Job Losses Continue
We may be ready for some good news, but it looks like the bad news is hanging on, and a lot of it is in the area of jobs.
Yesterday it was indicated that Yahoo would be cutting more positions on top of some already eliminated, to the tune of “several hundred”, which doesn’t sound voluminous for a company its size. Yet, it comes on the heels of UBS (Swiss bank) announcing layoffs of 8,700 employees, Air France-KLM eliminating around 3,000 jobs, and the CEO of Fiat, Sergio Marchionne, stating that either the unions of Chrysler drastically reduce labor costs, or they’ll back out of the deal of buying into Chrysler, which, if the deal isn’t made, will probably have to declare bankruptcy. He had already said that if Fiat bought into Chrysler that some plants would close.
You want more? I know the answer is no, but we might as well see what’s coming. Discover Financial Services is eliminating 500 jobs. Hallmark Cards is eliminating up to 750 jobs. Lufkin eliminated 10% of its job force. That’s just for starters.
New York state is planning on eliminating over 4,000 positions. Many other states will be losing jobs as their economies are in despair. Washington state just announced their unemployment figure is up to 9.2%; it’s probably going higher, unfortunately.
All that, and it’s tax day; great times, America. The worst thing anyone could do today is not file their taxes. Paying them is another story. Supposedly the IRS is saying that if people file, they’ll give them a break if they can’t pay those taxes today. All they really want is someone to inform them and then they’ll work with you. They say just pay something if you can.
Wow, a kinder, gentler IRS? I guess even they know one can’t get blood from a turnip. Hang in there, world; good times really are just around the next bend.