America and the world has not seen anything, yet.
Posted on 12/30/2012 1:08:11 PM PST by SeekAndFind
Planned layoffs at U.S. firms rose for the third month in a row in November, partly driven by the bankruptcy of Hostess Brands, a report showed on Thursday.
Employers announced 57,081 job cuts last month, the highest level since May and up nearly 20 percent from 47,724 in October, according to the report from consultants Challenger, Gray & Christmas, Inc.
November's job cuts were also up 34.4 percent from the 42,474 seen a year ago.
Employers have announced 490,806 cuts in 2012, lower than 2011's total of 606,082 layoffs.
The recent surge in layoffs is at least partly attributed to the bankruptcy of Twinkies maker Hostess in November. That accounted for 18,500 of the jobs lost. The computer industry, which has led layoffs for the year, cut 3,313 jobs last month.
"Job cuts this year have really been driven by a handful of large-scale cuts," Rick Cobb, executive vice president of Challenger, Gray & Christmas, said in a statement.
The Christmas holidays does not necessarily offer respite, Cobb said, pointing to the 11,000 job cuts that Citigroup announced as an example.
The Citigroup job cuts were part of a larger bloodbath taking place on Wall Street in 2011 and 2012. According to Bloomberg Businessweek, Wall Street eliminated some 300,000 financial services jobs in the last two years. And experts predict that more layoffs on Wall Street will be coming in 2013.
"The knives are sharpened and ready," Jason Kennedy, chief executive officer of London-based search firm Kennedy Group, told Businessweek. "...Unless the markets pick up, there will be more cuts in the first half."
The Challenger report comes a day ahead of the key U.S. jobs report, which is forecast to show job growth slowed sharply in November in the wake of superstorm Sandy.
(Excerpt) Read more at jobs.aol.com ...
I had to read the article twice, to see if I could find the word “unexpectedly”. I didn’t find it, guess the term only appears in gubmint releases.
I know tomorrow, several NFL coaches are going to be added to the ranks of the unemployed.
Unexpected, I'm sure ..... it seems the future isn't as rosy as folks were lead to believe. /sarc
I could swear I remember Obozo saying in the debates with respect to sequestration:
“That just isn’t going to happen”
Such short memory the MSM has...
Sh**, it's hardly begun.
America, you voted for it.
-——bankruptcy of Twinkies maker Hostess ———
Actually, The business was forced to close it’s doors via bankruptcy because of their intractable despicable union.
The jobs were lost to convey union spite. The union cut off it’s nose to spite it’s face
12/31/12 will be the day many businesses will close that:
* Can't make it anymore as a going forward business.
* They are throwing in the towel after trying to make it the last 4 years and had enough of low margins and working for nothing.
* Can't handle the addition burdon of Obamacare, and that becomes another reason to close it down.
Oh, I think a lot of them have figured it out.
As long as their gravy train keeps rolling, they will continue to vote for it. When it runs of the rails (which they don't think will happen), they will just blame somebody else but it will not be the ones actually driving the train.
They have not figured that out yet. They likely never will. "Fools" and "useful idiots" comes to mind. They are why tyranny and state sanctioned mass murder are more the norm than the exception.
The Obama plan is working.
Not really, almost all have multi-year contracts.
They’ll collect more $$ next year sitting on the beach drinking cocktails than most FReepers will make in the next 10 or 20 years combined.
America and the world has not seen anything, yet.
We need to endlessly point out to them that Romney and a Republican controlled house and senate could have prevented the brick wall we are about to slam into. That Job Killing Brick wall is ObamaUncare.
You notice that part of the blurp didn't say a thing about the elections playing a major role? Hmmmmmmm, wonder what they're trying to cover up.
The old question, which is no longer valid, was “What is the unemployment rate?” The new question should be “What percentage of adults has full time employment?”
My employer had voluntary layoffs and retirements in November and December. They said before we left there could be further cuts in January after the holidays if the Fiscal Cliff goes into effect.
Isn’t that number in the high 50s now?
Not to mention local and state fire and police agencies that rely on federal and state grants for funding.
Obama, on reading this report, said “Yes I did!”
Hopefully some of the great unwashed, uneducated laid-off workers will finally wake up and realize that Obama never gave a damn about them, only their vote, and after Nov. 6th, it was “Fuck off, peasants, I don’t need you anymore”.
See, Obama is spreading the pain evenly, called “pain redistribution”. What a guy!
Add obamacare to the list of reasons for layoffs
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