Mike: Good day to all.
- One of my pet peeves remains the rather quiet ride that the MSM is giving upcoming congressional pay raises. Congress enacted law that raises their salary automatically indexed for inflation – a COLA (cost of living allowance) increase. I personally don’t believe that they deserve any raise whatsoever, since they are the stewards of this sinking financial ship and all it’s job losses.
Congress oversaw all the housing/banking/financial corruption and dishonesty while sitting back and doing nothing to prevent those abuses. They readily accepted campaign contributions from the same culprits that created this mess and was complicit in ignoring and often willingly assisted the current financial carnage. Let me list a couple ways that congress acted irresponsibly:
- Congress ignored over-site of the SEC, which allowed bandits like Madoff to develop and perpetuate a $50 bn Ponzi scheme: Securities and Exchange Commission’s failure to heed Markopolos’s warnings about Madoff.
- Glass-Steagall was repealed by both Republicans and Democrats, which allowed banks to engage in risky securities trading, including the most risky derivatives.
- Congress oversaw the demise of Freddie Mac and Fannie Mae, which are the nation’s two largest mortgage lenders.
- The unemployment rate is 7.2% and expected to rise further: The Associated Press: Jobless rate jumps to 7.2 percent in December.
- A record budget deficit of $485.2 billion in the first three months of the fiscal year: Bloomberg.com: Worldwide.
- Congress blindly wrote checks totalling $350 bn to bailout the same crocked financial institutions and they didn’t even demand any type of financial accountability of how the money was to be used. That $350 bn doesn’t include the $100 bn given to bailout AIG. AFP: US Treasury slammed over handling of financial bailout.
- Congress shouldn’t accept a raise until they perform their duties in a competent manner. Stupidity, ignorance, greed, befriending lobbyists at the expense of constituents, and endless campaigning are not reasons to be receiving pay raises. There are a few honest politicians who take their jobs seriously and are quite capable, but as Henry Kissinger put so aptly, “Ninety percent of politicians give the other ten percent a bad reputation.”
- Visit DOES CONGRESS DESERVE A PAY RAISE? and voice your opinion by filling out the simple form letter.
- There is some action pressure mounting to stop these automatic raises and let’s hope the voices get louder:
* With Congress under fire for accepting a pay raise while many Americans are getting pink slips, momentum is building to nix the automatic pay hike for 2010.
Angry feedback from constituents could push the issue to a vote this year, according to taxpayer watchdog groups and supporters of legislation introduced in the House last week.
- Thanks for listening. Onto today’s layoff news:
- Microsoft and IBM Rumors/News
General Economic News
US and some Canada Layoff News
* A wild news day for tech stocks, with Sony posting its first quarterly loss in 14 years and rumors running rampant that Microsoft will start laying off employees after all.
A week or so ago, Microsoft issued a statement saying that the company would avoid layoffs, and would instead focus on cutting back on contractors and not replacing employees who left the company. So much for that, apparently. But we’ll know for sure by January 22, the date of Microsoft’s next earnings call.
* Did SAP & Oracle cut loose staff?
There have been a number of web sites reporting planned or executed layoffs at various software firms. Some of the rumored layoffs are supposed to occur at venerable firms like SAP, Oracle, Infor and others.
* Tomb Raider: Underworld’s lackluster performance has left Eidos smarting. Earlier this week, the British publisher revealed that sales of the game, while respectable at 1.5 million units worldwide, failed to live up to the company’s internal expectations. As a result of the lackluster sales, Eidos said it would be trimming its full-year revenue forecast by £20 million ($30.39 million).
The game’s performance has apparently negatively impacted developer Crystal Dynamics. Over the weekend, Joystiq received word that the Redwood City, California-based developer served approximately 30 staffers their walking papers on Friday.
* When economist Jeff Carr builds his economic forecast for the state, he estimates how many jobs the state will lose. Carr makes a special estimate for Vermont’s largest manufacturer, IBM.
He projects the Essex Junction semiconductor plant will lay off 400 workers a year over the next five years. “I don’t know if that’s enough. That was before the latest rumors,” he cautioned Tuesday.
* Telecom company Nortel Networks Corp. could be set to file for bankruptcy protection as early as Wednesday morning.
The board of directors of North America’s largest telecom equipment maker met in Toronto Tuesday night to discuss the company’s limited financial options.
* Motorola’s (MOT) cellphone division layoffs are set to start today, Phone Scoop editor Eric Zeman says on Twitter.
“According to some DM’s I got from Motorola peeps, the layoffs are happening today. Keep an eye out for announcements via WSJ, Reuters, et al”
* 9:40 AM — It seems there’s more dire device business news to come from Motorola Inc. (NYSE: MOT – message board) in 2009. Speculation is mounting that Motorola is set to announce later this week major cost cutting measures, including more layoffs in its struggling handset division.
* NEW YORK, Jan 13 (Reuters) – Motorola Inc (MOT.N) is expected to make steep cost cuts, including more layoffs, at its mobile devices division as a broad slump in demand for cell phones exacerbates its own market share declines.
With even market leader Nokia (NOK1V.HE) warning about weakening phone demand, analysts say Motorola could miss Wall Street’s already low expectations for phone sales in the fourth quarter and the current quarter.
* WASHINGTON (AP) — Retail sales plunged far more than expected in December, a record sixth straight monthly decline as consumers were battered by a recession, a severe credit crisis and soaring job losses, none of which are likely to ease anytime soon.
The Commerce Department reported Wednesday that retail sales dropped 2.7 percent last month, more than double the 1.2 percent decline that Wall Street expected.
Mike: Below is another optimistic report from the feds who have to come out with optimistic reports to calm the public. His determination that unemployment won’t reach double digits is one of those rose-colored-glasses scenarios. He fails to say that the unemployment rate is calculated differently than it was in the 1980s as discouraged workers are no longer counted in today’s unemployment figures. As a result, the true unemployment figure today is already greater than 10% as shown in the graph that follows:
Mike: According to Shadow Government Statistics “The SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated “discouraged workers” defined away during the Clinton Administration added to the existing BLS estimates of level U-6 unemployment.” So the following fed statement is false if you are comparing 1980′s and 2000′s unemployment numbers. Why they continue to twist the truth and confuse the matter is something I find disheartening, if not disturbing.
* NEWARK, Del. (AP) — The president of the Federal Reserve Bank of Philadelphia expects the economy to slowly start recovering in the second half of 2009 and inflation to remain below 2 percent over the next year.
In a speech Wednesday at the University of Delaware, Charles Plosser also said that the unemployment rate probably won’t drop anytime soon, but that he doesn’t expect it to rise to double digits, as it did during the recession of the early 1980s.
* Yet another ignominious statistic to close out the nation’s decade of descent. The United States now has 3.8 job seekers for every job vacancy, the U.S. Labor Department’s Bureau of Labor Statistics announced Tuesday.
What’s more, the 3.8 job seeker stat in November 2008 is more than double the 1.8 job seekers per job vacancy stat recorded a year ago, in November 2007. The nation had 3.4 job seekers per vacancy in the previous month, October 2008.
* WASHINGTON — After years of record highs, the trade gap has taken a dive. It’s a bit of good news on the surface, but it happened for a bad reason: A severe recession has sharply cut U.S. demand for foreign-made goods.
The deficit for November plunged by 28.7 percent to $40.4 billion, the Commerce Department reported Tuesday. That was the lowest monthly trade gap in five years and a far bigger improvement than economists had been expecting.
* A tidal wave of discontent threatens China
The most famous Chinese dissident predicts the Government will be trapped between the angry poor and the powerful rich
The whole world is suffering from an economic crisis. Some in the West, like a desperate drowning man clutching at a straw, have said the Chinese Government has a lot of money, let us beg them to save us from the crisis. But they do not realise that the Government in Beijing does not know how to save itself.
China has a $2 trillion foreign currency reserve but it also suffers from a huge disparity between the rich and poor: while 0.4 per cent of the people hold 70 per cent of the wealth of the country, a fifth of the population – more than 300 million Chinese – have daily incomes of less than one dollar. This extreme concentration of wealth is a serious problem for the Chinese Government and threatens its grip on power.
* The 25 strongest housing markets in America
* The governor also proposes eliminating the Kansas Technology Enterprise Corp and Kansas Inc, which would mean the loss of 21 jobs total in 2010. Those positions would be absorbed by Commerce.
A 14-week, or seven pay period, moratorium on payments into the state employee health plan would free up $23.7 million. Goossen said there is enough money in the health plan fund that suspending the payments would not affect current health benefits of state employees.
A number of tax cuts planned for FY 2010 would be suspended indefinitely.
* SARASOTA COUNTY – School Board members will be asked today to move forward with $31 million in budget cuts, some of which will have a dramatic impact on how students learn in Sarasota classrooms.
The proposals include eliminating 43 data and literacy coaches and cutting the high school block schedule — both core pieces of the district’s Next Generation strategic plan to help keep struggling students from falling behind.
* Los Angeles Unified school board members voted Tuesday to send layoff notices to about 2,300 teachers, although the district superintendent said the move might not lead to layoffs if more money can be found.
Beginning this week, about a third of the teachers who have been with the district for two years or less will receive notice that they could be laid off within two weeks.
* LODI – The Lodi Unified Board of Trustees made its first round of teacher layoffs Tuesday night and heard reports on how district office staff could be reduced mightily in the coming months to help bridge a $20 million budget shortfall and declining enrollment.
With a 7-0 vote, trustees opted to lay off six temporary elementary teacher positions and eliminate 120 percent contracts for high school instructors who work through their daily preparatory periods
* TUSCALOOSA | The Tuscaloosa County Schools notified 71 employees Tuesday that their jobs would be eliminated in two weeks, part of more than $8 million in budget reductions that will be implemented as quickly as possible.
* About 180 longtime St. Paul city workers will be asked to retire voluntarily before the end of the month as Mayor Chris Coleman attempts to reduce costs.
Officials will roll out the plan this morning at a City Council Budget Committee meeting in City Hall.
The administration also will continue its hiring freeze, encourage workers to voluntarily reduce their hours or take unpaid leaves, reduce overtime and freeze the wages of nonunion workers, including Coleman.
* Visalia, CA, USA (KFSN) — Tulare County Supervisors voted to lay off more than two hundred people, and close two clinics. It’s part of the board’s plan to bridge a two-point-four million dollar budget deficit.
Dozens showed up to Tuesdays Board of Supervisors meeting angry that the county couldn’t find another way to save money that didn’t include closing the two clinics. But supervisors hope a local hospital can still provide the same services.
* TRENTON, Maine (AP) — A luxury yacht maker that laid off 49 workers in October now says that 25 more employees at its production facility in Trenton are being let go.
* Nacogdoches, TX (KTRE) – Pilgrim’s Pride has announced that 450 employees will be laid off from the Nacogdoches Plant. Company spokesman Ray Atkinson tells KTRE’s East Texas News that the employees were notified last week. Two-hundred-fifty of the positions are temporary, and roughly 100 have been there less than 90 days. Many of those who will lose their job will be able to find employment in the Lufkin plant. And, according to Atkinson, others will be given the opportunity to work at other plants around Texas.
* Bank of America Corp. will lay off 139 employees in Ballantyne, according to a filing with the N.C. Department of Commerce.
The jobs will be cut by March 10. Eligible employees will be offered severance.
Mike: An excellent discussion of the Pfizer layoffs can be found at the link below:
* Pfizer’s made an announcement about the dimensions of its research cuts – 5 to 8%, which means about 500 to 800 scientists this year. These are (for the most part, I presume) the “not in our current research areas” people from the company’s recent re-work of their therapeutic areas.
* CHEYENNE (WTE) –About 66 Cheyenne workers were laid off from Sierra Trading Post here Monday.
An additional 18 were laid off in Cody and Boise, Idaho, making for a total of about 10 percent of the company’s workforce.
* GE Transportation, which has hired nearly 2,000 people in the past five years, could be poised to let some of them go.
“Given the brutal economic environment, there is a high probability of layoffs,” company spokesman Stephan Koller said Monday.
Just last week, the company temporarily furloughed 35 people due to a lack of work.
* Pfizer is cutting 556 sales reps in Italy and about 800 researchers across its R&D divisions worldwide. The moves were expected, as Pfizer braces for a round of cuts at the end of January as part of CEO Jeff Kindler’s plan to ax $2 billion from its cost structure. (Read BNET’s back-story on Pfizer’s layoff plans here.)
* YADKINVILLE, N.C. — Around 20 employees at the Yadkinville Unifi plant will be losing their jobs due to a company shift restructuring, Unifi spokesman Ron Smith said.
* GreenFiber LLC announced it is closing its Sacramento, Calif., insulation plant. The company, headquartered in Charlotte, N.C., will service customers in California from its facilities in Salt Lake City, Utah and Phoenix.
* NEW YORK (MarketWatch) — Sunoco Inc. said Tuesday that it will close a polypropylene manufacturing facility in Bayport, Texas, by April 30. The Philadelphia-based petroleum-refining company said its three other polypropylene facilities will assume part of Bayport’s production.
* Anderson business Pre-Employ.com laid off about 10 employees Jan. 1 in positions that were found to be redundant after a business acquisition and internal reorganization, according to Pre-Employ.com C.E.O. Robert Mather.
* We’re hearing that some on- and off-air talent at KGO Radio are being let go.
They are, we’re told by an inside source: Anchor Gregg Jarrett, East Bay reporter Greg Edmonds, producer Harry Hall, internet producer David Rich; and Sue Ostrom, general manager Mickey Luckoff’s secretary of 41 years.
via The Bottom Line.
* In a meeting with employees yesterday, Old Salem said it will lay off workers and change the way it tells its story to tourists.
The museum will trim its staff from 120 to 95 full-time workers and from 103 to 79 part-time workers through voluntary retirements and layoffs, said Lee French, the president of Old Salem Inc.
* SAN FRANCISCO (MarketWatch) — Server and storage technology company Rackable Systems Inc. said late Tuesday it has reduced its expectations for its financial results for 2008, helping send its shares nearly 10% lower in late trading.
* TACOMA, Wash. —KeyBank’s call center in Tacoma is being closed, and bank officials say 200 workers face layoffs this year.
The Cleveland-based bank’s regional president, Tom Spilman, tells The News Tribune hr spoke with the affected employees Tuesday. Spillman says other call center jobs will be available to them in Cleveland or Buffalo, N.Y., and other kinds of jobs may be available in the Puget Sound area
* After cutbacks this fall, an additional 13 employees of Midwest Grain Company in Pekin were laid off Tuesday. That’s according to their union president.
* A major Sarnia engineering firm is laying off 10 per cent of its workforce.
Colt Engineering’s 330 member staff is being reduced by 30 to 40.
* MARSHALL, Minn. — The Schwan Food Co. is cutting more jobs, citing the need to stay competitive in the frozen food industry during challenging economic times.
The Marshall-based company announced it’s second group of layoffs in the last four months. The company cut 52 jobs.
* NEW YORK, Jan 13 (Reuters) – Oracle Corp. has trimmed its workforce, but not as much as some people had speculated, The Wall Street Journal reported on Tuesday.
Citing people familiar with the matter, the newspaper said the software giant cut around 500 positions in its North American sales and consulting businesses on Friday.
* Officials with the Cajundome announced a 20% deficit reduction plan, that unfortunately calls for the elimination of jobs.
Cajun Dome Director Gregory Davis, tells TV 10 a number of factors, including the national economy and the newly required sales tax is to blame for the one million dollar deficit in their five million dollar budget.
* Topeka-based Security Benefit is cutting 120 jobs.
The move is part of part of several the company announced Tuesday in light of current market conditions. They’re also keeping associate salaries flat, reducing compensation for key officers and eliminating non-essential operating expenses.
* Announcements were made Tuesday January 13th that as many as sixteen employees will be getting pink slips. The cuts cross a wide array of services: eight directors of ministries, from hispanic ministries to religious education to social justice and others. In addition eight more part time workers on staff will be axed.
Father Robert Siler is a spokesman for the diocese. Siler says the church’s funds are way off: “We knew that our investment fund had suffered a loss over the last fiscal year and of course the economy has just gotten worse over the last six months,” he says.
* In past economic downturns, many people have applied for jobs at hospitals because health care had been considered recession-proof.
But this downturn is not like others, and one Columbus hospital system has announced job cuts as the others tighten their belts.
Mount Carmel Health System announced today that it will eliminate 300 positions from its payroll. The cuts include an unspecified number of layoffs.
* Neiman Marcus Inc. is laying off about 375 employees this week across all divisions, including Neiman’s stores, Bergdorf Goodman and NM Direct.
The reduction in the luxury retailer’s 16,000 employees is the result of an efficiency review that started several months ago, said Ginger Reeder, a company spokeswoman.
* DUBUQUE, Iowa – Deere & Co. is announcing more layoffs at its Dubuque plant.
John Deere Dubuque Works says it will indefinitely layoff another 40 people as a result of economic conditions. The company announced the move on Tuesday and says the job cuts are effective Feb. 9.
* Florida Tile underwent a consolidation last month in response to the U.S. economic downturn, Zerbini said. Ten positions were cut from Lakeland’s operations, leaving about 60 employees. In total, 30 positions were cut companywide.
* VENICE – PGT Inc. laid off another 150 people in the face of the downturn in Florida’s home building industry.
The latest round leaves the Venice-based maker of hurricane-resistant windows and doors with a work force of 1,350, down 44 percent from its peak.
The financial services company ING will be cutting jobs throughout the nation, in light of the current economic situation.
750 people nationally will be let go, but just a fraction of that will come from the Minot office.
18 to 20 people in Minot will be let go.
Minot`s ING currently employs about 900 people.
* ING Group will lay off 750 employees in the U.S., including 96 in the Hartford area, as the Dutch financial services company
trims expenses in a recession that has taken a heavy toll on the stock market and property values.
* Heil officials said Tuesday it will lay off about 100 people this week at its Fort Payne plant.
Officials said the layoffs are due to cities’ budget cuts and the postponement of some planned capital equipment purchases both nationally and globally. The decision comes as the refuse collection vehicle manufacturer looks to reduce costs.
via The Times-Journal.
* Another valley business says it’s going to have to lay off some of its employees due to the economy. Up to 90 employees at American Standard in Salem will be out of a job this coming Monday.
* SOLOMON — Cutting 16 jobs isn’t huge when the payroll exceeds 500, Katie Platten said, but it’s enormous if you’re one of the 16 cut Monday at Solomon Corp.
“It was a very hard day, one of those days where it’s not very fun to own a company. It is painful,” said Platten, who owns Solomon Corp. with her four brothers, Tom, Matt, Phil and Joe Hemmer.
* WATERLOO, Iowa – Wheaton Franciscan Healthcare-Iowa plans to eliminate about 80 full-time, non-clinical positions over the next year
because of worsening national economic conditions.
* Sonus Networks, Inc. (SONS: News ) on Tuesday announced a restructuring initiative to further reduce its workforce by about 40 people,
or 4% of employees worldwide.
* Continental AG expects to cut about 10% of its North American workforce this year, as the supplier reduces its costs to meet lower production
volumes and continues to integrate the operations of automotive electronics maker Siemens VDO.
The North American arm of Continental — a German supplier that makes engine components, safety systems, tires and electronics —
is based in Auburn Hills.
* Lowe’s Cos. Inc. will cut 31 jobs at the end of January, including 17 in Wilkesboro.
* (RTTNews) - Tuesday, biopharmaceutical company GeoPharma Inc. (GORX: News ) said it plans to consolidate distribution operations,
reduce head count and lower SG&A, as a part of its strategic restructuring plan to improve financial performance.
* Fenner Plc (FENR.L) said on Wednesday it would cut 290 jobs to reduce costs in some markets experiencing weaker demand, and reported satisfactory first-quarter trading that was ahead of last year.
* SACRAMENTO, Calif.—J.C. Penney says it will close its call center in the Sacramento suburb of Carmichael, eliminating 260 jobs.
* DECATUR – Everything goes, including Tommy, the resident cat.
Ryan Equipment and Supply, selling and renting equipment and supplies for the food industry and janitorial industry for 39 years, is closing Friday, Jan. 16.
There’s a ground floor showroom and three floors of items, 32,000 is Wally Ryan’s guess, in the huge building at 805 N. Morgan St. “It’s the only business of its kind in Decatur,” Ryan explains.
* SAN FRANCISCO (AP) — Retailer Gottschalks Inc. says it put itself up for sale and has filed to reorganize in a Chapter 11 bankruptcy.
The regional department store chain has negotiated a $125 million debtor-in-possession financing from a group of lenders led by GE Capital, it
said in a statement Wednesday. The financing, if approved in bankruptcy court, will fund its employee wages and benefits, some vendor payments
and other operating expenses while it reorganizes.
* January 14, 2009 09:09 AM – More than 800 members of the Canadian Auto Workers union will lose their jobs as part of a new collective agreement reached with Air Canada.
* A union leader said Tuesday that Mercy Health Partners officials reneged on a 2008 pledge to keep layoffs to a minimum when they announced plans earlier this week to cut 31 nursing jobs.
* Hill-Rom Co. said Wednesday it will combine some operations and cut 450 jobs in response to softening demand for its products.
The medical products company said it posted revenue of $350 million, up 2.6 percent, for its fiscal first quarter. It will report complete first-quarter results Feb. 5.
* Lakeside Steel Inc. (TSX-V:LS) says it is laying off up to 61 hourly employees at its manufacturing site in Welland, Ont.
The company, which also laid off 40 employees in December, says the move is being made to contain costs in declining markets.
* WHEELING – The recession has hit the local newspaper business.
Workers confirm they were called into the office at the Ogden downtown location on Tuesday and notified by newspaper management their jobs were eliminated.
* Newell Rubbermaid Inc. plans to cut 75 jobs from its manufacturing facility in the south-central Kansas town of Winfield as it copes with the global economic downturn.
Employees learned of the layoffs Monday, and the Atlanta-based company announced them publicly Tuesday.
* About 150 people are no longer working for Nabors Drilling USA in Williston as falling oil prices have produced layoffs that are likely to expand.
“There will be more layoffs,” said Scott Reid, Nabors’ district manager.
* POINT TUPPER — Upwards of 40 workers could be laid off as one of the two paper machines at the NewPage mill in Point Tupper shuts down for a week, a union official says. Ronnie Beaton, president of the Communications, Energy and Paperworkers Local 972, said that word came from a meeting between the union and NewPage Port Hawkesbury management Tuesday morning. A more precise number of those who will be laid off during the shutdown won’t be known until later in the week, however.
* CASPER, Wyo. (AP) – Casper Star-Tribune Communications has announced that it’s laying off 15 employees to cut costs in response to the economic downturn.
* Gannett Inc., struggling with falling advertising revenue at its newspapers, is making almost all employees, from part-time and hourly workers all the way up to Chief Executive Officer Craig Dubow take one week of unpaid leave this quarter.
* Seagate (STX), which earlier this week pushed out CEO Bill Watkins and announced a 10% cut in its U.S. workforce, this morning disclosed that it will cut its global staff by 2,950 people, or about 6% of its total headcount. The announcement includes the previously announced U.S. job cuts.
* Lakeside Steel Inc. is laying off up to 61 hourly employees in Welland.
The company, says the move is to contain costs in declining markets.
The layoff represents about 19% of its unionized workforce at the Welland site.
* NEW YORK — Employees have been laid off at two newly formed divisions of Random House Inc.
The Crown Publishing Group, where authors include President-elect Barack Obama, and the Knopf Doubleday Group, which publishes Toni Morrison and Anne Rice among others, separately announced a wave of promotions and personnel changes on Wednesday, and confirmed that some employees had been cut.
* Adhesives Research of Springfield Township said it is permanently laying off 45 workers from its main facility near Glen Rock in the first layoff of any kind for the company in more than 30 years.
Prior to the cuts, the company employed about 415 people at the Glen Rock facility and about 515 globally. The permanent layoffs are effective today and the economy is to blame, Adhesives Research said.
* Reebok International Ltd. laid off approximately 300 employees in North America and Latin America today, including 100 at its Canton headquarters and 12 at its Mattapoisett headwear facility.
* WASHINGTON — Departing administrator Michael Griffin warned Tuesday that NASA would have to lay off an unspecified number of contractors if Congress freezes the agency’s spending at current levels.
* ROGUE RIVER, Ore. (AP) — A plywood plant in Rogue River has closed, putting 125 employees out of work.
Panel Products, which is Rogue River’s largest employer, says it is closing the plant because demand for plywood is down.
* Sleep Innovations Inc. will permanently close its Elkhart plant, resulting in the layoffs of 104 workers, according to a Jan. 12 letter sent by the company to the Indiana Department of Workforce Development.
* Crystal Cabinet Works laid off an estimated 100 plus employees Wednesday last week.
The factory, which has been in Princeton since 1975, had a workforce of 560 before the layoff.
* More layoffs are rippling through Seattle’s tech community. The latest is Varolii. The Seattle-based software company laid off 8 percent of its staff yesterday.
Spokeswoman Robin Rees said many of the laid-off employees were in finance and administration, an area where Varolii had beefed up after it filed for an initial public offering in Sept. 2007. Varolii withdrew its IPO registration last June.
* SANTA CRUZ – Plantronics will lay off 18 percent of its worldwide work force, cut management salaries and reduce other operating expenses, company officials announced today.
Company officials did not release details about the timing or location of the layoffs.
Company officials said revenue and earnings per share for the third quarter of fiscal 2009 will be lower than originally expected. They had projected net revenues of $205 million to $220 million but now are expecting revenues to be $184 million for the third quarter. Final third-quarter earnings will be announced Jan. 27.
* Rumors have been flying lately and the tip emails won’t stop – now Motorola’s plans to undergo a significant workforce reduction have been confirmed by the Chicago Tribune. When all is said and done this year, Motorola will have laid off approximately 4,000 workers across all divisions. The hardest hit area of the company, as we’re sure you could have guessed, will be the mobile phone division.
* Jan. 14 (Bloomberg) — Motorola Inc., the second-biggest U.S. seller of mobile phones, is cutting 4,000 more jobs as the economic slump erodes consumer spending.
About three-fourths of the cuts will come from its mobile devices unit, Schaumburg, Illinois-based Motorola said today in a statement. The reduction follows 3,000 cuts disclosed in October as the declining phone business leached profitability.
* Smart Modular, the Fremont maker of storage chips, said it is planning to cut an other 5 percent to 7 percent of its employees, on top of the 19 percent it reported laying off in September.
* Ecolab Inc., which provides cleaning and pest-control services, said Wednesday it will cut 4 percent of its work force in a restructuring move, but backed its prior 2008 profit outlook.
The company expects to cut 1,000 positions, or 4 percent of staff, while taking other cost cutting measures. It expects a charge during the fourth quarter of about $19 million and between $65 million and $75 million in 2009. But the company expects the move to eventually save it between $70 million and $80 million annually.
* Jan. 14 (Bloomberg) — General Electric Co., the world’s biggest jet-engine maker, plans to eliminate more than 1,000 salaried jobs at its GE Aviation division as orders slow and it integrates the acquisition of Smiths Group Plc’s aerospace unit.
* LONDON (AFP) — British banking giant Barclays is to cut over 2,000 jobs in its retail and commercial businesses, it said Wednesday, a day after announcing a similar number of job losses in its investment divisions.
* Merrill Lynch and Bank of America, its new owner, are planning to slash nearly 1,900 jobs in London, a move which would represent one of largest single layoffs in the history of the City, according to a report in The Times, London.
* Train company DSB announces administrative layoffs
National train company DSB has announced that it will layoff 200 administrative employees as part of cost cutting measures.
via Train layoffs.
* The ConMet plant in Canton announced today it could be laying off as many as 80 workers. Employees say they were told of the coming layoffs in a meeting, but they still don’t know exactly how many there will be, or who they will affect.
via ABC 13 – Top Stories.
* Jiangsu-based photovoltaic cell and module manufacturer Suntech Power Holdings (NYSE:STP) CEO and chairman Dr. Zhengrong Shi said on Monday night that the company has cut 800 employees, about 10% of its staff, reports China Business News in a follow-up to rumors that the company was laying off 4,000 employees between October and January.
* Teesside chemical plant Invista Textiles is to close with the loss of 300 jobs.
Teesside chemical plant Invista Textiles is to close with the loss of 300 jobs.
* The Department of Labor has ordered the revocation of the work permits of 155 alien workers at Uno Moda Corp. effective Jan. 31, 2009, the date of the garment factory’s shutdown.
via Saipan Tribune.
* Published Date: 13 January 2009
The UK’s last major TV manufacturer is closing its Suffolk base with the loss of 60 jobs.
Sanyo UK plans to stop work at its factory in School Road, Lowestoft, by the end of February.
* LIMA, Peru (AP) — A Peruvian labor federation says 5,460 mining and steel workers have lost their jobs since the start of November as sinking global mineral prices hammer the mining sector and stall new investments.
* News that 250 jobs will be lost from mining closures in the Mt Isa region will take the gloss off the good monsoon season, a local councillor has said.
* DUBAI: An average of 1,500 work permits and visas are being canceled in Dubai each day as companies lay off employees in the wake of the global financial crisis.
* WA-based Argyle Diamonds, the world’s largest supplier of diamonds, is believed to be laying off more than 100 staff as it becomes the latest victim of its owner’s cost-cutting.
* LONDON, Jan 14 (Reuters) – British luxury car manufacturer Jaguar Land Rover announced 450 job losses on Wednesday due to a “severe” reduction in demand for new cars.
The Coventry, West Midlands-based company, part of India’s Tata Motors (TAMO.BO) said it was proposing to shed about 300 management roles and a further 150 salaried agency staff.
* Dutch bank Van Lanschot (VLAN.AS) will cut salaries of its employees by up to 10 percent and lay off a few dozen people to reduce costs and cope with the economic slowdown, the company said on Wednesday.
* Tens of thousands of public sector jobs will be lost across Britain this year as councils struggle to cope with the impact of the recession.
Forty councils approached by The Times yesterday were planning a total of 7,000 redundancies, and unions fear that few of the 442 local authorities across England, Scotland and Wales will escape the cutbacks. Although most of the job losses will be among backroom staff, there is concern that services will be affected.
* DUBLIN BUS plans to reduce its fleet by more than 100 buses and cut at least 250 jobs as part of a radical restructuring plan aimed at countering a significant reduction in passenger numbers.
* Civils sector no longer immune to credit crunch as consultant prepares to shed up to 8% of UK workforce
Engineering giant Arup is preparing to cut up to 400 staff in the UK, the latest sign that the recession has taken hold in the civil engineering sector.
* Sweden’s second biggest hospital plans to cut 900 jobs, or 6 percent of its work force, in an effort to cut costs by 450 million kronor ($55 million) a year, officials said Wednesday.
* At a time when jobs are scarce, there is at least one employer who is recruiting: the federal government.
The local office of the 2010 Census is looking to fill some 1,300 temporary positions in the next few months to help count the residents of San Diego County. The government especially is looking for bilingual applicants for jobs that range from office administrators and recruiters to workers who actually go house to house.
* You may be wanted by the FBI and not even know it. Even though unemployment continues to rise in the United States, the FBI is offering thousands of new positions.
The FBI calls it a hiring frenzy, and hopes to add nearly 3,000 new employees in 2009. Special Agent in Charge Keith Slotter says hiring during a recession has its advantages.
* The long-awaited return promises to bring a couple hundred jobs at a crucial time for the local economy. House of Blues is holding a job fair from 9 a.m. to 7 p.m. today and on Wednesday at Fenway Park’s Absolut Clubhouse, around the corner on Brookline Avenue.
Robert Simeone, a senior vice president of operations with Live Nation Inc.’s House of Blues chain, said the company has already filled about 20 management positions and is looking to fill another 200 nonmanagement positions, such as food servers, door hosts, retail workers and bartenders
Mike: The perfect job follows, but unfortunately it had so many applicants that the site crashed. Maybe it will be back up and running tomorrow:
* The job, which was announced on Monday by the Queensland tourist board, will involve looking after Hamilton Island.
The idyllic island, just off mainland Australia, has year-round sunshine, sandy beaches, warm lagoons and sea life galore.
People enticed by the almost £6,000-a-month “best job in the world” flocked to Islandreefjob.com – only for the site to crash.
Mike: The layoff announcements picked up steam later this day and culminated with the layoff of 4000 Motorola. I’ll post any significant news this evening, but hopefully all is relatively quiet and tomorrow brings a little relief. On that note I leave you with a couple laughs……………..