Thursday, January 22, 2009

Have you guys SEEN this list???

OK - the list got so long that I finally had to just add it to the comments for this post. Very sad, but important info -- check the comments.

THE TIP: Plan as if you will be laid off tomorrow and be out of work for six months... thank you to the various readers at SDlookup that posted this info


jen said...

very scary especially when all of those numbers translate into more and mor true stories >>> friend just got laid off last week, he is having his first baby in 2 mos and my little sister and her entire division were cut from a company that has never had layoffs in their entire history (national car rental company)

thanks for keeping our eyes open, update if you get more info especially local

Sean said...

And then this morning more bad news on CNN: (we are getting into engineering positions now, technology -- sectors that are key in San Diego. not good)

Thousands more jobs cuts were announced Monday. Pharmaceutical giant Pfizer Inc., which is buying rival drugmaker Wyeth in a $68 billion deal, and Sprint Nextel Corp., the country's third-largest wireless provider, said they each will slash 8,000 jobs. Home Depot Inc., the biggest home improvement retailer in the U.S., will get rid of 7,000 jobs, and General Motors Corp. said it will cut 2,000 jobs at plants in Michigan and Ohio due to slow sales.

Caterpillar Inc., the world's largest maker of mining and construction equipment, announced 5,000 new layoffs on top of several earlier actions. The latest cuts of support and management employees will be made globally by the end of March. An additional 2,500 workers already have accepted buyout offers, and ties have been severed with about 8,000 contract workers worldwide. In addition, about 4,000 full-time factory workers already have been let go.

Just last week, Microsoft Corp. said it will slash up to 5,000 jobs over the next 18 months. Intel Corp. said it will cut up to 6,000 manufacturing jobs and United Airlines parent UAL Corp. said it would get rid of 1,000 jobs, on top of 1,500 axed late last year.

The NABE survey of 105 forecasters was taken Dec. 17 through Jan. 8.

Also in the survey, 52 percent said they expected gross domestic product to fall by more than 1 percent this year. GDP measures the value of all goods and services produced within the U.S. and is the best barometer of the country's economic fitness. The last time GDP fell for a full year was in 1991, a tiny 0.2 percent dip. The economy shrank by 1.9 percent in 1982, when the country was suffering through a severe recession.

Forecasters have grown more pessimistic about the outlook. In the October survey, no forecaster thought GDP would fall by more than 1 percent.

In terms of business conditions, more reported customer demand dropping, capital spending reductions and shrinking profit margins.

Altogether the NABE report "depicts the worst business conditions since the survey began in 1982, confirming that the U.S. recession deepened in the fourth quarter of 2008," Johnson said.

Many analysts predict the economy will have contracted at a pace of 5.4 percent in the fourth quarter when the government releases that report on Friday. If they are correct, that would mark the worst performance since a 6.4 percent drop in the first quarter of 1982. The economy is still contracting now — at a pace of around 4 percent, according to some projections

Anonymous said...

You can check daily on this site

Cammie said...

2 million jobs expected to be lost this year, IF obama's plan works. That is the best case scenario, what is the worst case????

TechTalk said...

It gets worse, 1st quarter data below

Gabriela said...

Well its certainly unsettling to hear the president use the word "catastrophe" - I don't really know what the worst case scenario would be... but I also do see a lot of opportunities in this climate for entrepreneurism and establishing your business with a loyal following that will be critical for the time consumer confidence picks up.

I di think this is going to last for quite some time though, let's just all do the best we can and help our friends out as much as we can.

Gabriela said...

Here is the list:

* Rohm and Haas said it plans to cut 900 jobs, or 5.5 percent of its workforce.

* Bank of America may slash up to 4,000 jobs in its capital markets units starting this week.

* Private equity firm Cerberus Capital Management, majority owner of automaker Chrysler, announced it may cut about 10 percent of its worldwide staff.

* Clear Channel Communications which operates radio stations and outdoor advertising space, plans to lay off about 1,500 employees—mostly in ad sales—of the 20,000 UA work force

* ConocoPhillips citing a steep decline in oil and gas prices, said it will cut 4 percent of its workforce and sees big writedowns on some of its exploration and production assets.

* Pfizer plans to lay off as many as 2,400 sales staff this quarter in a continuing reorganization. The drugmaker has already cut about 15,000 jobs in the past two years, including 800 research jobs earlier this week, to downsize before the company's $12 billion-a-year.

* General Electric's GE Capital unit will cut between 7,000 and 11,000 jobs

* Advanced Micro Devices plans to cut 1,100 jobs, 9 percent of its global staff.

* Insurance company WellPoint said that it would eliminate about 1,500 positions, or about 3.5 percent of its workforce.

* Rental car company Hertz Global said Friday it will eliminate more than 4,000 jobs worldwide as it further cuts costs amid slowing demand.

* Delta Air Lines which took over rival Northwest Airlines last year, said it expects about 2,000 staff to opt for early retirement as it aims to trim capacity as much as 8 percent this year.

* Autodesk is cutting 750 jobs, or about 10 percent of its work force.

* Marshall & Ilsley is cutting 830 jobs, or 8 percent of the total.

* Hybrid electric and electric powertrain maker Azure Dynamics said it would reduce its workforce by about 25 percent as part of a cost-reduction plan.

* Motorola said it would cut another 4,000 jobs. The company had previously announced a plan to cut 3,000 jobs in October 2008.

* MeadWestvaco which makes paper and plastic products, said it will cut some 2,000 employees, or about 10 percent of its work force.

* Google said it was closing three engineering offices and cutting 100 recruiters as the recession dampens hiring.

* Computer equipment maker Seagate Technology also said it will eliminate 2,950 jobs, or 6 percent of its work force.
* St. Paul-based sanitizer and detergent maker Ecolab laid off 1,000 workers.

* The nation's largest book store chain Barnes & Noble [said it would cut nearly 100 jobs at its corporate headquarters in New York.

* Barclays was the latest major banking institution to announce big layoffs, revealing its plans to cut 2,100 jobs in its retail and commercial banking units.

* Dutch financial services group ING said it will cut 750 U.S. jobs as part of a global program to cope with the economic slowdown.

* Software giant Oracle announced it will cut around 500 positions in its North American sales and consulting business.

* Visteon said it cut salaries for about 2,000 white-collar employees by 20 percent at its facilities in Michigan and adopted a four-day workweek there for the month of January.

* U.S. manufacturer Cummins it would cut its global white-collar workforce by at least 800 and reduce its top executives' pay by 10 percent next year to save money during the deepening recession.

* Lexmark International announced that its fourth-quarter sales came in worse than expected,prompting a decision to cut 250 jobs and transfer roughly 125 more to lower-cost countries in the coming months.

* Drugstore operator Walgreen said it will cut 1,000 jobs by mid-year, or about 9 percent of corporate management, through a combination of voluntary buyouts and layoffs.

* Boeing the world's second-largest airplane maker, plans to cut about 3 percent, or about 4,500 positisons, of its work force as a weakening global economy lowers demand for jetliners. Many of the cuts will be in areas not directly associated with aircraft production. This will be the company’s second round of layoffs after cutting 800 workers in November 2008.

* Cigna said it will cut about 1,100 jobs and consolidate some offices because of the flagging economy and won't give pay raises to salaried employees this year.

* Alcoa said it will eliminate 13,500 jobs, or 13 percent of its work force, in order to conserve cash and cut costs in the face of the global economic downturn.

* Schlumberger the world's largest oilfield services provider, plans to shed 5 %of its North American workforce, or 1,000 jobs, and is looking at cuts elsewhere

* Oilfield service company Halliburton also confirmed it will begin laying off workers but hasn't said how many or when.
*Citigroup is cutting at least 10,000 jobs

*Sun Microsystems plans to cut up to 6,000 jobs, or 18 percent of its global work force

*Applied Materials, the semiconductor-and-solar panel equipment maker, is slashing 1,800 jobs, the company annonnced after reporting four-quarter profits fell 45% on weak sales due to declining corporate technology spending.

*Deutsche Post, German mail and logistics company Deutsche Post will cut 9,500 jobs at its DHL unit in the U.S. and eliminate U.S.-only domestic express shipping.The new round of cuts, which will see the shedding of 7,000 in a single town, Wilmington, Ohio (pop. 12,00) that has been the hub of DHL's five-year effort to take on US rivals UPS and FedEx on their home turf, are on top of another 5,400 job cuts it already announced.

*Ford said it would cut 2,260 white-collar workers in North America.

*Fidelity Investments will start laying off about 2.9 percent of its global workforce later this month—affecting 1,288 workers in the first round from a workforce of 44,4000—and plans to trim more workers early next year.

*Toy maker Mattel Inc. says it is cutting some 1,000 positions worldwide in response to the ongoing economic downturn. The El Segundo-based company says the positions amount to 3 percent of the company's worldwide workforce and will reduce its professional and management staff by 8 percent. Cuts will come from a combination of layoffs, attrition and retirements, the company said.

*Goldman Sachs notified roughly 3,200 employees this week that they have been laid off, part of previously reported plans to slash 10 percent of the firm's global work force. The move comes after laying off hundreds of support staff and junior bankers in June. The company had a record 32,569 employees in August and the latest cuts reduce headcount to the lowest since 2006.

*Morgan Stanley said on July 31 it was finished cutting jobs, having slashed 4,800 jobs in the past year but some analysts expect Morgan could lay off 15 percent of its work force.

* JPMorgan Chase is looking at cutting at least 10 percent and maybe 15 percent of its workforce. It has over 180,000 employees globally, including 25,000 in investment banking.

*Wachovia, said in August it would cut 6,950 jobs, 600 more than it had previously disclosed.

*At Merrill Lynch, 10,000 employees could be jettisoned as a result of the merger with Bank of America.

*Computer maker Dell, which is nearing the end of nearly 9,000 job cuts, has asked employees to consider taking up to five days of unpaid vacation, is offering voluntary severance packages and has instituted a global hiring freeze.

*Xerox announced job cuts of 5 percent, or 3,000 positions, due to a "tough business environment."

*Hewlett-Packard is laying off more than 24,00 employees due to weak technology spending and the integration of tech-services giant Electronic Data Systems, which H-P acquired earlier this year for $13.25 billion.

*Merck announced plans on Wednesday to cut 12 percent of its workforce, citing a need to change its business model in order to survive.

*LPL Financial, the largest independent broker-dealer in the industry, said that it plans to cut 10% of its workforce, or 275 employees, as part of a cost-cutting operation.

NORTEL filed for bankrupcy

And in education... I just learned that the preschool program I attend with the boys is being cut... the big universities are cutting too: Stanford Business School lays off 49- Framingham State (MA) plans to cut six workers- Brandeis U. Faculty donates to prevent staff layoffs- University of Tennessee layoffs possible- Oral Roberts University begins layoffs- Utah: Higher Ed Officials warn of layoffs- Minnesota State Morehead layoffs- Florida Atlantic U. Officials anticipate more layoffs- Layoffs hit Colorado State University online venture- Colorado State University layoffs “likely”- Norwich University announces layoffs- Bowling Green University set to lay off 43 employees- U. of Chicago Medical Center To Trim Executive Ranks- U. of Denver staff leave under voluntary plan