Companies With Record Layoffs In 2012

TruthOut10

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Dec 3, 2012
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Whatever recovery the jobs market posted in 2012, mass layoffs remained impressively high. Dozens of companies each fired thousands of workers, with failing firms at the top of the list based on total cuts.

Hewlett-Packard Co. (NYSE: HPQ), which is so badly off that investors now question its viability, fired 27,000 people in May. That number could rise rapidly as some of its core tech divisions struggle for sales. The botched buyout of Autonomy almost certainly will cause more job cuts in that division, which has, according to HP, much lower profits than forecast. CEO Meg Whitman has said HP sales may not improve for two years or more.

Hostess moved into Chapter 11 so quickly that the public only watched the process in its late stages, when it became clear that Twinkies might disappear. Friction between management and labor did not improve during negotiations, and 18,500 people lost work.

Read more: Companies with Record Layoffs in 2012 - 24/7 Wall St. Companies with Record Layoffs in 2012 - 24/7 Wall St.
 
Pentagon Lays Off 46,000...
:eek:
Pentagon says budget cuts could hurt Afghan war effort, warns of major furloughs ahead
January 25, 2013 - The Afghan war effort eventually would be harmed by across-the-board budget cuts, even as the Obama administration intends to shield the military's combat mission from the reductions, the Pentagon's No. 2 official said Friday.
"There will be second-order effects on the war," Ashton Carter, the deputy defense secretary, said in an interview in his office with a small group of reporters. Deferred maintenance on weapons and other equipment, for example, will eventually erode the combat fitness of military units deploying to Afghanistan, he said. The U.S. has about 66,000 troops in Afghanistan, with an undetermined number of withdrawals expected this year and in 2014.

The administration holds out hope that Congress will come up with a deficit-cutting mechanism to replace the across-the-board spending cuts due to take effect March 1, but Carter suggested that hopes are not high. Defense Secretary Leon Panetta and Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff, have repeatedly warned that the threatened defense cuts, amounting to about $50 billion this budget year, would hurt national security. Carter said he feared that the message has not been heard widely enough in Congress and across the country.

If the cuts take effect in March, hundreds of thousands of Pentagon civilian employees will face furloughs and reduced paychecks by April, Carter said. They would lose one day of work per week for the remainder of the budget year, which ends in September, he said. "This is painful to use," Carter said.

The Pentagon has about 800,000 civilian employees; they have not yet been officially notified of furloughs. Carter said the furloughs would be expected to save $5 billion. No military positions will be cut, he said. Carter said the Pentagon already is eliminating all 46,000 of its temporary civilian workers in anticipation of budget cuts.

Read more: Pentagon says budget cuts could hurt Afghan war effort, warns of major furloughs ahead | Fox News

See also:

Factory activity gains speed and jobless claims drop
January 24. 2013 WASHINGTON - Factory activity grew the most in nearly two years in January and the number of new claims for jobless benefits dropped to a five-year low last week, giving surprisingly strong signals on the economy's pulse.
Financial information firm Markit on Thursday said its preliminary Purchasing Managers Index for manufacturing rose to 56.1 this month, its best showing since March 2011. A reading above 50 indicates expansion. A separate report from the Labor Department showed initial claims for state unemployment benefits fell by 5,000 to 330,000, the lowest since January 2008 when the 2007-2009 recession had just begun.

Together, the data suggest the economy entered the new year with some underlying momentum despite an ongoing political battle in Washington over fiscal policy. "The economy is structurally doing a little bit better," said Michael Strauss, an economist at Commonfund in Wilton, Connecticut. Analysts polled by Reuters had expected Markit's "flash" factory gauge to slip and looked for claims to rise to 355,000.

The unexpectedly strong data helped stocks to rise, reversing early declines caused by disappointing revenues reported by Apple Inc. Better-than-expected economic news from the euro zone and China also supported stocks. Economists have cautioned about reading too deeply into this month's figures on jobless claims, which tend to be volatile around this time of the year because of large swings in the model the government uses to iron out seasonal fluctuations.

Still, claims have fallen for two straight weeks, suggesting employers do not yet see tax hikes enacted this month as a big threat to consumer demand. A four-week moving average for new claims, meant to provide a better sense of underlying trends, fell 8,250 to 351,750, the lowest since March 2008. The data helped the dollar extend gains versus the yen , while U.S. Treasury debt prices fell. Claims are now at roughly the same level they were in much of 2006 and 2007.

http://www.unionleader.com/article/20130124/NEWS02/130129463
 
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Our economy has been a joke for a while now.....

Thanks Barack Hussein Obama.... :clap2:

Millions of jobs go unfilled because people don't have the education. Republicans think education is for snobs. Don't blame that on Obama.
 
I would think in any given year you could make this thread. Seriously, what year, even in highest of economic boom times, hasn't had large companies making record layoffs?
 
Our economy has been a joke for a while now.....

Thanks Barack Hussein Obama.... :clap2:

Millions of jobs go unfilled because people don't have the education. Republicans think education is for snobs. Don't blame that on Obama.

Its not a lack of an education, its the wrong education. We need technical professionals and colleges are pumping out people with degrees in marketing, finance, and obscure basketweaving studies.

We also need more tradespeople. We have to get rid of this notion that college is required for sucess. A good plumber or carpenter can go to college later to get a business degree to help run thier own business, they dont need one when they are learning thier trade.
 
Our economy has been a joke for a while now.....

Thanks Barack Hussein Obama.... :clap2:

Millions of jobs go unfilled because people don't have the education. Republicans think education is for snobs. Don't blame that on Obama.

Its not a lack of an education, its the wrong education. We need technical professionals and colleges are pumping out people with degrees in marketing, finance, and obscure basketweaving studies.

We also need more tradespeople. We have to get rid of this notion that college is required for sucess. A good plumber or carpenter can go to college later to get a business degree to help run thier own business, they dont need one when they are learning thier trade.

Which is why Obama said we need to invest in Technical colleges and work programs at Jr. Colleges. He said no company will turn over a million dollar piece of equipment to someone without the proper education.

This type of investment is part of "rebuilding infrastructure". Something Republicans are vehemently against. Their plan is to bring immigrants here who already have the right education. I guess they feel the Republican base isn't smart enough to learn. At least that's what both Romney and Santorum feels.
 
Millions of jobs go unfilled because people don't have the education. Republicans think education is for snobs. Don't blame that on Obama.

Its not a lack of an education, its the wrong education. We need technical professionals and colleges are pumping out people with degrees in marketing, finance, and obscure basketweaving studies.

We also need more tradespeople. We have to get rid of this notion that college is required for sucess. A good plumber or carpenter can go to college later to get a business degree to help run thier own business, they dont need one when they are learning thier trade.

Which is why Obama said we need to invest in Technical colleges and work programs at Jr. Colleges. He said no company will turn over a million dollar piece of equipment to someone without the proper education.

This type of investment is part of "rebuilding infrastructure". Something Republicans are vehemently against. Their plan is to bring immigrants here who already have the right education. I guess they feel the Republican base isn't smart enough to learn. At least that's what both Romney and Santorum feels.

Yeah, you can invest all you want, but you have to GET the people to want to take the courses. Technical training is HARD and we have turned college into a 4 year extension of high school.

I drank in College, I also graduated with a 3.63 in Chemical Engineering. Today people take elemetry poetry, go out 5 nights a week, and wonder why no one will hire them.

The Feds can't do anything about this, it has to be taught at the local level that we need these people trained.
 

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