News

many small screws 150A daily review of the employment fallout around the country and the world.

Today’s total: 2,034

Up to 1,100 employees are expected to be cut from Nordic paper company Stora Enso. … Samsung plans 550 layoffs. … New Zealand Transfield Services is considering 154 layoffs. … In Alabama, Teledyne Brown has given notice to 130 workers. … Sunrise Hospital in Las Vegas will lay off 100 employees. …

question-mark-chart-150Says who: 27 million small business owners

“It’s gotten to the point where it’s such a huge expense that I don’t know if we can continue doing 60 percent,” said Dan Verbeten, owner of Gardan Inc., a contract manufacturing company in Hortonville. “It’s the fourth-largest expense item.” (via BizJournals.com)

Why it might be false: Providing health benefits has been a growing expense, even before the recession took hold. According to a study by PricewaterhouseCoopers, health care costs for employers rose 10 percent in 2008 alone. Such costs are behind a disheartening trend: Just 59 percent of small business employers provided health benefits in 2007, down from 68 percent in 2000. But whatever health care’s crimes, it’s on its own track, separate from the forces that brought down the economy…

chart trending upPortfolio.com, where two of us worked pre-Recessionwire, asked us to weigh in on all the assertions on the recession’s end. You can see our story there today:

The Recession is Over. But the Change is Not.

And here’s an excerpt:

If you really want to know if the downturn is done, try this: Turn off CNBC and unplug your WiFi. Look around and take stock of what you have. Chances are, you haven’t made many purchases in a while, and you probably have no plans to. The fridge is stocked because you don’t eat out as much as you once did. Instead of your regular summer vacations

many small screws 150A daily review of the employment fallout around the country and the world.

Today’s Partial Total: 2,293

Lockheed Martin Space Systems Co. has announced 800 layoffs Ryanair Plc is cutting routes out of England’s Manchester Airport, resulting in 600 layoffsSovereign Bancorp has laid off 517 Pennsylvania employeesNew Flyer Industries Inc. is laying off 320 workers from Winnipeg and Minnesota… President of Fresno State warns of another 50 staff cutsSalon has laid off 6 editorial staff as it tries to become a “true Web publication”…

screw 150A daily roundup of the employment fallout around the country and the world.

Today’s total: 4,221

Blue Cross Blue Shield has been conducting layoffs: 650 in Chicago; 200 in Tulsa; 183 across Texas. … Embattled AIG has closed 145 branches and eliminated 900 jobs. … Contact lens maker CooperVision will close a plant and let 570 workers go. … In Germany, Q-Cells, a solar cell maker facing massive losses, will cut 500 workers. … BAE Systems in Minnesota is gearing up for layoffs that may include 400 workers. … Virgin Media will let go 250 customer service employees at a Great Britain site. … In Finland, Finnair laid off 200 employees, after handing out temporary layoffs to 6,000 others. … At MassMutual, 118 of 6,100 employees were dismissed. … Milacron in Cincinatti plans to cut 130 positions. … Under new ownership, Midwest Airlines will pare back 100 jobs. … Gannett’s The Journal News cut 50 jobs

couple-learning-150Hey hey. Good news. Over at the New York Times, super sourpuss Paul Krugman thinks the economy may have cratered. Mr. Brightside warns that before we all buy jet skis and charter flights to Monaco to realize things are still grim. Saving more and spending less is a pretty good policy. But dating, mating and the whole relating shebang are tough to do without spending dough. That’s when you gotta get creative…

screw 150A daily roundup of the employment fallout around the country and the world.

Today’s Partial Total: 2,547

Kaiser Permanente notifies 1,850 employees in Southern and Northern California of impending layoffs… The parent company of Blue Cross Blue Shield in Illinois is laying off 650 employeesFindlay, Ohio may be laying off 47 city workers if their new budget plan is implemented… GRIN, a Stotockholm-based developer, is experiencing another round of layoffs

question-mark-chart-150Says who: Staycationers – those who have had to cut back on their normal vacation plans to far-flung destinations and chosen instead to spend their time off in their own backyards.

Why it might be false: Just because staycations are said to be the summer’s hot thing doesn’t mean that everyone’s doing them. In fact, cruises, campgrounds and destination spas are experiencing surges in traffic. Priceline.com’s recent 35% second-quarter profit increase contradicts the idea that staycations are dominating “time off time” and underlines that there are some great deals on the market. Even if staycationers aren’t spending a lot of dough on transportation or accommodations, they are still spending money and bolstering the local economies. In short, they aren’t as damaging to the economy as other spending cutbacks might be (like, say, on buying homes)…

flag lebanon heart-200A couple of months ago, while working on a story about what the recession is called in other countries, I reached out to a Lebanese friend who working in Washington, D.C. Her response: There wasn’t a recession in Lebanon. Hmm, I thought. Something to look into.

Dr. Doom is ahead of me, as always. (Not to mentioned overhyped, but stay with me.) Nouriel Roubini has done a survey of countries that have been gliding through the downturn for Forbes.com. “All economies have been affected by the crisis, but a combination of policy responses and strong fundamentals has given some countries, especially some emerging market economies, a relative edge,” he says.

Strong fundamentals aren’t the whole story. In Lebanon’s case, for example, banking regulations kept a lid on subprime investments that the U.S. banks all went wild for. But there was also an upside to “domestic political uncertainty”—it helped keep the country’s economy relatively isolated…

three medium screws 150A daily review of the employment fallout around the country and the world.

Today’s Partial Total: 862

Some good news: L.B. White, in Onalaska, is rehiring workers that were temporarily laid off in March.

American Centrifuge Project facilities in Oak Ridge have notified 450 workers of impending layoffs… Up to 255 state workers face unemployment in Pennsylvania… Whiskey producer Whyte & Mackay is laying off up to 100 Scotland workers