At a time when the federal government is spending billions of stimulus dollars to stem the tide of U.S. layoffs, should that same government put even more Americans out of work by buying cheaper foreign products? In this case, Chinese condoms.
In a move expected to cost 300 American jobs, the government is switching to cheaper off-shore condoms, including some made in China.
Source: The Kansas City Star
~News submitted by upthecreek
A total of 237,900 American workers lost their jobs through mass layoffs in January.
That was up 11,790 from the December total, according to a report released Wednesday by the U.S. Bureau of Labor Statistics.
The number of mass layoff events declined from month to month, even though the number of affected workers increased. The bureau counted 2,227 mass layoffs in January, down slightly from 2,275 in December.
Source: U.S. Bureau of Labor Statistics, South Florida Business Journal
Hilton Hotels Corporation (HHC), the US hotel operator, is planning more than 1,000 job losses under a $250 million (£175 million) cost-cutting program. HHC, controlled by Blackstone Group, announced plans to close its corporate headquarters in Beverly Hills, California, and move to Virginia last week. The 500 staff at its Watford[,UK] international center also expect big job cuts.
HHC declined to comment although industry sources confirmed that its offices in Watford, Dubai and Singapore would all suffer job losses. Insiders expect at least half the employees in Watford to lose their jobs as the old Hilton International headquarters becomes a European center.
Source: Times Online
Virgin Atlantic has said it is consulting with staff over the possibility of making up to 600 redundancies across the business.
The airline said it was reshaping its business to ensure it remained strong during the economic downturn. Virgin Atlantic employs about 8,500 people worldwide.
Source: BBC
Hit by expectations of further financial losses, Pioneer Corp. has announced 10,000 job cuts, plant closings in the US and UK, and plans to leave the plasma display market. Job cuts will include 6,000 full-time salaried employees and 4,000 contract workers both in Japan and other countries.
In a move resulting in some 350 job layoffs, the company will shut down two overseas plasma display assembly plants, located in Pomona, California, and Castleford, Britain. Pioneer plans to exit the plasma display business entirely by March of this year, according to wire reports.
Source: betanews.com
The Sunnyvale[,CA]-based Network Appliance Inc. on Wednesday reported a $75 million loss in the third quarter, or 23 cents a share, and said it would cut about 6 percent — or about 500 people — from its global work force.
According to AP, Forbes: “The Greenbrier resort is furloughing nearly half its 1,350 employees as it struggles with a poor economy.”
“The resort recorded a loss of $35 million last year due to cancelations and a nearly yearlong labor dispute.”
According to CNN Money: “If layoffs, restructurings, and a foggy future at work have you rattled, try to take control of the things you can. Here’s how”:
Source: CNN Money
SpiegelOnLine reports: “According to a report released on Wednesday by the Federal Labor Agency, which tracks German unemployment statistics, the number of jobless rose by 114,000 in December, bringing the total to 3.102 million or 7.4 percent.”
“On average, the total number of unemployed last year was 508,000 lower than in 2007. Analysts, though, anticipate that 2009 will see increased job losses in Germany.”
According to CNN Money: “Bankruptcy filings by American consumers increased nearly a third in 2008, according to a new report.
The American Bankruptcy Institute said overall consumer filings rose to 1.06 million in 2008, compared with 801,840 during 2007. The ABI based its study on data from the National Bankruptcy Research Center.”
According to Bloomberg: “Logitech International SA (LOGN:VX), the world’s biggest maker of computer mice, withdrew its fiscal 2009 financial targets and said it will cut 15 percent of its salaried workforce because of the deepening global recession.
Logitech, based in Romanel-sur-Morges, Switzerland, will book a related restructuring charge in the fiscal fourth quarter ending March 31, 2009, the company said in a statement distributed by Business Wire today.”
ABX Air – an air cargo services provider operating out of Wilmington, Ohio and provides services for DHL – is laying off 868 workers in Ohio, 56 in Washington, 116 in Florida, according to WARN notices.
The biggest names to be shown the door as a result of the economic crisis:
“Their distinguished company includes James Cayne of the now-deceased Bear Stearns and Richard Syron and Daniel Mudd, the former CEOs of the mortgage buyers Freddie Mac and Fannie Mae.”, according to Forbes and MSNBC
“There are two kinds of CEO firings,” says Noel Tichy, a professor at the Ross School of Business at the University of Michigan. “There are the crooks and there are the incompetents.” This year the biggest departing names all fell into a gray area in between.”
According to CNNMoney: “Hyundai Motor America is taking aim at Americans’ worries about job security: If you buy a new Hyundai and lose your job within a year, you can give it back.”
“With no extra charge to the sticker price, the program pays the difference between the car’s trade-in value at the time the owner files a claim and any remaining balance on the loan up to a maximum of $7,500.”
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