8 Layoff Announcements Posted in Recent Hours On LBN

[Merlin]

And the Fed is worried about an overheating economy???

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http://www.miami.com/mld/miamiherald/business/national/9374030.htm?ERIGHTS=6724440221901702032miami::[e-mail]&KRD_RM=3lompljsjkmjnjjjjjjjjlmlj|Blam|Y

Posted on Wed, Aug. 11, 2004

Danville manufacturer lays off 375
Associated Press

DANVILLE, Va. - Two months after laying off 312 workers, textile manufacturer Dan River Inc. announced Wednesday it will cut 375 more starting in October as it closes two plants.

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http://www.forbes.com/home/feeds/ap/2004/08/11/ap1501346.html

Associated Press

Norshipco Will Furlough 400 Employees

08.11.2004, 06:28 PM

Norshipco plans to furlough half its work force, or about 400 employees, by the end of September due to the Norfolk shipyard's light workload.

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http://www.wilx.com/news/headlines/919317.html

GM Layoffs

Aaron Baskerville

More layoffs are scheduled to hit the Lansing Car Assembly Plant later this month. General Motors officials point to slow fleet sales for the shutdown.

Starting Aug. 23, the Lansing Car Assembly Plant will shutdown for three weeks until Sept. 13. GM officials say 2,200 workers will be laid off during that time.

The plant makes the Pontiac Grand Am and the Chevy Classic. GM officials say during the shutdown, there will be limited training for maintenance work at the plant.

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http://chicagobusiness.com/cgi-bin/news.pl?id=13487

August 11, 2004

Sears details savings from job cuts

But analyst says boosting sales is real key

By Rita Chang

Sears, Roebuck and Co.’s plans to slash thousands of jobs and revamp its information technology operations will produce annual savings of $55 million to $65 million, the company said in a public filing.

The Hoffman Estates-based retailer won’t realize those savings in full this year, however, because it took a $41-million pretax charge in the second quarter related to severance costs.

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http://www.miami.com/mld/miamiherald/business/national/9375487.htm

Posted on Wed, Aug. 11, 2004

La-Z-Boy to close Caldwell County plant, temporary layoffs

Associated Press

La-Z-Boy Inc. will lay off 645 workers by closing permanently three manufacturing plants and idling a North Carolina plant while the furniture giant accelerates its plans toward more production overseas.

The Michigan-based company announced this week it would shut down its Kincaid plant in Hudson next month, laying off 120 workers temporarily while La-Z-Boy's domestic solid-wood furniture production levels are determined

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http://www.wate.com/Global/story.asp?S=2160494

ClientLogic Corp. in Oak Ridge plans to layoff 230 workers

August 11, 2004

NASHVILLE (AP) -- Fulfillment company ClientLogic is laying off 230 workers in Oak Ridge.

A memo by the state Labor Department shows the layoffs are expected to begin September 16th. The state was notified of the company's plan in July.

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http://seattlepi.nwsource.com/business/apbiz_story.asp?category=1310&slug=Citigroup%20Jobs

Wednesday, August 11, 2004 · Last updated 8:39 a.m. PT

Citigroup to layoff 450 workers in Iowa

By RYAN J. FOLEY
ASSOCIATED PRESS WRITER

DES MOINES, Iowa -- Citigroup Inc. will close a credit customer service center in suburban Des Moines next year, laying off 450 workers, as the New York-based financial services giant continues to slash jobs following last year's purchase of Sears' credit and financial services arm.

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http://ydr.com/story/business/36607

CROWN AMERICAN

Layoffs have local impact

Wednesday, August 11, 2004

The Crown American Hotels will conduct employment terminations during a 14-day period that started Tuesday and continues through Aug. 23, according to a notice filed with the Pennsylvania Department of Labor and Industry.
The action affects 115 employees at the Holiday Inn Holidome.

The layoffs had been postponed. A previous announcement stated that the layoffs were expected sometime between July 9 and July 22.

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[Kool Kitty]

1. Look, the economy has turned the corner!

And walked right out in front of an oncoming train.

[DBoon]

2. Rich people are spending too much

so we have to take money away from the poor to compensate.

[JNelson6563]

3. I just scanned LBN and saw that!

I thought it would be good for the supply-siders/voo-doo economic cheerleaders should scan this compilation of fresh headlines and tell us again how things are so great.

Julie

[dflprincess]

4. General Mills laying off as well

I did a google and also checked the Minneapolis paper but couldn't find anything on this. I have a friend who has worked at their Golden Valley office for years, she was just given notice that she will be laid off in a month. She isn't sure how many people are getting this notice - but she did say there were "several" people in her department.

[amerikat]

5. All posted by the same DU'er

I guess upinarms is trying to make a point.

[Merlin]

11. Thanks for picking up on that.

I didn't notice it.

[Philosophy]

6. Hey, I worked for ClientLogic

For two weeks last summer. Took tech support calls for BellSouth DSL. Hated it and quit.

[DeepModem Mom]

7. kick

[allemand]

8. Paul Krugman in his most recent column:

"Oh, and on a nonpolitical note: even before Friday's grim report on jobs, I was puzzled by Mr. Greenspan's eagerness to start raising interest rates. Now I don't understand his policy at all."

http://www.pkarchive.org/column/081004.html

[Lerkfish]

10. interesting....Greenspan kept raising rates at the end of Clinton's term..

And his stated reason THEN was that the economy was growing TOO quickly and the rates kept getting raised to slow it down.

Then, as soon as Dubya was in office, Greenspan kept cutting the rate to head off a recession...

now that we're in a recession, by his past logic, should the fed rate be lowering again?

*scratches head*

[NewJeffCT]

9. another huge one not listed here - 3,000 by St. Paul-Travelers

http://www.ctnow.com/business/hc-travcuts0812.artaug12,1,7849546.story?coll=hc-headlines-business

St. Paul Travelers Cos., the insurer formed in the April merger of Travelers Property Casualty Corp. and The St. Paul Cos., has set a goal of cutting an additional $100 million from expenses starting in 2005.

The cuts would be on top of projected cost savings from the merger of $468 million, CEO Jay Fishman told investors in Wilmington, Del., Wednesday.

The additional savings would probably come largely from using fewer law firms and reducing advertising, among other things, he said. The company has already said it plans to cut about 3,000 jobs or 10 percent of its workforce

[LuCifer]

12. HAPPY DAYS ARE HEAR AGAIN!

Can't you feel the economy picking up stregnth like a hurricane aiming for the FL panhandle!