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alstry (36.17)

Is 10% the Magic Number

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January 20, 2009 – Comments (4)

Company after company is laying off 10% of its workforce.......

Warner Bros. cutting 10% of workforce, or 800 jobs: WSJ

Many companies are slashing labor by more than 10%.  Others shutting down completely.  No wonder Obama is preparing Americans to volunteer......there will likely be few jobs left as a residue of Bush policies for the last eight years.......

Will Obama be any better???  Who knows....but he can't be any worse.......our entire banking system is now insolvent as Bush rushes out of town.......anyone see where those neocons went???

 

4 Comments – Post Your Own

#1) On January 20, 2009 at 6:10 PM, alstry (36.17) wrote:

Can you hear the noise????

Bose Corp., a Framingham company known for its audio products, confirmed news reports that it is cutting 1,000 jobs, or about 10 percent of its work force, as it seeks to adapt to a global economy in recession.

Lots of loose change????

Bank of America may slash as much as 4,000 jobs as it absorbs Merrill Lynch, the Financial Times reported Tuesday.

Remember folks, behind every individual layoff is a family.  And likely many more families for the vendores and suppliers of these companies that are not announced.

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#2) On January 20, 2009 at 10:53 PM, alstry (36.17) wrote:

As I said....not just America either...

Jan 20, 2009 (Dow Jones Commodities News via Comtex) -- PERTH (Dow Jones)-Global Miner BHP Billiton Ltd. (BHP.AU) said Wednesday it will cut around 6,000 workers because of weakening demand for its products and the uncertain economic outlook. BHP Chief Financial Officer Alex Vanselow told reporters the losses, from its current workforce of 41,000 employees and 60,000 contractors, will result in a one-off cost to BHP of around US$500 million. Report this comment
#3) On January 20, 2009 at 11:50 PM, alstry (36.17) wrote:

As President Barack Obama embraced renewable energy in his inaugural speech Tuesday, Clipper Windpower laid off 90 employees - about 11% of its workforce - as the global financial crisis throws a spanner in the once-booming wind industry.

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#4) On January 22, 2009 at 6:25 PM, rebelcow (< 20) wrote:

Hate to say it, but Bush didn't create this problem.  Neither Democrats nor Republicans would have ever had the foresight to predict this mess and if they could've they would have never been able to fix it.

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