Chicago's Mayor Daley: Expect Mass Layoffs in Coming Year, page 1

posted on Nov, 13 2008 @ 03:01 PM

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Joanie Lum CHICAGO (CBS) ― The warning is out – Mayor Richard M. Daley says a parade of corporate chief executives have told him huge layoffs are planned around the city and will carry into next year.

As CBS 2's Joanie Lum reports, when Daley made the announcement, workers around the city felt a chill, and they are wondering who will be laid off next.

The news is especially alarming because the discussion concerns not just city jobs, but the private sector. Thus, it seems the City That Works is about to become the city that gets laid off.

Mayor Daley says corporate leaders told him huge layoffs will impact the city this month and next, and into the new year. He also says city, county and state governments should be prepared for their revenue to fall dramatically because of the souring economy.

"This is going to be all year, so it's going to be a very frightening economy," Mayor Daley said. "Each one tells me what they're laying off, and they're going to double that next year. We're talking huge numbers of permanent layoffs for people in the economy. It's going to have a huge effect on all businesses."

The mayor said the gravity of the situation cannot be underestimated.

"We never experienced anything like this except people who came from the Depression," Mayor Daley said. "When you have that many layoffs early – and they're telling me this is only the beginning of their layoffs – that is very frightening."

Mayor Daley also warned that local governments will be in jeopardy and may not have enough money to meet payroll, although he is not worried about paying City of Chicago employees.

Please visit the link provided for the complete story.

As a native Chicagoan, it struck me as a reminder that while many still feel comfortable in their jobs, their superiors may have other ideas about how long they remain employed.

My dad works for the U.S. Post Office and recently learned the intent to layoff 40,000 nationwide of their 685,000 workforce. He's a union member and has been told of the USPS history of never having laid workers off, but now it is about to happen.

I chose to report on this article for its alarming warning that many companies know they will be laying their workforce off, just haven't told their workers yet.

I feel for these people...

[edit on 13-11-2008 by MOFreemason]

nyk537

posted on Nov, 13 2008 @ 03:14 PM

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reply to post by MOFreemason

Not to be rude or snooty here, but it's usually expected that you add some of your own thoughts instead of just pasting a large quote.

Anyway...

This is rather frightening, but I think it's a little fear mongering to be honest. Although it's quite possible once Obama get his "economic proposals" in gear.

MOFreemason

posted on Nov, 13 2008 @ 03:18 PM

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reply to post by nyk537

I wasn't sure what point I wanted to make after quoting the news article, since I was afraid it would be too much for some to want to read. Point taken though.

I'm going to edit my comments in now.

MOFreemason

posted on Nov, 13 2008 @ 03:24 PM

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Of course, after I post about USPS layoffs, I read this first posted on the Drudge Report:

WASHINGTON (AP) - The Postal Service ended its fiscal year $2.8 billion in the red, battered by a faltering economy that cut the amount of mail being sent.
Postmaster General John Potter said the agency is making sharp cuts in hours and overtime but added there are no plans for layoffs. The mail being sent dropped by 9.5 billion items.

"We expect the new fiscal year to be another difficult one," Potter said, adding: "We're not panicking here."

Please visit the link provided for the complete story.

www.breitbart.com...

please_takemyrights

posted on Nov, 13 2008 @ 03:59 PM

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The USPS could start making cuts by doing away with Saturday mail delivery.

The majority of mail is either bills or marketing materials anyways. Do we really care to get that on the weekend? Not me, my mind and body are off having fun!

And back to the topic, this sort of thing is happening all over the country, but I guess this guy wanted to go public with it.

People keep comparing this to the great depression, but it seems like this time the economy is taking its sweet time... several years... to go downhill.

From what I've read (WAY too young to have been alive during the Great Depression) it really did sort of 'pop' one day and took most people by surprise. I say 'most' because we've all read about the special few who may, at the least, KNOWN it was coming and pulled out, and quite possibly CREATED it.

What we have now can be traced back at least a year and a half, and other reports about housing and credit problems even before that.

MOFreemason

posted on Nov, 13 2008 @ 04:35 PM

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People keep comparing this to the great depression, but it seems like this time the economy is taking its sweet time... several years... to go downhill.

You are correct that this has been slow to develop and probably slow to intensify. Each day we have more and more news headlines stating gloom and doom, but it appears the worst is only yet to come.

I wonder if more major city mayors will come forward and admit that CEOs within their cities are braced to announce major layoffs, which have major tax implications for their municipalities?

BostonBill99

posted on Dec, 1 2008 @ 01:39 PM
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I also heard about the USPS layoffs from a relative who is employed at USPS. Ellie Castelli's article in Federal Times (Link)back in October 2008 started it all. Upper mgmt is frantically denying it (www.usps.com...) but the word in the offices is that it's true. Most believe it will occur after the expiration of the third (and final) early retirement offer on Jan 21 2009. There are also rampant rumors that the USPS may have trouble making payroll soon. Regular long-time USPS folks are scared, even though the rumor is that no one with less than 7 years will be laid off.

Clearly, the early retirement offers are not panning out as they expected. The USPS extended offers to 156,000, but a few more than 3,500 accepted the offer (2.3%).

And they're spending more than they earn, with a $2.8B defecit for FY2008. Their FSS efforts, although noble, are expending billions to save pennies.

Is the USPS the next bailout???

all2human

posted on Dec, 1 2008 @ 01:58 PM
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There is no hiding from this people,i am no chicken little but, this ship is going down! ,the sooner people realize it and prepare the better,no fear mongering here.

[edit on 1-12-2008 by all2human]

Mr Knowledge

posted on Dec, 1 2008 @ 07:50 PM
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I guess nobody's job is safe nowadays.

all2human

posted on Dec, 1 2008 @ 07:57 PM
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It's just a Fn shame generations of hardworking American taxpayers will have to suffer for the mistakes made by a few fatcat Bankers and Total Governmental failure,scary times ahead!

[edit on 1-12-2008 by all2human]