THE Let the worldwide layoffs begin Thread (merged)

lowem · **Posted:** Fri Aug 28, 2009 4:07 pm

eastbay wrote:

But it looks like it'll be closer to 50,000 jobs lost in California. Suppliers, truckers, longshoremen, inspectors, the guy running the local cafe', the tire store repairing the truckers tires, and the customs guys who will get transfered from Oakland. All lost or moved. This is immense for California! :shock:

Ah, yes, the ripple effect. Just saw your msg about it

Looks like it's roughly in the 1:10 ratio these days, isn't it.

lowem · **Posted:** Fri Aug 28, 2009 4:10 pm

Whirlpool to close US plant, cut 1,100 jobs

Quote:

US home appliance maker Whirlpool Corp. said Friday it would close a plant in Evansville, Indiana, eliminating some 1,100 jobs by mid-2010.

Can't say I've bought any of their appliances, usually locals here go for the Japanese or Korean brands, but I have heard that it's pretty big in America (?)

Jester · **Joined:** Thu Mar 16, 2006 1:00 am **Posts:** 203

Canada, with Suncor and Petro Canada merged, they are cutting 1000 jobs. They employed around 13,000 prior to this, so thats a cut of around 7.6% of their work force.

http://www.calgaryherald.com/business/S ... story.html

Quote:

CALGARY- Canada's biggest oil company, Suncor Energy will cut about 1,000 positions from its newly merged entity, one of the largest workforce reductions in the oilpatch since the 1990s.

lowem · **Posted:** Tue Sep 08, 2009 9:13 am

Jester wrote:

Canada, with Suncor and Petro Canada merged, they are cutting 1000 jobs. They employed around 13,000 prior to this, so thats a cut of around 7.6% of their work force.

Just so that when oil goes back above $100, they'll be scrambling again.
How about that for a boom-bust cycle.

lowem · **Posted:** Thu Sep 17, 2009 7:18 am

Japan Airlines to cut 6,800 jobs, pursue tie-up

Quote:

Japan Airlines (JAL) said on Tuesday it would slash 6,800 jobs and pursue a tie-up with a foreign carrier in a bid to return to profit in the face of severe turbulence unleashed by the global recession ... "The personnel reduction cannot wait," president Haruka Nishimatsu told reporters after briefing a government-appointed panel on the planned revamp. "The world is changing, and we have to adjust our size. It's easy to expand, but it's extremely difficult to downsize," he said.

Perhaps it is more difficult for the Japanese compared to the Americans ...

lowem · **Posted:** Thu Sep 17, 2009 7:21 am

BAE Systems to cut 1,100 jobs in Britain

Quote:

British defence equipment firm BAE Systems will axe 1,100 jobs in Britain and close a key facility in northwestern England, trade unions said on Tuesday ... one site in Woodford, Cheshire, will be shut down.

Watch out below when the going gets tougher even for traditionally defensive sectors such as defence, education and healthcare.

I am getting more convinced that there are simply no fundamentals in this so-called recovery.

lowem · **Posted:** Thu Sep 17, 2009 7:31 am

Magna says it plans to cut 10,500 jobs at Opel

Quote:

The co-head of Canadian auto parts maker Magna said Monday that it planned to cut 10,500 posts at loss-making German car maker Opel once it completes its takeover of the General Motors' unit ... GM said last week that it would sell a 55-percent stake in Opel to a consortium composed of Magna and the state-owned Russian lender Sberbank.

hardtootell-2 · **Posted:** Thu Sep 17, 2009 9:34 am

I have been looking at Engineering jobs for my city of 1 million. During good times I noticed 30-50 new ads per day. Over the last month or so, I have seen between 0 and 4 posts for new jobs per day. I was using the exact same search criteria on the exact same website. :cry:

IMHO we are still Depression bound...

Cog · **Posted:** Thu Sep 17, 2009 7:37 pm

In my own field of land surveying, our monthly newsletter generally had 2 to 3 pages of help wanted ads prior to the recession hitting. The last one I received had 3 ads total :shock:

and 6 businesses for sale.

Since nothing much gets built of any consequence without a surveyor getting involved, it tells me the recession is hitting all aspects of the construction trade.

The only thing our company is doing right now is government work and that is slowing down as well.

hardtootell-2 · **Posted:** Fri Sep 25, 2009 3:15 pm

Anecdotally- as I heard it in confidence. An engineering firm in Western Canada laid off 75% of their engineering staff since January. Engineering used to comprise 60% of their revenues. This represents >1500 engineering jobs!

Not quite what you hear in the media!

Are we at the bottom yet? :cry:

patience · **Joined:** Fri Jan 04, 2008 1:00 am **Posts:** 2869

lowem,

RE: Whirlpool plant closing.

I live about 80 miles from there, and have seen the plant. It's about half a mile long. (Takes a LOT of room to build zillions of appliances.) Those 1,100 jobs are the primo jobs in the city. Evansville will not be the same after this. Yes, they have an engineering college there, and it is a good agricultural area, but the real money came from Whirlpool. Evansville is also on the Ohio River, and I'm sure that shipping is (was) significant there, also, but with the best jobs gone, the city will decline.

At 80 miles away, even I got some work from there, indirectly, from a wireforming company that makes their oven and refrigerator shelves. That company is in Elizabethtown, KY, and Whirlpool is their major customer, so they will suck air now. This plant closing will affect at least a 75 mile radius. Indiana is reverting to its' historical beginning as a farming state, and the farmers ain't doing too good, either. I know that for a fact, since they provide 80% of my repair shop business. My receipts for the year so far are down 60% +.

hardtootell-2 · **Posted:** Fri Sep 25, 2009 6:20 pm

Does anyone think that any of the unemployed, their family or friends or associates or former coworkers are out spending on much more than the necessities? You would have to really be asleep at the switch or in deep denial not to realize that you could be next. Its chilling to think how deep this probably goes already.
And if you trust teh government numbers/spin I have some credit default swaps I'd like to sell you.

IMHO it is GD2.

JJ · **Joined:** Tue Aug 07, 2007 12:00 am **Posts:** 1168

hardtootell-2 wrote:

Does anyone think that any of the unemployed, their family or friends or associates or former coworkers are out spending on much more than the necessities? You would have to really be asleep at the switch or in deep denial not to realize that you could be next. Its chilling to think how deep this probably goes already.
And if you trust teh government numbers/spin I have some credit default swaps I'd like to sell you.

IMHO it is GD2.

you OBVIOUSLY haven't been paying attention to oily and anti..., all's well now!

the48thronin · **Posted:** Fri Sep 25, 2009 7:21 pm

JJ wrote:

you OBVIOUSLY haven't been paying attention to oily and anti..., all's well now!

lowem · **Posted:** Mon Sep 28, 2009 3:52 pm

(Japan’s second-largest consumer lender) Aiful to Trim 2,000 Jobs, Forecasts $3.4 Billion Loss

Quote:

Aiful Corp., Japan’s second- largest consumer lender by assets, announced plans to cut as much as 44 percent of its workforce and forecast a full-year loss, sending the shares to a six-month low.

THE Let the worldwide layoffs begin Thread (merged)

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