 11:31 AM
Phew, so far my employer hasn't been on any list.

synth3tik
Nov 15, 2008, 11:38 AM
You can add Cypress Semiconductor to that list. I don't know exact numbers, but I believe it is something like 40 at it's Bloomington plant. I don't know what other locals are also on the cut.

The lay offs were technically in Sept. but we were paid through Nov. 3.

andiwm2003
Nov 16, 2008, 08:20 AM
If huffington post is correct then Citigroup will announce 23ooo to 40ooo lay offs (world wide) on monday. the lay offs will happen within 5 month.

My guess is that half of the lay offs will be in the US.

Although I see that citigroup is very inefficient and banking in general in the US is overstaffed and overpaid I feel sorry for the employees who lose their job just around the Xmas holidays. And the ones who keep their jobs will have a tough time and no feeling of job security for quite some time.:(

rhett7660
Nov 16, 2008, 10:10 AM
If huffington post is correct then Citigroup will announce 23ooo to 40ooo lay offs (world wide) on monday. the lay offs will happen within 5 month.

My guess is that half of the lay offs will be in the US.

Although I see that citigroup is very inefficient and banking in general in the US is overstaffed and overpaid I feel sorry for the employees who lose their job just around the Xmas holidays. And the ones who keep their jobs will have a tough time and no feeling of job security for quite some time.:(

They had this going across MSNBC ticker also. (Watching them for the fire coverage here in California). Man that is huge!

andiwm2003
Nov 17, 2008, 07:54 AM
Citigroup: 50 000 worldwide :eek:

http://www.bloomberg.com/apps/news?pid=20601087&sid=amJDipAa2oNw&refer=home

what does that mean for the US and for Manhatten?

edesignuk
Nov 17, 2008, 07:56 AM
Another article on Citigroup.

Citigroup set to cut 75,000 jobs (http://news.bbc.co.uk/1/hi/world/7733575.stm) [BBC]

:eek:

Unspeaked
Nov 17, 2008, 09:21 AM
Not nearly as many announcements this morning as last Monday, but with the giant number at Citigroup, it may actually be worse:

Citigroup - 53,000 (http://biz.yahoo.com/ap/081117/citigroup_jobs.html)

Simmons - 560 (http://www.hfbusiness.com/story/story.bsp?sid=178161&var=story)

Yahoo - undisclosed (http://searchengineland.com/yahoo-layoffs-on-dec-10-at-11-yahoo-now-significantly-undervalued-15493.php) (rumored)

HSBC - 450 (http://www.google.com/hostednews/afp/article/ALeqM5g3ICVO-gYWt_OEEsHwb5f_x78mDA)

andiwm2003
Nov 17, 2008, 11:59 AM
Not nearly as many announcements this morning as last Monday, but with the giant number at Citigroup, it may actually be worse:

Citigroup - 53,000 (http://biz.yahoo.com/ap/081117/citigroup_jobs.html)

Simmons - 560 (http://www.hfbusiness.com/story/story.bsp?sid=178161&var=story)

Yahoo - undisclosed (http://searchengineland.com/yahoo-layoffs-on-dec-10-at-11-yahoo-now-significantly-undervalued-15493.php) (rumored)

HSBC - 450 (http://www.google.com/hostednews/afp/article/ALeqM5g3ICVO-gYWt_OEEsHwb5f_x78mDA)



well the Citigroup lay off seems to be less worse than the numbers say (isn't it sad how one's perception of "bad" changes when you talk in 10's of thousands of people).

It seems half of the staff reduction comes from selling off business units (in part overseas). The people there often don't get laid off. Well, I wish all of them the best of luck because in the financial industry right now.....

Unspeaked
Nov 17, 2008, 03:15 PM
More from this afternoon:

Putnam Investments - 47 (http://news.bostonherald.com/business/general/view/2008_11_17_Putnam_Investments_lays_off_47__announces_restructuring/srvc=home&position=5)

NASCAR - undisclosed (http://www.lehighvalleylive.com/sports/index.ssf/2008/11/race_on_sunday_gone_on_monday.html) (rumored)

Kinro Inc. - 143 (http://www.kpcnews.com/articles/2008/11/17/greater_fort_wayne/news/today/11-17story2.txt)

Beaumont Hospital - 500 (http://www.wwj.com/Beaumont-Hospital-Announces-Layoffs/3334775)

Focus on the Family - 149 (http://www.gazette.com/news/focus_43586___article.html/lays_eliminationg.html)

Volvo - 350 (http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSLH15971220081117)

Oral Roberts University - 100 (http://www.timesrecordnews.com/news/2008/nov/17/oru-lay-100-employees/)

Freeport McMoRan Mining - 600 (http://www.azstarnet.com/sn/biz-topheadlines/267611.php)

California State Automobile Association - 104 (http://www.bizjournals.com/sacramento/stories/2008/11/17/daily8.html)

Unspeaked
Nov 18, 2008, 03:15 PM
Chrysler Financial Canada - 145 (http://www.reuters.com/article/marketsNews/idUSN1829210220081118)

Wyeth - 118 (http://www.wptz.com/news/18008928/detail.html)

Boise Inc. - 300 (http://www.kptv.com/news/18005882/detail.html)

Mervyns - 280 (http://www.istockanalyst.com/article/viewiStockNews+articleid_2810713.html)

Universal Veneer - 48 (http://www.newarkadvocate.com/article/20081118/UPDATES01/81118022)

Hanford - 65 (http://www.istockanalyst.com/article/viewiStockNews+articleid_2810512.html)

Macomb County, MI - 250 (http://www.freep.com/article/20081118/NEWS04/81118048)

Solutia - 300 (http://money.cnn.com/news/newsfeeds/articles/apwire/1719c14854b6dff28260379c5199d269.htm)

SAP - undisclosed (http://blogs.zdnet.com/BTL/?p=10913) (rumored)

Museum of the Rockies - 5 (http://www.greatfallstribune.com/article/20081118/NEWS01/81118007)

LeapFrog - 70 (http://www.playthings.com/article/CA6615547.html)

Wolseley Plc. - 2,300 (http://www.bloomberg.com/apps/news?pid=20601102&sid=aWvwxV3EWllk&refer=uk)

United States Gypsum - 113 (http://jacksonville.bizjournals.com/jacksonville/stories/2008/11/17/daily12.html?surround=lfn&brthrs=1)

Finch Paper - 44 (http://www.bizjournals.com/albany/stories/2008/11/17/daily16.html)

ABX Air Inc. - 158 (http://www.daytondailynews.com/b/content/oh/story/business/2008/11/18/ddn111808dhlweb.html)

Stillwater Mining - 370 (http://money.cnn.com/news/newsfeeds/articles/apwire/4c3b01aa9bcf52e236d7ba1297fd3414.htm)

Pilgrim's Pride - 335 (http://www.wkyx.com/local-news-details.asp?NewsID=8845)

Vulcan Materials - 38 (http://www.pitandquarry.com/pitandquarry/News+Watch/Vulcan-announces-temporary-layoffs/ArticleStandard/Article/detail/566743)

BlackRock - undisclosed (http://www.streetinsider.com/Insiders+Blog/BlackRock+(BLK)+To+Cut+Employees+This+Week/4173933.html)

Magnussen Home - 22 (http://www.furnituretoday.com/article/49238-Furniture_importer_Magnussen_Home_laying_off_22_workers.php)

Pepsi Bottling - 1,000 (http://online.wsj.com/article/SB122701245505836979.html)

Miami, FL Public Schools - 100's (http://cbs4.com/local/miami.dade.school.2.867356.html) (rumored)

iShater
Nov 18, 2008, 03:19 PM
You are really committed to this thread :D

Unspeaked
Nov 18, 2008, 03:31 PM
You are really committed to this thread :D

If my employer ends up on this list, I'll need somewhere to focus my energy - I'm just starting early...

(That being said, I really hope the rate of these slows down soon - it'll be good for the workforce and me.)

iShater
Nov 18, 2008, 03:45 PM
If my employer ends up on this list, I'll need somewhere to focus my energy - I'm just starting early...

(That being said, I really hope the rate of these slows down soon - it'll be good for the workforce and me.)

I hope you are right. But I doubt it will really slow down any time soon. I hope I am wrong. :o

jecapaga
Nov 18, 2008, 11:35 PM
This is both an interesting and scary thread. I hope to never see my company.

Unspeaked
Nov 19, 2008, 11:34 AM
Miller Electric Mfg. Co. - 95 (http://www.marketwatch.com/news/story/Miller-Electric-Mfg-Co-Cut/story.aspx?guid=%7B0D8082F2-1AAE-4CFB-A0C2-DA470747E60C%7D)

CTVglobemedia Inc. - undisclosed (http://www.edmontonsun.com/Business/News/2008/11/19/7462876.html)

RY Timber Co - 100 (http://www.greatfallstribune.com/article/20081119/NEWS01/81119002)

JLG Industries, Inc. - 30 (http://www.grandforksherald.com/ap/index.cfm?page=view&id=D94I3OG00)

Washington Mutual - 3,000 (http://seattlest.com/2008/11/19/3000_wamu_employees_to_lose_jobs.php)

Miniature Precision Components Inc. - 94 (http://www.bizjournals.com/milwaukee/stories/2008/11/17/daily21.html)

Hyrdo-Air Components Inc. - 30 (http://www.bizjournals.com/buffalo/stories/2008/11/17/daily26.html)

Lawson Software - 200 (http://www.minnpost.com/businessagenda/2008/11/19/4699/lawson_software_life_time_fitness_announce_layoffs_also_justice_investigating_medtronic_product_and_ ackman_presents_revised_real_estate_pitch_to_target)

Life Time Fitness - 100 (http://www.minnpost.com/businessagenda/2008/11/19/4699/lawson_software_life_time_fitness_announce_layoffs_also_justice_investigating_medtronic_product_and_ ackman_presents_revised_real_estate_pitch_to_target)

Great Dane Trailers - 100 (http://www.insideindianabusiness.com/newsitem.asp?ID=32651)

Emerson Electric - 49 (http://www.kait8.com/Global/story.asp?S=9377788&nav=0jsh)

Neptune Orient Lines Ltd. - 1,000 (http://www.google.com/hostednews/ap/article/ALeqM5jJXpIZ0i7IU66Zm0oSyL3izvGBUAD94I2IMO0)

La-Z-Boy - 850 (http://www.manufacturing.net/News-La-Z-Boy-Eliminating-850-Jobs.aspx)

Hall of Fame Racing - undisclosed (http://www.signonsandiego.com/sports/20081119-9999-1s19digest.html)

KLA-Tencor Corp - 900 (http://www.edn.com/article/CA6615823.html)

Kohler Co. - 73 (http://www.fdlreporter.com/article/20081119/FON0101/311190042/1985)

Washington National Cathedral - 41 (http://www.washingtonpost.com/wp-dyn/content/story/2008/11/19/ST2008111900926.html)

Virgin Mobile - 45 (http://money.cnn.com/news/newsfeeds/articles/apwire/d8fb9090b841b7f2cf25f23b249c1dfd.htm)

Palgrave Brown - 207 (http://www.builderandengineer.co.uk/news/general/more-jobs-go-at-palgrave-brown-2971.html)

Electronic Arts - undisclosed (http://www.casualgaming.biz/news/27939/EA-kills-off-mysterious-Blueprint-division)

Pomoho.com - 30 (http://www.pacificepoch.com/newsstories?id=135828_0_5_0_M)

pilotError
Nov 19, 2008, 02:12 PM
well the Citigroup lay off seems to be less worse than the numbers say (isn't it sad how one's perception of "bad" changes when you talk in 10's of thousands of people).

It seems half of the staff reduction comes from selling off business units (in part overseas). The people there often don't get laid off. Well, I wish all of them the best of luck because in the financial industry right now.....

This is on top of 20,000 they laid off earlier in the year.

It was probably the first public indication that there were problems coming...

cantthinkofone
Nov 19, 2008, 03:02 PM
Can't say this one make me sad.

Me either. That guy is crazy.

Killyp
Nov 19, 2008, 03:40 PM
I was nearly laid off last week, but then I was interviewed by some of the top folk/new franchisee and they seemed suitably impressed...

Unspeaked
Nov 19, 2008, 03:45 PM
Snorkely - 185 (http://www.stjoenews.net/news/2008/nov/19/Snorkel/?breaking)

TiVo - undisclosed (http://www.alleyinsider.com/2008/11/layoffs-come-to-tivo)

Boeing - 800 (http://money.cnn.com/news/newsfeeds/articles/apwire/ec46505cd79413c0bdf0105c8dc5520d.htm)

Bell Aliant - 300 (http://www.google.com/hostednews/canadianpress/article/ALeqM5he4C3x1jVO4RUP-v3E2vMBzh39wg)

El Dorado, CA - 90 (http://www.sacbee.com/latest/story/1411843.html)

Louisiana-Pacific Corp. - 200 (http://sanantonio.bizjournals.com/nashville/stories/2008/11/17/daily19.html)

International Paper - 1,050 (http://hamptonroads.com/2008/11/international-paper-offer-severances-more-1000)

Hanes Brands, Inc. - 155 (http://sanantonio.bizjournals.com/triad/stories/2008/11/17/daily24.html)

iShater
Nov 19, 2008, 07:16 PM
Unspeaked, could you add a new option to the poll?

- I am a contractor/freelancer and next gig if coming.
- I am a contractor/freelancer and can't find anything.

Or something like that. None of the current one apply to me. :o

garybUK
Nov 20, 2008, 02:50 AM
Rolls Royce - http://news.bbc.co.uk/1/hi/business/7739026.stm

2000 job losses :(

pagansoul
Nov 20, 2008, 06:49 AM
I finished off my Mortage/Home Loan last year. I own my car, a 10 year old Honda CRV. I have no outstanding debt, at all. I do need a new kitchen, which as already been demolished and has no fixtures. I have the money saved for this but have been sitting on it for months. I live alone so the inconvience of not having a working kitchen doesn't bother me. I also eat out all the time and don't cook. Even after paying for the kitchen I still have enough saved for year of unemployment but what scares me is if something medical crops up. With a job comes health insurance and that my friend is the reason for working. I've seen peoples entire savings go to pay medical bills. When you are young you don't think about it but when you have a family or in my case, are over 50, it sits front row center.

garybUK
Nov 20, 2008, 07:40 AM
I finished off my Mortage/Home Loan last year. I own my car, a 10 year old Honda CRV. I have no outstanding debt, at all. I do need a new kitchen, which as already been demolished and has no fixtures. I have the money saved for this but have been sitting on it for months. I live alone so the inconvience of not having a working kitchen doesn't bother me. I also eat out all the time and don't cook. Even after paying for the kitchen I still have enough saved for year of unemployment but what scares me is if something medical crops up. With a job comes health insurance and that my friend is the reason for working. I've seen peoples entire savings go to pay medical bills. When you are young you don't think about it but when you have a family or in my case, are over 50, it sits front row center.

You're in a very good position and i think this is what most people are going to have to go back to doing. Luckily in this country we get free health care (if unemployed you get your 'stamp' paid for which funds the NHS and allows you to continue receiving free care, and if unemployed you get free prescriptions.

I have seen (from friends who live in the USA) the trauma that can be getting ill!! It has huge financial impacts especially when the insurance company thinks they have grounds for not paying out!! :(

Unspeaked
Nov 20, 2008, 03:05 PM
JP Morgan - 3,000 (http://finance.yahoo.com/news/JPMorgan-cuts-investment-rb-13635809.html)

Steve & Barry - 5,000 (http://seattletimes.nwsource.com/html/businesstechnology/2008416076_webstevebarry20.html)

Days of Our Lives - 2 (http://www.9news.com/life/entertainment/article.aspx?storyid=104313&catid=343)

Associated Press - 400 (http://money.cnn.com/news/newsfeeds/articles/djf500/200811201456DOWJONESDJONLINE000825_FORTUNE5.htm)

Pennsylvania Turnpike - 20 (http://www.forbes.com/feeds/ap/2008/11/20/ap5722894.html)

Trinity Structural Towers - 131 (http://www.kjrh.com/mostpopular/story.aspx?content_id=28426475-1113-4490-8c11-2dba32e976ef)

Dematic Corp. - 30 (http://www.mlive.com/grpress/business/index.ssf/2008/11/dematic_corp_lays_off_30_white.html)

Akamai - 110 (http://www.xchangemag.com/hotnews/akamai-to-layoff-110-in-restructuring.html)

Aerisyn - 54 (http://www.wrcbtv.com/Global/story.asp?S=9386640)

Buckeye - 39 (http://www.azcentral.com/community/swvalley/articles/2008/11/20/20081120swv-council1121.html)

Telefonica - 500 (http://www.reuters.com/article/rbssTechMediaTelecomNews/idUSLK58303720081120)

Mesa, AZ - 346 (http://www.azcentral.com/community/mesa/articles/2008/11/20/20081120mr-mesabudget1120-ON.html)

LodgeNet Interactive Corp. - 30 (http://www.keloland.com/NewsDetail6162.cfm?Id=0,76713)

Intevac - 66 (http://money.cnn.com/news/newsfeeds/articles/apwire/27e6d247e62bdd72593b84056c83e79b.htm)

PSA Peugeot Citroen - 3,500 (http://www.industryweek.com/ReadArticle.aspx?ArticleID=17858)

The First - 13 (http://www.hattiesburgamerican.com/article/20081120/BUSINESS/811200319)

Isuzu Motors - 1,400 (http://sify.com/finance/fullstory.php?id=14802359)

Ingersoll-Rand - 110 (http://www.wral.com/news/state/story/3994658/)

Rolls Royce - 2,000 (http://news.bbc.co.uk/1/hi/business/7739026.stm)

Unspeaked, could you had a new option to the poll...

I don't think I can edit a poll once it's already up...

NATO
Nov 20, 2008, 05:59 PM
Rolls Royce - http://news.bbc.co.uk/1/hi/business/7739026.stm

2000 job losses :(

That article also mentions BAE Systems is getting rid of 200 people :(

Unspeaked
Nov 20, 2008, 06:38 PM
Bank of New York Mellon - 1,800 (http://money.cnn.com/news/newsfeeds/articles/apwire/41fd5e119df4b6711e1a9fd4a18f2839.htm)

Essar Steel Algoma Inc. - 200 (http://www.metalbulletin.com/Article/2052225/Iron/AMM-Essar-Steel-Algoma-targets-200-jobs-in-retirement-offer.html)

Bemis - 100 (http://www.wthitv.com/dpp/news/news_wthi_terrehaute_bemis_200811201802)

Mayer Brown - 33 (http://blogs.wsj.com/law/2008/11/20/law-firm-layoff-watch-hatchet-falls-on-33-lawyers-at-mayer-brown/)

Squire, Sanders & Dempsey - 30 (http://amlawdaily.typepad.com/amlawdaily/2008/11/layoff-news-squ.html)

MFS Investment Management - 90 (http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20081120/REG/811209966)

Methodist Le Bonheur Healthcare - 100 (http://www.commercialappeal.com/news/2008/nov/20/methodist-cuts-about-100-workers-ceo-cites-tough-e/)

The Kansas City Star - 10 (http://www.bizjournals.com/kansascity/stories/2008/11/17/daily40.html)

SIG - 900 (http://www.forbes.com/markets/2008/11/20/layoffs-europe-unemployment-markets-equity-cx_je_1120markets17.html)

BAE Systems - 200 (http://www.forbes.com/markets/2008/11/20/layoffs-europe-unemployment-markets-equity-cx_je_1120markets17.html)

(And the first post has gotten too big for me to keep tacking these onto, which is obviously a bad sign!)

Unspeaked
Nov 21, 2008, 02:40 PM
Solutia - 124 (http://www.wspa.com/spa/news/local/article/124_workers_laid_off_at_solutia/11461/)

Mountaineer - 94 (http://www.thoroughbredtimes.com/national-news/2008/November/21/Mountaineer-layoffs.aspx)

Klockner Pentaplast - 8 (http://www.charlottesvillenewsplex.tv/news/headlines/34888194.html)

Bluegreen Corp. - 122 (http://triangle.bizjournals.com/triangle/othercities/southflorida/stories/2008/11/17/daily52.html)

Royal Philips Electronics - 100 (http://www.masshightech.com/stories/2008/11/17/daily55-Philips-Healthcare-cuts-100-workers-in-Andover.html)

Mullen - 30 (http://www.boston.com/business/ticker/2008/11/mullen_confirms.html?p1=Well_MostPop_Emailed7)

Sandvik AB - 1,500 (http://www.inddist.com/article/CA6616827.html?industryid=48331)

Minrad - 50 (http://www.buffalonews.com/258/story/500870.html)

Des Moines, IA - 90 (http://www.desmoinesregister.com/article/20081121/NEWS/81121024/1001)

Rexnord - 60 (http://www.inddist.com/article/CA6616801.html?industryid=48323)

Starfire Systems - 19 (http://www.bizjournals.com/albany/stories/2008/11/17/daily68.html)

Brown Rudnick Berlack - 20 (http://www.law.com/jsp/article.jsp?id=1202426207810)

Ply Gem Industries Inc. - 274 (http://www.njbiz.com/article.asp?aID=76687)

Miniature Precision Components - 94 (http://www.smartbrief.com/news/opei/storyDetails.jsp?issueid=5CD66D4B-9B2F-4B76-B1A7-AFF4256ED5F5&copyid=A6B4F3FA-B929-4AF1-BF82-F896878A3319)

Clayton Homes - 90 (http://www.knoxnews.com/news/2008/nov/21/clayton-homes-cuts-90-jobs-closes-2-plants/)

Metso - 400 (http://newsroom.finland.fi/stt/showarticle.asp?intNWSAID=20364&group=Business)

Western Union - 200 (http://www.istockanalyst.com/article/viewiStockNews+articleid_2821348.html)

Terre Haute Plastics - 100 (http://www.wane.com/dpp/news/indiana/ind_wthi_terrehaute_bemis_2008112018022100535)

gmecca2
Nov 21, 2008, 08:33 PM
I haven't been affected by the layoffs directly because I'm still employed. But it has definitely made it harder to find a job back home near my family which I am currently trying to do.

Unspeaked
Nov 21, 2008, 09:17 PM
Looks like Apple is trying to avoid layoffs by performing some creative accounting with retail worker's hours:

The Cupertino-based firm is conscious that any retail layoffs would give a negative impression of its health and hurt its share value, and instead plans to scale back the hours worked by its part-time Mac Specialists that greet customers and promote products. This would keep them on the store floors while trimming employment costs, those aware of the changes say.

To compensate for the shortfall, Geniuses normally assigned to servicing products and answering questions will be asked to spend four of their weekly hours in the Mac Specialist role. Creatives manning the Studio sections of some stores will be asked to work as many as eight hours selling products.

LINK (http://www.appleinsider.com/articles/08/11/21/apple_palm_taking_different_steps_to_reduce_worker_overhead.html)

grandmachar2002
Nov 21, 2008, 09:27 PM
this is just unbelievable. And all those greedy CEO's with there millions walking away with sh$t eating grins:mad:

notjustjay
Nov 21, 2008, 09:40 PM
Looks like Apple is trying to avoid layoffs by performing some creative accounting with retail worker's hours:


That's not a bad idea. I'd much prefer a pay cut and/or reduced hours over being laid off.

Winni
Nov 21, 2008, 10:55 PM
The real recession has not even begun yet. 2009 and 2010 will be much worse than 2008 has been so far.

However, I think Marc Fleury (www.thedelphicfuture.org) is right when he blogged that several parts of the IT industry, mainly systems integration and general maintenance services, won't be negatively affected by the recession (or depression or whatever you want to call it). However, businesses relying on hardware and software licenses sales will experience tough times over the next few years, because nobody will be spending money on new equipment.

I also expect deep investment cuts in research and development. Although RD departments are the future of any company, they are the first ones to suffer from budget cuts.

Since this is an Apple forum... Well, they are a hardware and software company, and although they are still doing very well right now, the depression will also hit them sooner or later. Apple mainly sells consumer products, and when consumers loose their jobs, they are not likely to spend money on toys.

Times will get tough for everybody, and as I've said in the beginning of my post, the worst is yet to come. Those governmental safety nets are only delaying the inevitable a bit.

KyPosey
Nov 21, 2008, 10:59 PM
I work for CitiFinancial in a smaller branch in a smaller town...we were on the chopping block but looks like we missed it...they just did a head count here in Ky sending a few employees home. Makes me work THAT much harder everyday just so i can make sure i have a job tomorrow.

Part that sucks is I am a loan officer and the restrictions we have now are just out of control! Makes my job so so hard! I work mostly on delinquency and renewals.

Hope this crap ends soon.

jecapaga
Nov 22, 2008, 01:53 AM
The real recession has not even begun yet. 2009 and 2010 will be much worse than 2008 has been so far.

However, I think Marc Fleury (www.thedelphicfuture.org) is right when he blogged that several parts of the IT industry, mainly systems integration and general maintenance services, won't be negatively affected by the recession (or depression or whatever you want to call it). However, businesses relying on hardware and software licenses sales will experience tough times over the next few years, because nobody will be spending money on new equipment.

I also expect deep investment cuts in research and development. Although RD departments are the future of any company, they are the first ones to suffer from budget cuts.


Since this is an Apple forum... Well, they are a hardware and software company, and although they are still doing very well right now, the depression will also hit them sooner or later. Apple mainly sells consumer products, and when consumers loose their jobs, they are not likely to spend money on toys.

Times will get tough for everybody, and as I've said in the beginning of my post, the worst is yet to come. Those governmental safety nets are only delaying the inevitable a bit.


Wow, your post gave me the warm fuzzies. :rolleyes:

Motley
Nov 22, 2008, 08:43 AM
Well yesterday was a big meeting at my work were the good news was no layoffs next year, and our division exceeded it profits estimates. Bad news, other divisions didn't do so well so no cost of living increase next year and the company match on the 401k are being lowered.:o

mikeyredk
Nov 23, 2008, 09:41 PM
Pretty interesting blog i just ran into

http://layofftracker.blogspot.com/

Toppa G's
Nov 24, 2008, 11:40 AM
Denny Hecker's auto group in the Twin Cities area closed 6 dealerships (http://www.startribune.com/business/34937249.html?elr=KArksUUUU) and 400 people lost their jobs on Friday.

http://www.startribune.com/business/34937249.html?elr=KArksUUUU

Markleshark
Nov 24, 2008, 12:27 PM
I work for Volvo Trucks here in the UK and while people are getting layed off around me, I've been told I'm safe...

edesignuk
Dec 4, 2008, 08:36 AM
AT&T - 12,000 (http://news.bbc.co.uk/1/hi/business/7765222.stm) :eek:

Unspeaked
Dec 4, 2008, 11:12 AM
AT&T - 12,000 (http://news.bbc.co.uk/1/hi/business/7765222.stm) :eek:

I saw this one, as well.

It got to a point where between the first post getting too long to hold them, and the layoffs happening more frequently than I could keep up with them, it was pointless for me to keep this thread up to date.

However, it's probably worth noting ones that are just HUGE like these:

State Street - 1,700 (http://www.dividend.com/blog/?p=3983)

Credit Suisse - 5,300 (http://www.newwest.net/topic/article/credit_suisse_loses_248_billion_plans_5300_layoffs/C35/L35/)

Gannett - 1,800 (http://www.mediaweek.com/mw/content_display/news/magazines-newspapers/e3ie5e8a23067b1966741580afb44064c58)

Nomura - 1,000 (http://www.google.com/hostednews/afp/article/ALeqM5jCNPiLJBEJTvK5itUhIXBazlTGdg) (all in London)

(And the AT&T announcement, of course...)

Or ones that have a significant impact on Mac related topics like this:

Adobe - 600 (http://blogs.zdnet.com/Apple/?p=2613)

synth3tik
Dec 4, 2008, 11:22 AM
I just ran into an old co-worker who now does work as a security guard at a large data bank. He just informed me that half of the data bank people were laid off and a number of them from the Atlanta location had to take an $8 pay cut.

nanvinnie
Dec 4, 2008, 11:36 AM
i maybe joining this thread a little late but.. i haven't seen any significant changes in employment in the aerospace industry. in fact, a lot of smaller companies are aggressively hiring.

one thing i do notice, however, is companies aren't willing to pay what they used to. i've seen the world "bloated" pop up throughout this thread and i think this is a key term. a lot of people are used to their "bloated" salaries. there are a lot of young, capable college grads who will do the same jobs for much less, so there isn't much incentive to keep a 25+ vet on the job pulling in 3 times as much money.

another thing i noticed is that companies are actually competing for business. i haven't seen this in a long time. for the first time, i have 2 different roofing companies in a bidding war for the job.

i cannot say that the layoffs are a good thing, but i think it's a part of balancing the economy. and in the long run, it can (Hopefully) be a good thing.

LethalWolfe
Dec 4, 2008, 03:17 PM
Viacom cut 7% of its work force today (about 850 people) and will freeze salaries for senior level management in '09. Link (http://www.businessweek.com/ap/financialnews/D94S3KFG0.htm)


Lethal

Steamie
Dec 5, 2008, 01:57 AM
I couldn't see this listed in the thread maybe as it was announced before this thread was set up. However Xerox is laying off 3000 workers.

http://news.digitaltrends.com/news-article/18228/xerox-laying-off-3-000

andiwm2003
Dec 5, 2008, 08:13 AM
well, it seems this thread is getting quite depressing. and it seems there will be a number of big layoffs coming soon. even if they bail out GM and chrysler it still will mean they lay off ten's of thousands plus the fall out.

is there somewhere a good statistic of lay offs in the boston area and what industries are affected in boston?

would be good to know to decide to stay or move......

Unspeaked
Dec 5, 2008, 09:31 AM
well, it seems this thread is getting quite depressing. and it seems there will be a number of big layoffs coming soon. even if they bail out GM and chrysler it still will mean they lay off ten's of thousands plus the fall out.

Funny you should mention that:

GM to lay off 2,000 more workers at 3 factories (http://biz.yahoo.com/ap/081205/gm_cuts.html)


is there somewhere a good statistic of lay offs in the boston area and what industries are affected in boston?

I don't have any direct knowledge of the Boston area but from what I've seen while updating this thread, it looks like the financial industry there has been hit pretty hard (I know lots of mutual fund companies are based in Boston) and I'd also guess the higher education sector can't be doing well with all the endowments being cut lately since Boston is supposed to be a big college town.


And if all the previous news wasn't gloomy enough:

Employers Axe Over Half a Million Jobs in Nov., Most in 34 Years (http://biz.yahoo.com/ap/081205/financial_meltdown.html)

sushi
Dec 5, 2008, 09:49 AM
This thread is definitely depressing.

My best to those that may be out of a job.

Times are tough these days. The economy will bounce back. The 64 dollar question is, "How long will it take?"

Thomas Veil
Dec 8, 2008, 02:06 AM
i maybe joining this thread a little late but.. i haven't seen any significant changes in employment in the aerospace industry. in fact, a lot of smaller companies are aggressively hiring.

one thing i do notice, however, is companies aren't willing to pay what they used to. i've seen the world "bloated" pop up throughout this thread and i think this is a key term. a lot of people are used to their "bloated" salaries.I too joined the thread late, and I was surprised to find people downplaying the significance of all these layoffs -- until I read the date of the first posts: mid-November. And of course, it's gotten worse since then.

On a personal level, my nephew, his wife and my brother-in-law have all been laid off. My son says more people are being laid off at his employer every Friday, so he's living in fear week-to-week. And while I haven't spoken to him yet, a neighbor down the street who is a steel mill foreman has been home a lot, so I think he also is the victim of a locally-publicized steel layoff. Which makes sense. If construction and the auto industry are in the dumper.....

What it all adds up to is, it's frightening. You can just see the domino effect happening. People without jobs stop buying, and more companies suffer, so more companies lay off, which means more people stop buying....

Which is why I don't worry excessively about "bloated" salaries. I don't know what "bloated" is, but to some people making $10/hr., that can mean $60K a year. Sure, you can cut back even those salaries, but again, if you're reducing someone's disposable income, you're just hurting the overall economy.

andiwm2003
Dec 8, 2008, 08:11 AM
I too joined the thread late, and I was surprised to find people downplaying the significance of all these layoffs -- until I read the date of the first posts: mid-November. And of course, it's gotten worse since then.

On a personal level, my nephew, his wife and my brother-in-law have all been laid off. My son says more people are being laid off at his employer every Friday, so he's living in fear week-to-week. And while I haven't spoken to him yet, a neighbor down the street who is a steel mill foreman has been home a lot, so I think he also is the victim of a locally-publicized steel layoff. Which makes sense. If construction and the auto industry are in the dumper.....

What it all adds up to is, it's frightening. You can just see the domino effect happening. People without jobs stop buying, and more companies suffer, so more companies lay off, which means more people stop buying....

Which is why I don't worry excessively about "bloated" salaries. I don't know what "bloated" is, but to some people making $10/hr., that can mean $60K a year. Sure, you can cut back even those salaries, but again, if you're reducing someone's disposable income, you're just hurting the overall economy.

sorry to hear that your family is hit by the lay offs and i hope your son keeps his jobs. in the beginning i thought this would be limited mostly to the financial industry. i thought the real world industry would be less impacted. guess i was wrong.

my hope is that real world jobs will come back because people will need to buy cars eventually. i guess all industies that produce stuff we really need will recover (cars, food, drug companies, car repair shops, plumbing and such).

however the financial industry will be much smaller than before. same is true for a lot of other services. in addition i'm not sure if you have to run a financial service in NYC or Boston where salaries in financial services are outragesly high. i guess a lot of those jobs will go to other places where salaries are much lower.

pilotError
Dec 8, 2008, 08:38 AM
This thread is definitely depressing.

My best to those that may be out of a job.

Times are tough these days. The economy will bounce back. The 64 dollar question is, "How long will it take?"

Look for a bounce back around early 2010. Yep, 2009 is going to be ugly. That said, you also won't see the peak of the unemployment happen until around early 2010. Unemployment usually peaks just after the recovery starts. Mainly because companies won't hire until they feel that the recovery is for real, which may take 2 or 3 quarters.

sorry to hear that your family is hit by the lay offs and i hope your son keeps his jobs. in the beginning i thought this would be limited mostly to the financial industry. i thought the real world industry would be less impacted. guess i was wrong.

my hope is that real world jobs will come back because people will need to buy cars eventually. i guess all industies that produce stuff we really need will recover (cars, food, drug companies, car repair shops, plumbing and such).

however the financial industry will be much smaller than before. same is true for a lot of other services. in addition i'm not sure if you have to run a financial service in NYC or Boston where salaries in financial services are outragesly high. i guess a lot of those jobs will go to other places where salaries are much lower.

I'm not sure how to answer this. Wealth doesn't just dissapear, it goes up and down from time to time. When a firm goes out of business, the customers don't just dissapear, they go other places. So while one may lose another wins. So far people have been getting absorbed in other places, but it's definitely survival of the fittest.

You haven't seen nearly the worst of it. The big layoffs will be happening soon, as most companies don't want to carry the expenses past the end of the year. I worry mainly about the city and state governments being able to remain solvent with so many folks on the unemployment lines and taking benefits.

You have to remember that the top 5 or 10% of earners pay nearly 40% of the taxes. When those jobs go away, everyone suffers.

Unspeaked
Dec 8, 2008, 12:27 PM
A couple of more big ones from this morning:

Dow Chemical - 5,000 (http://biz.yahoo.com/ap/081208/dow_chemical_job_cuts.html)

3M - 1,800 (http://biz.yahoo.com/ap/081206/3m_job_cuts.html)

joepunk
Dec 8, 2008, 01:57 PM
And now The Tribune Company, owner of the LA Times and Chicago Tribune, has filed for bankruptcy. (http://www.latimes.com/business/la-fi-tribune9-2008dec09,0,5273854.story)

Unspeaked
Dec 8, 2008, 02:06 PM
And now The Tribune Company, owner of the LA Times and Chicago Tribune, has filed for bankruptcy. (http://www.latimes.com/business/la-fi-tribune9-2008dec09,0,5273854.story)

And owner of the Chicago Cubs, as well!

How's this for a one day stock chart??

http://ichart.finance.yahoo.com/b?s=TXA

newappleboy
Dec 8, 2008, 02:08 PM
I'm part of the initial wave of Citi layoffs, though it was 20,000 and not 10,000 like this thread shows. Shortly after our entire helpdesk was announced to shut down and relocated, the next 53,000 layoffs were announced. I am employed until the end of this year. My final day is December 26th, meaning I have Christmas day off, but they're making me come back for one final day. So I can't even try to make the best of all this by spending time with family or go anywhere.

To top it all off, CitiGroup's CEO consistently sends out emails to the entire business population telling us how good Citi is doing and how we're in a much better position to approach 2009 than we were to approach 2008. Well sure we are - you just got rid of 73,000 employees! That's 73,000 less salaries you have to pay. Even if they all made minimum wage you're still saving billions. It's so distasteful to send stuff like that out while some of us are still on notice sitting at our desks wondering how we're going to pay rent and buy groceries. :(

Unspeaked
Dec 8, 2008, 03:54 PM
Anheuser-Busch InBev - 1,400 (http://finance.yahoo.com/news/AnheuserBuschInBev-will-cut-apf-13773312.html)

iJohnHenry
Dec 8, 2008, 04:07 PM
How's this for a one day stock chart??

Where was this yesterday, when I could have sold-short. ;)

Don't think that those in the know didn't do just that. :mad:

Unspeaked
Dec 9, 2008, 10:01 AM
Sony - 8,000 (http://biz.yahoo.com/ap/081209/as_japan_sony.html)

MacLadybug
Dec 9, 2008, 02:04 PM
Old Mutual Financial Network just closed down their Atlanta office yesterday. Laid off 300 employees.

madmaxmedia
Dec 9, 2008, 02:19 PM
Remember f**kedcompany.com?

I think I am going to start f**kedworld.com. My condolences for those who have lost jobs-

Unspeaked
Dec 9, 2008, 02:23 PM
Remember f**kedcompany.com?

I think I am going to start f**kedworld.com. My condolences for those who have lost jobs-

When all these announcements started up, I was actually surprised when I tried going to that site and it was no longer being updated.

Truth be told, there announcements the past few weeks have been going harder and faster than even the dot-com bust days.

NC MacGuy
Dec 10, 2008, 07:36 PM
"DANBURY, Conn., December 9, 2008 -- In response to the substantial slowdown in demand in the fourth quarter, Praxair, Inc. (NYSE: PX) is reducing its fourth-quarter guidance for fully diluted earnings per share to a range of $0.95 to $1.00 excluding charges described below.* This range is about even with the $0.98 earned in the 2007 fourth quarter. The company has seen a fall-off in demand in November and is expecting additional customer plant closings in December which will further reduce volumes for the quarter. New projects and new business applications are expected to offset this demand slowdown and a significant foreign-currency headwind.

The company has already initiated cost-reduction actions, including a reduction in workforce of about 1,600 and the closure of underperforming and non-core product lines and businesses."

Unspeaked
Dec 11, 2008, 09:39 AM
LINK (http://biz.yahoo.com/ap/081211/financial_meltdown.html)

New Unemployment Claims Reach 26-Year High

By Christopher S. Rugaber, AP Economics Writer

WASHINGTON (AP) -- New claims for jobless benefits rose more than expected last week, exceeding even gloomy expectations for an economy stuck in a recession that seems to be deepening.

The Labor Department reported Thursday that initial applications for jobless benefits in the week ending Dec. 6 rose to a seasonally adjusted 573,000 from an upwardly revised figure of 515,000 in the previous week. That was far more than the 525,000 claims Wall Street economists expected.

In a fresh example of the layoffs, tool maker Stanley Works said Thursday it plans to cut 2,000 jobs, or about 10 percent of its work force, and close three manufacturing facilities. The New Britain, Conn.-based company cited weakness in its construction and industrial segments and the effect of a stronger dollar for the reductions.

New jobless claims last week reached their highest level since November 1982, though the labor force has grown by about half since then.

The jump is partly due to a rebound in claims from the previous week, which included the Thanksgiving holiday, a Labor Department analyst said. Government offices were open for fewer days that week.

Still, the four-week average, which smooths out fluctuations, was a seasonally-adjusted 540,500, the highest since December 1982, when the economy was emerging from a steep recession.

The number of people continuing to claim jobless benefits also jumped much more than expected, increasing by 338,000 to 4.4 million, the Labor Department said. Economists expected a small increase to 4.1 million. The figure for continuing claims lags initial claims by one week.

As a proportion of the work force, the number of people continuing to receive benefits is the highest since August 1992, when the U.S. was recovering from a relatively mild recession. The increase in continuing claims was the largest jump since November 1974, the department said.

Economists consider jobless claims a timely, if volatile, indicator of the health of the labor markets and broader economy. Last year, initial claims were 337,000...

...The Labor Department said last week that employers cut a net total of 533,000 jobs in November and the unemployment rate reached 6.7 percent, a 15-year high. The rate would have been higher, except that more than 400,000 Americans gave up looking for a new job and weren't counted in the labor force.

Companies have eliminated a net total of 1.9 million jobs this year, and some economists project the total cuts could reach 3 million by the spring of 2010.

A number of large U.S. employers announced layoffs this week, including Dow Chemical Co., 3M Co., Anheuser-Busch InBev, National Public Radio and the National Football League.

Unspeaked
Dec 11, 2008, 03:41 PM
Bank of America - 35,000 (http://finance.yahoo.com/news/Bank-of-America-to-cut-up-to-rb-13810998.html)

Bank of America says to cut up to 35,000 jobs

(Reuters) - Bank of America Corp said on Thursday it plans to cut up to 35,000 jobs over the next three years.

Highlights:

* Says expects to have a final plan early in 2009

* Says reductions are coming from both companies and affect all lines of business and staff units

* Says reductions to eliminate redundancies due to merger with Merrill Lynch and reflect current recessionary environment

* Says continues to actively originate loans through all of its credit product lines

Unspeaked
Dec 16, 2008, 09:45 AM
Best Buy offers buyouts to 4,000 employees at company HQ. (http://www.startribune.com/business/36197909.html?elr=KArksLckD8EQDUoaEyqyP4O:DW3ckUiD3aPc:_Yyc:aUUl)

gkarris
Jan 28, 2009, 03:56 PM
Breaking news - Starbucks laying off and closing more stores...

http://www.msnbc.msn.com/id/28898855/

Unspeaked
Jan 28, 2009, 04:06 PM
And earlier today AOL cut 700 (http://finance.yahoo.com/news/AOL-to-cut-700-jobs-internal-rb-14185255.html) (or 10% of its workforce).

dmr727
Jan 29, 2009, 01:54 AM
No layoffs yet, but Sony profit off 95%? Holy crap:

http://www.iht.com/articles/2009/01/29/business/29sony-418340.php

Nicolecat
Jan 29, 2009, 07:11 AM
This is seriously crazy...My father's company just recently closed the plant where he worked. 250 people were out of jobs, one day they got to work and were just simply told to go home. Granted, my dad was the only one offered a transfer...but that would mean he'll be moving halfway across the US.

My company just recently had layoffs...and let 1/5 of their full-time workforce go. They sent the email out on a friday letting everyone know what was going on...and everything was finalized by the following thursday, even though we were told it was going to take 2 weeks.

I'm tired of the stress of tip-toeing on broken glass...or at least that's how it feels now. I mean, seriously...this is a crappy time in many people's lives.

Unspeaked
Jan 29, 2009, 09:49 AM
Kodak's cutting 3,500 to 4,500. Read all about it. (http://finance.yahoo.com/news/Kodak-posts-4Q-loss-plans-up-apf-14192726.html)

And from Yahoo:

Americans receiving jobless benefits hits record

Christopher S. Rugaber, AP Economics Writer

WASHINGTON (AP) -- The number of people receiving unemployment benefits has reached an all-time record, the government said Thursday, and more layoffs are spreading throughout the economy.

The Labor Department reported that the number of Americans continuing to claim unemployment insurance for the week ending Jan. 17 was a seasonally adjusted 4.78 million, the highest on records dating back to 1967. That's an increase of 159,000 from the previous week and worse than economists' expectations of 4.65 million.

As a proportion of the work force, the tally of unemployment benefit recipients is the highest since August 1983, a department analyst said.

The total released by the department doesn't include about 1.7 million people receiving benefits under an extended unemployment compensation program authorized by Congress last summer. That means the total number of recipients is actually closer to 6.5 million people.

Businesses continued to hemorrhage jobs Thursday. Ford Motor Co. reported a fourth-quarter loss of $5.9 billion and said its credit arm would cut 20 percent of its work force, or 1,200 jobs. Eastman Kodak Co. said it's cutting 3,500 to 4,500 jobs, or 14 to 18 percent of its work force, as it posted a $137 million quarterly loss on plunging sales of photography products.

In another sign of the deepening recession, the Commerce Department said Thursday that new orders for durable goods dropped by 2.6 percent last month, even worse than the 2 percent decline economists expected. Orders fell 5.7 percent for the year, the second biggest drop on government records, exceeded only by a 10.7 percent plunge in 2001.

The financial markets fell on the news. The Dow Jones industrial average dropped about 110 points in morning trading.

The tally of Americans filing new jobless benefit claims rose slightly to a seasonally adjusted 588,000 last week, from a downwardly revised figure of 585,000 the previous week. That also was worse than analysts' forecast of 575,000 new claims.

The number of initial claims is close to the 26-year high of 589,000 reached in late December, though the work force has grown by about half since then.

The record number of ongoing benefit claims is an indication that laid-off workers are having a difficult time finding new jobs, economists said.

"This highlights the key point that the trend in gross hirings has slowed as abruptly as the trend in gross firings ... has risen," Ian Shepherdson, chief U.S. economist for High Frequency Economics, wrote in a research note.

A year ago, continuing claims stood at about 2.7 million, less than half their current level when the extended unemployment program is included.

Abiel Reinhart, an economic analyst at JPMorgan Chase, said the report indicates the unemployment rate likely rose this month. January's figure will be released Feb. 6.

The rate jumped to 7.2 percent in December, a 16-year high. Employers cut an average of 510,000 jobs in the last three months of 2008, and may cut a similar amount in January, Reinhart said.

The crush of new and continuing claims has overwhelmed many states' ability to process them all. Electronic filing systems crashed in three states earlier this month, and last week Michigan said it would hire 276 workers and open a fourth call center to handle increased phone traffic.

President Barack Obama's $819 billion economic stimulus package, approved by the House Wednesday and now on its way to the Senate, would provide $500 million to the states to upgrade their unemployment insurance systems. The measure also continues the extended unemployment compensation program, which adds up to 33 weeks of benefits, until the end of the year.

Companies have announced a huge number of layoffs this week as they prepare for an extended period of economic weakness. Economists expect the current recession, which began in December 2007, to be the longest since World War II.

Starbucks Corp. on Wednesday said it would cut 6,700 jobs. The coffee company also said it would close 300 underperforming stores, on top of 600 it already planned to shut down.

Time Warner Inc.'s AOL division is cutting up to 700 jobs, or about 10 percent of the online unit's work force. And IBM Corp. has cut thousands of jobs in its sales, software and hardware divisions in the past week, without announcing specific numbers.

Boeing Co., Pfizer Inc., Home Depot Inc. and other U.S. corporate titans also have announced tens of thousands of job cuts this week alone.

gkarris
Feb 2, 2009, 08:44 PM
Kodak's cutting 3,500 to 4,500. Read all about it. (http://finance.yahoo.com/news/Kodak-posts-4Q-loss-plans-up-apf-14192726.html)

I've always had great luck with Kodak digital cameras I had years and years ago, before digital photography got popular.

Now, there's tons of competition. I saw a Microcenter ad for GE digital cameras! Sort of the modern-day, digital ANSCO... :eek:

Unspeaked
Feb 3, 2009, 12:00 AM
I've always had great luck with Kodak digital cameras I had years and years ago, before digital photography got popular.

Now, there's tons of competition. I saw a Microcenter ad for GE digital cameras! Sort of the modern-day, digital ANSCO... :eek:

Or a more parallel comparison: Polaroid.

And as for the subject of this thread, I know it's not even worth reporting layoffs any longer, but I may as well mention that Macys is cutting 7,000 jobs (http://finance.yahoo.com/news/Macys-to-cut-7000-jobs-slash-apf-14230136.html) and that a new report from the UN is predicting 51 million (http://www.hindustantimes.com/StoryPage/StoryPage.aspx?sectionName=NLetter&id=01310b17-3e62-4dfa-a735-41967f4a3e39&&Headline=World+economy+may+lose+51+million+jobs%3a+UN+agency) job cuts this year worldwide.

Consultant
Feb 3, 2009, 09:45 AM
Very small company that reveres and follows MS crap (poor design / poor usability).
I hate this place. =(

Probably have to quit if I don't get lay off.

puckhead193
Feb 3, 2009, 10:51 PM
can i vote...i've been unemployed since graduation (may 2008)....hooray for early retirement.....at least my golf swing has gotten a tad better
FORE!!!!! :D

SFStateStudent
Feb 4, 2009, 01:38 AM
Even the private colleges/universities are falling victim to layoffs. Stanfurd University, CA, just conducted round one of layoffs. Some friends were sent packing w/o warning...

7on
Feb 4, 2009, 10:03 AM
Got laid off Dec 5. Tough times indeed. Job Fairs are useless as they're needing sales people mostly.

Doesn't seem like anybody wants us graphic designers.

Unspeaked
Feb 4, 2009, 03:57 PM
Doesn't seem like anybody wants us graphic designers.

Bad news for a lot of Mac users...

Unspeaked
Feb 5, 2009, 09:22 AM
New jobless claims jump more than expected to 626K (http://finance.yahoo.com/news/New-jobless-claims-jump-more-apf-14262044.html)


Initial jobless claims surge more than expected to 626,000; continuing claims set new record

Christopher S. Rugaber, AP Economics Writer

WASHINGTON (AP) -- New jobless claims jumped far more than expected last week in an already dismal labor market, and there's no relief in sight for workers as mass layoffs persist.

The Labor Department reported Thursday that the number of laid-off workers seeking jobless benefits rose last week to a seasonally adjusted 626,000, from the previous week's upwardly revised figure of 591,000. The latest total is far more than analysts' expectations of 583,000.

That's also the highest since October 1982, when the economy was in a steep recession, though the work force has grown by about half since then.

The number of people that remained on the unemployment compensation rolls increased slightly to nearly 4.8 million, the most since records began in 1967.

As a proportion of the work force, the number of people receiving unemployment benefits is at the highest level since August 1982. But that doesn't include an additional 1.7 million people receiving unemployment insurance through an extension of benefits Congress approved last year, which brings the total to about 6.5 million.

The extension provides up to 33 additional weeks of benefits, on top of the 26 weeks typically provided by states.

The numbers reflect the rapid deterioration in the labor market in recent weeks as companies from a wide range of sectors have announced tens of thousands of layoffs and displaced workers find it even more difficult to land a new job.

The Labor Department said in a separate report that productivity rose at an annual rate of 3.2 percent in the final three months of last year, far above the 1.1 percent rise that economists had expected.

Productivity, which is the amount of output per hour of work, jumped because the number of hours worked during the period plunged faster than output declined. That reflected the massive wave of layoffs that occurred during the fourth quarter.

Unit labor costs, meanwhile, edged up at a 1.8 percent annual rate, far lower than the 2.9 percent rise that had been forecast. The results underscored how the deepening recession has removed the threat of inflation.

But the layoffs continued Thursday with cosmetics maker Estee Lauder Cos. saying its fiscal second-quarter profit fell 30 percent and it plans to begin a four-year restructuring plan that will include cutting 2,000 staffers, or 6 percent of the work force. The company will also continue its hiring freeze.

On Wednesday, Botox maker Allergan Inc. and Time Warner Inc.'s cable division announced large job cuts. A day earlier, PNC Financial Services Group, airplane maker Hawker Beechcraft Corp., Liz Claiborne Inc., King Pharmaceuticals Inc. and aerospace company Rockwell Collins Inc. announced layoffs. General Motors Corp., meanwhile, said it will offer buyouts to all of its hourly workers.

Macy's Inc. said Monday that it would eliminate 7,00 jobs.

xlii
Feb 5, 2009, 09:30 AM
The unemployment rate in Rhode Island is already over 10%. This has already just started. I expect to see 20% before this thing peaks in 3 more years.

andiwm2003
Feb 5, 2009, 10:13 AM
The unemployment rate in Rhode Island is already over 10%. This has already just started. I expect to see 20% before this thing peaks in 3 more years.

what type of jobs where predominantly lost in RI?

in the boston area are certainly a lot of jobs lost as well but i somehow don't know anyone who lost his/her job. i also don't see any effects of the downturn yet, shops are still crowded, apple stores sell stuff like crazy, traffic during rush hour is still bad. i just hope i keep my job for the next two years. after that i think the job market will get better.

EV0LUTION
Feb 6, 2009, 12:57 PM
Responsive Solutions - 3

My hours have been cut in half, and the sales team has lost 3 people, Which brings us down to 2 salesmen. The dev team (6 including myself) is still here though, but we are really hurting for money right now.

DiamondMac
Feb 7, 2009, 10:03 PM
It wasn't until recently that I knew someone that has gotten laid off and that seemed to start a ball rolling down a hill effect as right after that, several other friends got laid off

Lower-level jobs though

dmr727
Feb 9, 2009, 12:24 AM
A receptionist just got laid off at my company. In all honesty, it should have happened months and months ago, but nonetheless - it's scary.

When am I next?

Unspeaked
Feb 9, 2009, 01:04 AM
Nissan to slash 20,000 jobs.

LINK (http://finance.yahoo.com/news/Nissan-to-slash-20000-jobs-apf-14290072.html)

Is that the biggest one yet? Sadly, I forget...

ravenvii
Feb 9, 2009, 01:06 AM
what type of jobs where predominantly lost in RI?

in the boston area are certainly a lot of jobs lost as well but i somehow don't know anyone who lost his/her job. i also don't see any effects of the downturn yet, shops are still crowded, apple stores sell stuff like crazy, traffic during rush hour is still bad. i just hope i keep my job for the next two years. after that i think the job market will get better.

Same here. I went to Best Buy and see a long line.

"Where the is the recession I keep hearing about?" I thought.

Unspeaked
Feb 9, 2009, 11:23 AM
Same here. I went to Best Buy and see a long line.

"Where the is the recession I keep hearing about?" I thought.

What, do you expect to walk into Best Buy and find it empty, with tumble weed rolling across the floor?

Even during the Great Depression, some sort of business still took place.

MacUser1
Feb 9, 2009, 09:02 PM
Nissan to slash 20,000 jobs.

LINK (http://finance.yahoo.com/news/Nissan-to-slash-20000-jobs-apf-14290072.html)

Is that the biggest one yet? Sadly, I forget...

Nah, remember the 50,000+ at Citigroup? :(

Unspeaked
Feb 10, 2009, 09:52 AM
Nah, remember the 50,000+ at Citigroup? :(

Oh yeah, how could I forget?

And for today's dismal news, let's stick with the auto industry and GM's 10,000 (http://finance.yahoo.com/news/GM-to-cut-10000-salaried-jobs-apf-14307259.html) cuts.

edesignuk
Feb 10, 2009, 09:53 AM
RBS, a further [up to] 2,300 (http://news.bbc.co.uk/1/hi/business/7881672.stm?lss).

arkitect
Feb 10, 2009, 09:56 AM
RBS, a further [up to] 2,300 (http://news.bbc.co.uk/1/hi/business/7881672.stm?lss).

3m unemployed in the UK before year's end.

Oh, and "former banking bosses say 'sorry' " (http://news.bbc.co.uk/1/hi/business/7880292.stm)
That's all right then.
:rolleyes:

Unspeaked
Feb 10, 2009, 12:14 PM
3m unemployed in the UK before year's end.

Wow, that's just slightly more than the number of Walmart employees!

Unspeaked
Feb 12, 2009, 02:49 AM
Pioneer - 10,000 job cuts globally. Read all about it. (http://finance.yahoo.com/news/Japans-Pioneer-to-cut-10000-apf-14333317.html)