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Keyword: unemployment

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  • Twinkie Party: The Loss of 18,000 Hostess Jobs Is All a Big Joke to ABC News

    11/16/2012 9:56:40 AM PST · by chessplayer · 114 replies
    The cast of Good Morning America on Friday treated the bankruptcy of Hostess and the loss of 18,500 jobs as a hilarious joke. Josh Elliott, George Stephanopoulos and others guffawed as they handed out Twinkies and ate them on set.
  • The Demise Of The Twinkie: Hostess Files Motion To Liquidate

    11/16/2012 5:13:37 AM PST · by Sub-Driver · 300 replies
    The Demise Of The Twinkie: Hostess Files Motion To Liquidate By Tom Gara And that’s that: Hostess Brands, maker of Twinkies, Wonder Bread and more, announced this morning it has filed a motion with bankruptcy court to start liquidating the company immediately. A huge number of jobs are soon to be lost. “Hostess Brands will move promptly to lay off most of its 18,500-member workforce,” said CEO Gregory F. Rayburn in the statement, “and focus on selling its assets to the highest bidders.” In a letter posted on a new site set up to communicate with employees and suppliers through...
  • Obama RX: Bleeding an Anemic Economy with Tax Increases

    11/16/2012 8:33:59 AM PST · by Kaslin · 13 replies
    Townhall.com ^ | November 16, 2012 | Donald Lambro
    WASHINGTON - If you thought the presidential election would lead to an early break in the fiscal gridlock that now divides our government, think again. President Obama's post-election press conference on Wednesday signaled he is digging in for a lengthy political battle to raise tax rates amid new evidence the economy is still very weak and will likely remain so for the foreseeable future if not throughout his second term. If anything, he's taking a tougher tone with Republicans in Congress as he prepares for negotiations with House Speaker John Boehner and other House and Senate leaders on Friday. Despite...
  • Xerox will lay off 2,500 employees

    11/15/2012 8:45:32 PM PST · by knak · 26 replies
    WXXI news ^ | 11/14/12 | crichton
    Xerox announced today they will lay off 2,500 workers world wide. This comes as a result of the company taking a $100 million charge to enable restructuring in the fourth quarter. The majority of cuts will be in the service side of the Xerox business, despite a growth in this section for the company. Services now account for more than half of Xerox's revenue. Employment in Rochester is primarily centered on the technology side of the business, or the company's legacy side, Xeroc officials say. No details have been released on the impact of any reductions in the Rochester area.
  • Harry Reid: Regulations have nothing to do with killing jobs

    11/15/2012 6:09:04 PM PST · by SeekAndFind · 64 replies
    Hotair ^ | 11/15/2012 | Mary Katherine Ham
    Sen. Harry Reid, in a floor speech Tuesday: Republicans "have yet to produce a single shred of evidence that the regulations they hate so much do the broad economic harms they claim. That's because there is none," said Reid, the Senate majority leader from Nevada.In a Senate speech, Reid said the Bureau of Labor Statistics has concluded "only a tiny fraction of layoffs have anything at all to do with tighter regulation.""Last year, only three-tenths of 1 percent of people who lost their jobs were let go principally because of government regulation or intervention," Reid said. "On the other hand,...
  • Banks told by Fed to test for 12% unemployment

    11/15/2012 3:47:54 PM PST · by Obadiah · 30 replies
    Market Watch ^ | 11/15/2012 | Ronald D. Orol
    The Federal Reserve is asking 30 big banks to make sure their capital can withstand a deep recession in which the unemployment rate rises to 12%. The Fed, which first required big banks to conduct “stress tests” in 2009, laid out three scenarios lenders have to test against. The goal is to ensure that the firms have enough capital to continue operations during stressful economic times.
  • Why The U.S. Job Market Remains Terribly Bleak

    11/15/2012 2:33:25 PM PST · by SeekAndFind · 12 replies
    Forbes ^ | 11/15/2012 | John Goodman
    Full time work is about to get scarcer. The reason? By hiring part-time workers who put in less than 30 hours per week, employers can avoid a mandate dictated by the new health reform law: either provide expensive health insurance or pay a fine equal to $2,000 per worker. Avoiding the mandate becomes even more attractive for low-wage employees, since they can get highly subsidized insurance in the newly created health insurance exchanges. Clearly the Affordable Care Act (ObamaCare) is a major factor holding back economic recovery. But it’s not alone. Other public policies enacted during the Obama administration’s first...
  • Smithfield Plant to Layoff Workers in 2013 (520 jobs in Virginia)

    11/15/2012 2:16:45 PM PST · by 2ndDivisionVet · 16 replies
    Wisconsin Ag Connection ^ | November 15, 2012
    USAgNet - Smithfield Packing Company Inc., a subsidiary of Smithfield Foods, plans to begin its planned closure of a Portsmouth, Va. hot dog and lunch meat production facility. MeatPoultry reports that the firm announced the closure this past November. Layoffs are expected to begin at the Portsmouth plant in January, and the facility will be closed by the end of March 2013. The company says its first round of layoffs will impact about 120 workers. Another 400 employees will be affected by the plant closure....
  • Initial Claims Soar To 439K, Non-Seasonally Adjusted Surge By Whopping 104,548 In One Week

    11/15/2012 6:13:43 AM PST · by Perdogg · 16 replies
    Get ready for the "it's all Sandy's fault" barrage, because the post-reelection status quo sure will desperately need it today. The latest initial claims data posted a multi-year high 104,548 surge in weekly NSA claims from 361,800 to 466,348, and even the Seasonally adjusted number soaring from 361K to 439K on expectations of a 375K print. In other words, a complete disaster for any economic data bulls. What is truly amusing is that the same Wall Street "experts" who set expectations were unable to foresee the Sandy effect that every "macrotourist" on Twitter apparently is so very aware of. Also,...
  • The Hopium Is Now Depleted

    11/15/2012 6:57:19 AM PST · by Pride_of_the_Bluegrass · 11 replies
    Zero Hedge ^ | 11-15-2012 | Tyler Durden
    Hope - it appears - peaked at the start of the year in the US, following the global coordinated central bank pump which ramped it from lows to highs within a few months. All that hope - and then some - has now apparently faded. The General Business Conditions expected six months forward dropped to its lowest level since March 2009. What is perhaps worse, given the focus on jobs jobs jobs, is that for the first time since April 2009, the employment outlook for employment turned negative - suggesting firms are looking to reduce employees at the fastest rate...
  • Update: Wake Forest Baptist Medical Center to cut 950 jobs

    11/14/2012 4:09:32 PM PST · by 2ndDivisionVet · 10 replies
    WINSTON-SALEM — Wake Forest Baptist Medical Center will lay off 76 employees this week and cut a total of 950 jobs by the end of next June, the center's chief executive said today. Dr. John McConnell said most of the cuts are administrative positions, but some faculty members could lose their jobs due to cuts in federal research funding. He also said 2012-13 revenue is being affected by "deep cuts in Medicare and Medicaid payments, which constitute nearly half of our health-care reimbursements."(continued)
  • Texas Instruments to lay off 1,700

    11/14/2012 4:00:19 PM PST · by 2ndDivisionVet · 3 replies
    CNN Money ^ | November 14, 2012 | David Goldman
    Chipmaker Texas Instruments said Wednesday that it will lay off 1,700 workers in an effort to shift focus away from its struggling mobile business. The job cuts represent about 5% of TI's staff, and they are part of a previously announced restructuring initiative aimed at cutting costs and increasing its presence in the burgeoning embedded device market. Shares of Texas Instruments rose about 1% in afterhours trading. The Dallas-based company had made some headway in the smartphone market a few years ago. But recently the biggest mobile phone makers, including Samsung and Apple have opted to design their own chips...
  • Pierce Manufacturing begins its Bradenton layoffs

    11/14/2012 2:38:20 AM PST · by 2ndDivisionVet · 7 replies
    The Bradenton Herald ^ | November 14, 2012 | Josh Salman
    BRADENTON -- Workers targeted in the area's largest single round of layoffs in more than a decade have begun this month to hit the unemployment rolls. The first wave of job cuts in what will eventually grow to 325 are now underway at Pierce Manufacturing in Bradenton, an Oshkosh subsidiary that earlier this year announced plans to discontinue its ambulance line just 18 months after the operation was moved to Florida. The maker of emergency response vehicles has let go some of its contracted workers in a process that will continue through early next year with many full-time laborers when...
  • Aetna CEO Warns of Corporate Layoffs Unless Debt Deal Is Struck

    11/13/2012 4:27:30 AM PST · by 2ndDivisionVet · 6 replies
    Fox Business News ^ | November 12, 2012
    Aetna Inc. Chief Executive Mark Bertolini, who is among a dozen chief executives meeting with U.S. President Barack Obama later this week, on Monday warned that companies are preparing backup plans that include layoffs if the White House and congressional leaders are unable to reach a deal to avoid the combination of tax increases and spending cuts known as the "fiscal cliff." "The American people are going to suffer because we'll lay them off--because we know how to respond to these kinds of situations," Mr. Bertolini warned at a Wall Street Journal CEO Council event. The comments come seven weeks...
  • With Obamacare now a reality, employers choose strategies

    11/12/2012 8:01:11 AM PST · by Nachum · 11 replies
    Chicago Sun Times ^ | 11/12/2012 | KARA SPAK
    Obamacare’s coming. Love it or hate it, President Barack Obama’s re-election Tuesday cleared the last major hurdle toward implementing the Patient Protection and Affordable Care Act. Businesses are being forced to take a fast and hard look at how to handle the shift in health-care benefits and potential costs that are part of the law that goes fully into effect in 14 months. “This is here to stay,” said J.D. Piro, a senior vice president at Aon Hewitt who leads the company’s health law consulting group. “I’ve been saying for a couple of years this is by and large an...
  • Applebee’s CEO Announces Hiring Freeze And Layoffs Over Obamacare, Boycott Threatened

    11/11/2012 1:41:55 PM PST · by 2ndDivisionVet · 54 replies
    The Inquisitr ^ | November 11, 2012 | H. Scott English
    The CEO of a huge New York Applebees franchise decided to join fellow fast food CEO John Shattner of Papa John’s in saying that he will layoff workers and stop hiring new ones if the Affordable Care Act, also known as Obamacare, is implemented. Applebees franchise owner Zane Tankel, announced his plans almost immediately after President Obama’s reelection. The Twitterverse immediately went crazy with plans for boycotts. One tweet read: “So far I’ve seen Papa John’s and Applebees threatening to fire people since their choice didn’t win the election. Disgusting on either side.” Others said: “BOYCOTT APPLEBEES NOW.” “Add @Applebees...
  • Website for layoffs, company closings

    11/11/2012 12:52:35 PM PST · by KeyLargo · 25 replies
    I found this website for future reference. Are there any other sites where we can find and keep tabs on all of the coming layoffs, plant closings, and shifts to part-time employees from full time due to the Obama economic policies ? Dailyjobcuts.com http://www.dailyjobcuts.com/
  • The Real Reason Obama Got Elected ("Freebie" Nation)

    11/11/2012 5:48:20 AM PST · by tobyhill · 36 replies
    fox news ^ | 11/8/2012 | Gerri Willis
    Here’s an interesting plot twister; Republicans made the assumption, incorrectly as it turns out, that voters in states with high-unemployment would kick the bums out. That is, that they’d vote Obama out of office and try to find someone who could solve the jobs problem in this country. Turns out, the opposite has happened. Voters in high-unemployment states actually like the president, and the reason is obvious; the Federal Government is paying the jobless, extending unemployment benefits, food stamps, and even underwriting disability payments from Social Security. Think we’re different from the Europeans? Think again. The proportion of Greek men...
  • Share This Massive List Of Post-Election Firings And Layoffs With Everyone You Can

    11/11/2012 6:16:21 AM PST · by SeekAndFind · 26 replies
    The Economic Collapse Blog ^ | 11/10/2012 | Michael Snyder
    By Michael, on November 9th, 2012 The victory by Barack Obama on election night has resulted in a huge wave of firings and layoffs all over America. A large number of businesses seem to have suddenly shifted into panic mode. The number of layoff announcements that we have seen in the last 48 hours has been absolutely shocking. So why is this happening? Well, the truth is that the federal government is absolutely suffocating small businesses all over America with rules, regulations and taxes. If you have never tried to run a small business, then you have no idea...
  • Bankrupt Bakers Footwear liquidating 21 Los Angeles-area stores (150 altogether)

    11/11/2012 4:11:50 AM PST · by 2ndDivisionVet · 9 replies
    The Los Angeles Daily News ^ | November 9, 2012 | Gregory J. Wilcox, Staff Writer
    Bankrupt Bakers Footwear Group on Friday began liquidating 150 stores across the country, including 21 in the Los Angeles area. The St. Louis-based company's stores are being liquidated by Tiger Capital Group and SB Capital Group and the process should be completed by year's end. Stores being closed have about $30 million in inventory, the companies said in a statement. There are 33 stores in California. The going-out-of-business sales involve 70 percent of the group's Bakers and Wild Pair mall-based stores, which are familiar to shoppers throughout Los Angeles and Orange counties. Bakers Footwear Group sells a private-label and national-brand...