[deMolay]

Serious problems for many. http://www.nytimes.com/2009/08/01/us/01 ... odayspaper

[lowem]

Seagate Technology to lay off 2,000 employees in Singapore

Seagate Technology announced on Tuesday it would relocate its hard disk drive manufacturing operations from Ang Mo Kio to other existing Seagate facilities by end-2010, laying off some 2,000 employees in the process.

So much for the green shoots.

[jdmartin]

Great find & post. I've been following this county's problems for a while - shocking that it's come to this. To be fair, though, most of their problems came from the sewer project. They used the same CDO's like the banks were using, aside from the corruption itself.

[RonMN]

http://www.businessinsider.com/national-guard-may-be-summoned-to-protect-alabama-county-from-fatal-interest-rate-swaps-2009-8

Quote:
Today the county said it may need the National Guard to hedge the the "anarchy risk" it now faces as a result of the fiscal disaster its venture into "sophisticated" derivatives turned out to be.

[mattduke]

It will be interesting to see how society gets on without the taser thugs, meter maids, DMV droids, and marijuana goons, let alone the 6-figure government retirees.

[Dreamtwister]

It will be interesting to see how society gets on without the taser thugs, meter maids, DMV droids, and marijuana goons, let alone the 6-figure government retirees.

From what I've read, I was under the impression that the police are about the only ones not getting laid off.

Not that it's really going to help much, of course...

[lowem]

Goldman, Foreign Banks Cut 1,100 Jobs in Japan Last Fiscal Year

Goldman Sachs Group Inc. and seven other overseas banks eliminated 12 percent of their workforce in Japan last fiscal year as a stock market rout crimped trading profits and investment banking fees.

[Jester]

Canada... the experts forecast here would be around 15,000 jobs lost. Not surprisingly, the experts were wrong... it was around triple that, with about 45,000 jobs lost.

Probably doesn't sound so bad to some americans, but an important thing to remember is that Canada's population is about 1/10th of the USA. To put it into perspective, that would have been close to a half million jobs lost in a month in the states... Right when we're told the economy is recovering...

[lowem]

Lockheed Martin aerospace division to cut 800 jobs

Lockheed Martin Space Systems Company, a division of US global security firm Lockheed Martin Corporation, said on Monday it would cut about 800 jobs by year-end to improve its competitiveness. The company said the payroll deductions represent about 4.5 percent of the overall workforce and are "aimed at improving its competitive posture."

Not so many rockets going up nowadays in a recessionary period I'd suppose?

[lowem]

Japan's Fujitsu to axe 1,200 jobs in Britain

Japanese electronics maker Fujitsu Ltd. on Wednesday said it planned to cut up to 1,200 jobs in Britain by the end of 2009 because of worse-than-expected sales ... Fujitsu, which recently posted a quarterly loss, plans to shed almost a tenth of its workforce in Britain as it employs 12,500 people across the country.

[hardtootell-2]

and more good news from a chief cheerleader:

http://www.edmontonsun.com/news/alberta ... 03106.html

whose job it is to talk up the sunny side of things!

[lowem]

Japan's Mitsukoshi to axe 1,000 jobs

Mitsukoshi, the iconic Japanese department store operator, plans to slash its workforce by about one-sixth to cope with dwindling demand for luxury goods, a newspaper reported Thursday. The firm, part of Isetan Mitsukoshi Holdings Ltd., will axe about 1,000 jobs by March 2010 through a voluntary retirement program - the biggest round of cutbacks yet for the troubled industry ...

Dunno about Mitsukoshi, but quite familiar with Isetan. Well well, "dwindling demand for luxury goods" eh, what, upper-class/upper-middle-class no longer supporting them like they used to?

[eastbay]

http://www.google.com/hostednews/ap/art ... QD9ABBBSG0


Nummi to end production. 4,600 assembly workers and an additional 40,000 supply workers to lose their jobs in California. These are nearly all quite high paying jobs, and in a few months they will be gone. This is a major hit for struggling California.


WASHINGTON — Toyota Motor Corp. plans to end production in March 2010 at a California joint venture where it has built vehicles with General Motors, the company said Thursday.
Toyota's board voted early Thursday to end the company's production contract at the Fremont, Calif.-based New United Motor Manufacturing Inc., spokeswoman Cindy Knight confirmed.

[highlander]

The national news said "new jobless claims down" I guess that is the "truth" they went from 580,000 last week to 570,000 this week.

[Roy]

Always look on the bright side of life

[lowem]

Toyota to end California plant production (4,500 jobs to be affected)

Toyota Motor Corp will end production at a California plant it has shared with General Motors for 25 years, prompting regret and criticism from labor and politicians facing more job losses in an industry and a state pummeled by recession. The move to cease operations at the plant in Fremont by March 31 puts at risk more than 4,500 jobs and highlights significant overcapacity global carmakers are facing as they try to shake a recession-fueled sales downturn.

And according to Bloomberg, this is the first time that Toyota is shutting an assembly plant in its 72-year history.

Like some around me have been saying, if even Toyota cannot make it, who can?

[eastbay]

Toyota will be fine, well, for at least as long as any other car maker. They're still Top Dog.


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!

http://www.automotiveworld.com/news/man ... mi-closure

[lowem]

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!

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]

Whirlpool to close US plant, cut 1,100 jobs

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]

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

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.