Monday, May 26, 2008

LLNL layoffs continue


Written by Danielle MacMurchy / Tracy Press
Friday, 23 May 2008



More than 400 workers are laid off from the Lawrence Livermore lab as a budget crunch squeezes the research facility.

Lawrence Livermore National Laboratory handed out 440 pink slips to employees Thursday and Friday, and about 100 temporary workers will be cut next month due to a $280 million budget crunch that the nuclear weapons research lab has felt since November.

More than 100 of the laid-off employees are engineers and scientists with more than 10 years of service.

The lab had a workforce of 8,800 employees just 2½ years ago, but that has shrunk to about 6,800 through attrition, retirements and layoffs.

In January, the lab laid off 500 employees who were part of what the lab calls its "flexible force," and in March it asked for employees to "voluntarily separate" from the lab, according to lab spokeswoman Susan Houghton.

About 200 agreed to leave in exchange for severance packages.

Every cut employee will receive one week’s pay for each year he or she worked with the lab. In addition, scientists and engineers who worked 10 or more years at the lab will have an option to either telecommute or continue to work on the Livermore campus on special projects until an extended severance package is up.

"It’s a way to help them transition into what’s an unfortunate situation," Houghton said Friday.

She added that this is the last leg of layoffs to make up for the budget shortfall, which she said stems from inflation, employee health care costs, retirement costs and taxes, which the lab must now pay since transitioning from public to private management under a consortium led by Bechtel Inc.

Also, the U.S. Department of Energy OK’d about $100 million less for the lab in its 2008 operating budget than in 2007, Houghton said.

The lab will open a resource center Tuesday to help cut employees get back on their feet. The center will stay open through September to offer resume building workshops, job training and career advice.

"We’re doing everything we can to help our employees adjust to this situation and try to find a new job," Houghton said.

The lab opened in 1952 as an operation of the U.S. Department of Energy.

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First-quarter extended mass layoffs essentially unchanged from 2007


In the first quarter of 2008, there were 1,111 mass layoff events that resulted in the separation of 188,326 workers from their jobs for at least 31 days, according to preliminary figures released on May 15 by the Bureau of Labor Statistics. A strike at a transportation equipment manufacturer was a contributing factor in 31 extended layoff events, affecting 19,887 workers at other firms.

The total number of layoff events was essentially unchanged from the January-March 2007 time period, while the number of associated separations was lower. First quarter 2008 layoff data are preliminary and are subject to revision.

Among the 7 categories of economic reasons for layoff, business demand accounted for the highest share of events (47 percent) and number of separations (79,358) in January-March 2008. Layoff activity attributed to business demand factors increased from the same period in 2007, when these reasons were cited in 39 percent of layoff events and involved 62,693 laid-off workers.

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JPMorgan: Viva* Los Layoffs


It seems like all we ever hear about is what a nice guy Jamie Dimon is, and how he's a "giant among midgets" and his souvlaki is out of this world, but the direction he's taking Bearpont Morgan Chase** is deeply disturbing and very much brings his judgment into question.


Not two weeks ago JPMorgan's head of Latin American Credit, along with four MD's and one ED were laid off for reasons related to "cost cutting and expenses." Today we're told that a JPM director paid a visit to 383 Madison this morning to fire all but two analysts from Bear's Latam Research division, telling the peasants, "As you probably realize, we cannot take you on and as you may or may not be aware, JPMorgan decided to keep the headcount the same as before the merger. So now, you are free to look for other jobs." Obviously we knew that there would be (severance-saddled) victims in this whole thing but the fact that Jamie Dimon can't spare a few pesos to keep the group which inspired "Project Awesome" (the fictional Latam division of the fictional JS Spencer bank which spent most of its time chilling in Cabo with the odd Brazilian mention in Dana Vachon's Mergers and Acquisitions) fully intact is a hard pill to swallow and quite nearly criminal. To Dimon's credit, however, he apparently was instrumental in coming up with the line, "You are free to look for other jobs," which was inspired. (Especially after he asked everyone to stay put for the last several months and requested that other banks hold off on hiring Bear employees until he could decide who would be getting fired.)


*It's funnier than "vivan."
**Not yet official, just in the hopper. Also under consideration: JPMorgan Cayne, the reasoning being that "this whole thing would never have happened without JC's inspired management of Bear."

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WellCare's 208 Layoffs Include Jobs In Tampa


By JEROME R. STOCKFISCH

The Tampa Tribune

Published: May 23, 2008

TAMPA - WellCare Health Plans, an administrator of government-sponsored health care plans that is under investigation by the U.S. attorney's office, on Thursday laid off 208 employees, including some at its Henderson Road headquarters.

WellCare, whose offices were raided by federal agents in October, said in a statement that the move was in response to "changing business conditions."

Most of the reductions were in Florida and New York Medicaid sales operations, with some corporate and regional support functions also affected.

A spokeswoman could not pinpoint how many of the jobs were in Tampa.

The job losses represented about 5 percent of WellCare's overall work force, bringing the company to a total of 3,800 employees.

The U.S. attorney's office in Tampa has not explained October's raid or what it sought with search warrants. No arrests have been made.

WellCare shares plummeted from more than $120 to the $20 range after the raid, and the company's three top executives resigned.

The shares have recovered somewhat since then after analysts concluded that the investigation appeared to be focused on WellCare's Florida Medicaid business and was not a widespread fraud issue. WellCare serves 2.4 million customers in several states.

Its shares closed Thursday at $53, up $1.13.

Wall Street analysts have speculated that WellCare might be an acquisition target of one of the managed-care industry's giants, but spokeswoman Amy Knapp said Thursday that the company is not positioning itself for a sale.

The layoffs come five months after the company adopted a retention plan to keep key employees onboard while the investigation was under way.

According to documents filed with the Securities and Exchange Commission, WellCare offered bonuses of 20 percent to 50 percent of base salary to substantially all of its employees to stay on through this calendar year.

That program cost $35 million, the company said.

WellCare has not been filing financial reports since October's raid, saying directors have been distracted by the investigation.

A filing with the SEC last week said that increases in medical benefits expenses and administrative costs relating to the case, including legal fees, would likely lead to a net loss for the first quarter of 2008.

Reporter Jerome R. Stockfisch can be reached at (813) 259-8402 or jstockfisch@tampatrib.com.

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Sunday, May 25, 2008

American Airlines Changes Affecting North Texans


Hot Jobs: 2008


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Beyond Job Losses


A Place for Older Workers?


Saturday, May 24, 2008

Ford to lay off up to 430 Windsor employees


By John McCrank

TORONTO (Reuters) - Ford Motor Co (F.N: Quote) said on Thursday it could slash more than 400 jobs at the Windsor, Ontario, plant where it makes engines for pickup trucks and SUVs, as part of the company's shift to focus on more fuel efficient vehicles.

"We have sent layoff notices to approximately 430 employees," said Mark Truby, a Ford spokesman in Detroit.

"That doesn't mean they will all necessarily be laid off... the exact number that we end up with will be clearer as we work through some of the final production volumes."

Truby said there are currently no other plans to lay off workers at Ford's other Canadian plants.

Buzz Hargrove, president of the Canadian Auto Workers union said he expects around 300 union members to be laid off at the Windsor plant.

"We'll lose a shift in our V8 engine plant in Windsor and, other than that, I don't see it having an impact anywhere else," he said.

The Windsor plant assembles V8 and V10 engines. Ford said on Thursday it would cut back on the production of sport utility vehicles and pickup trucks as consumers shift to more fuel efficient vehicles amid soaring pump prices.

Hargrove said the union would look into buyout packages, but with all the recent layoffs at Ford, which has struggled amid weak U.S. sales and high fuel prices, laid-off workers would likely be left with little protection.

"We've pretty well exhausted the buyout pool, or the retirement incentive pool ... so we're now down to the point, with the exception of Oakville, that anything that hits us means people are laid directly onto the street," he said.

Ford's Truby also said he was unsure if buyouts would be offered.

Hargrove confirmed that a new, still-unnamed vehicle is slated to be produced in Ford's Oakville, Ontario, plant, probably some time next year.

Plans for the vehicle were said to be included in the three-year contract agreement between the union and the automaker that was ratified on May 4, but it was never officially announced.

The CAW said it would not look to revisit the contract terms.

(Editing by Rob Wilson)

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Layoff Watch: JPMorgan


"Believe it, don't, whatever, it's a three-day weekend. Supposedly Bearpont Morgan Chase has cut 50 percent of first year analysts and 50 percent of IBD entirely. Severance is 2.5 months salary plus full bonus given out in July." [Dealbreaker]

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Logistics firm to layoff 104 in Lancaster County


By Jim T. Ryan
5/20/2008

Arizona-based RoadLink Warehouse Solutions will permanently layoff 104 workers June 7 at a grocery warehouse in Lancaster County.

The RoadLink workers are part of the company's unloading service at a warehouse operated by SuperValu Inc. and its Acme grocery chain, according to a notice RoadLink filed May 9 with the state Department of Labor and Industry.

The letter from the company said SuperValu had contracted with a different unloading service at the warehouse on Muddy Creek Road, East Cocalico Township. Three managers will also be affected by the change, but RoadLink did not specify whether they would be laid off or moved to other jobs.

RoadLink did not return calls seeking clarification.

Minneapolis-based SuperValu also did not return calls. It is unknown with which service it contracted at the distribution center.

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GM Layoff Ripple Claims 336 More Jobs


ANESVILLE - The ripple effect of General Motors layoffs claims more jobs in Janesville.

The company that makes seats for the interior of GM vehicles is announcing major layoffs at their Janesville plant.

Michigan-based Lear Corporation plans to layoff 336 workers on July 14, according to a notice posted Friday by the Department of Workforce Development.

Another GM vendor, Logistics Services, Inc., announced 132 layoffs earlier this month at its Janesville facility. The cut takes effect July 8.

GM plans to layoff 756 workers at the Janesville assembly plant on July 14. The company blames a slumping market for the SUVs built in southern Wisconsin. Gas-guzzling Yukons, Tahoes and Suburbans come off the line in Janesville, among the largest of the company's consumer vehicle

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Lear plans layoff of 336


Cuts in Janesville at interior-maker come as sales of large SUVs plunge
By THOMAS CONTENT
tcontent@journalsentinel.com
Posted: May 16, 2008

Lear Corp., one of Janesville's top employers, announced Friday that it would lay off 336 employees in mid-July.

The Lear factory makes seats and interior trim components for the large sport utility vehicles that are selling poorly this year in light of skyrocketing gas prices.

The Lear cuts, effective July 14, coincide with the switch at the GM Janesville assembly plant from two to one production shifts, which will result in the loss of 750 GM jobs.

The cuts follow what GM termed a "dramatic" softening in demand for large sport utility vehicles and pickup trucks. The big SUVs made in Janesville get 14 to 16 miles per gallon, on average, according to the U.S. Department of Energy.

Lear's announcement came on the same day that the average price of regular unleaded gasoline topped $3.81 in Janesville for the first time, according to AAA. In the Milwaukee area, AAA said the average price was more than $3.96 a gallon Friday, also a record.

Sales of the large SUVs assembled in Janesville are off sharply so far this year. Compared with the same period last year, sales through April were off 27% for Chevrolet Tahoes, 29% for Chevrolet Suburbans, 31% for GMC Yukons and 33% for GMC Yukon XLs.

Including 140 people already laid off this year, the GM plant at mid-year will have one-third fewer workers than it had at the beginning of this year. More cuts are coming, as GM also plans to trim the number of salaried workers at the plant in light of the switch to one shift, a plant spokeswoman said.

GM's union workers have until Thursday to decide whether to accept early retirement or buyout packages that the automaker offered earlier this year.
Fifth-largest employer

A representative of Lear couldn't be reached for comment. The company employed more than 900 people in 2006, according to city records, making it the fifth largest employer after Mercy Hospital, GM, the School District of Janesville and Rock County government.

Earlier this month, another GM vendor, Logistics Services Inc., notified authorities of plans to lay off 132 workers beginning in July.

Lear, based in Southfield, Mich., is a competitor of Glendale-based Johnson Controls Inc, with 2007 sales of $15.4 billion. GM is Lear's largest customer.

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Midwest to Layoff Workers


Friday, May 16, 2008
Midwest to Layoff Workers
In response to rising fuel costs which are now half of its operating expenses, Midwest Air Group is cutting 108 jobs including 35 pilots. The layoffs are about 3.5 percent of its workforce. Chair Timothy Hoeksema said the company has no choice if it wants to survive. The move compounds the 380 employees laid off when subsidiary Skyways was restructured from a regional feeder to a ground handling organization in favor of contracting with SkyWest to provide the feed as Midwest Connect out of Midwest’s two hubs. Related Story It is also dropping long-haul flights at both Milwaukee and Kansas City. While fuel has risen by a third since this time last year, Midwest is now able to save millions now that is able to buy fuel through Northwest, which became a minority investor earlier this year.

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Midwest to Layoff Workers


Friday, May 16, 2008
Midwest to Layoff Workers
In response to rising fuel costs which are now half of its operating expenses, Midwest Air Group is cutting 108 jobs including 35 pilots. The layoffs are about 3.5 percent of its workforce. Chair Timothy Hoeksema said the company has no choice if it wants to survive. The move compounds the 380 employees laid off when subsidiary Skyways was restructured from a regional feeder to a ground handling organization in favor of contracting with SkyWest to provide the feed as Midwest Connect out of Midwest’s two hubs. Related Story It is also dropping long-haul flights at both Milwaukee and Kansas City. While fuel has risen by a third since this time last year, Midwest is now able to save millions now that is able to buy fuel through Northwest, which became a minority investor earlier this year.

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S.D. School Board Lays Off 617 Teachers - California to Lay Off 14,000-15,000


SAN DIEGO - The San Diego Unified School Board voted 3 to 2 Tuesday, May 13th, to lay off 617 teachers. According to District spokesperson District, Jack Brandais, John De Beck voted with the majority, whereas Board members Sheila Jackson and Luis Acle voted against the cuts.The 617 teachers slated to be laid off will not be offered contracts in the fall, but can finish out the school year, according to Brandais.

The vote took place before a packed auditorium at the District headquarters on Normal Street. But it was anything but normal, when the Board made its decision to lay off the teachers, claiming there was no alternative in order to balance its budget.

Brandais made the claim that,”There’s approximately 14,000 or 15,000 teachers around the state that have received layoff notices.”

Camille Zombro, of the San Diego Teachers’ Union continues to say there are alternatives to layoffs, such as a hiring freeze, cutting the administration, dipping into the reserves. Other large school districts have managed to survive and balance their budgets without massive lay offs. [For more news, go here to msnbc local.]

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Wednesday, May 21, 2008

HUGE JOB LOSS LOOMS IN CITY


By TOM TOPOUSIS

May 21, 2008 -- The city will lose 70,500 jobs and $2 billion in tax revenues over the next year as a national recession sweeps into the Big Apple, the Independent Budget Office predicted yesterday.

But watchdogs say the downturn won't affect the city budget until after Mayor Bloomberg is out of office because of a current $4.6 billion surplus and cost-cutting begun this year.

Job-loss predictions are:

* Financial services: 33,300 positions lost.

* Professional and business services: 21,200.

* Information industry: 8,600.

* Construction: 7,400.

The IBO predicts that what it views as a recession will "bottom out" in New York by the middle of next year.

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HUGE JOB LOSS LOOMS IN CITY


By TOM TOPOUSIS

May 21, 2008 -- The city will lose 70,500 jobs and $2 billion in tax revenues over the next year as a national recession sweeps into the Big Apple, the Independent Budget Office predicted yesterday.

But watchdogs say the downturn won't affect the city budget until after Mayor Bloomberg is out of office because of a current $4.6 billion surplus and cost-cutting begun this year.

Job-loss predictions are:

* Financial services: 33,300 positions lost.

* Professional and business services: 21,200.

* Information industry: 8,600.

* Construction: 7,400.

The IBO predicts that what it views as a recession will "bottom out" in New York by the middle of next year.

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Tuesday, May 20, 2008

States' data offers gloomier view of U.S. employment


By Lisa Lambert

WASHINGTON, May 16 (Reuters) - State-by-state employment figures released on Friday showed much deeper job losses last month than the U.S. government had reported, renewing concerns about the health of the economy.

State data showed the U.S. economy lost 151,000 jobs in April, raising speculation that the federal government will increase its estimate of payroll losses which it reported earlier this month as 20,000.

Economists said the discrepancy was not abnormal and the U.S. Bureau of Labor Statistics, which released both reports, cautioned against reading too much into the state figures. It noted that totaling the figures from the states can distort the national picture.

"If one wants a clearer picture of what's going on at the national level, you have to look at the national report," a BLS official said.

Sparked by the state figures, speculation rippled through markets on Friday that the April jobs number will be revised lower in the government's next report on non-farm payrolls on June 6.

The April figures released earlier this month were less dire than many economists had expected, and a sharp downward revision would deflate some of the optimism about the resilience of the economy that stemmed from that report.

Alan Ruskin, an economist with RBS Global Banking and Markets, said differences stem from seasonal adjustments to the national data and state data, and do not mean an "inevitable downward revision."

The two sets of numbers often differ, and the average divergence since 1990 has been 93,000 jobs, said Michael Feroli, an economist at JPMorgan.

Still, the states' reports did not "suggest any improvement in our labor market," said economist Philippa Dunne of the Liscio Report, which tracks state trends.

When compared to March, state unemployment rates were little changed in April, according to the report.

While 28 states and the District of Columbia said their unemployment rates had decreased, 14 said the rates had increased and eight states said they had seen no change.

Michigan had the highest unemployment rate, 6.9 percent, while South Dakota and Wyoming were tied for the lowest at 2.6 percent.

Non-farm payroll employment rose in 10 states and in the District of Columbia, but decreased in 39 states, BLS said. The largest drop was in Florida, which lost 25,300 jobs -- the latest sign of how deeply the housing downturn has cut into the state's economy.

Texas led the country with 15,400 jobs gained over the month. (Additional reporting by Joanne Morrison; Editing by Tom Hals)

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Sunday, May 18, 2008

A Place for Older Workers?


General Motors to Cut Workstaff at Truck and SUV Factories


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Facility Closures and Layoffs (May 11-17)


Facility Closures and Layoffs (May 11-17)
A Weekly Listing of Future Corporate DownsizingsThis article is excerpted from Watch List, a weekly column of market conditions, company expansions and contractions and real estate investment opportunities.
Sun Microsystems has increased the number of layoffs it is planning for this year. In February, CoStar reported that Sun Microsystems has been laying off employees across the country, sometimes as few as one or two employees per location. Through the end of 2007, Sun Microsystems had laid off 657 employees and said it was planning another 103 layoffs this year. Earlier this month, the company said it now plans to lay off 1,500 to 2,500 workers.
Ford Motor Co. is offering buyouts to 800 workers at its assembly plant in Chicago, IL, and 500 at its Louisville, KY, and an unidentified number of workers at its Cleveland, OH, plant. All three plants will move from two shifts to one this summer. The restarting of an idled second engine plant in Cleveland will be delayed until the fourth quarter. The Chicago factory makes the Ford Taurus and Mercury Sable sedans and Taurus X crossover vehicle. The Louisville assembly plant makes the Ford Explorer and Mercury Mountaineer sport utility vehicles. The Cleveland plant makes engines. Albany International Corp. is planning more reductions in manufacturing capacity. It intends to discontinue operations at its forming fabric manufacturing facility at 4521 Troy Highway in Montgomery, AL. The plans are in response to the continuing consolidation within the paper industry in the U.S. The following future closings and permanent mass layoffs were reported in Florida.
First Data is laying off 96 employees at 1800 W. Internat'l Spdway Blvd. in Daytona Beach by June 27.
First Student is laying off 277 employees at 6544 Firehouse Road in Milton on June 30.
Hapag-Lloyd is laying off 50 employees at 401 E. Jackson St. in Tampa on June 30.
Health Care District Of Palm Beach is laying off 66 employees at 3111 S. Dixie Highway, Suite 138, in West Palm Beach by Sept. 30.
Lear Corp. is laying off 108 employees at 5100 W. Waters Ave. in Tampa on June 13.
National Gypsum Co. is laying off 73 employees at 6110 Commerce St. in Tampa on June 16.
North Ridge Medical Center is laying off 405 employees at 5757 N. Dixie Hwy in Ft. Lauderdale on June 1.
PRC is laying off 424 employees at 2000 N. State Road 7 in Margate on June 30.
Safe Children Coalition Operations is laying off 93 employees at 6451 126th Ave. N., Suite 300 in Largo on July 1.
Select Medical Corp. is laying off 84 employees at 2120 Sarno Road in Melbourne by Oct. 2.
Sourcecorp BPS Inc. is laying off 58 employees at 3090 Carus Court, Suite 50, in Orlando on May 31.
Thies Distributing is laying off 147 employees at 10455 Riverside Drive in Palm Beach Gardens; 99 employees at 201 E. Coast St. in Lake Worth; and 62 employees at 3501 S. E. Commerce Ave. in Stuart, on June 30.
VEOLIA Transportation laid off 153 employees at 1500 SW 40th St. in Fort Lauderdale on April 30.
Whole Foods Market Group Inc. is laying off 57 employees at 1135 W. New Haven Ave. in Melbourne on June 2. U.S. Immigration and Customs Enforcement (ICE) agents executed a criminal search warrant this week at Agriprocessors Inc. plants in Postville, IA, for evidence relating to aggravated identity theft, fraudulent use of Social Security numbers and other crimes, as well as a civil search warrant for people illegally in the United States. So far, ICE agents have arrested more than 300 individuals for administrative immigration violations. Agriprocessors is one of the USA's three largest packers for kosher meats in the country and, as such, the federal action could disrupt the supply of kosher meats in the short term. LyondellBasell Industries will stop producing polypropylene at its Morris, IL, plant at 8805 Tabler Road in the fourth quarter. Production will be shifted to other sites. Polyethylene production at the site will not be affected. Paul Mueller Co. is undertaking a temporary layoff of 134 employees at 1600 W Phelps St. in Springfield, MO. The company expects to recall most, if not all, of the employees by the end of the third quarter. The following future closings and permanent mass layoffs were reported in Pennsylvania.
Inglis at Home Services LLC is laying off 62 employees at 2600 Belmont Ave. in Philadelphia on June 2.
Overhead Door Corp. is laying off 99 employees at 23 Industrial Park Road in Lewistown by July 1.
St. Agnes Continuing Care Center is closing down and laying off 81 employees at 1900 S. Broad St. in Philadelphia on June 26.
TRG Customer Solutions is closing down and laying off 111 employees at 161 Old Rt. 30, Suite 7, in Greensburg by July 1.
Washington Mutual is closing down and laying off 239 employees at 2000 Oxford Drive in Bethel Park by Aug. 1.Constar International Inc. decided to close its 192,380-square-foot manufacturing facility at 8705 Citypark Loop in Houston, TX, by the end of this month. This decision resulted from previously disclosed customer losses, and a strategic decision to exit the limited extrusion blow-molding business supported by the Houston facility. The company will continue to service the Houston plant’s PET business at the company’s Dallas facility. The following future closings and permanent mass layoffs were reported in Virginia.
International Automotive Components - North America (IACNA) is laying off 272 employees at 806 E. Queen St. in Strasburg by July 31.
L3 Communications Linguist Operations and Technical Support is laying off 70 employees at 1900 Campus Commons Drive, Suite 400, in Reston by June 8.
TerreStar Networks Inc. is laying off 71 employees at 12010 Sunset Hills Road, Suite 900, in Reston on June 30. Washington Mutual is closing down and laying off 84 workers at 3060 139th Ave. SE in Bellevue, WA, on Aug. 31. The American Red Cross is laying off 408 employees at its national headquarters at 2025 E St. NW in Washington, DC, this month. For news of retail store closings, see CoStar's Retail News Roundup, a weekly report on retail expansion plans, acquisitions/mergers/sales, closings, bankruptcies and more written by Sasha M. Pardy, senior news editor.

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Construction employment falls 11.7%


Ciara O'Brien
Employment in the construction sector continued to fall in March, slipping 11.7 per cent compared with a year earlier, according to new data from the Central Statistics Office.
This was the largest decline since the Index of Employment in Construction, which covers private firms employing five or more people, began in 1994. The monthly change indicated a drop of 1.5 per cent on February. Provisional figures show the monthly employment index decreased from 110.1 in March 2007 to 97.2 in March 2008. This is the twelfth consecutive month that the rate of employment in the industry has fallen, providing further evidence of a slowdown in the construction sector. The first quarter of the year has been particularly bad for employment in the sector. Final data for February showed a decrease of 10.8 per cent year on year, while the number of jobs in the sector fell by 10 per cent in January. “Today’s construction figures are further evidence that the recent sharp decline in house completions has considerably reduced the number of job opportunities for those working in the construction trades," said Fas economist Brian McCormick. "Furthermore, the recent closure of Habitat indicates that this negative employment effect has begun to spill over into the construction-related services sector." The turnaround, which began in April 2007 when employment fell by 0.1 per cent, has lost jobs steadily over the past year. According to Fas, the new figures are consistent with the recent rise in the Live Register, which has seen a rise in the number of men signing on. Some 95 per cent of construction workers are male. The employment authority is predicting further declines in construction jobs in the residential property sector. "We take the view that employment in construction will be almost 50,000 off its Q1 2007 peak by the end of 2009. This will pose serious policy challenges," it warned in a statement. However, Mr McCormick was reasonably optimistic that there would be growth in other areas of the construction sector, within emerging construction sectors such as sustainable development, and repair and maintenance, which has seen a lot of activity in recent months. "NDP-funded infrastructural projects will also continue to provide job opportunities in the future,” he said. Activity in these sectors is not measured in the index, meaning that the total fall in overall construction employment could be less severe than the index portrays.
Fas is predicting that unemployment will rise to 6.6 per cent in 2009 due to predicted losses in the office and retail sector, and the impact of the difficulty in the residential property sector during 2008.

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Ten Job Hunting Myths


The job market looks more promising for this year's college grads, but the perfect opportunity probably won't fall in your lap. Search smart by avoiding these common misconceptions.
By Erin Burt
The job market is improving. A recent study from the National Association of Colleges and Employers found that employers plan to hire 13% more new college grads this year than last year -- with business, engineering and computer fields taking top priority.
That's good news if you or someone you know is preparing to make the move from library stacks to a corporate cubicle. But it doesn't mean the perfect job will just fall in your lap. And misconceptions about job hunting, the working world and the entry-level employee's role can easily bog down a young professional's progress.
Improve your chances of finding your dream job. Don't get sucked into these ten common job-hunting myths:
1 Finding a job after college will be quick and easy
Although the job market for this year's college grads looks rosier than last year, don't expect the job offers to come rolling in. Finding work may be a cinch for a select few, but for the vast majority, it will still take serious effort.
The length of your hunt will depend on a variety of factors, including:
The job market
Your location
Your qualifications
The amount of time you dedicate to your search
Your interviewing skills
The types of resources you use to find job openings
If it takes a while, don't get discouraged. The average job search lasts four months, according to outplacement firm Challenger, Gray and Christmas. To make ends meet in the meantime, you may have to take a less glamorous (and lower-paying) gig. A few of my friends have worked in call centers, flipped burgers or cleaned toilets for a couple months after graduation -- just until they landed a job where they could use their degree.
2 The Internet is the best place to look for a job
"One of the most prevalent misconceptions in job hunting is that job hunting on the Web is some magic elixir that will result in employers lining up to interview you," says Randall Hansen, associate professor of marketing at Stetson University and publisher of Quintessential Careers.
While the Internet should probably make up one component of your search, says Hansen, it shouldn't be your only strategy. Only about 15% to 20% of all job openings are ever publicly advertised in any medium, and only about 5% of job seekers end up getting jobs through ads, Hansen says.
How does everyone else do it? Word of mouth.
"Networking is by far the most effective job-search tool you can use," Hansen says. When you're first starting out, you probably don't know many people in your field that can help in your job hunt, so this can present a challenge. But there are plenty of ways beginners can plug into the grapevine:
Check out the resources offered by your college alumni association.
Join a professional organization or club.
Subscribe to a trade magazine.
Consider getting an internship.
Find online discussion groups for your industry though groups.google.com.
Set up informational interviews with experts in your field
Keep in touch with college acquaintances in your major, especially those who may have graduated before you.
The Internet may not be a total bust -- I found my first job out of college through an online journalism job board. But taking the time to weave a web of professional contacts could create more opportunities for you now and enhance your career options down the road.
Learn how to use the Web productively in your job hunt.
3 I'll make at least $40,000 at my first job out of college
As graduation nears, you're probably fantasizing about the wads of money you'll make as a member of the working world -- and how you'll spend your new-found cash. As such, you'll be happy to hear that according to the NACE, 2004/05 grads can expect higher starting salaries than last year's. There's nothing wrong with a little planning, but make sure your expectations are in line with reality.
Starting salaries for several fields featured in the NACE study averaged less than $40,000 (see box to the right). The most lucrative majors were in engineering and computer fields, running in the neighborhood of $50,000. But popular degrees such as business administration, English and marketing fell solidly below $40,000. Psychology, liberal arts and biology grads averaged less than $30,000 to start.
Although your degree and skills impact your salary, your location matters too. For example, an entry-level public relations specialist in Dallas typically makes about $40,000. But in Los Angeles, the median salary runs $4,000 higher, according to Salary.com, which surveys employers about the wages they actually pay their workers. Check out our salary calculator to learn what your job's going rate is in your neighborhood. You can select "Entry Level" as the job category, or choose among 67 other fields to compare beginners' salaries in your field with positions you might qualify for in the future. You may have to start lower on the salary scale than you planned, and work your way up as you gain more experience.
And remember, just because you earn a certain amount doesn't mean that's what you'll take home. For example, a $40,000 annual salary is reduced to about $30,800 after federal, social security and medicare taxes are taken out. That's not counting state taxes and any money you might have withheld from your paycheck for benefits. Use the paycheck calculator from PaycheckCity.com to estimate your future take-home pay.
4 There's no room for negotiation with an entry-level salary
With some jobs, this may very well be true. But most employers leave some wiggle room in their offers to new employees, even those that are fresh out of school. The bottom line: You won't know unless you ask.
Bargaining over a job offer shows your potential employer that you are discriminating about where you work. But that doesn't mean the sky is the limit. Let's face it, you have minimal -- if any -- real-world experience. And a prestigious alma mater doesn't entitle you to more pay. Employers care more about what you can do for them. Use our salary calculator to find out what your job is worth, and then negotiate around that figure, highlighting your unique skills and talents that you'll bring to the position. And don't say that your salary requirements are a deal breaker unless you mean it.
But even if there isn't any room for an increase in salary, consider negotiating your benefits such as vacation time, work hours, signing bonuses, starting date, relocation benefits, etc. Many college grads get so excited just to receive an offer that they accept the terms outright. But you don't want to find yourself a week later wondering if you could have gotten a better deal.
5 The person who gets hired is the one who can do the job best
If you've got the skills, you're a shoo-in. Right?
Not so, says Hansen. More often than not, it comes down to interviewing skills and your rapport with your interviewers. Your qualifications, education and experience will usually get you an interview, but then "you need to prove why you are the best person to fill the job."
Make a good first impression by showing up on time and looking clean and professional. Act confident but not cocky. Use concrete examples to illustrate your qualifications. Maintain eye contact and relax. For more pointers on how to master your presentation, check out the job interviewing resource center from Quintessential Careers. You'll find databases of interview questions, including one tailored specifically for recent college grads.
Before leaving the interview, make sure you find out how to follow up, says Carole Martin, interview coach and author of Boost Your Interview IQ. For example, she suggests asking your interviewer: "I'd like to stay in touch and follow up with you in a week or two to see how the process is going and where I stand. How do you prefer that I communicate with you -- e-mail or phone?" You'll want to show your continuing interest in the job without becoming a pest.
6 A well-designed résumé will boost my chances of getting noticed
A snazzy resume may actually be a hindrance. Most employers accept resumes via email, but many won't open resume attachments either out of laziness or fear of contracting a computer virus. Your chance of getting noticed: zilch.
The solution: Create two copies of your résumé. The first one should be a simple version you can paste into the body of an e-mail -- sans formatting. That means no fancy fonts, bolds, italics, underlines or special characters. Keep each line under 65 characters and replace bullets with plain old asterisks, says Kim Isaacs, director of ResumePower.com. (See a sample.) The second resume should be nicely formatted for you to carry in-hand to your interview. For more tips on how to get your résumé noticed, see Polish Your Résumé.
7 What I think of an employer doesn't matter as much as what s/he thinks of me
Of course you're eager to impress. But in your zeal to get hired, don't forget that the employer must pass your screening too. Many first-time job hunters overlook this key point until it's too late. Think about this: There are 168 hours in a week. If you spend 40 of those at work, that means you'll pass one-quarter of your week there. You better make sure you like the place.
Find out about boss's management style, the company's stability and any company problems. Ask about the challenges specific to your position, what a typical day will be like and opportunities for growth and advancement in the company.
Some employers may introduce you to your potential co-workers either on the initial or secondary interview. Chat with them about the work environment, and what they like and don't like about their jobs. If you haven't had that opportunity before the company makes you an offer for hire, ask for the contact info of a couple of people you would be working with and give them a call or send them an e-mail before accepting the job. It is important to impress the employer, but it's equally important that you're impressed with the job.
8 If I plaster the Web with my résumé, I'll receive more interviews
Let's face it -- the sheer volume of résumés on the massive job boards like Monster.com, HotJobs.com and CareerBuilder.com make it virtually impossible to get an employer's attention. In fact, job hunters such as yourself post thousands of new résumés each day.
And sending out your résumé en masse to every employer you can think of isn't a much better approach. On average, a company interviews only one person per 245 résumés it receives. You need to be more proactive in your job search and tighten your focus if you expect to get results.
Tailor your résumé and cover letter to target each job you apply for and follow-up your résumé with personal contact.
And you can still use the Internet in other ways to hone in on more promising prospects:
Check out job boards that cater to your specific field. You can find a list of industry-specific job sites at Quintessential Careers or the Riley Guide sites. Or check out local job boards on Craigslist.org.
Research a prospective employer. Before applying for (and especially before going to an interview), you should spend some time on the employer's Web site. Make sure you understand the company and see if you can envision yourself working there. At WetFeet.com, you can also get company profiles for thousands of firms.
Network. One of the best ways to jump-start your career is to talk with people in your field to get career advice and find job openings by word-of-mouth. Search for an online discussion group through Google or Yahoo!.
9 If a company isn't currently hiring, I can't get an interview
One of the most powerful job-hunting tools is an informational interview. You can arrange an informal interview with people working in your field to learn more about working in the industry, get expert career advice and, most importantly, build a network of contacts in your field.
A friend of mine in college was interested in working in the insurance industry, and he'd heard good things about an employer in the area. It wasn't hiring at the moment, but he set up an interview with one of its executives to talk generally about a career in the industry. He took a copy of his resume with him, and the exec offered to keep it on file should an opening arise. Two weeks later, he was called in for an interview for an opening that the firm hadn't even advertised yet. And he got the job.
Not all informational interviews will result in a job offer, but they're time well spent. It may not pay off immediately, but later in your career, you may reap the benefits of the contacts you made and advice you received.
10 If I don't know what I want to do after graduation, I should go to graduate school
An advanced degree could be the ticket to a new career or a stepping stone to faster advancement in your current job. But if you're using it just to buy time because you can't make a decision, it could be a complete waste of time, energy and money. Grad school should be used as a means to a well-researched end.

Peter Vogt, president of Career Planning Resources suggests asking yourself the question: "Are you going to graduate school for a purposeful reason or are you falling into grad school to get away from other things?" It's an awfully big investment, so you better make sure it's what you really want for yourself.

If you're finding yourself tempted the wrong reasons, get a job instead. Breaking out of the routine of school for a while could help you gain greater perspective about your skills, interests and career goals. Besides, you can always go back to school later. For more information on whether grad school is for you, see The Back to School Decision.

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Capistrano Unified to issue layoff notices to 238 teachers


Some jobs will be preserved, thanks to retirements, resignations and retaining small class sizes at 3 schools.

By SCOTT MARTINDALE
The Orange County Register

SAN JUAN CAPISTRANO – About 230 Capistrano Unified teachers will begin receiving final notices today that they won’t be needed next year as the district finalizes plans to cut $27 million from its 2008-09 budget in response to anticipated state cutbacks.

The school board on Monday voted to issue 238 layoff notices to certificated educators, 27 fewer than those receiving “reduction in force” notices in March. The final notices will go out by Thursday, as required by state law.

“We don’t want to give out any more layoff notices than we have to,” said Suzette Lovely, deputy superintendent for personnel services. “It’s beyond regrettable.”

Of the 27 layoffs rescinded, 14 teachers were kept because of resignations and retirements. Trustees on Monday shielded 13 teachers at Kinoshita and San Juan elementary schools in San Juan Capistrano to ensure continuity at the academically struggling campuses.

Not all of the 238 educators still on the list will lose their jobs. A handful is expected to be kept based on more recent retirements and resignations; still others will benefit from a plan adopted Monday to fund the 20:1 ratio of students to teachers in kindergarten through third grade at three elementary schools – San Clemente’s Las Palmas Elementary, plus Kinoshita and San Juan – using federal Title I poverty money.

District officials plan to cut the class-size reduction program at the district's 33 other elementary campuses, but the school board unanimously approved the plan to save it at just the three schools.

The program and staffing cuts are intended to trim Capistrano’s spending in response to Gov. Arnold Schwarzenegger’s January announcement that the 2008-09 minimum K-12 funding allotment would be cut by $4 billion.

The most controversial part of Monday’s layoff vote, approved 5-2 with trustees Larry Christensen and Duane Stiff dissenting, was the provision that allowed the 13 Kinoshita and San Juan teachers to bypass the seniority-based system by which the other teachers are to be laid off.

Kinoshita and San Juan are designated "program improvement" for failing to meet federal No Child Left Behind performance targets for two consecutive years. Their teaching staffs completed up to 28 hours of specialized training this year to raise student achievement. District officials argued to the school board that major changes in the composition of the staffs could jeopardize the schools’ chances of moving out of “program improvement” status.

The Capistrano Unified Education Association teachers union opposed the exemptions.
“This is setting bad precedent for CUSD,” union president Vicki Soderberg said during the meeting. “This district may have to RIF again. What training will have to be exempted then?”

Added Stiff: “I find it really strange that a special effort was not made to make sure this board was made aware of this exemption. We’re talking about bumping up permanent employees.”

But trustee Anna Bryson, who joined the majority of trustees in approving the 13 exemptions, emphasized the importance of providing extra opportunities to underprivileged children, especially ones struggling to learn English.

“Apparently there are some people who think those children are expendable,” Bryson said. “I find that intolerable.”

Also Monday, as part of the district’s cost-cutting measures, the board approved eliminating 44 of the district’s 62 bus routes and the elimination of 14.1 non-classroom classified positions.

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133 Saddleback teachers to get final layoff notices


The district rescinds 35 layoffs, including two for teachers whose credentials and seniority matched a colleague whose layoff had been lifted.

By LINDSEY BAGUIO and SCOTT MARTINDALE

MISSION VIEJO – Saddleback Valley Unified officials will begin issuing final layoff notices to 133 teachers today as the district works toward cutting $19.3 million from its budget this fall in response to anticipated state cutbacks.

The school board on Tuesday night unanimously voted to notify the 133 certificated teachers that their services won't be needed in the coming year – 35 fewer than those who received the tentative "reduction in force" notices in March. The notices will all go out by Thursday, as required by state law.

Of the 35 rescissions, 33 were possible because of retirements and resignations over the past few months, district officials said. Additionally, the school board on Tuesday granted rescissions to two teachers who have the same seniority dates and credentials as a colleague whose layoff notice was rescinded, said Assistant Superintendent of Personnel Jennifer Huff. Francine Kim of Rancho Santa Margarita Intermediate School and Janice Dove, an elementary music teacher, will be reinstated.

The layoffs were approved with little discussion from board members and the public.

Saddleback previously notified 53 temporary teachers that their one-year employment contracts would not be renewed.

The school district is among 16 out of Orange County's 28 to plan for teacher cuts in response to Gov. Arnold Schwarzenegger's plan to cut $4 billion from money that K-12 schools are entitled to receive next year under the Prop. 98 funding formula. Although the layoff notices must be finalized by Thursday, districts can rehire teachers if the state's budget situation improves over the summer.

Among Saddleback's planned cuts are the eliminations of the district's rigorous International Baccalaureate program and a cultural geography course that is required of all high school freshmen.

In the first through third grades, class sizes will be increased to about 30 students from 20, although half the day will still be spent in classes of 20. The class-size reduction program is so popular among elementary school parents that several school groups are fundraising to save it; they have until June 1.

Contact the writer: 949-454-7394 or smartindale@ocregister.com

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Layoff Watch 08: Round Two Of UBS Cuts


Another round of layoffs at UBS is underway today, according to a person familiar with the situation. The asset management and wealth management units are said to be on the chopping block. Investment banking is also expecting cuts.

Oddly enough, the municipal bond unit, which is reportedly set to be shuttered by UBS, has been asked to "hold on" as the bank attempts to see if there are any buyers for the business, according to our source.

UBS could not immediately be reached for comment on the job cuts.

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With 50,000 Layoffs So Far This Year, Wall Street Employees Must Protect Themselves


Wall Street continues to shed jobs at breakneck speed, and financial firm employees cannot help but wonder how many heads will ultimately roll. The number of announced layoffs increases weekly. According to an article in The Wall Street Journal on May 10, more than 23,000 financial job cuts were announced in April. That brings the total announced job cuts for the first four months of 2008 to 49,825 –- nearly as many as the job cuts announced in all of 2007.

Lehman Brothers is expected to announce this week that it is eliminating about 5% of its workforce – or 1,425 jobs – on top of a previously announced 5% job cut. By the end of June, Morgan Stanley plans to cut 1,500 more jobs to bring its total layoffs to 4,500 or about 10% of its workforce. UBS announced last week that it will cut 5,500 jobs, including 2,600 investment bankers. Finally, no one knows how many Bear Stearns employees will be laid off once JPMorgan Chase acquires that firm.

In this uncertain climate, employees on Wall Street need to protect themselves. Even if your firm has a reputation of protecting its own, once you are targeted for layoff you are no longer within that circle of protection.

If any dispute arises, documents relating to your employment will be critical and should be preserved. You must keep a copy of all documents relating to your employment status, including offer letters, employment contracts, employee handbooks, codes of conduct, compliance manuals and bulletins, benefit plans, deferred compensation plans, stock options plans, restricted stock plans, performance appraisals, bonus awards, promissory notes, records of payments and/or forgiveness of promissory notes, letters, email communications, and memoranda. Make sure that you have a copy of every document that you have signed. You should also include all documents relating to any sales awards or distinctions the firm has awarded to you, such as, for example, admission to the President's Circle. Finally, it also may help if you save any thank you notes and cards from satisfied customers.

There may be instances when a manager makes oral promises or representations to you. If the manager will not confirm them in writing, then you should keep careful notes of such promises or representations at the time that they are made.

These copies should be organized and filed in one place – preferably at home – so that you do not have to worry about grabbing that file in the ten minutes you may have to gather your personal belongings after you are advised that you are being laid off. Although your firm’s Human Resources Department should have copies of all these documents and should turn them over as part of discovery in an arbitration, it will be easier if you already have them before any arbitration is filed.

While you are certainly entitled to keep documents related to your employment, you must be careful not to copy and take documents that contain trade secrets and/or proprietary information of your employer. If you do so – even if it is unintentional – the firm may be able to bring charges against you for improper conduct.

Unless you are laid off at the end of the calendar or fiscal year, you will have worked for several months for which you will not receive your annual bonus. As all who work on Wall Street know, the year-end bonus is an essential and often a large part of your total compensation package. Your soon-to-be former employer may try to tell you that, unfortunately, since you will not be an employee when the bonuses are awarded and paid, you are just out of luck. You should know, however, that ex-employees have successfully sued their former employers in arbitration for the pro-rata portion of their bonus for their final partial year of employment. Of course, each situation is unique, and any recovery will depend upon your particular circumstances.

When you receive a lay-off notice, you will most likely also be advised of the terms of the firm’s proposed severance package. These usually include some money based on the formula of one or two weeks’ salary for each full year of service. Firms often take the opportunity offered by a severance package to try and get the employee to agree to burdens and obligations that the firm could not impose any other way. These severance packages may also include an agreement not to compete, which would prevent you form soliciting your own customers, and an agreement not to solicit other employees to keep you from trying to lure away other brokers to your new employer. You will also likely lose any unvested stock and options in your deferred compensation plan.

Firms usually take a hard line with the severance package, and it can be extremely difficult to negotiate for more money, for early vesting of stock and/or options, and for relief from some of the obligations the firms may seek to impose. It is worth consulting a lawyer experienced in both securities and employment areas to explore these possibilities. Even if no concessions can be negotiated, counsel can explain to you exactly what you are agreeing to in any severance agreement and what your rights are under the law.

If you owe money to your employer on a promissory note, your firm will most likely demand repayment. Very few promissory notes have a provision that forgives the remainder of the note when there is a termination without cause. You must be ready to document all repayments made on the note and all amounts that have been forgiven by the firm. Firms take a hard line in seeking to collect on such notes and the assistance of an attorney is often essential. Many arbitrators view a termination without cause as a justification for forgiveness of such a loan. Again, the result in your situation will depend upon your particular circumstances.

Finally, if you do negotiate a severance agreement with your employer, you should ask for copies of the standard severance package and certain other documents to ensure that you are receiving at least the standard severance package. You must also be prepared to monitor your ex-employer’s compliance with the terms of any severance agreement. Our firm represented an experienced broker who signed a severance contract, and his former employer wasted no time in violating it. Last year, a FINRA arbitration panel found that the ex-employer had violated the severance agreement and awarded that broker nearly $1.7 million dollars.

Page Perry, LLC is an Atlanta-based law firm with over 125 years collective experience representing investors in securities-related litigation and arbitration. The firm also has an active practice in representing individuals in employment disputes with brokerage firms. The firm is currently involved in representing several brokers in such disputes. In the past year, the firm has won arbitration award for clients in employment disputes in the amounts of $1.7 and $3.9 million. For further information, please contact us.

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Fermilab lowers layoff estimates


Durbin working to restore some funding to retain staff

By Russell Working | Tribune reporter

Fermilab expects to lay off about 140 employees in the coming weeks—about 10 percent of the Batavia physics laboratory's staff, once retirements and resignations are factored in, an official said Friday.

The figure is lower than the 200 layoffs of scientists, engineers and other employees the lab had projected after it was surprised in December by budget cuts.

"We've had a number of people who have retired and resigned in recent weeks, and that brings the total number that we need to lay off closer to 140," lab spokeswoman Judy Jackson said.

Fermi National Accelerator Laboratory still is working out layoff numbers with the Department of Energy and will have a better idea the week of May 19, it told employees this week.

The prospect of cutbacks began when officials learned this year's budget would be cut by $52 million from an expected $372 million. That left the lab scrambling. Fermilab Director Pier Oddone described the cuts as "a bolt out of the blue."

Now the lab is hoping Sen. Dick Durbin (D-Ill.) will help restore some funding to head off the cuts. Durbin and a bipartisan group of senators are requesting an additional $350 million for the energy department's Office of Science and the National Science Foundation, saying this would help both Fermilab and the southwest suburban Argonne National Laboratory continue research and retain staff.

In a statement, Durbin said he may seek the money as an amendment to an emergency supplemental Iraq war funding bill pending in Congress. If any funding solution passes, laid-off employees would be considered first for jobs that reopen, Jackson said.

rworking@tribune.com

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Israel Post threatens layoffs


Israel Post accuses the communications minister of not implementing agreements guaranteeing the company's financial standing.

Shay Niv 11 May 08 16:00

Israel Post Company Ltd. is threatening to lay off 150 employees immediately and cancel the planned hiring of 700 contract employees as regular employees because of a dispute with Minister of Communications Ariel Atias. The company is also threatening to cut executive salaries by 10% and reduce the marketing budget because the company lost NIS 90 million in 2007, more than double the projected loss.

Israel Post claims that Atias still has not moved forward on agreements between the company, Histadrut (General Federation of Labor in Israel) and Ministries of Communications and Finance regarding the promises to guarantee the company's financial standing. The agreements were reached a year ago when the parcels market was opened to full competition.

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Hi-tech layoffs bump jobless rate


By DONNA CASEY, SUN MEDIA

The unemployment rate in Ottawa-Gatineau jumped in April, with more people pounding the pavement in a market that shed jobs for the fifth straight month.

Layoffs in the hi-tech sector caused the region's jobless rate to rise to 4.9% in April, up 0.3% from the previous month, said Vincent Ferrao, labour force survey analyst at Statistics Canada.

A total of 34,000 people said they were unemployed in April, with 1,300 jobs lost and 1,000 more people looking for work than in March.

Recent hi-tech layoffs were the source for most of the job losses in Ottawa-Gatineau, said Ferrao.

The five-month trend of rising jobless rates is in contrast with the strong growth of the same period last year, added Ferrao.


PUBLIC SECTOR GROWTH

The job bleeding in the hi-tech sector has been offset by growth in public sector jobs, with the region adding 22,000 new jobs in federal, provincial and municipal jobs, said Ferrao.

The national unemployment rate inched up by 0.1% to 6.1% in April.

Across Canada, 19,200 more people were looking for work but only 4,600 jobs were created.

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American Coal Layoffs


GALATIA -- Nearly 190 workers at a Galatia coal mine have lost their jobs.

Employees say they were given the bad news during a meeting Friday afternoon.

The American Coal Company said the layoffs are due to sudden, unforeseeable circumstances and physical distress beyond the company's control.

Employees at the New Future Mine say they were given little notice.

American Coal says the layoffs are effective immediately and are expected to be permanent.

Company vice president Robert Murray said 644 people remain employed at American Coal's New Era, Galatia North, and New Future Mines.

In November of last year, the Galatia company reduced some worker's pay by 15 percent.

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District will issue layoff notices to 100 teachers


By Bruce Lieberman
UNION-TRIBUNE STAFF WRITER

May 9, 2008

Carlsbad Unified School District trustees unanimously approved issuing layoff notices to 100 teachers yesterday in a move clouded by uncertainties over the state budget for 2008-09.


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The state faces a shortfall that some projections peg as high as $20 billion, but a final state budget is not expected until late summer or even into the fall.

That has left school districts across California making educated guesses over next year's budget. Based on the latest state funding information, Carlsbad Unified must cut $4.5 million from its budget for the 2008-09 fiscal year that begins July 1.

In February, Carlsbad Unified announced that 187 teaching positions could be cut. State law requires public school districts to issue final layoff notices to employees with teaching credentials by May 15.

The 100 layoffs in Carlsbad break down this way: 54 elementary school teachers, 34 middle and high school teachers, six counselors, five special education teachers and one school nurse.

The school district also is not planning to rehire 30 temporary teachers.

Class sizes at all levels will likely increase, but it won't be clear by how much – or exactly how many classrooms will get bigger – until teaching assignments are settled. There's still a chance that some of the laid-off teachers could be hired back, depending on how the state budget evolves, district Superintendent John Roach said.

“That's not the end of the story,” Roach said of last night's vote. “There's so much more that can happen.”

Laura Bowen, president of the Carlsbad Unified Teachers Union, said the school district needs to work harder to keep teachers.

“I think 100 is a ridiculous number compared to other school districts,” Bowen said.

Bowen said district administrators won't have a clear idea of their staffing needs until they draw up master class schedules for the coming year – matching students to classrooms and then figuring out how many teachers they'll need.

“It is time-consuming, but they need to make it a priority and sit down to do it,” Bowen said. “These are people's livelihoods. They have mortgages to pay.”

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Tally for April layoff notices by NJ employers: 2,577 jobs


by The Star-Ledger Business Desk
Tuesday May 06, 2008, 12:27 PM

The NJ Department of Labor has posted last month's listings for upcoming job layoffs on its website, and it's not a pretty picture.

The monthly total comes to 2,577 jobs cuts, with more than half coming from two hospitals slated to close, Columbus Hospital in Newark and Muhlenberg Regional Medical Center in Plainfield. Financial services firm JPMorgan Chase and logistics company Hapag-Lloyd also make appearances.

Under the federal Worker Adjustment and Retraining Notification Act, employers are required to give 60 days notice of mass layoffs at worksites. Most of the notices from April are for layoffs that will take place in June.

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Mueller Announces Temporary Layoff


SPRINGFIELD, Mo., May 6, 2008 (PRIME NEWSWIRE) -- Over the last three years, Paul Mueller Company (Pink Sheets:MUEL) has experienced annual sales growth in excess of 113%, growing from $113 million for 2004 to $241 million for 2007. As a result, the Company added over 500 employees to its Springfield operation while operating on a 24-hours-a-day/7-days-a-week work schedule. Due to the recent timing of order entry, the Company will undergo a temporary layoff of 134 employees. The Company expects to recall most, if not all, of the employees by the end of the third quarter.
Mueller is one of the leading manufacturers of processing systems and has invested extensively in equipment and personnel to expand its product and service capability, with a focus on providing its customers with a complete project solution. The Company has about 1,100,000 square feet of manufacturing space with more than 1,300 employees. The Company has qualified and experienced employees in product development, engineering, and manufacturing, and it produces stainless steel systems designed to meet the highest quality standards for a wide variety of industrial applications, including food, dairy, and beverage processing; pharmaceutical, biotechnological, and chemical processing; heat transfer and heat recovery; HVAC; and thermal energy storage and cooling applications on dairy farms worldwide.
This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance, growth, conditions or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors, including but not limited to the factors described on page 28 of the Company's 2007 Annual Report. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.

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Wednesday, May 07, 2008

Several Firms Set Layoffs in Texas


Several companies have recently disclosed pending layoffs in Texas, including a number involving more than 100 workers apiece, according to regulatory filings.

Citigroup, the nation's largest bank by assets, notified the Texas Workforce Commission in a letter received Tuesday that it will cut 125 jobs by closing an office in the Fort Worth suburb of Bedford.

Citigroup plans to cut at least 4,200 jobs this year and close eight branches in Texas and 11 in other states as part of a restructuring under new Chief Executive Officer Vikram Pandit.

Silver Line Building Products LLC, which makes vinyl windows at a plant in Garland, told the commission last week that it will begin cutting 251 jobs around June 30. The company is "substantially" reducing production at the plant and expects the layoffs to be permanent.

Dallas Woodcraft Co. said it will close its Dallas plant and eliminate 119 jobs on June 30. The company made products for Home Interiors & Gifts Inc., which sells decorating accessories through home parties but had seen its sales fall by more than half in four years, and it filed for bankruptcy protection last week.

Another Home Interiors division, Laredo Candle, said it would lay off 77 workers in Webb County on June 30.

Also, Origen Financial LLC said it will cease Texas operations and close its office in Fort Worth on July 1 and cut 96 jobs.

In El Paso, Millennium Plastics Technologies LLC indicated it would cut 185 jobs on June 30.

Accenture LLP plans to cut 95 jobs in the Houston area on July 1.

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RF Micro Announces 350 Job Layoffs


GREENSBORO, N.C. (WGHP) -- RF Micro Devices plans to lay off approximately 350 employees worldwide as a result of a reduction in the company's investments in wireless systems.

The company said it will eliminate approximately $75 million in annual expenses related to cellular transceivers and GPS solutions in order to focus on semiconductor components.

The layoffs are expected to be completed over the next six months.

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US LOSSES PROMPT DEEP CUTS OF 5,500 AT UBS


By MARK DeCAMBRE

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May 7, 2008 -- UBS, Switzerland's most prestigious financial institution, is making deep cuts throughout the firm in an attempt to shrug off some $38 billion in embarrassing writedowns and salvage a reputation riddled by losses in the US.

Zurich-based UBS is cutting as many as 5,500 staffers and seeking buyers for its institutional municipal securities group, the bank announced yesterday in its first-quarter earnings.

About half of its planned cuts will come from investment banking, an area that has been UBS' biggest bane and has led activist investors to agitate for a spin off before the unit erodes confidence in the bank's crown-jewel wealth management division.

UBS added $11.5 billion in writedowns to its growing tally yesterday - largely in line with its pre-announcements - but the bank showed signs that the Sturm und Drang in investment banking is having a withering effect on its long list of very rich clients.

The Swiss bank reported that clients withdrew more than they invested in the firm in nearly a decade - pulling nearly 12.8 billion francs ($12.17 billion).

The bank's planned sale of its municipal securities group will see the firm shed a unit it inherited eight years ago when it acquired US-based PaineWebber.

The roughly 300-person unit was a strong performer for both PaineWebber and the combined entities, but the Swiss firm's misadventures in investment banking is forcing it to focus on areas it believes it can see significant growth in the coming years, said one person familiar with the matter.

UBS has seen its shares value sink by half over the past year, prompting shareholders, including its former-CEO-turned-cage-rattling-activist Luqman Arnold, to press for change.

UBS CEO Marcel Rohner has said that the bank will "continue to rebuild" its investment banking, warning that continued pressure in markets would heavily impactits plans.

"A lot of people that feel like its crunch time," said one person who has spoken to UBS staffers.

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Saturday, May 03, 2008

The Job Market May 2008


Yesterday's jobs report (http://www.bls.gov/news.release/empsit.nr0.htm) is the press release from which much of what you read and hear is based on. It shows a less than expected decrease in jobs in the US of 20,000 plus unemployment declining to 5.0% from 5.1%.

I haven't had a chance to dig for the numbers in the current report but found them in the last one.

What you don't read about is that unemployment for people who have "some college" is 3.8%. For those with a college degree, unemployment is now 2.1%.

It lets us know that the fear of recession is driven by the fact that Wall Street (or the financial services sector) has been hit extremely hard in this slow down and that there are some specialty functions from that sector that may never come back to where they were.

The same is also true with those businesses that specialized in sub-prime lending . .. obviously, no one is rushing out to become such a lender or to borrow from such a firm.

So as far as employment, there are choices for most people in the market. Someone may lose your job as a mortgage broker or real estate agent but they can move into a different form of sales. They may lose their job pricing CDO's; they can move into a different discipline . . . obviously at a lower price. I am reminded of an earlier time of cathartic change in the economy.

In 1989, in an astonishing chain reaction, the Iron Curtain fell, first in Poland through the courage of Lech Walesa and the people of the Solidarity movement and then throughout Europe.
As peace broke out, the desire to spend money on national defense dropped and, as a result, jobs were lost in that industry.

To give an example, the defense industry designed much of their technology at that time using a programming language called ADA that was not used in the private sector. The ADA programmers, developers and their managers, needed to adapt to change and often that resulted in painful change--an ADA developer might have been making $90,000 and would need to pay for education to take a $45,000 network administration job. Some lost their homes, too.

So, as I read the current lamentations about the economy, I think of the ADA developers. As disconcerting as things are, the responsibility a person has is to get themselves going and get to work on finding work.


Jeff Altman

The Big Game Hunter
Concepts in Staffing
thebiggamehunter@cisny.com

© 2008 all rights reserved.

Jeff Altman, The Big Game Hunter, is Managing Director with Concepts in Staffing, a New York search firm, He has successfully assisted many corporations identify management leaders and staff in many disciplines since 1971. He is a retired certified leader of the ManKind Project, a not for profit organization that assists men with life issues, and a practicing psychotherapist.

He is the author of “Get Yourself Hired NOW! The Big Game Hunter’s Guide to Head Hunting Your Next Job and Every Job After That” (in ebook and audio formats) and “Get Your Job Search Organized NOW!” (ebook) Both are available at www.getyourselfhiredNOW.com Register at the site and you will receive free copies of The International Job Board List and a Guide to Resume Writing.

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U.S. job losses moderate in April


Nonfarm payrolls down 20,000; unemployment rate falls to 5.0%
By Greg Robb, MarketWatch

WASHINGTON (MarketWatch) -- Job losses decelerated in April, suggesting that the nation's economic downturn may be short and shallow rather than long and severe.
Nonfarm payrolls fell by 20,000 -- far fewer than the average 80,000 jobs per month lost during the first quarter of the year, Labor Department data showed.
The decline was much less than expected. Economists surveyed by MarketWatch expected job losses of 78,000.

April's jobless rate inched down to 5.0% from 5.1% in March. Economists had expected the jobless rate to tick higher to 5.2%.

The report suggests that the U.S. labor market didn't continue to deteriorate in April.
It may bolster the case that a pause by the Federal Reserve is in order following its aggressive campaign of lowering interest rates. But there will be another jobs report before the next Fed meeting at the end of June.

"For now, this employment trend is validating signals sent by the FOMC earlier this week to take a pause in rate cuts," wrote Stephen Gallagher, economist for Societe Generale. The report "lessens the fears of a deep, or prolonged downturn in the economy."

The construction and manufacturing sectors continued to shed jobs in April, but less-cyclical sectors such as education offset these declines.

There was little change to estimates for prior months. Payrolls growth in the previous two months was revised lower by a total of 8,000.

While jobs held up relatively well in April, other aspects of the employment report pointed toward a weak labor market.

The jobless rate fell simply because unemployed workers got jobs in April. Employment rose by 362,000. Unemployment fell by 189,000 to stand at 7.6 million.

Average hourly earnings increased a less-than-expected 1 cent, or 0.1%, bringing the year-over-year gain down to 3.4%.

"Based on the job report details, personal income growth for April will be very weak," wrote Ken Mayland, chief economist for ClearView Economics.

The average workweek fell six minutes to 33.7 hours. The factory workweek fell 18 minutes to 40.9 hours, and overtime in the sector was down by six minutes.

Total hours worked in the economy fell by 0.4%.

Sectors
Factory payrolls fell by 46,000, with the weakness concentrated in the production of durable goods.

Private-sector employment fell by 29,000 jobs in April. This was weaker than the 10,000 payroll jobs added in the month as estimated in the ADP national employment report that came out Wednesday.

Service-producing industries added 90,000 jobs last month, with stronger growth seen in health care, professional services, and leisure and hospitality industries. Temporary-help jobs rose by 39,000.

Construction jobs fell by 61,000 in April. Since its peak in September 2006, construction employment has fallen by 457,000 jobs. End of Story

Greg Robb is a senior reporter for MarketWatch in Washington.

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Thursday, May 01, 2008

Layoff letters go out to Bear Stearns staff


The other shoe — or is it an ax — is finally dropping for staff at Bear Stearns, with letters going out this week telling them whether they’ll keep their jobs when JPMorgan’s acquisition is complete.
One Bear employee who works in the emerging markets business in London has received confirmation he will be laid off, he told Reuters on Wednesday. Another in the same department said he was expecting to hear later in the day that he would be retained.
“Some individuals and some businesses are beginning to hear what their status is,” added a source close to the bank.
A third London-based staffer who does not work on a trading desk, but on the business side said: “I’m waiting for my letter from JPMorgan to see about a job offer. I’ve been told verbally there is a job for me, which is a great relief.”
The total number of layoffs is not yet known, but more than half of Bear Stearns employees are expected to lose their jobs. JPMorgan CEO Jamie Dimon has declined approximately one thousand times to give details.
Not that it will come as much consolation to axed Bear Stearns employees, but executives including co-head of fixed-income Jeffrey Mayer, co-heads of equities Steven Meyer and Bruce Lisman, and former CEO Ace Greenberg are known to have survived the purge. CEO Alan Schwartz, CFO Sam Molinaro, controller Jeffrey Farber and general counsel Michael Solender may also eventually accept employment with the bank, according to a U.S. Securities and Exchange Commission filing.
The New York Times reported over the weekend that Ace Greenberg, who started as a Bear Stearns clerk in 1949, is gifting $360,000 to 25 longtime mailroom and clerical employees — $200 a month over six years. Greenberg “has sold over $30 million in Bear stock since early 2007,” the Times reported.

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GM to lay off 3,550 at 4 pickup truck and SUV factories


he dwindling U.S. auto market and an accelerating shift from trucks to cars has brought grim layoff news to four General Motors Corp. factories.The company announced Monday that it plans to cut one shift each at pickup truck and large sport utility vehicle plants in Flint and Pontiac, Mich.; Janesville, Wis.; and Oshawa, Ontario, resulting in about 3,550 layoffs.
The world's largest automaker by sales said the cuts, to take effect this summer, were brought on by weak demand due to high gasoline prices and an economic downturn.GM said it will make about 88,000 fewer pickups and 50,000 fewer big SUVs this calendar year because of the cuts. The layoffs represent just over 4 percent of GM's hourly manufacturing work force of about 80,000 in North America.
The announcement came after stock markets closed. GM shares rose 56 cents, or 2.6 percent, to $21.94 Monday, then lost 3 cents in after-hours trading."With rising fuel prices, a softening economy and a downward trend on current and future market demand for full-size trucks, a significant adjustment was needed to align our production with market realities," GM North America President Troy Clarke said in a statement.For about the past three years, the U.S. auto market has been shifting from pickup trucks and SUVs to cars and crossover vehicles, but the trend picked up in recent months due to gas prices that have reached $3.60 per gallon, on average.GM expects the layoffs to begin July 14 at the Flint, Janesville and Pontiac plants, and Sept. 8 at Oshawa. Most of the factories had already seen layoffs and production cuts due to a parts shortage from a two-month strike at American Axle and Manufacturing Holdings Inc.GM spokesman Tony Sapienza said the company will eliminate shifts with 750 workers each at Flint and Janesville, 1,150 workers in Pontiac, and 900 workers in Oshawa. Final numbers must be worked out with unions, he said.Laid-off workers will get unemployment benefits and supplemental pay that total 80 percent of their normal 40-hour gross pay, said GM spokesman Dan Flores.Greg Gardner, an analyst with the Oliver Wyman Group, said the cuts look like "a realistic assessment.""The full-size pickup and SUV market is not going to rebound anytime soon," he said. "It looks like that they don't plan on making up very much of the production loss due to the American Axle strike."Gardner said GM's announcement reflects the industry's overall production forecast this year, down to about 15 million light vehicles from an earlier forecast of 15.5 million.The Flint, Pontiac and Oshawa plants make the Chevrolet Silverado and GMC Sierra pickups, while Janesville manufactures the Chevrolet Tahoe and Suburban and GMC Yukon big SUVs.GM said it did not forecast how many of those vehicles it expected to make this year, but it sold about 1.1 million of them in the U.S. last year, according to Autodata Corp.GM said pickup sales overall are down 15 percent through March, while sales of large SUVs are off 26 percent.Jesse Toprak, chief industry analyst for the auto information site Edmunds.com, said GM has a 92-day average supply of large trucks. A 60-day supply is considered optimal in the business.Toprak said the automaker will lose about $4.4 billion in gross sales because of the production cuts, but it's nearly impossible to determine the impact on GM's net profits.The production cuts should help GM keep its inventory under control, said Catherine Madden, an analyst with the consulting firm Global Insight.The cuts come as 74,000 U.S. workers represented by the United Auto Workers face a May 22 deadline to decide on GM's latest round of buyout and early retirement offers.

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