Elections have consequences
From CNBC: Boeing announced
a major restructuring of its defense division on Wednesday that will
cut 30 percent of management jobs from 2010 levels, close facilities in
California and consolidate several business units to cut costs.
The company [BA
70.11
-1.47
(-2.05%)
] told employees about the changes on Wednesday, in a memo obtained by Reuters and confirmed by Boeing. http://www.cnbc.com/id/49729998
Remember when the Obama administration begged defense companies not to mention layoffs before the elections?
From Free Republic: Last night's victory for the President marks the first time since its
inception that Obamacare is no longer a what-if; it is the future of
health care in America.
It also means a near immediate impact on
the economy. With 20 or so new or higher taxes set to be implemented,
ranging from a $123 billion surtax on investment income, through the $20
billion medical device tax, all the way down to the $600 million
executive compensation limit, Obamacare will be a nearly unbearable tax
burden on the economy.
Who will pay? The middle-class workforce, of course.
So
with another four years for President Obama to look forward to, and the
obvious inevitability of Obamacare that this entails, let's examine the
very real jobs that will be lost, and the very real lives that will be
affected.
Welch Allyn
Welch Allyn, a company that
manufactures medical diagnostic equipment in central New York, announced
in September that they would be laying off 275 employees, or roughly
10% of their workforce over the next three years. One of the major
reasons discussed for the layoffs was a proactive response to the
Medical Device Tax mandated by the new healthcare law.
Dana Holding Corp.
As
recently as a week ago, a global auto parts manufacturing company in
Ohio known as Dana Holding Corp., warned their employees of potential
layoffs, citing "$24 million over the next six years in additional U.S.
health care expenses". After laying off several white collar staffers,
company insiders have hinted at more to come. The company will have to
cover the additional $24 million cost somehow, which will likely equate
to numerous cuts in their current workforce of 25,500 worldwide. http://www.freerepublic.com/focus/f-news/2956827/posts
From WCAX, Vermont: CVPH Medical Center has laid off 17 workers to help balance a budget shortfall.
Hospital officials in New York say nine of
the cuts came from management, eight others were hourly workers. They
blame a reduction in reimbursements and fewer admissions for the revenue
shortfall.
Through September, CVPH operating expenses exceeded revenues by more than $400,000. http://www.wcax.com/story/20034121/layoffs-at-cvph
From Kentucky.com: The leader of an automotive parts plant in Lincoln County has told state
officials that there are plans to lay off 75 workers starting in late
December. http://www.kentucky.com/2012/11/07/2398967/brake-company-in-stanford-laying.html
From avweb.com: A letter sent by Hawker Beechcraft to its employees Wednesday informed
them that the company would be cutting workers and closing specific
facilities, resulting in job losses for more than 400 employees. Hawker
Beechcraft Services facilities in Little Rock, Ark., Mesa, Ariz., and
San Antonio, Texas, will "begin the process of closing," shedding some
240 jobs in the process. Hawker Beechcraft Corporation in Wichita, Kan.,
and Little Rock, Ark., will lose an additional 170 people to the cuts.
Workers will begin receiving notices this Friday, Nov. 9. Some will be
"required to work during all or some of the 60-day Worker Adjustment and
Retraining Notice (WARN) period based on business needs," according to
the letter. http://www.avweb.com/avwebflash/news/hawker_beechcraft_layoff_207658-1.html
From kake.com: Additional Hawker Beechcraft employees are being laid off in Wichita and other cities around the country.
HBC made the announcement in a letter that went out to employees on Wednesday.
Approximately 170 employees combined will be laid off in
Wichita and in Little Rock, Arkansas. The company didn't say how many
would be affected at each location, but said more than half of the 170
are in Arkansas. http://www.kake.com/home/headlines/HBC-Announces-More-Layoffs-In-Wichita-Other-Cities-177746171.html
More information on job cuts on a daily basis: http://www.dailyjobcuts.com/
From wamc.org: The largest hospital in New York’s North Country announced lay-offs on Wednesday.The
CVPH Medical Center in Plattsburgh says 17 employees, 9 from management
and 8 hourly staff, have been laid off due to “help bolster the
hospital’s financial position in 2013 and beyond.”
Those laid off
are receiving severance pay and health insurance thru the end of the
year and the hospital will assist them in finding new employment.
CVPH President Stevens Mundy said the hospital has initiated a number of measures to reduce expenses over the past few months. http://www.wamc.org/post/hospital-announces-layoffs?ft=1&f=
From The Dallas Business Journal:
Research in Motion, the maker of the BlackBerry smartphone, did
a layoff at its U.S. headquarters in Irving Wednesday, a source
familiar with the situation said.
The source, who requested anonymity because of the sensitivity
of the matter, confirmed that a majority of those affected were
call-center staffers. http://www.bizjournals.com/dallas/news/2012/11/07/research-in-motion-does-layoff-irving.html
From MPR: Hundreds of workers in our region are losing their jobs as wind turbine manufacturers cut production.
The federal tax credit that
subsidizes wind energy is set to expire at the end of the year, and
political uncertainty is putting the brakes on the wind industry. More
than 500 workers are losing their jobs in the Red River Valley.
By the end of November, 345 workers
who make wind turbine blades at a Grand Forks, N.D. factory will be out
of work.http://minnesota.publicradio.org/display/web/2012/11/06/business/wind-manufacturer-layoff/
This is just the tip of the iceberg and there will be many more layoffs in the next few days.
Elections have consequences and many workers are feeling the consequences.
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If layoffs are really keyed to who won the presidential election, you've got a whole lot of sore loser, butt-hurt, asshole bosses out there, don't you? There's no material reason for this decision. There is no concrete thing a person could point to, where they'd KNOW a Romney win would provide a stable economy, or a continued Obama one would provide calamity. It's all ideology and soothsaying at this point.
ReplyDeleteI call "un-American jackass" on any employer laying off people the day after election day. It's preposterous.
For all of you Obama voters you have destroyed our country. Shame on you.
ReplyDeleteIt's not the economy per se, it's the ObamaCare bill and the insurance problems that are headed this way.
ReplyDeleteYou are going to find a lot of employers firing employees just to get under 50 employees mark so they won't have to deal with ObamaCare.