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Topic started on 3-12-2008 @ 10:59 PM by Dbriefed
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I'd like to start a thread on current company layoffs. If you know of a company which is laying off a significant amount of workers (hundreds or
more), please post: Date, Company, Layoffs, Percentage (if known), and a reference link.
12/03/2008 - Adobe lays off 600 workers (8%)
www.sfgate.com.../c/a/2008/12/03/BUE114DS4L.DTL
12/10/2008 - Yahoo lays off xxx
(Not yet announced - part of annual holiday layoff ritual)
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reply posted on 4-12-2008 @ 02:06 PM by Dbriefed
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reply posted on 4-12-2008 @ 02:14 PM by marg6043
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JPMorgan Chase to Shed 20 Percent of WaMu Workforce
WaMu has approximately 42,000 employees. The planned cuts represent 20 percent of the company’s workforce.
Most of the cuts will be spread out across the nation, representing 4,200 jobs. Seattle, where WaMu is headquartered, will be losing 3,400 jobs. The
San Francisco area will experience 1,600 layoffs at the company. WaMu said that the majority of cuts will come from the corporate level.
The company has 5,400 branches nationwide.
www.economyincrisis.org...
What a holiday present for the employees.
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reply posted on 5-12-2008 @ 01:29 AM by Dbriefed
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reply posted on 5-12-2008 @ 08:06 AM by marg6043
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The unemployment figures were released today and they are looking dangerously high to the point that even Bernanke is worry about it.
U.S. Payrolls Decline by 533,000, Most Since 1974
Payrolls plunged by 533,000 last month, the biggest loss since December 1974, after shrinking a revised 320,000 the prior month, the Labor
Department said today in Washington. November’s losses exceeded all 73 forecasts in a Bloomberg News survey. The jobless rate rose to 6.7 percent,
the highest level since 1993.
Payrolls are likely to keep sliding into next year as the collapse in credit and slump in spending hurt companies from General Motors Corp. to
Citigroup Inc. and AT&T Inc. President- elect Barack Obama, confronting what he called a “crisis of historic proportions,” announced a plan last
week to save or create 2.5 million jobs over two years.
bloomberg.com...
12,000 Jobs on the Chopping Block at AT&T
bloomberg.com...
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reply posted on 5-12-2008 @ 08:12 AM by kosmicjack
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OMG...wait until January. The economy is propped up by consumer spending and come the first of the year - that will be in lock down.
What is totally jacked up is how the jobless numbers for September and October were totally WRONG as reported at the time. Now, they have been revised
upward by a significant amount for each month.
I wonder if the stats were manipulated downward for the election? Remember Bush and McCain were both saying everything was fine until the evidence was
just irrefutable.
[edit on 5/12/2008 by kosmicjack]
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reply posted on 5-12-2008 @ 08:13 AM by 44soulslayer
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reply posted on 5-12-2008 @ 08:19 AM by marg6043
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Thanks for the list, 44soulslayer, that is impressive,
kosmicjack, you are right about proping up the numbers before the elections as the retail did so badly even with black Friday good fortune the
predictions are that sales will be down 10 percent from last year.
After the Christmas holidays we may see many small businesses going bankrupt and many people losing more jobs, the end of January figures are going to
be very interesting to see.
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reply posted on 5-12-2008 @ 10:17 AM by Dbriefed
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Originally posted by marg6043
The unemployment figures were released today and they are looking dangerously high to the point that even Bernanke is worry about it.
U.S. Payrolls Decline by 533,000, Most Since 1974
Payrolls plunged by 533,000 last month, the biggest loss since December 1974, after shrinking a revised 320,000 the prior month, the Labor
Department said today in Washington. November’s losses exceeded all 73 forecasts in a Bloomberg News survey. The jobless rate rose to 6.7 percent,
the highest level since 1993. ...
This story goes one further, from 533K to 1.9M jobs lost.
money.cnn.com...
November: Most jobs lost in 34 years
Payrolls shrink by 533,000, bringing 11-month decline to 1.9 million. Unemployment soars to 6.7%
By David Goldman, CNNMoney.com staff writer
Last Updated: December 5, 2008: 10:57 AM ET
"NEW YORK (CNNMoney.com) -- The economy shed 533,000 jobs in November, according to a government report Friday - bringing the year's total job
losses to 1.9 million...."
[edit on 5-12-2008 by Dbriefed]
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reply posted on 5-12-2008 @ 10:40 AM by marg6043
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Originally posted by Dbriefed
"NEW YORK (CNNMoney.com) -- The economy shed 533,000 jobs in November, according to a government report Friday - bringing the year's total job
losses to 1.9 million...."
1.9 million that means that from that figure we don't know how many will be able to go back into the work force, we also don't know how many are
homeowners now falling for bankruptcy and defaulting on their homes.
One thing is for sure, while our nation's government keeps bailing out th wealthiest in the nation and increasing the national debt and the burden on
the tax payer, states are in need of money to finance social programs for those that are falling under the economic woes.
The homeless in the nation now mostly families is going to start showing its ugly head.
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reply posted on 5-12-2008 @ 02:22 PM by Morningglory
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Freeport-McMoRan Copper & Gold inc.- Freeport-McMoRan Copper & Gold inc.- The Phoenix-based company has issued layoff notices to about 1,400
employees since the first part of November. Argus Research analyst Bill Selesky said mining companies have been forced to act as commodity prices
tumble. Selesky said it's difficult to predict how many layoffs will occur but put a ballpark estimate at 10 percent industrywide. "I think
you could lump all miners regardless of what type of mineral they produce and say yes, they're all going to feel it, maybe not so much the gold
miners because that seems to be the only commodity price that's held up very well under the circumstances," he said. The layoffs announced
Wednesday will occur at Freeport McMoRan's Chino mine near Hurley, N.M., where operations will be suspended. A company spokesman said 600 of the
830 jobs will be cut. Previously, it announced more than 800 job cuts at copper mines in Miami, Morenci, Bagdad and Sierrita in Arizona
and a molybdenum mine in Henderson, Colo. biz.yahoo.com...
Intrawest - Blaming a tough economic climate, resort operator Intrawest Corp. announced companywide job cuts that affect managers and other
employees at some of its Colorado ski areas. Intrawest Corp. this week did not say exactly how many jobs will go at its three owned or operated
Colorado resorts -- Copper Mountain, Steamboat Ski & Resort and Winter Park. Based in Vancouver, British Columbia, the company employs 22,000
workers during the peak winter season. www.rockymountainnews.com...
Mining and the tourist industry often employ entire small mountain communities throughout Colorado. I worked at a ski area and most everyone in that
town was in some way attached to that resort. I would say this situation is similar for the mining industry.
I think things could get bad here in Colorado we don't have an industrial base other than mining/drilling. Tourism depends on those from other states
not much security there. Imo Colorado is quite unique in the number of small isolated mountain towns while they individually have low populations
combined we are possibly talking about huge numbers of unemployed rural people without nearby job resources to fall back on. When the major employer
in these communities go out of business the town for the most part dies.
The numbers of Colorado job losses in mining/tourism in no way can compare to the number of job losses nationwide but for Colorado the loss of mining
and tourism imo would be similar to Detroit loosing the Auto Industry.
Mining operations and ski resorts are located in some of the most isolated areas in Colorado and are dependent on the local work force. Tourism
effects us in ways many of you cannot grasp. Our small local grocery store for example during tourist season has better/fresher selections. With the
number of travelers using cell phones and lap tops there has been a great demand for improvements in communications ie. towers, repeaters, wireless
internet service. Which in turn creates other rural supported industries. We got a new hospital and ER. Tourism brings jobs and much needed
improvements to small towns.
Can Denver handle the influx of the homeless unemployed from all these small mountain communities? Remember also Colorado employers hire a great
number of "seasonal" workers. Some ranch hands and ski area/tourism employees are considered "seasonal" and are not included in unemployment
numbers nor are they eligible for unemployment/workers comp benefits.
Ski season is just beginning many summer ranch hands switch over to ski area operations in winter operating heavy equipment, grooming slopes, making
snow etc. we'll have to see how this plays out.
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reply posted on 11-12-2008 @ 11:56 PM by Dbriefed
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I believe I missed a few announcements, but here's another:
12/11/07 - BofA - 35,000 workers over three years
www.foxbusiness.com...
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reply posted on 12-12-2008 @ 11:44 AM by Jb0311NY
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NEWSDAY MEDIA GROUP Long Island Ny
183 Lay off's active today 12-12
Owned by Cablevison
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reply posted on 12-12-2008 @ 03:50 PM by Dbriefed
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We had 1.9M layoffs this year, 1M in the last three months, and over 500K this month, and I'm seeing more layoff lists already compiled in other
sites.
44soulslayer mentioned www.techcrunch.com...
Here's another site: www.layoffdaily.com...
Too bad we can't create an RSS summary page from those pages.
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reply posted on 12-12-2008 @ 04:04 PM by ZindoDoone
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2500 state workers here in COnnecticut.
query.nytimes.com...
P&W Aircraft; 1000
Chemtura Corp, a Middlebury maker of specialty chemicals, said Friday it will slash its white collar work force by 20 percent, laying off about 500
professional and administrative workers worldwide as its order volume declines in the economic slowdown!
Lincoln Financial Group is eliminating about 120 jobs nationally in its Lincoln Financial Distributors unit, including roughly 15 in Hartford, because
of turmoil in the markets and economy. Affected employees, who were notified of the layoffs earlier...
Nearly all of the 700 layoffs at Foxwoods Resort Casino and MGM Grand will be completed today, ending a nearly three-week process that has reduced the
work force by 6 percent.
AT&T announced Thursday it would lay off 12,000 workers across the country, citing the economy and transformational pressures in the
telecommunications industry.
Thats just what I could gleen in the last five minutes:
Zindo
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