Screwed: 5,000 at Lloyds

A daily review of the employment fallout around the country and the world.

Today’s Total: 5,735

British lender Lloyds Banking Group will cut 5,000 jobs by the end of next year in its insurance, retail and administration departments… Adobe is laying off 680 employees, 9 percent of its workforce… Catevo Group, a PR firm in Raleigh, N.C., is closing its office Nov.13 resulting in 25 employee layoffs… The city of Plainfield, N.J. is cutting 25 unfilled municipal positions and expects more layoffs in the future… Rumored layoffs expected at Zac Posen and Gucci… Richard Petty Motor Sports has begun laying off employees.

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The Recession Will End… When Small Businesses Steady Themselves

Says who: Mark Zandi of Moody’s Economy.com.

“Small business tends to lead the way out, and that’s just not happening here.” (via USA Today)

Why it might be false: It might be false because we might be due for a slight redefinition of “small business.” In recessions and other periods of some job loss, more businesses tend to be created. Entrepreneurs are energized, and others are just looking for a way to generate some income. In New York, laid off Wall Street executives have been launching companies in part through a Bloomberg-backed incubator funded with $45 million. In the state of Colorado, the number of new business registrations has increased over last year…

16 Questions for Aspiring Entrepreneurs

We’re entrepreneurs. We like entrepreneurs. We are especially fond of what we call New Entrepreneurs — the countless people who, having been downsized in the downturn, were inspired to start businesses for the very first time.

Last week we interviewed Lori Chalmers, who started her handbag company, ChaCha, after being laid off from her graphic design job. Her one piece of advice for those looking to follow in her footsteps: Plan, if you can.

Enter David Ronick’s 16 questions…

Recession Briefing 11.10: Home Invaders Curbed

What you need to know today to survive and thrive in the recession.

One of the few bright spots of the recession: The number of home burglaries is falling in some cities and towns. “With a lot more unemployed people, a lot more people are staying home, and they see more in their neighborhood,” said St. Louis County Sgt. Thomas Lasater. (Associated Press)

One bright spot of Friday’s gloomy jobs report was the surge in temporary hires. Companies are hiring more temps with plans to convert them into full-time workers if economic conditions improve. (Wall Street Journal)

The Dow gained more than 53 percent from its March trough while the S&P is up over 61 percent from its springtime low. That’s just not normal; it’s too much, too soon. (The Big Money)…

Screwed: 2,500 at Sprint

A daily review of the employment fallout around the country and the world.

Today’s Total: 7,281

The good news: Production is up at GM Canada which recalled 150 previously laid-off workers… A Toyota plant in Georgetown, Kent. also brought back 275 workers that had been let go last year.

Sprint announced its plans to trim its workforce by 2,500 by the end of the year… Electronic Arts will eliminate 1,500 jobs… Microsoft is scheduled to make 800 additional cuts to “adjust to economic conditions”… Pfizer sold its St. Louis operations to the Monsanto Company and expects 600 layoffs… PG&E will reduce its workforce by 500… The University of Nebraska system will be forced into 300 layoffs in response to budget cuts proposed by Governor Dave Heineman… Herbst Gaming handed out 200 pink slips after declaring bankruptcy… UniCare Life & Health Insurance will cut 187 jobs… A research subsidiary of Johnson & Johnson laid off 174 staffers in Penn. as part of a global restructuring program… Grand Rapids, Mich. is set to release a budget overhaul that calls for the elimination of up to 150 city workers… AOL will lay off 100 staff members… The Star Tribune of Minneapolis-St. Paul, Minn. will lose 100 workers after declaring bankruptcy…

Quiz: Which Recession Spender Are You?

Did the recession bring out your inner coupon-clipper? Do you hate not be able to shop for fun? Or are you one of the happy few who hasn’t taken a hit to the bank account and continues to blithely spend? (Hm. Those people are probably not reading this blog.)

According to market research firm Decitica, there are four different kinds of consumer personalities coming out of the downturn. (Incidentally, company principal Val Srinivas says he was inspired by Recessionwire. Schweet.) Which type are you? Answer this multiple-choice question to find out:

In terms of spending, what has been your reaction to the downturn? …

The New Rules for the Recession Holidays

Tight times have brought out our ingenuity in spending and this second holiday season of the downturn is no different. We rounded up a few of our favorite new rules for surviving the holidays:

* Regift. It’s both budget-friendly and good for the environment: Recycle those unwanted yet still brand-new socks, wine bags, candy dishes, etc. “Regifting” – the act of giving someone a gift that you had received – is growing fashionable. A poll by Consumer Reports found that 36% of U.S. adults said they would recycle a gift this year, compared with 31% last year and 24% in 2007.

* Group-give. First, pare your list to its essentials, then find a buddy or two to go in on gifts for those on your list. This tip comes from Jack Chary, who also recommends starting a Christmas savings account in the future. Good thinking…

Recession Briefing 11.9: Reuse, Recycle, Regift?

What you need to know today to survive and thrive in the recession.

More Americans are planning on regifting, or passing on a gift they got from someone else, according to a poll. A total of 36% of U.S. adults said they would recycle a gift this year, compared with 31% last year and 24% in 2007. (Los Angeles Times)

Make-up sales have risen despite the recession as women aim to look their best without breaking the bank on clothes and shoes, new figures show. (Telegraph)

A $25 billion nationwide push to improve the energy efficiency of buildings will likely not be felt until well into next year, potentially undermining the job-creating aim of the stimulus. (Washington Post)

Screwed: 4,900 at British Airways

A daily review of the employment fallout around the country and the world.

Today’s total: 5,310

First, the (relatively) good news: Few employers announcing layoffs today.

The rest: At British Airways, about 4,900 employees will lose their jobs. …Creekside Mushrooms in Penn. plans to lay off 260 workers. … In Grand Rapids, Mich., 150 people may be let go. …

Looking for Holiday Savings? Try Pop-Ups

Throughout 2009, malls across the country have been battered by the downturn, struggling to stay afloat amidst a record number of store closures and a high rate of retail vacancies. Now that the holiday season is nearing, though, those same vacancies are turning out to be a benefit for some retail companies. Loosened lease terms and lowered rental rates on retail spaces have created a perfect storm for a myriad of companies planning to open temporary “pop up” stores this holiday season…