job losses

[lamboguy]

the job losses seem to picking up steam. these are big company's losing jobs. chrysler cutting 18k, goldman sacks 3500.

i wonder why they waited until after the election to anounce these numbers that they knew existed for a long time.

[Tom]

Last Friday, GM cut contract positions by 25%.
Many in the fuel cell area.

[chickenhead]

at my place the blood isn't quite ankle deep, but the carpet is definitely stained, it will have to be replaced once we get some more cash. And unfortunately there is still the ever present sound in my department of axes being sharpened :eek:

My group is targeted for outsource, not out of the country, just out of the firm, to a low cost third party sweat shop. I suspect it will fail miserably, but I don't really blame them for trying. It will save cash in the short term. Who knows, maybe I can get the third party to give me a nice consulting contract.

[JustRalph]

the job losses seem to picking up steam. these are big company's losing jobs. chrysler cutting 18k, goldman sacks 3500.

i wonder why they waited until after the election to anounce these numbers that they knew existed for a long time.

you are kidding right? Wonder what could have happen in the last few days that could have made their decision for them?

[Tom]

Local plastics plant here dropped 75% of its people over the last two months.
They were tied heavily into Valeo/Chrysler. Not a good customer mix these days.

[HUSKER55]

GM will close another plant here by the time suppliers and etc are added up I expect it to hit 5000 to 7000. Depends on which report you read.

[Boris]

This should make the class warfare crowd feel a little better.

CEO Turnover Skyrockets

As the economy continues its volatile ride, chief executive turnover has reached the highest nine-month total on record and is on a pace to surpass the 2006 year-end record, according to a report by global outplacement and executive coaching consultancy Challenger, Gray & Christmas Inc.

So far this year, 1,132 CEO departures have been announced, a 9% increase from the 1,043 CEO exits recorded through September 2007. At this point in 2006, which saw a record 1,478 CEO changes, departures totaled 1,112.

If CEO changes continue at their current level, we could surpass the 2006 total before the end of November. With many companies, including banks, retailers and manufacturers, at risk of takeover or failure, the odds of further CEO departures are high.

September CEO turnover data showed that 140 CEOs left their posts last month, nearly matching the 144 departures recorded in August. The September total was 25% higher than the 112 CEO exits in the same month a year ago.

Of the 140 CEO departures in September, only 35 were retirements. Forty-four resigned and another 31 stepped down. The health care sector saw the heaviest turnover, with nearly 41% of the 27 September departures resulting from retirement.

Meanwhile, the tumultuous financial sector had 18 CEO changes, with 12 (66.7%) resigning, stepping down or falling victim to bankruptcy and the credit collapse.

[ddog]

typical, rats bailing from the sinking ships.

sadly most will not go to prison.

the old boys network of the ceo and boards will take care of themselves just fine.

[prospector]

NO more bailouts...
heard we have to borrow half of the last bailout...that's insane