Free Republic

While many of the targeted federal agencies have offices outside Washington, Trump's dream budget would hit the region disproportionately, with tens of thousands of jobs at risk. The cuts would be felt throughout the city, with fewer people riding the already-beleaguered Metro subway or eating at restaurants. It would also hurt Washington's already-shaky market for office space. Economist Stephen Fuller of George Mason University, who has studied the regional economy for decades, estimated 20,000-24,000 federal employees and 10,000 federal contractors would lose their jobs under Trump's proposal. That equates to 5 percent of federal workers in the region. With those...

Caterpillar Inc. has announced the closing of its facility near Aurora, Illinois, and the lay off 800 workers. Earlier this year, the earth-moving equipment maker said it would lay off employees in 2017 because of an anticipated decline in demand for its products. Caterpillar spokeswoman Lisa Miller said Friday the large wheel loaders and compactor production will be moved to the company’s Decatur, Illinois, plant. Its medium wheel loader production line will be moved to the North Little Rock, Arkansas, plant. …

As we noted last summer, the Obama administration’s constant gun control threats did little more than flood American homes with more guns as people looked to stockpile weapons ahead of anticipated new regulations. In fact, both of Obama's elections resulted in massive and unprecedented spikes in gun sales. Meanwhile, Obama's presidency was a boon for the gun manufacturers whose revenue, profitability and stocks all soared during his presidency. But while the constant threat of new regulations under Obama resulted in a massive full forward of gun demand and pushed gun stocks to all-time highs, the election of Trump, and thus...

As hard as it will be to pass health insurance reform, tax reform, and infrastructure legislation, President Trump's toughest challenge will come in trying to cut the numbers of federal workers. Hard numbers are difficult to come by, but budget and government experts are calling the planned reductions in the federal workforce a "historic contraction" not seen since the drawdown after World War II.  Cabinet secretaries will have some leeway in how they reduce their departments' workforces.  Some may rely on the normal attrition that occurs in any workforce with retirements and vacancies created by promotions being responsible for...

ESPN will lay off some of the personalities who appear on TV, radio and online. The cuts will only affect "talent" -- not rank-and-file employees, according to sources familiar with the matter. The details are still being finalized, but layoffs are expected to take place through June.

President Trump.... wants to significantly cut the tax agency’s funding at a time when it has already been bleeding staff and struggling to keep up with a flood of returns ahead of Tax Day.... ...“This is an agency that has had every last drop squeezed out of it,” said Dennis J. Ventry Jr., a member of the I.R.S. advisory council and a law professor at the University of California, Davis. “I don’t know how it’s going to sustain itself.”.... ....The White House budget office has proposed a 14.1 percent cut to the I.R.S. for the fiscal year that begins in...

According to the Bureau of Labor Statistics union membership hit an all-time low in 2016 of just 10.7 percent. That decline has consequences for unions like the AFL-CIO, which Bloomberg reports is dismissing dozens of staff members: The AFL-CIO is dismissing dozens of staff members as part of a restructuring amid continuing declines in union membership and fresh political threats to labor rights. “We will have to end support for some programs that don’t go to our core priorities,” said AFL-CIO spokesman Josh Goldstein, who declined to discuss the number of staff affected. “This is about reimagining and realigning our...

NEW YORK — J.C. Penney said Friday that it will be closing anywhere from 130 to 140 stores as well as two distribution centers over the next several months as it aims to improve profitability in the era of online shopping. The closures represent about 13 percent to 14 percent of the department store operator's current store count, and less than 5 percent of total annual sales. The company said that it would also initiate a voluntary early retirement program for about 6,000 eligible employees.

When Philadelphia became the first US city to pass a soda tax last summer, city officials were eagerly looking forward to the surplus-tax funded windfall to plug gaping budget deficits (and, since this is Philadelphia, the occasional embezzlement scheme). Then, one month ago, after the tax went into effect on January 1st we showed the tax applied in practice: a receipt for a 10 pack of flavored water carried a 51% beverage tax. And since  PA has a sales tax of 6% and Philly already charges another 2%, the total sales tax was 8%. In other words, a purchase...

The Washington region’s prospects aren’t all bad under the Trump administration. A top local economist joked at a recent business conference that demonstrators flocking to rallies in the District will drop bundles of cash, spurring growth from “protest tourism.” But the area is bracing for shock at the hands of a reinvent-the-rules president who routinely insults the city and a Republican-led Congress that for years has sought to shrink the federal government that is the area’s principal employer. Officials and analysts expect sharp cuts in federal nondefense spending, which would strain local budgets nationwide and pose a particular threat to...

USA TODAY reports that downsizing at various Kellogg’s facilities across the country could put 1,110 Americans out of work. Kellogg’s spokesperson Kris Charles said the cereal giant will shift away from direct delivery of its foods to stores, and will instead utilize grocers’ distribution centers. The move will shutter 39 Kellogg’s distribution centers from Maryland to Ohio to New York. “While this is the right move for the company to achieve our long-term objectives, it was a difficult decision because of its impact on employees,” company spokesperson Kris Charles said, according to CNYCentral. Charles says each site outfits roughly 30...

Robert Sheridan is a 40-year-old GM worker who voted for Donald Trump. He can barely contain his excitement about Inauguration Day, even though it will be a rough day for him on a personal level. He's one of 2,000 GM factory workers losing their jobs on Friday, the same day that Trump will be sworn in as the 45th president. Sheridan -- and thousands like him -- are desperately hoping Trump will save their jobs. "Please help us in Lordstown," says Sheridan, a soft-spoken Midwesterner with three kids. "This is a great middle class job. You can't find one better...

Almost two-thirds of federal employees voted for Hillary Clinton during the presidential election, according to a new survey.The poll also found that six of 10 felt that the election itself gave Americans a negative impression of federal service.So it may come as no surprise that some federal employees are considering leaving their employment when President-elect Donald Trump assumes office. “More than one in four federal workers, or 28 percent, will definitely or possibly consider leaving their jobs after Jan. 20 when Trump is sworn into office and becomes leader of the executive branch,” according to the survey conducted by the...

The New York Times is warning its staff that budget cuts and staff reductions loom as the paper looks ahead to the future, according to a study by the outlet about how the newsroom will operate in the future. Dean Baquet, New York Times’ executive editor, and Joe Kahn, managing editor, said that the outlet’s transformation would require budget cuts and lead to a “smaller and more focused newsroom,” a move that will prompt buyouts and layoffs, which are expected this year. "We view this moment as a necessary re-positioning of The Times newsroom, not as a diminishment,” they said....

U.S. women's apparel chain The Limited filed for Chapter 11 bankruptcy protection on Tuesday after closing all 250 stores, the latest brick-and-mortar retailer to fall victim to changing tastes and online competitors. The retailer that began as a single store more than 50 years ago blamed declining mall traffic, falling sales, expensive leases and the shift toward online shopping. Retailers filing for bankruptcy in the past year include Aeropostale Inc (AROPQ.PK), Pacific Sunwear of California Inc (PSUN.MU), Sports Authority, Vestis Retail Group and American Apparel. In addition, department store chains such as Sears Holdings Corp (SHLD.O) and Macy's Inc (M.N)...

That's a shame. That newspaper had such a long history and they sold out their reputation to the highest bidder.

The stock market has been on quite a roll in recent weeks, but signs of trouble continue to plague the real economy. Earlier this week, I talked about the “retail apocalypse” that is sweeping America. Major retail chains such as Sears and Macy’s are closing stores and laying off workers, but I didn’t think that Wal-Mart would be feeling the pain as well. Unfortunately, that is precisely what is happening. USA Today is reporting that approximately 1,000 jobs will be cut at Wal-Mart’s corporate headquarters in Bentonville, Arkansas by the end of this month…

Walmart (WMT) , the country's largest private employer, plans to eliminate roughly 1,000 corporate jobs as it looks to boost its e-commerce business and trim costs. The jobs, mainly in the human resources department, will be cut before Jan. 31, as a result of increased e-commerce spending and rising employee wages, an anonymous executive told the Wall Street Journal. When contacted by TheStreet, Walmart declined in an email to comment on the job cuts but said the company has "not made any announcements" on its current corporate structure, adding "... we are always looking for ways to operate more efficiently...

The world-renown MD Anderson Cancer Center has announced a workforce reduction by 1,000, the CEO of the center said on Thursday. The cancer hospital has had $110 million in operating losses from September through November this year, reported the Houston Chronicle. [Snip] The local publication reported that the financial problems began in the spring when the hospital implemented a new electronic medical-record system. Doctors and staff members at the center spent a great deal of time getting up to speed in using the program and that took time away from their patients.

Macy’s says it is eliminating more than 10,000 jobs and plans to move forward with 68 store closures after a disappointing holiday shopping season. The department store chain also lowered its full-year earnings forecast. The retailer said Wednesday that sales at its established stores fell 2.1 percent in November and December compared to the same period last year. Macy’s Inc. pointed to changing consumer behavior and said its performance reflects the challenges that are facing much of the retail industry. As if to underscore that point, Kohl’s Corp. also reported disappointing holiday shopping numbers Wednesday. …