Job losses tally 54,000 today alone.

[Soul Crusher]

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.

________________________ ________________________ ________________________

Hope & Change abound. 

What did I warn you people would happen after the New Year? 

[James]

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.

________________________ ________________________ ________________________

Hope & Change abound.

What did I warn you people would happen after the New Year?  

Going as planned !

[Soul Crusher]

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 ...

________________________ ________________________ _______-----

I warned everyone what was coming and was laughed at. 

[newmom]

oh great 2 huge pfizer plants in this town..more competition..great fucking news

[Soul Crusher]

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. 

[BM OUT]

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.

[Soul Crusher]

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. 

[newmom]

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

[Soul Crusher]

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. 

[newmom]

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

[Soul Crusher]

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. 

[saopl]

looks like it's time to go back to slangin.

[Soul Crusher]

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. 

[MuscleMcMannus]

Dude that first article is a year old. 

[saopl]

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.  

[Soul Crusher]

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.   

 

[kcballer]

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???

[Soul Crusher]

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. 

[kcballer]

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? 

[Soul Crusher]

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.

[kcballer]

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?

[Soul Crusher]

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. 

[kcballer]

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?

[BM OUT]

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.

[Soul Crusher]

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.