Job cuts thread: 4-18-05 249,800 jobs cut in Jan-April

[dmcowen674]

I used to have an economy thread where it was argued that the economy was great.

Now with the Fed rocking on their heels and no one of any consequence arguing that the economy tanked I will just keep a takky of the latest job cuts.

Be interesting to see what jbs all these people can get.

How many hamburgers can we produce before having an oversupply?
==============================================

4-18-2008 17,800 people let go today amongst Citi-Group and AT&T.

Still enough McDonalds hamburger assembly lines out there for them?

===============================================
At least it's no just the little guys getting canned o this one:

4-3-2008 CBS reduces TV stations' news staffs

CBS-owned TV stations in Los Angeles, San Francisco and Chicago are reducing their news staffs. The cuts include two well-known anchors in Los Angeles, five on-air veterans in San Francisco and one of Chicago's highest-paid anchors.

About a dozen news staffers will depart KCBS-TV and KCAL-TV in Los Angeles, according to a person who works at one of the CBS-owned stations

Technical staff was also trimmed, the person said.

In San Francisco, KPIX-TV is letting go 14 newsroom employees, including anchor and reporter Rick Quan, and reporters Manny Ramos, Bill Schechner, Tony Russomano and John Lobertini, the San Francisco Chronicle reported Tuesday.

extended beyond the newsroom to other divisions of both KPIX and KBCW-TV, a San Francisco-based CW affiliate, KPIX communications director Akilah Monifa told The Associated Press.

"It was our decision in these economic times to try to go forward and do the best as we could with our stations," said Monifa.

In Chicago, cost-cutting at WBBM-TV has claimed at least 18 jobs including that of anchor Diann Burns, who earned $2 million a year, lead sportscaster Mark Malone, and Mary Ann Childers, an anchor-turned-health correspondent.

 

[dmcowen674]

Oh the noes, the mighty Google

4-3-2008 Google Trims DoubleClick Jobs in Biggest Staff Cuts

Google Inc. reported the biggest workforce reduction in its nine-year history, cutting jobs at DoubleClick Inc., the online advertising company it bought last month for $3.24 billion.

About 300 of DoubleClick's 1,200 U.S. employees were fired or placed in ``transitional'' roles, Mountain View, California- based Google said today in an e-mailed statement.

Google fell 1 cent to $465.70 at 4 p.m. New York time in Nasdaq Stock Market trading.

The stock has dropped 33 percent this year.

 

[dmcowen674]

Even the TV Ad pimping Drug companies cutting back:

4-3-2008 Schering-Plough Will Cut Jobs, Number of Plants

Schering-Plough Corp. said it will cut 10 percent of its jobs and shut plants to save $1.5 billion annually, two days after a panel of doctors said its cholesterol pill Vytorin shouldn't be used as an initial treatment.

The plan calls for trimming 10 percent of costs based on 2007 spending, the Kenilworth, New Jersey-based company said today in a statement. The panel recommendation may erode sales of Vytorin and Schering's Zetia, which reached a combined $5 billion last year, by 24 percent in 2008, said Jim Kelly, a Goldman, Sachs & Co analyst, on March 31.

Hassan said no area of the company will be exempt, including high management.

The company employs 55,000, according to its Web site.

Schering rose 1.7 percent to $14.10 at 5:59 p.m. New York time in extended trading. The stock has lost 29 percent in the three days since cardiologists recommended against using Vytorin as a first alternative for patients.

Merck and Schering-Plough, which funded and helped design the earlier Enhance study, have tried to discredit it.

The companies wanted to alter the main goal of the trial after it was completed, a scientific faux pas

Congressional Probe

The U.S. Congress is investigating whether the companies intentionally delayed releasing the data and tried to change the study design to cover up the findings.

 

[blackangst1]

Where's your cheering for rich executives getting the axe? You hate these guys...

 

[dmcowen674]

Originally posted by: blackangst1
Where's your cheering for rich executives getting the axe? You hate these guys...

Please post them if you know about them. :thumbsup:

 

[senseamp]

Good news about Schering. It was US taxpayers and insurance ratepayers supporting those plants producing less effective much more expensive product. Good riddance.

 

[alchemize]

And it only took what - 5 years for your recession predication to come true? How are you not rich with this economic foresight?

I predict *booming voice* another recession someday after this one!

 

[JS80]

Originally posted by: alchemize
And it only took what - 5 years for your recession predication to come true? How are you not rich with this economic foresight?

I predict *booming voice* another recession someday after this one!

There was a recession in 2003? The last recession was in the early 90s.

 

[lupi]

Didn't realize that's where Malone wen't to.

 

[Lemon law]

If nothing else, I can only cheer if doubleclick gets the axe entirely. I get sick and tired of cleaning out their tracking cookies, they may not do me much harm, but they do me zero good. Making it cheaper for google to plant tracking cookies in my computer is nothing to cheer about.

On the television front, I hear the writers strike will be replaced by the actors strike. I can see only more inane game
show, survivor shows, and big brother shows a coming. On the news show front, an American tradition of some quality is gradually being driven into a low quality consolidation. Newton Minnow was right, television has become a vast wasteland
without a single oasis to break the uniform blight. In an era of super expensive plasma sets, I must ask why have a television in the first place?

 

[woodie1]

..."without a single oasis to break the uniform blight. In an era of super expensive plasma sets, I must ask why have a television in the first place?"

Bought my 1st HDTV last year and sometimes wonder why. So few shows worth watching nowadays.

I can think of a few other CBS employees they could let go.

 

[RY62]

Originally posted by: dmcowen674
I used to have an economy thread where it was argued that the economy was great.

Now with the Fed rocking on their heels and no one of any consequence arguing that the economy tanked I will just keep a takky of the latest job cuts.

I guess, since I'm in an area that seems to be experiencing economic growth, I haven't been following the jobless rates. Is it really getting that bad?

Just out of curiosity...what is the current US unemployment rate?

How does the US unemployment rate stack up against other countries? Anyone know where to find the numbers for Japan, China, India, UK, Germany, France, Russia, Canada...
I'd just like to see a comparison.

 

[dmcowen674]

Originally posted by: RY62

Originally posted by: dmcowen674
I used to have an economy thread where it was argued that the economy was great.

Now with the Fed rocking on their heels and no one of any consequence arguing that the economy tanked I will just keep a takky of the latest job cuts.

I guess, since I'm in an area that seems to be experiencing economic growth, I haven't been following the jobless rates. Is it really getting that bad?

Just out of curiosity...what is the current US unemployment rate?

How does the US unemployment rate stack up against other countries? Anyone know where to find the numbers for Japan, China, India, UK, Germany, France, Russia, Canada...
I'd just like to see a comparison.

The numbers are bogus anyway.

Just keep enjoying taking the old union jobs down there in the south.

 

[soccerballtux]

Oh no! People who weren't working hard enough and weren't responsible enough and don't have the capability to be versatile in their job will lose their job!

The highest %unemployment rates in the last 50 years (10%) is not bad at all. This means instead of the standard 1/20 people in the US being without a job, we now have 1/10 people in the US without a job. The other 90% of us that work smart and hard are still employed.

There's always a guy in somebody's department that futzes and putzes around all day. Remaining employed is entirely up to you, by this I mean they're not going to fire you if you're the guy always asking for more work, doing the job to 110%, enjoyable to be around etc. Just make sure you're not the guy being lazy and you won't be a part of the 10%.

 

[RY62]

Originally posted by: dmcowen674

Originally posted by: RY62

Originally posted by: dmcowen674
I used to have an economy thread where it was argued that the economy was great.

Now with the Fed rocking on their heels and no one of any consequence arguing that the economy tanked I will just keep a takky of the latest job cuts.

I guess, since I'm in an area that seems to be experiencing economic growth, I haven't been following the jobless rates. Is it really getting that bad?

Just out of curiosity...what is the current US unemployment rate?

How does the US unemployment rate stack up against other countries? Anyone know where to find the numbers for Japan, China, India, UK, Germany, France, Russia, Canada...
I'd just like to see a comparison.

The numbers are bogus anyway.

Just keep enjoying taking the old union jobs down there in the south.

Why do you say the numbers are bogus? Do you have any proof that the reported numbers are bogus?

I decided to look up the numbers and answer my own question. The US unemployment rate, as of Feb 2008, is at 4.8%. I looked to Wiki for the other countries in my question and I just don't see the doom & gloom. Do you know a source for more current world numbers?

Feb 2008 - USA 4.8%
Jan 2008 - Japan 3.8%
2006 (old) - China 6.1%
2007 - India 7.2%
2007 - UK 5.4%
2007 - Germany 9.1%
2007 - France 8%
Nov 2007 - Russia 5.9%
2007 - Canada 6%

 

[dmcowen674]

Originally posted by: RY62

Originally posted by: dmcowen674

Originally posted by: RY62

Originally posted by: dmcowen674
I used to have an economy thread where it was argued that the economy was great.

Now with the Fed rocking on their heels and no one of any consequence arguing that the economy tanked I will just keep a takky of the latest job cuts.

I guess, since I'm in an area that seems to be experiencing economic growth, I haven't been following the jobless rates. Is it really getting that bad?

Just out of curiosity...what is the current US unemployment rate?

How does the US unemployment rate stack up against other countries? Anyone know where to find the numbers for Japan, China, India, UK, Germany, France, Russia, Canada...
I'd just like to see a comparison.

The numbers are bogus anyway.

Just keep enjoying taking the old union jobs down there in the south.

Why do you say the numbers are bogus? Do you have any proof that the reported numbers are bogus?

I decided to look up the numbers and answer my own question. The US unemployment rate, as of Feb 2008, is at 4.8%. I looked to Wiki for the other countries in my question and I just don't see the doom & gloom. Do you know a source for more current world numbers?

Feb 2008 - USA 4.8%
Jan 2008 - Japan 3.8%
2006 (old) - China 6.1%
2007 - India 7.2%
2007 - UK 5.4%
2007 - Germany 9.1%
2007 - France 8%
Nov 2007 - Russia 5.9%
2007 - Canada 6%

You're obviously either new or a shill.

The numbers dropped with the current administration as they excluded many groups that were previously counted.

 

[RY62]

Originally posted by: dmcowen674

You're obviously either new or a shill.

The numbers dropped with the current administration as they excluded many groups that were previously counted.

I admitted I was new to looking at jobless numbers. Unemployment hasn't been an issue for me for a long time. I was laid off for about 6 months in 1980/81. Other than that, I've never had a job problem.

I wouldn't mind being educated on this topic. Do you have info as to the changes in the way the numbers are reported now vs in the past?

 

[CADsortaGUY]

Originally posted by: RY62

Originally posted by: dmcowen674

You're obviously either new or a shill.

The numbers dropped with the current administration as they excluded many groups that were previously counted.

I admitted I was new to looking at jobless numbers. Unemployment hasn't been an issue for me for a long time. I was laid off for about 6 months in 1980/81. Other than that, I've never had a job problem.

I wouldn't mind being educated on this topic. Do you have info as to the changes in the way the numbers are reported now vs in the past?

Don't mind dave - he doesn't believe any numbers from the gov't that don't fit his twisted view of reality. Dave lost a couple jobs, got ripped off buying a business, survived Katrina and thinks the world is out to get him and that everything sucks for everyone all the time as long as a (R) in charge. But that's just dave - you'll just have to learn to ignore his bleatings...

 

[Genx87]

Originally posted by: dmcowen674

Originally posted by: RY62

Originally posted by: dmcowen674

Originally posted by: RY62

Originally posted by: dmcowen674
I used to have an economy thread where it was argued that the economy was great.

Now with the Fed rocking on their heels and no one of any consequence arguing that the economy tanked I will just keep a takky of the latest job cuts.

I guess, since I'm in an area that seems to be experiencing economic growth, I haven't been following the jobless rates. Is it really getting that bad?

Just out of curiosity...what is the current US unemployment rate?

How does the US unemployment rate stack up against other countries? Anyone know where to find the numbers for Japan, China, India, UK, Germany, France, Russia, Canada...
I'd just like to see a comparison.

The numbers are bogus anyway.

Just keep enjoying taking the old union jobs down there in the south.

Why do you say the numbers are bogus? Do you have any proof that the reported numbers are bogus?

I decided to look up the numbers and answer my own question. The US unemployment rate, as of Feb 2008, is at 4.8%. I looked to Wiki for the other countries in my question and I just don't see the doom & gloom. Do you know a source for more current world numbers?

Feb 2008 - USA 4.8%
Jan 2008 - Japan 3.8%
2006 (old) - China 6.1%
2007 - India 7.2%
2007 - UK 5.4%
2007 - Germany 9.1%
2007 - France 8%
Nov 2007 - Russia 5.9%
2007 - Canada 6%

You're obviously either new or a shill.

The numbers dropped with the current administration as they excluded many groups that were previously counted.

Try again, our calculations havent change in any meaningful way in years. And our way of calculating unemployment is nearly identical to the EU. The only difference is the EU calculates people from age 15, while we do age 16.

 

[RY62]

Originally posted by: CADsortaGUY

Originally posted by: RY62

Originally posted by: dmcowen674

You're obviously either new or a shill.

The numbers dropped with the current administration as they excluded many groups that were previously counted.

I admitted I was new to looking at jobless numbers. Unemployment hasn't been an issue for me for a long time. I was laid off for about 6 months in 1980/81. Other than that, I've never had a job problem.

I wouldn't mind being educated on this topic. Do you have info as to the changes in the way the numbers are reported now vs in the past?

Don't mind dave - he doesn't believe any numbers from the gov't that don't fit his twisted view of reality. Dave lost a couple jobs, got ripped off buying a business, survived Katrina and thinks the world is out to get him and that everything sucks for everyone all the time as long as a (R) in charge. But that's just dave - you'll just have to learn to ignore his bleatings...

Gotcha...

To me, it doesn't matter who's in charge. If I focus on negatives, everything becomes negative. I'd rather have a positive outlook and focus on making my own world a better place... just an observation.

 

[Special K]

Originally posted by: JS80

Originally posted by: alchemize
And it only took what - 5 years for your recession predication to come true? How are you not rich with this economic foresight?

I predict *booming voice* another recession someday after this one!

There was a recession in 2003? The last recession was in the early 90s.

So it wasn't officially a recession after the .com bubble burst and the 9/11 terrorist attacks? (serious question).

 

[dmcowen674]

Any ATers still in denial?

4-5-2008 Huge job losses set off recession alarms

It's no longer a question of recession or not. Now it's how deep and how long. Workers' pink slips stacked ever higher in March as jittery employers slashed 80,000 jobs, the most in five years, and the national unemployment rate climbed to 5.1 percent.

Job losses are nearing the staggering level of a quarter-million this year in just three months.

For the third month in a row total U.S. employment rolls shrank ? often a telltale sign that the economy has jolted dangerously into reverse.

"It is now very clear that the fat lady has sung for the economic expansion. The country has slipped into a recession," said Stuart Hoffman, chief economist at PNC Financial Services Group. Indeed, there is widening agreement that the first recession since 2001 has arrived. Even Ben Bernanke, in a rare public utterance for a Federal Reserve chairman, used the "r" word, acknowledging for the first time this week that a recession was possible.

Job losses were widespread last month, hitting workers at factories, construction companies, retailers, banks, real-estate firms and even temporary-help agencies. Also mortgage brokers, hotels, computer design shops, accounting firms, architecture and engineering companies, legal services, airlines and other transportation as well as telecommunications companies.

All told, the economy now has lost 232,000 jobs in the first three months of this year.

Bernanke and the Bush administration are hopeful the economy will improve in the second half of this year. Even so, Bernanke predicted this week that the unemployment rate would rise further. Some analysts say it could climb to 5.75 percent or higher this year.

 

[senseamp]

There are huge layoffs here in Silicon Valley
I just switched jobs, and my timing was perfect. If I did it now, there would be a lot more competition.

 

[dmcowen674]

Originally posted by: senseamp
There are huge layoffs here in Silicon Valley
I just switched jobs, and my timing was perfect. If I did it now, there would be a lot more competition.

I thought the Valley was long dead?

At least that's what all the dot.com bashers have been saying since 2001.

 

[IGBT]

..will get plenty worse as eco-alarmism becomes public policy in the US. Many more US companies will flee the green fog of eco-fascism. It's a world market. Plenty of places to relocate to with rational eco-policies.