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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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…
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. …
Says who: U.S. Commerce Secretary Gary Locke, as the department reported a 3.5 percent growth in the GDP in the third quarter following six quarters of decline.
“Today’s numbers indicate that the tough decisions this administration made to rescue the economy from the abyss were correct. We’re headed in the right direction, and even though there are still too many Americans out of work and still much work to be done, without the action taken in the early days of this administration, the pain families are feeling today would be much worse.” (Commerce Department press release)…
A daily review of the employment fallout around the country and the world.
Today’s Total: 737
Fortis Bank Polska may lay off 361 employees… 200 Milwaukee county workers may receive layoff notices at any time… Boeing’s Missile Defense Systems is laying off 69 employees in Huntsville… Pratt & Whitney laid off 45 workers yesterday at three locations around the country… Princeton University is laying off 43 employees and cutting hours on 18 other positions as part of a new budget cutting plan… 10 positions were cut at the Frederick County Health Department… The Wall Street Journal is closing its Boston bureau, resulting in up to 9 layoffs… Target Corp. has cut 8 percent of its downtown Minneapolis corporate marketing team… Thousands may face layoffs in the Hawaii Department of Education if a federal judge blocks teacher furloughs…23andMe has undergone restructuring and an undeclared number of layoffs…
A daily review of the employment fallout around the country and the world.
Today’s Total: 183
The Good News: After a 20 percent workforce cut Deyaar Development will not be laying off any more employees.
Approximately 100 hourly workers at the Ford Stamping Plant in Woodlawn are facing a week-long layoff… Butler Sheriff’s Office will lay off 40 deputies if no other budget solutions are found… Tulsa is laying off 21 police officers and issuing seven-day layoff notices to 16 non-public safety officials… The town of Carbondale is laying off 5 workers while giving others furlough and instituting wage and hiring freezes… Features Director James Reginato has left W magazine and more layoffs are expected… Arizona school system is facing a possible massive teacher layoff next year due to budget cuts… Time Inc. is carrying out layoffs in its Time, Money, Fortune, and Sports Illustrated departments before the Thanksgiving break…
How so: With the Dow Jones Industrial Average nearing the 10,000 mark, it would seem good times are coming back. The last time it was around 10,000 was last fall, and it was just one short year earlier when it hit its high around 14,000. Remember that? Back when we were all swimming in cash, vacationing in St. Bart’s, shopping just because we felt like it… (You were doing that, right?)
Good signs: The macros are up, from the DJIA (in March we were talking Dow 5,000!) to strong earnings from Google and Apple to a strong showing from the almighty GDP, and even housing data is on the move (well, sales at least, although foreclosures continue their nightmarish rise). Is this change we can believe in?…
A daily review of the employment fallout around the country and the world.
Today’s Total: 5,940
Mahindra Satyam may lay off 5,000 benchers after assuring that there would be no more layoffs…CNH announces plans to lay off 300 staff members… Georgia-Pacific will lay off 300 workers… International Paper in Oregon lays off 230 workers… Quest plans to lay off 60 staffers in its Wallingford, Conn., testing facility… Workforce Solutions will lay off 50 employees…
A daily review of the employment fallout around the country and the world. 
