Wednesday, November 7, 2012

Here Comes The Layoffs

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 letterhttp://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.

Read more here: http://www.kentucky.com/2012/11/07/2398967/brake-company-in-stanford-laying.html#storylink=cpy

3 comments:

  1. 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.

    I call "un-American jackass" on any employer laying off people the day after election day. It's preposterous.

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  2. For all of you Obama voters you have destroyed our country. Shame on you.

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  3. It's not the economy per se, it's the ObamaCare bill and the insurance problems that are headed this way.
    You 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.

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