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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on January 26, 2010, 10:38:34 AM
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The Ticker
Job Cuts Get Brutal: Sprint, Pfizer, Home Depot, Caterpillar
Comment Print By Kirk Shinkle
Posted: January 26, 2009
The job loss tally so far today: 54,500. Cuts are coming across industries as further weakness in the economy keeps major employers slashing away.
On the same day it agreed to buy rival drugmaker Wyeth, Pfizer said it would cut 15 percent from its combined workforce (that's a bit less than 19,500 jobs). Meanwhile, Caterpillar is faring poorly in the global recession. It's cutting its workforce by 20,000 including 11 percent of its workforce, or 12,000 jobs, and 8,000 contractors. Home Depot, a lingering victim of the downturn in both consumer spending and housing, said it would slash another 7,000 jobs as it shutters its high-end EXPO business. And finally, Sprint Nextel is eliminating 14 percent of its workforce, or 8,000 jobs.
Update: Add another 6,000 to the tally above. Philips Electronics is cutting too.
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Hope & Change abound.
What did I warn you people would happen after the New Year?
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The Ticker
Job Cuts Get Brutal: Sprint, Pfizer, Home Depot, Caterpillar
Comment Print By Kirk Shinkle
Posted: January 26, 2009
The job loss tally so far today: 54,500. Cuts are coming across industries as further weakness in the economy keeps major employers slashing away.
On the same day it agreed to buy rival drugmaker Wyeth, Pfizer said it would cut 15 percent from its combined workforce (that's a bit less than 19,500 jobs). Meanwhile, Caterpillar is faring poorly in the global recession. It's cutting its workforce by 20,000 including 11 percent of its workforce, or 12,000 jobs, and 8,000 contractors. Home Depot, a lingering victim of the downturn in both consumer spending and housing, said it would slash another 7,000 jobs as it shutters its high-end EXPO business. And finally, Sprint Nextel is eliminating 14 percent of its workforce, or 8,000 jobs.
Update: Add another 6,000 to the tally above. Philips Electronics is cutting too.
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Hope & Change abound.
What did I warn you people would happen after the New Year?
Going as planned !
(http://www.foxnews.com/static/managed/img/Politics/012210_obiden_doomsday_604x341.jpg)
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Verizon to Cut More Than 10,000 Jobs After Sales Miss Estimates (Hope-n-Change!)
Business Week ^ | January 26, 2010, 10:01 AM EST | Amy Thomson
Posted on Tuesday, January 26, 2010 10:24:47 AM by tcrlaf
Verizon Communications Inc., the second-largest U.S. phone company, plans to cut more than 10,000 jobs at its fixed-line unit this year after posting fourth- quarter sales that missed analysts’ estimates.
The company plan to keep cuts at the same level as last year, when it reduced 13,000 positions, or about 9 percent of the unit’s workforce, Chief Financial Officer John Killian said on a conference call today. The business had about 117,000 workers at year-end.
Sales rose 9.9 percent to $27.1 billion, missing the $27.3 billion average of estimates compiled by Bloomberg. Revenue at Verizon’s fixed-line service dropped 3.9 percent, muting mobile- customer gains that beat some analysts’ projections. High unemployment hurt sales to companies and damped growth at Verizon’s FiOS Internet and TV service, said Christopher King, an analyst at Stifel Nicolaus & Co.
“The economy, first and foremost, we really see no signs of improvement there,” said Baltimore-based King, who advises investors to buy the shares and doesn’t own any. “I would have expected to see a little bit more signs of stabilization in the fourth quarter.”
(Excerpt) Read more at businessweek.com ...
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I warned everyone what was coming and was laughed at.
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oh great 2 huge pfizer plants in this town..more competition..great fucking news
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oh great 2 huge pfizer plants in this town..more competition..great fucking news
Learn how to do bankruptcy filings from home, or foreclosure filings, or crap like that and market to firm that you will work on a 1099 basis and you might find work.
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Remember when Obama said that that cattipilar plant would re-hire the laid off guys if they passed his awesome stimulous plan?Then they passed it and they not only didnt hire back the workers they laid off more and the guy in charge said Obama is a liar and that he never said that?I really hope he praises the stimulous at the state of the union speech.This man is doing this on purpose.These job losses are music to his huge ears.
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Remember when Obama said that that cattipilar plant would re-hire the laid off guys if they passed his awesome stimulous plan?Then they passed it and they not only didnt hire back the workers they laid off more and the guy in charge said Obama is a liar and that he never said that?I really hope he praises the stimulous at the state of the union speech.This man is doing this on purpose.These job losses are music to his huge ears.
That was another collossal flop he got away with.
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Learn how to do bankruptcy filings from home, or foreclosure filings, or crap like that and market to firm that you will work on a 1099 basis and you might find work.
listen I have been in touch with the foreclosure mediator at the courthouse among other things, I'm not sitting here playing with myself
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listen I have been in touch with the foreclosure mediator at the courthouse among other things, I'm not sitting here playing with myself
I know, I just saw your post and thought of some stuff. Also, if you can learn to do some AR control from you can get work.
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I know, I just saw your post and thought of some stuff. Also, if you can learn to do some AR control from you can get work.
well I have applied to banks (even teller positions), data entry everything under the sun..it sucks truely does..but yet this fucking government is giving Haiti all this fucking money. I'm luckier than most, my parents gifted me the house a few years ago with no mortgage. No car payment, no credit card debt. I get max unemployment so I am lucky in that aspect but still
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well I have applied to banks (even teller positions), data entry everything under the sun..it sucks truely does..but yet this fucking government is giving Haiti all this fucking money. I'm luckier than most, my parents gifted me the house a few years ago with no mortgage. No car payment, no credit card debt. I get max unemployment so I am lucky in that aspect but still
I would also look at possibly going into businesses as sort of a legal comptroller for a fee. Handle their account and AR management. I know it sucks ass, but you do what you have to.
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looks like it's time to go back to slangin.
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looks like it's time to go back to slangin.
Even the junkies are broke.
You can make more as a cop than a dealer.
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Dude that first article is a year old. ::)
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Even the junkies are broke.
You can make more as a cop than a dealer.
regardless a junkie will always be a junkie, if there is a will (or addiction) there is a way.
by them buying smaller amounts it just basically means that my profit will be higher. 8)
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Dude that first article is a year old. ::)
I realized that before it got posted but could not remocve it.
But the verizon cuts of 11,000, plus the walmart of 12,000 over the weekend are not. Thats 23,000 right there in two days.
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So companies that over expanded in a great economy, then realize they have to contract their size are somehow the govts problem? I mean go ahead bash the stimulus with actual issues but give me a freaking break. Walmart was expanding beyond itself and layoffs were only a matter of time. Verizon is in one of the most competitive markets in the country and with cable tv etc being a luxury this is a market correction not a govt initiated problem. The only way verizon etc are getting business is by offering cut throat deals with back loaded contracts. Their margins are so thin it's not funny. You expect a stimulus bill to fund cable tv now???
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So companies that over expanded in a great economy, then realize they have to contract their size are somehow the govts problem? I mean go ahead bash the stimulus with actual issues but give me a freaking break. Walmart was expanding beyond itself and layoffs were only a matter of time. Verizon is in one of the most competitive markets in the country and with cable tv etc being a luxury this is a market correction not a govt initiated problem. The only way verizon etc are getting business is by offering cut throat deals with back loaded contracts. Their margins are so thin it's not funny. You expect a stimulus bill to fund cable tv now???
The Stimulus was a heist of the taxpayer and fraud.
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The Stimulus was a heist of the taxpayer and fraud.
Fine whatever, that is your thoughts on this. But to post about two companies who were likely going to need layoffs is ridiculous don't you think? You talk all the time about letting the market correct itself. Isn't this exactly that with those companies? Or do you wish the govt gave them money too?
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Fine whatever, that is your thoughts on this. But to post about two companies who were likely going to need layoffs is ridiculous don't you think? You talk all the time about letting the market correct itself. Isn't this exactly that with those companies? Or do you wish the govt gave them money too?
No, we now have a TRILLION DOLLARS in debt added due to the phony stim bill.
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No, we now have a TRILLION DOLLARS in debt added due to the phony stim bill.
Fine but what does the walmart and verison layoffs have to do with that? Both were going to be necessary walmart wasn't going to grow forever and verizon is in one of the toughest markets having to offer cutthroat deals with minimal margins and backloaded contracts. the stimulus was suppose to allow walmart to keep growing and to allow americans to have more cable tv?? is that what you wanted?
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Fine but what does the walmart and verison layoffs have to do with that? Both were going to be necessary walmart wasn't going to grow forever and verizon is in one of the toughest markets having to offer cutthroat deals with minimal margins and backloaded contracts. the stimulus was suppose to allow walmart to keep growing and to allow americans to have more cable tv?? is that what you wanted?
It shows that despite the reidiculous spending of this admn, they have not done squat to help the economy, yet we the scmuck taxpayer are still stuck with the tab.
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It shows that despite the reidiculous spending of this admn, they have not done squat to help the economy, yet we the scmuck taxpayer are still stuck with the tab.
No it doesn't. It shows something i thought you supported. The correction of over stretched companies. Isn't this the scenario you wanted all along? I mean minus the stimulus of course but didn't you want layoffs and corrections right from the get go?
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No it doesn't. It shows something i thought you supported. The correction of over stretched companies. Isn't this the scenario you wanted all along? I mean minus the stimulus of course but didn't you want layoffs and corrections right from the get go?
tHEY WOULD NOT BE OVERSTRETCHED IF oBAMA WOULD DO SOMETHING GOOD.iF HE WOULD SAY no cap and trade,no health care ,payroll tax cuts are coming,capitol gains tax are here.If he would actually do something to help instead of doing everything he can to hurt things would get better instead of worse.If he and his stupid ass government would just get the hell out of the way things would improve.
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No it doesn't. It shows something i thought you supported. The correction of over stretched companies. Isn't this the scenario you wanted all along? I mean minus the stimulus of course but didn't you want layoffs and corrections right from the get go?
One difference KC, Obama added over a trillion in debt with no benefit whatsoever.
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well I have applied to banks (even teller positions), data entry everything under the sun..it sucks truely does..but yet this fucking government is giving Haiti all this fucking money. I'm luckier than most, my parents gifted me the house a few years ago with no mortgage. No car payment, no credit card debt. I get max unemployment so I am lucky in that aspect but still
With all due respect Haiti needs the money way more than you based on your statement......
''I'm luckier than most, my parents gifted me the house a few years ago with no mortgage. No car payment, no credit card debt. I get max unemployment so I am lucky in that aspect''
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tHEY WOULD NOT BE OVERSTRETCHED IF oBAMA WOULD DO SOMETHING GOOD.iF HE WOULD SAY no cap and trade,no health care ,payroll tax cuts are coming,capitol gains tax are here.If he would actually do something to help instead of doing everything he can to hurt things would get better instead of worse.If he and his stupid ass government would just get the hell out of the way things would improve.
Walmart and Verizon would still be over stretched or in trouble. These job losses have nothing to do with taxes. You can't cut taxes to take away from a company that has overinflated or is losing business in a competitive market. that is the nature of business is it not? or should the govt always accommodate losing business as best it can? If that is your stance you must be glad about the GM take over.
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With all due respect Haiti needs the money way more than you based on your statement......
''I'm luckier than most, my parents gifted me the house a few years ago with no mortgage. No car payment, no credit card debt. I get max unemployment so I am lucky in that aspect''
Not only that if she's so frustrated with her job prospects and has no mortgage, car payment or otherwise debt GO THE FUCK BACK TO SCHOOL and quit wasting time and energy on getbig. My god Americans are some of the biggest pity sponges around.
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One difference KC, Obama added over a trillion in debt with no benefit whatsoever.
Like i said stimulus aside, isn't this what you wanted all along? Market correction? Answer that without this (one difference BS). I've already stated stimulus aside isn't this what you wanted for the country, no govt stimulus and a market correction?
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Walmart and Verizon would still be over stretched or in trouble. These job losses have nothing to do with taxes. You can't cut taxes to take away from a company that has overinflated or is losing business in a competitive market. that is the nature of business is it not? or should the govt always accommodate losing business as best it can? If that is your stance you must be glad about the GM take over.
I agree with this.... simply put, you need to charge people less in a troubled economy and pay workers reasonably good and your business will do better.
You know what Walmart pays the guys who works on cars? (oil changes,tires) Barely $10 bucks an hour? Maybe, and how much is Walmart making off that one car that needs new tires?
Verizon and Sprint are the same way. They have high ass phone bills all the time and are in stiff competition with other companies that offer the same things but cheaper...Why are people doing bad? Cause big execs are greedy.
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I agree with this.... simply put, you need to charge people less in a troubled economy and pay workers reasonably good and your business will do better.
You know what Walmart pays the guys who works on cars? (oil changes,tires) Barely $10 bucks an hour? Maybe, and how much is Walmart making off that one car that needs new tires?
Verizon and Sprint are the same way. They have high ass phone bills all the time and are in stiff competition with other companies that offer the same things but cheaper...Why are people doing bad? Cause big execs are greedy.
Thats how companies sell things.WE WANT low prices on things.The big problem in this country is people make to much money doing bullshit jobs.Union idiots have bankrupted company after company because unskilled nit wits makke 30.00 and hour turning a freaking screw.Now,greedy execs are not the problem,dumb ass government regulation is the problem,taxes are the problem,rules put into private buisiness is the problem,power hungry little community organisers are the problem."Greedy execs" make this country work,they hire people,create jobs,government is the albotrose around EVERYONES neck strangling the creativity and incentive of Americans.
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I agree with this.... simply put, you need to charge people less in a troubled economy and pay workers reasonably good and your business will do better.
You know what Walmart pays the guys who works on cars? (oil changes,tires) Barely $10 bucks an hour? Maybe, and how much is Walmart making off that one car that needs new tires?
Verizon and Sprint are the same way. They have high ass phone bills all the time and are in stiff competition with other companies that offer the same things but cheaper...Why are people doing bad? Cause big execs are greedy.
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Unreal. Dude, seriously, read a damn econ 101 book for fucks' sake.
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Unreal. Dude, seriously, read a damn econ 101 book for fucks' sake.
I guess the constant drumbeat of classwarfare is having the desired effect
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I guess the constant drumbeat of classwarfare is having the desired effect
The level of economic ignornace displayed by KC an this other guy is pathetic.
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The level of economic ignornace displayed by KC an this other guy is pathetic.
where i have displayed ignorance 333? Walmart was growing far too big for it's own good. it had to downsize this is economics at it's simplest is it not? You still didn't answer my question BTW. not scared are you?
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where i have displayed ignorance 333? Walmart was growing far too big for it's own good. it had to downsize this is economics at it's simplest is it not? You still didn't answer my question BTW. not scared are you?
They are laying people off because the economy is racing off a cliff and there is no improvement whatsoever, despite the TRILLIONS spent on utter garbage by the government. Same with verizon, same with Walmart, and the same with almost every other company in the nation who sees that this government is doing a horrible job on every level.
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They are laying people off because the economy is racing off a cliff and there is no improvement whatsoever, despite the TRILLIONS spent on utter garbage by the government. Same with verizon, same with Walmart, and the same with almost every other company in the nation who sees that this government is doing a horrible job on every level.
But were you or were you not for a market correction and not for govt interference? Isn't this the scenario you wanted all along? I mean minus the stimulus of course but didn't you want layoffs and corrections right from the get go?
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But were you or were you not for a market correction and not for govt interference? Isn't this the scenario you wanted all along? I mean minus the stimulus of course but didn't you want layoffs and corrections right from the get go?
Yes, and what dont you understand that we placed trillions of debt on top of the already bad situation that amounts to a massive future tax increase, massive fututre inflation, and/or no possibility of recovery? Do you not understand the impact of adding further debt at a time like this on wasteful govt spending? Of course you dont.
Obama went on his little spending spree and we have nothing to show for it other than debt, a devalued dollar, continued increase in UE, and no recovery whatsoever in sight.
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Not only that if she's so frustrated with her job prospects and has no mortgage, car payment or otherwise debt GO THE FUCK BACK TO SCHOOL and quit wasting time and energy on getbig. My god Americans are some of the biggest pity sponges around.
hey nitwit..I have 2 degrees, why the fuck go back to school..A, would have to get a loan..HELLO I dont want any debt or B do a student loan no thanks..Im not looking nor want pitty..
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and the Haiti comment was not geared towards myself, but there are plenty of americans with mortgages, credit debt, student loans, college tuition for their kids, so on and so forth..yet they are not making it..DUH..god some of you ass munchers that lift weight are fucking retards
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YO Mama if youre really hard up for a job try Tax service companies they are all pretty strapped for personnel right now with tax season about to hop into full swing.
Im pretty much in the same boat I have a degree but cant get a job and Im back in school at nights trying to get into an MBA program. I too applied for EVERY FREAKING JOB under the sun that I thought might help me get to where I wanted to go without avail. I got on with H&R block but only as a customer service rep but they have really good benefits for their employees and you can take their tax courses for 20 bucks.
Just a thought hope it helps
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Yes, and what dont you understand that we placed trillions of debt on top of the already bad situation that amounts to a massive future tax increase, massive fututre inflation, and/or no possibility of recovery? Do you not understand the impact of adding further debt at a time like this on wasteful govt spending? Of course you dont.
Obama went on his little spending spree and we have nothing to show for it other than debt, a devalued dollar, continued increase in UE, and no recovery whatsoever in sight.
Except those points have no relation to the Verizon and Walmart layoffs. His point is that- ONCE AGAIN- you are using a totally unrelated even that, theoretically, you should be supporting to blast Obama. This is a habit for you, at least the second time you've done this today. In none of your subsequent posts have you shown that he was incorrect, or even supported your initial point.
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YO Mama if youre really hard up for a job try Tax service companies they are all pretty strapped for personnel right now with tax season about to hop into full swing.
Im pretty much in the same boat I have a degree but cant get a job and Im back in school at nights trying to get into an MBA program. I too applied for EVERY FREAKING JOB under the sun that I thought might help me get to where I wanted to go without avail. I got on with H&R block but only as a customer service rep but they have really good benefits for their employees and you can take their tax courses for 20 bucks.
Just a thought hope it helps
MBA? That's the stupidest thing you can do right now. If you were any good at business you'd be running your own or working for a company instead of going back to school listening to someone else tell you how to be a businessman.
And for newmom how the fuck do you have two degrees and still not be able to find a job? Doesn't sound like you have very valuable degrees if you are applying for adminstrative jobs. Did you get them in ceramics and psychology or something?
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The level of economic ignornace displayed by KC an this other guyBig man is pathetic.
Listen 333333trillion86 I'm a realist and see stuff for what it is. You sound like a person who can't handle the truth.
Bottom line is people up top got greedy. Giving a .25cent raise when gas is 4 bucks is not going to cut it. (I'm not going to even talk oil...(Bush)
You think that type of stuff doesn't hurt the economy, wrong. Put the money in the consumers hands and they will buy and keep the money circulating. Now everyone is scared crazy to spend a dime and saving-thus no money circulating.
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Thats how companies sell things.WE WANT low prices on things.The big problem in this country is people make to much money doing bullshit jobs.Union idiots have bankrupted company after company because unskilled nit wits makke 30.00 and hour turning a freaking screw.Now,greedy execs are not the problem,dumb ass government regulation is the problem,taxes are the problem,rules put into private buisiness is the problem,power hungry little community organisers are the problem."Greedy execs" make this country work,they hire people,create jobs,government is the albotrose around EVERYONES neck strangling the creativity and incentive of Americans.
You have a good point. I don't think either one of us are wrong
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Except those points have no relation to the Verizon and Walmart layoffs. His point is that- ONCE AGAIN- you are using a totally unrelated even that, theoretically, you should be supporting to blast Obama. This is a habit for you, at least the second time you've done this today. In none of your subsequent posts have you shown that he was incorrect, or even supported your initial point.
Nonsense Al. Utter nonsense. Companies look forward not backward and see absolutely no recovery whatsoever DESPITE the trillions spent. You know why Al:
1. The money went to the wrong sources, AS MANY OF US SAID FROM DAY ONE!
2. Companies will not hire anyone with the prospect of massive tax hikes looming.
3. Companies know that their customers will not have any money to spend on their products because the government is devaluing the dollar and taxing us out the yin yang.
There was the CEO of one of the largest employment agencies in the country on CNBC this morning and he said the No 1 issue right now why companies wont hire is/are the looming tax hikes, stupid govt regulations, cap & trade, etc.
You cant blame that on Bush.
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MBA? That's the stupidest thing you can do right now. If you were any good at business you'd be running your own or working for a company instead of going back to school listening to someone else tell you how to be a businessman.
And for newmom how the fuck do you have two degrees and still not be able to find a job? Doesn't sound like you have very valuable degrees if you are applying for adminstrative jobs. Did you get them in ceramics and psychology or something?
Paralegal degree and Associates in Criminal Justice
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Paralegal degree and Associates in Criminal Justice
What about doing legal billing from home?
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Yes, and what dont you understand that we placed trillions of debt on top of the already bad situation that amounts to a massive future tax increase, massive fututre inflation, and/or no possibility of recovery? Do you not understand the impact of adding further debt at a time like this on wasteful govt spending? Of course you dont.
Obama went on his little spending spree and we have nothing to show for it other than debt, a devalued dollar, continued increase in UE, and no recovery whatsoever in sight.
Thats your view and that's fine. I still stand by that this bill (whilst filled with pork) can not be truly judged until 5-10 years from now whether it is a failure or success.
My point is though 333 you're blaming Obama and the govt for something you wanted all along. Market correction. Do you not see the double standard there? On one hand bashing Obama for the stimulus, on the other bashing Obama for business's that would have had to make this correction stimulus or not.
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MBA? That's the stupidest thing you can do right now. If you were any good at business you'd be running your own or working for a company instead of going back to school listening to someone else tell you how to be a businessman.
And for newmom how the fuck do you have two degrees and still not be able to find a job? Doesn't sound like you have very valuable degrees if you are applying for adminstrative jobs. Did you get them in ceramics and psychology or something?
I don't think any education is 'wrong' an MBA is a great avenue but it should hopefully be from a reputable school so as to be of good use in the job hunt. Good luck Tony and hey it could be worse you could be wiping sh*t like McMannus here ;D
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I don't think any education is 'wrong' an MBA is a great avenue but it should hopefully be from a reputable school so as to be of good use in the job hunt. Good luck Tony and hey it could be worse you could be wiping sh*t like McMannus here ;D
The best thing IMHO is to get on a local FD and just hang out.
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So companies that over expanded in a great economy, then realize they have to contract their size are somehow the govts problem? I mean go ahead bash the stimulus with actual issues but give me a freaking break. Walmart was expanding beyond itself and layoffs were only a matter of time. Verizon is in one of the most competitive markets in the country and with cable tv etc being a luxury this is a market correction not a govt initiated problem. The only way verizon etc are getting business is by offering cut throat deals with back loaded contracts. Their margins are so thin it's not funny. You expect a stimulus bill to fund cable tv now???
It shouldnt take two years to get rid of those excesses.