LayoffBlog.com

November 21, 2008

University of Texas Medical Branch begins laying off 3,000 positions

According to The Daily News: “The University of Texas Medical Branch campus, where a chorus of ambulance sirens once was constant and thousands of workers conducted the daily business of keeping a 550-bed hospital running, was somber and quiet Tuesday as the first of 3,000 people learned they no longer had jobs.
Most had worked at John Sealy Hospital, where workers will take the brunt of the massive cut.
Many had never worked any place except the medical branch.
Some who had held out hope their jobs would be spared sat in disbelief at the news. Others, minutes after being dismissed, attended classes to brush up their job-seeking skills.

Then, there were those who didn’t yet know. They waited in dread to enter rooms where their supervisors would deliver the news.

The University of Texas System regents last week authorized cutting up to 3,800 full-time equivalent positions after Hurricane Ike devastated the island campus that had employed 8,000 people.”

International Paper shuts mill, 550 jobs lost

According to AP: “Citing the weak global economy and reduced demand, International Paper Co. has closed its pulp mill in northeastern Louisiana, terminating 550 employees.”

This crisis could have a happy ending

Fortune: “I was thinking about the financial mess the other day and I came up with this theory. I’m wary of it because it’s comforting, even uplifting, and by definition any economic supposition that has a happy ending is suspect. So with that caveat here goes:

I remember talking to a wise man at the end of the last decade who was pointing out to me how much the market had gone up during the 1990s and how stocks couldn’t possibly continue to go up at that rate. The market’s historical annual mean gain is about 8%, and yet between 1990 and 2000 the market had climbed some 15% per annum.” (full story)

1 job, 11 interviewers

Fortune: “It’s not easy if you’re a candidate being grilled by a big panel, but you can make it work for you. Plus, using LinkedIn to boost your job search.

..I’ve been working with a recruiter on finding my next job, and he just told me that one possibility (an opening for a manufacturing manager with a midsized company) will require that I undergo a panel interview, meaning an interview conducted by a group of prospective colleagues and bosses, all in the room..” (full story)

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