View Full Version : Mass Layoffs Beginning
10-22-2008, 05:48 PM
Things are starting to get ugly out there. Never underestimate how desperate people
can get when they get hungry, and homeless.
NEW YORK (CNNMoney.com) -- The number of layoff announcements involving at least 50 workers rose in September to the highest level since the Sept. 11 terrorist attacks seven years ago, the government said Wednesday.
There were 2,269 mass layoff actions, up 497 from August, according to statistics released by the Labor Department. That was the most mass layoffs since the 2,407 in September 2001.
Mass layoffs at the highest level since 9/11 attacks - Oct. 22, 2008 (http://money.cnn.com/2008/10/22/news/economy/mass_layoffs/index.htm)
10-23-2008, 05:24 PM
They've been ungoing for quite some time.
Twenty-seven states are now declared to be in recession with five more nearing the same.
10-29-2008, 02:10 PM
Indeed the loss of jobs have been going on for a very long time.
I feel like I'm at the tip of the spear on this subject. I'm from Michigan and we have been hemoraging since 2001. It's been 7 years now of unfathonable job losses. No State has had this poor of an economy and been in a 'recession' this long since the Great Depression.
From the University of Michigan's Economic website (published in 2005) they state: "Over the past five years, Michigan's economy has lost a total of 308,900 jobs and will lose another 9,600 jobs in 2006. The state's manufacturing workforce has declined by about 25 percent during this time and will lose another 28,600 jobs in the next two years."
It's been three years since the information was shared and it's gotten far worse than what they projected.
For the last several years you could (can not) turn on the telivision without hearing of some company/plant laying off between 150-2000 employees by the end of the month. Day after day after day after day, thousands and tens of thousands and hundreds of thousands of Michigan people are now without work.
There is a mass evacuation out of State to try and find work, sometimes completely abandoning homes without any hope of ever selling them; even at a horrid loss.
This week it was announced that in Benton Harbor, Michigan (The World Headquarters for Whirlpool Corporation) that Whirlpool will be laying off 5,000 people.
So, when New York is shocked at 50 people loosing their jobs. Well, it's sort of like telling a starving African child that you only got 4 candy bars to eat between meals today. :)
10-29-2008, 04:30 PM
Not two hours after my very first posting here and look what wonderful news comes out of Michigan (bolstering the proof of my previous statements on the subject of its death):
GM, Chrysler merger could cost Michigan 25,000 jobs, but one automaker's bankruptcy would be worse - Grand Rapids, Michigan Business News - The Grand Rapids Press – MLive.com (http://www.mlive.com/grpress/business/index.ssf/2008/10/gm_chrysler_merger_could_cost.html)
GM, Chrysler merger could cost Michigan 25,000 jobs.....
Spectacular. Wish I had kept renting 5 years ago instead of buying our first house. It's a millstone around our neck.
The problem with fleeing Michigan is the gamble of trying to pick the State that isn't on it's way down next.
I sometimes wish their was some newly discovered land to move off to and start fresh. Everywhere you go though has the same headaches and nightmares and corruption.
But, I digress...
10-30-2008, 12:00 PM
American Express to cut 7,000 jobs.
American Express to cut 7,000 jobs - Yahoo! News (http://news.yahoo.com/s/ap/20081030/ap_on_bi_ge/american_express_restructuring)
Chrysler job cuts.
Big Job Cuts at Chrysler | theledger.com | The Ledger | Lakeland, FL (http://www.theledger.com/article/20081024/news/810240198&tc=yahoo)
General Motor's job cuts.
GM ups job cut target to 30,000 hourly jobs - Nov. 21, 2005 (http://money.cnn.com/2005/11/21/news/fortune500/gm_cuts/index.htm?cnn=yes)
10-30-2008, 07:41 PM
Worse consumer spending in 28 years.
Consumer cut in spending the most since 1980 - Yahoo! News (http://news.yahoo.com/s/ap/20081030/ap_on_bi_ge/financial_meltdown;_ylt=AlaV.di.UR4O3ddwjo8pxsDLLJ 94)
vBulletin® v3.6.12, Copyright ©2000-2014, Jelsoft Enterprises Ltd.