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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?
hardtotell-2 wrote: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.
lowem wrote:Dell to close N.C. plant, eliminate 905 jobsWhat a difference 4 years makes.Four years after opening a computer manufacturing plant in Forsyth County, Dell Inc. announced plans Wednesday to shutter the operation, laying off all 905 workers ... when Dell selected North Carolina for its new plant, the company promised to invest at least $100 million in its plant and create at least 1,500 jobs by 2020. Its 750,000-square-foot plant opened in late 2005 with great fanfare - company founder Michael Dell joined state and local officials at the dedication ...
CNN said the city will sue to recover this money also...good luck with that...:Winston-Salem Mayor Allen Joines issued a statement Wednesday night saying Dell would repay all the money the city provided to the company in upfront costs and annual incentive payments.
Joines said he was assured by Kip Thompson, vice president for facilities, that Dell will honor its commitment to repay the $15.56 million the city has provided since Dell agreed to build the plant.
But millions of dollars won't be returned. Public agencies paid to prepare the Dell site for construction, widen roads leading to the plant, and equip community colleges to train company workers before the plant opened.
And this: (Mar 09)DellDell buys Perot Systems for $3.9 billion22 Sep 2009:
NEW YORK, 21 Sep 2009 (AFP) - US computer giant Dell said Monday it is buying computer services firm Perot Systems for $3.9 billion in a move seen as a bid to counter rivals IBM and Hewlett-Packard and expand beyond its core PC business.
Dell, the second-largest US computer manufacturer after HP, said it plans to acquire all ordinary shares of the company founded by Texas billionaire Ross Perot for $30 a share, a 65-percent premium over Friday's closing price.
"Dell and Perot Systems have entered a definitive agreement for Dell to acquire Perot Systems in a transaction valued at approximately $3.9 billion," Dell said in a statement.
Leading to: Sellout to Teleperformance
Battered by falling sales and the global financial meltdown, US-based computer maker Dell has decided to sell at an undisclosed price its call center site at the SM Mall of Asia in Pasay City to call center operator Teleperformance.
It was a painful end for the Pasay facility since it was Michael Dell, the company’s founder and CEO, himself who inaugurated the site just three years ago in his first visit to the country.
Dell’s other call center facility in Quezon City "is not part of the sale," a statement from the company said. The Pasay site provides consumer tech support for the US and Australia-New Zealand, while the Quezon City facility caters to commercial business clients.
The announcement, made on March 20, said "jobs will remain in the Philippines," meaning the estimated 1,000 employees at the site will be absorbed by Teleperformance. The affected workers, however, have the option to accept or reject the job offers expected to be made by Teleperformance.
Although it has been handling Dell accounts in its other locations, the deal will allow France-headquartered Teleperformance to provide call center services to Dell for the first time from its Philippine site. Teleperformance currently operates facilities in 46 countries and reportedly the 150th-largest private sector employer in the world with more than 88,000 full-time equivalent employees.
Expanding Global Recruiting Perot Systems leaders and local luminaries inaugurate facility in Manila, Philippines:
Two years ago, Steve Mooney, vice-president of Tenet Healthcare Corporation’s Patient Financial Services operations, asked Anurag Jain, president of Insurance and Business Process Solutions (IBPS) and his team to explore setting up of a delivery center in Manila, Philippines to grow Tenet’s Patient Financial Services group’s revenue cycle outsourcing. With a successful 14-year relationship with Tenet, Anurag knew this was the next step in helping Tenet grow their business and developed a project team to lead the way.]/quote]
On March 21, 2007, the “idea” became a reality, when several local business and government officials joined leaders from Perot Systems to officially inaugurate the Insurance and Business Process Solutions (IBPS) facility. Peter Altabef, president and CEO, and Tenet’s Steve Mooney welcomed attendees and cut the ribbon on the Perot Systems Technology Center. This event was a fruition of nearly two years of planning and collaboration which involved several associates from across multiple functions and process groups in India and Manila to successfully establish the Perot Systems Manila center.
Russia's largest carmaker Avtovaz is on the verge of bankruptcy and needs to cut almost 50,000 jobs if it is to have any hope of survival, a newspaper Thursday quoted a ministry memo as saying ... the Lada car maker has already announced plans to slash 27,600 jobs from its workforce of 102,000 in a bid to cope with the slumping demand caused by the economic crisis. But the memo said that current output levels are such that the workforce should stand at only 55,000, meaning job cuts of almost 50,000 should be required.
US heavy equipment maker Caterpillar said on Monday it was cutting about 2,500 jobs and had started to bring more than 500 laid-off employees back to work, in a sign of improving economic conditions.
Japanese tyremaker Bridgestone said on Friday it would shed nearly 900 jobs in Australia and New Zealand as it closes manufacturing plants amid a worldwide slump in demand for cars.
Sun Microsystems said on Tuesday it is cutting 3,000 jobs over the next 12 months because of its delayed takeover by US business software giant Oracle. In a filing with the US Securities and Exchange Commission (SEC), Sun said the layoffs were part of a restructuring plan brought about by the hold on its 7.4-billion-dollar purchase by Oracle.
CNNChrysler offers buyout to 23,000 workers Latest move to pare workforce comes just before automaker reveals 5-year recovery plan. Last Updated: November 1, 2009:
NEW YORK (CNNMoney.com) -- Days before unveiling its latest recovery plan, Chrysler Group has extended a buyout program to 23,000 U.S. workers in an effort to further trim its workforce.
In a statement, Chrysler said workers have until Nov. 13 to accept the proposal, and that the company would determine who qualifies for it depending on operational needs. The company said termination dates would be at its discretion.
The automaker said special programs were being offered at facilities that are being forced to close as a result of the bankruptcy process that occurred earlier this year. The deadline for accepting those programs depends on the facility, Chrysler said.
Chrysler emerged from Chapter 11 bankruptcy protection in June, saying it would close some of its U.S. plants as part of the reorganization. Its ownership is a group that includes the Italian automaker Fiat, the U.S. government, the United Auto Workers union's retiree trust and the Canadian and Ontario governments. *...
Oil prices may be edging up again and the recession lifting, but the remnants of the global economic meltdown continued to surface Thursday, in sharply lower earnings reports from Exxon Mobil Corp. and Royal Dutch Shell and word of 5,000 layoffs at Shell by year-end.
Sprint Nextel said it will cut 2,000 to 2,500 positions in the fourth quarter in an effort to save $350 million. The cuts will be completed by December 31 ... the company said the cuts won't impact customer service, something the Sprint has been trying to improve. Nevertheless, Sprint said call volume has decreased so it has discontinued 27 call centers.
Britain's state-controlled Lloyds Banking Group plans to announce it is cutting 5,000 more jobs, British media reported on Tuesday ... LBG, created in January when Lloyds TSB bought rival lender HBOS in a state-brokered deal, has already axed about 8,000 jobs since the start of 2009.
US computer software giant Microsoft said on Wednesday it is cutting 800 more jobs in addition to 5,000 layoffs announced previously ... the total layoffs since January are the largest ever at the Redmond, Washington-based company, which had 91,005 employees at the end of September.
Royal Bank of Scotland, rescued by the British government in the wake of the global financial crisis, said on Monday that it planned to axe about 3,700 jobs across its retail operations in Britain.
HSBC is to cut more than 1,700 jobs across its retail banking division in Britain, a spokesman for the global group said on Tuesday. The announcement came as the British government unveiled a major shake-up of the country's banking sector and one day after state-controlled Royal Bank of Scotland (RBS) said it would eliminate about 3,700 jobs across its British retail operations.
Johnson & Johnson, a leading US health care products company, said on Tuesday it will slash between six and seven percent of its global workforce, more than 7,000 jobs, to cut costs ... J&J, which makes drugs, consumer products and medical devices, has about 117,000 employees worldwide, which would bring the number of jobs to be eliminated to a range of 7,000 and 8,200.
Electronic Arts plans to cut its work force by 17 percent as it tries to align its business with a transforming video game industry ... the company announced the layoffs of 1,500 people just hours after it said it is paying at least $275 million to buy Playfish Inc., a maker of social online games popular on Facebook, MySpace and the iPhone ... the cuts are in addition to the 1,100 jobs the company already slashed this year as part of a restructuring plan to shift focus to hit games.
Lloyds Banking Group has announced 5,000 job cuts as the government-backed bank moves to integrate its wide-ranging businesses ... the job cuts come as a result of the integration of HBOS, which Lloyds bought at the height of the financial crisis ... the job cuts come just days after Royal Bank of Scotland, which was also bailed out by the government, and HSBC unveiled thousands of job losses.
Adobe Systems, known for its Photoshop editing program and Acrobat document software, announced on Tuesday it was cutting some 680 jobs worldwide, about nine percent of its workforce ... Adobe, which employed 7,564 people worldwide at the end of August, also produces the Flash and Shockwave software used in many games and Internet applications.
Internet company AOL LLC, which will soon be spun off from parent Time Warner Inc., laid off about 100 full-time employees Tuesday ... the company will have about 6,900 employees after the job cuts.
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