- Johnson Controls to cut jobs, close 10 plants
- Buyouts at GM open door for hiring at lower wages
- Tyson to shut Okla. plant, affects 580 jobs
- Disney To Eliminate 800 Jobs
- Wal-Mart axes 650 Columbus jobs
- Amazon.com to close three US distribution centers , layoff 210
- Cooper-Standard Automotive eliminates 600 salaried positions
- Merck’s jobs axe is put to work
- Daido Metal closing Bellefontaine plant, cutting 290:
Mike: If you’re interested in following the IBM layoff saga along with employee comments and updates, visit http://www.endicottalliance.org/ .
* Copy of letter regarding outsourcing, from Senior DPE – Hartford Insurance Account
“Starting next week several Hartford delivery teams will be working directly with fellow IBM team members from India to begin the second phase of our Global delivery solution planned for the Hartford account. The teams will be engaged in a multi-week effort to facilitate knowledge transfer to prepare for migration of specific work activities to global delivery counterparts later in 2009. Your continued support and leadership is critical to ensure our overall success and to ensure we continue to deliver high quality cost effective solutions that IBM committed to the Hartford. Please ensure you and your teams actively support this effort.”
* International Business Machines Corp. came under fire from labor organizers Thursday on reported plans that it will cut 5,000 jobs and send work to India while seeking federal stimulus funds.
* At least 334 employees in Research Triangle Park were affected by IBM’s layoffs this week, according to documents filed with the state.
* Update: Google Inc. is planning to cut scores of jobs after saying it hired too many people into overlapping jobs.
“When companies grow that quickly it’s almost impossible to get everything right—and we certainly didn’t,” said Omid Kordestani, Google (Nasdaq:GOOG) senior VP for global sales and business development in a blog posting on Thursday. “In some areas we’ve created overlapping organizations which not only duplicate effort but also complicate the decision-making process.”
* Staffers at Apple’s (AAPL) flagship Fifth Avenue store in New York City confirm that as of Thursday at 8 a.m., customers are now permitted to buy unlimited quantities of iPhones without an AT&T contract — the very thing the company was working so hard to prevent in late 2007 when the devices were being snapped up in large quantities to be unlocked and re-sold in overseas markets.
8:30 AM ET
The Commerce Department reported Friday that consumer spending edged up 0.2 percent in February, in line with expectations. That follows a huge 1 percent jump in January that was even better than the 0.6 percent rise originally reported.
But the report says incomes fell by 0.2 percent in February, the fourth drop in the past five months, declines that reflected the sizable number of job layoffs that have been occurring because of the recession.
9:55 AM ET
* The Reuters/University of Michigan Surveys of Consumers said its final index of sentiment rose to 57.3 in March from 56.3 in February. This was a touch above economists’ median expectation of a 56.6 reading, according to a Reuters poll.
* The 7,631 United Auto Workers who accepted early retirement and buyout offers this week from General Motors Corp. — more than 53 percent of whom work in Michigan — will make room for laid off workers to reclaim their jobs.
More importantly for GM, the departures give the automaker room eventually to hire new workers at half the hourly wage, a key to helping the company slash costs and comply with a $13.4 billion federal loan package. The loans require GM and Chrysler LLC to bring wages in line with those paid by foreign automakers at plants in the United States.
Mike: As I’ve said on numerous occasions, the current reported unemployment rate is less than actual unemployment, which could add another 5-8% to the total.
* Michigan’s jobless rate climbed to 12 percent, the highest in the country. South Carolina registered the second-highest at 11 percent and Oregon came in third at 10.8 percent.
North Carolina came in fourth with an unemployment rate of 10.7 percent, the highest there on records dating back to 1976. California and Rhode Island tied for fifth place at 10.5 percent each. That was an all-time high for Rhode Island. The seventh state with a jobless rate above 10 percent was Nevada at 10.1 percent.
Mike: Wow, a state where government officials are taking an active role in sacrificing for the good of the citizens they represent! You don’t see that very often. I know NY legislators wouldn’t be thinking in terms of a salary reduction, since they wouldjust raise taxes or fees to cvover any budget shortfall.
* LANSING, Mich. (AP) — Lawmakers, the governor and other state elected officials would take a 10 percent pay cut starting in 2011 under a measure that won approval Thursday in the Michigan Senate.
* Lake Zurich Unit District 95 approved the dismissal of 91 staff members including tenured and nontenured teachers, administrators and other employees on Thursday night.
* Anne Arundel County Executive John R. Leopold plans to save nearly $6 million a year by scrapping more than 100 vacant government positions.
* The school board cut 222 jobs as part of a $14 million package of cuts and tabled a proposal to study the feasibility of a parcel tax a little before midnight Wednesday.
* Charlotte-Mecklenburg Schools is cutting its workforce by 106 positions.
* MILWAUKEE (AP) — Johnson Controls says it will cut jobs and close 10 plants as part of a restructuring effort that will cost between $200 million and $215 million.
The Milwaukee-based maker of auto parts and building systems did not say how many employees will be affected or which plants will close. It says it will take the charge in its fiscal second quarter ending this month. The company expects to finish the restructuring in 2010.
* Auto-parts supplier Johnson Controls (JCI Quote – Cramer on JCI – Stock Picks) plans to cut jobs, close 10 manufacturing plants, and record an estimated second-quarter pretax restructuring charge of $200 million to $215 million as it battles a slump in vehicle production.
Market Activity The number of job cuts wasn’t specified.
* Wal-Mart delivered good news to two of its optical labs Friday, but it comes at the expense of the retailer’s Lockbourne operation, which will be shuttered, laying off 650 employees.
* Tyson Foods Inc. said Friday it will close a meat processing plant in Ponca City, Okla., meaning the possible elimination of 580 jobs.
* The Seattle retail online biggie Amazon. com Inc. will soon be closing its three US distribution centers – in Munster, Indiana; Red Rock, Nevada; and Chambersburg, Pennsylvania.
The company’s decision to close down the distribution centers, the first time since 2006 that Amazon has decided to close a warehouse, implies that nearly 210 employees will either be laid-off or transferred to other nearby units.
* San Jose, Calif.-based Fairchild Semiconductor (nyse: FCS – news – people ) says it’s closing the factory in Mountain Top, Luzerne County, about 90 miles north-northwest of Philadelphia. But Fairchild says it will maintain a small office in the area for technology and product line functions.
* SOUTH LAKE TAHOE, Calif.—The health care company that owns Barton Memorial Hospital at Lake Tahoe and clinics in Carson City and the Carson Valley says it is being forced to eliminate 43 jobs.
* Roughly 86 more employees are planned to be cut from the Regional Medical Center at Memphis.
* And with Merck and Schering-Plough destined to merge later this year, the job cuts are due to step up a notch. If the current round is part of the previously announced restructuring plan, they’re just a warm-up for an expected 16,000 or so additional cuts.
* More than 140 employees of the University of Florida would lose their jobs under worst-case budget plans being prepared by various UF colleges.
* Cooper-Standard Automotive Inc. is cutting about 600 global salaried employees as it reorganizes into a regionally-focused corporate structure, the supplier said today. About 130 of the cuts are in southeast Michigan.
* Another 156 workers at Longview-area Trinity Rail Car plants were notified Thursday that they soon will be out of work.
Representatives of Trinity Tank Car’s Longview operations told their employees of the company’s plans to idle two local manufacturing facilities. Trinity Tank Car is a division of Dallas-based Trinity Industries.
*STAUNTON — The Big Brothers-Big Sisters of Central Blue Ridge will cut two full-time positions, reducing its staff to two part-time positions as of Wednesday.
* Atlantic Video Inc. has swung the ax for more than half its staff.
The D.C.-based media production company laid off 34 of its 63 staff members earlier this week. Getting pink slips were people in accounting, post production, human resources and other administrative positions. The 29 who remain mainly work on the company’s two main contracts, ESPN’s “Pardon the Interruption” and “Around the Horn.”
* Industrial manufacturer Myers Industries Inc (MYE.N) said it would close its manufacturing facility in Fostoria, Ohio in the second quarter, affecting about 50 jobs.
* Friday, personal products distributor Summer Infant, Inc. (SUMR: News ) said it has implemented certain debt reduction and cost-cutting measures, including reduction of about 10% of its workforce.
* STATEN ISLAND, N.Y. — Citing an impending 34 percent cut in its operating funds, the Staten Island Museum has “consolidated” some jobs, laying off two veteran staffers. A third retired and a fourth will follow suit in June.
* ORLANDO, Fla. — Nearly 800 jobs are being eliminated at Walt Disney World, sources told WKMG-TV.
The layoffs have been ongoing for weeks, and more workers were laid off on Thursday, WKMG reported. The cuts have mostly targeted salaried workers.
* Liberty Aerospace Inc. laid off 14 people this week as the weak economy continues to take its toll.
The Melbourne-based aviation manufacturer laid off 30 workers in January.
* Eighteen laid-off employees were working their last day Friday at Topeka Metal Specialties, bringing to 46 the number of workers let go there this year, said human resources director Chris Cross.
* Verona plastics company Engineering Industries Inc. laid off nearly 40 workers on Wednesday because of what company leaders called a “dramatic and unexpected drop” in customer orders.
* WELLSBURG – A Wellsburg paper plant could lay off up to 30 workers early next month in a move a union official blamed on a declining economy.
* Northern Arizona University will cut 45 jobs and close four satellite campuses as a result of cuts in state funding.
* Edwards Angell Palmer & Dodge LLP this week cut 25 lawyers and 35 non-legal staff, citing unprecedented economic challenges, the law firm confirmed Friday. The firm also said it was deferring the start dates of first-year associates from September to March 2010.
* According to notices filed with the state’s Department of Workforce Development this week, 174 employees at the company’s Lima Road division will be laid off sometime in June, along with 52 workers at its machining division at the same time.
* Key Technology, Inc. announced today it is taking a variety of cost reduction initiatives during fiscal 2009 to maintain profitability for the fiscal year. These cost reduction initiatives include a planned reduction of approximately 7% in its global workforce.
* Bob Silva of Bob Silva Ford in Chowchilla said 22 people were let go Wednesday. Silva says banks continue to tighten lending and consumers are afraid to make big-ticket purchases.
* Insite Vision Inc. (ISV: News ) announced a restructuring to support its focus on identifying and developing ophthalmological products for unmet eye-care needs. The company’s restructuring resulted in the elimination of 15 positions or 52% of its employees.
via RTTNews – Latest Earnings,Upcoming Earnings, Pos Pre Announcements, Pos Pre Announcements , Positive Surprises, Negative Surprises, Hot Stocks, Stock Split Calendar, Stock Buybacks, Dividends, Negative, Positive PreAnnouncements,Surprises …. .
* Rockwell Automation Co., the Milwaukee industrial manufacturer, said it began laying off employees at two Northeast Ohio facilities and at plants worldwide “in response to declining economic conditions,” according to a spokesman
* Evotec says that 50 positions out of 420 will get eliminated from the entire organization in the U.S., U.K., and Germany.
* All told, 15 jobs were lost, including two in Massachusetts, a company spokeswoman said.
* The Minnesota Orchestral Association will make budget cuts that mirror those made in recent days and weeks by other Twin Cities arts institutions, but appear less severe than recent reductions at other major U.S. symphony orchestras.
* Shiloh Industries Inc. has temporarily laid off 83 workers and cut 4 jobs, according to a notice filed with the Ohio Department of Jobs and Family Services.
* TRW spokesman John Wilkerson said about 25 people have been laid off
* IC Corp. has laid off about 170 workers at its school bus manufacturing plant in Conway, a spokesman for parent company, Navistar International Corp., said Thursday.
* For the second time in six months Lionsgate has eliminated 8% of its staff.
Sources confirmed that 45 jobs were lost Friday. In November, the studio shed 41 positions.
* The recession and mortgage meltdown have forced Antioch to lay off 20 more employees to reduce a budget deficit that threatens its fiscal reserves, City Manager Jim Jakel said Friday.
* A spokeswoman for Gibson, Dunn & Crutcher confirmed that the firm has laid off 36 staff members across its nine U.S. offices.
* In addition to salary reductions, Burton laid off less than 5% of its staff in North America, bringing the company’s total headcount in North America to 663. After staff reductions, Burton currently employs 418 employees at its headquarters and factory in Vermont, 17 employees at DNA Distribution in Ohio and 154 employees at its California offices. Globally, Burton employs 962 people.
* A Japanese manufacturer plans to close its Bellefontaine factory in July, eliminating 290 jobs.
Daido Metal Bellefontaine LLC said in a filing this week with the Ohio Department of Job and Family Services that its plant on Greenwood Street in the northwest Ohio city will shut July 1.
* TERRE HAUTE — Aleris Blanking and Rim Products plant at 500 S. Ninth St. is closing permanently, eliminating 50 jobs.
* MORE than 140 staff at Flextronics are facing redundancy this Friday after a review of the firm’s operation in Raheen concludes.
* Pacific Brands announced yesterday it would end manufacturing at two of its plants, resulting in 38 job losses in Christchurch and 51 in Palmerston North.
* Pursuit Dynamics Plc (PUDY.L), a UK-based maker of PDX fluid processing reactors, said on Friday it would stop work at its Brooklands PDX plant on June 30 and cut a number of jobs to cut operating costs.
* Finnish state-owned arms maker Patria said in a statement Thursday it would cut 43 jobs and lay off a further 31 workers until further notice.
via NewsRoom Finland.
* FORTY more jobs are being lost at a Wrexham factory.
Breakfast cereal Kellogg’s are to cut the posts at its factory on Wrexham Industrial Estate.
* In the interest of a more efficient management strategy, the company is carrying out a staff reduction of around 6%.
* Sagicor Financial Group today sent home more than 40 workers as part of what the company says is a comprehensive organisational restructuring.
* Clean energy project investment manager Climate Change Capital said on Thursday it was reducing the headcount at its offices in the U.S. and Britain.
* Friday, industrial plant engineering and equipment supply company KHD Humboldt Wedag International Ltd. (KHD: News ) reported a loss for the full-year 2008, reflecting a fair value loss on the preferred shares of former subsidiaries and a loss from contract terminations.
In addition, the company expects to reduce about 50% of its staff and forecasts a dramatic decrease in 2010 revenues on international financial crisis.
* Societe Generale (SOGN.PA) said it will cut around 10 percent of staff from its private banking arm in Asia excluding Japan due to volatile market conditions.
* The company yesterday said it had made an unspecified number of staff redundant because of lower demand for services and the amalgamation of some divisional activities and functions.
* South Korea’s state-run Korea Gas Corp. (KOGAS) said Thursday that its board of directors has decided to cut 305 jobs all at once, amid stiff opposition from its labor union.
* The Shipping Association of Jamaica (SAJ) on Thursday night announced that it will be terminating a number of jobs in its stevedoring work force come next Tuesday March 31.
* NEW YORK Koenig & Bauer AG President and CEO Albrecht Bolza-Schuenemann resigned today from all offices at the German press manufacturer during a supervisory board meeting, at which the company announced orders had declined 20% year to year and revenue of 1.5 billion euros represented a 10% decline.
Attributing the results to collapsing worldwide demand, KBA said it will eliminate approximately 800 jobs, or 10% of its work force.
* Restructuring continues apace at Rossignol group. Hit hard by a drop in sales (or a serious miscalculation in demand according to the trade unions) the group plans to fire 450 staff, 275 of them in France.
* CornerStone Associates LLC, the Alabama general agency for MassMutual, plans to hire as many as 50 new employees in Birmingham.
* With more than 5,000 crime fighters and villains in its library, Marvel Entertainment is looking for some help in adapting those characters into films.
Comicbook giant is readying to assemble a group of scribes who will pen scripts for various properties Marvel wants to develop.
* DOWNTOWN TOLEDO – Toledo city administrators told city council members Thursday afternoon they’re in the process of hiring five new auditors to collect back taxes.
* TruGreen, the nation’s largest lawn care services provider, has announced plans to increase its workforce and hire about 2,300 new full-time employees as the company enters its peak season. Recruiting efforts are in high swing as TruGreen hosts career fairs and group-recruiting orientation sessions in branches nationwide.
* Despite tough times in the freight hauling business, a unit of the local logistics firm Trans-Trade Inc. is expanding in a big way.
* A Danish company called Vestas broke ground Wednesday in Brighton, Colo., on the first of three plants it plans to build in the state, a project that will cost $350 million and bring 1,500 new jobs with it.
Vestas is the manufacturer of the large, white wind turbines that have been showing up with increasing frequency on both land and sea.
Mike: It was a busy day for layoff announcements, especially for a Friday.
The weekned is upon us and the NCAAs continue. Below are a few videos discussing tonight’s games. Go Syracuse! Till Monday…………..
Syracuse / Oklahoma