Layoffs Du Jour
200...First Federal Bank
First Federal Job Loss
La Crosse
Feb 23, 2005
It's been four months since Associated Bank bought First Federal, and now Friday will be the last day of work for almost 200 local first federal employees. Green Bay-based Associated Bank announced in September it's acquisition of La Crosse-based First Federal would lead to job cuts. As a result, Friday will be the last day for 190 first federal employees. Associated plans to sell its building in downtown La Crosse and consolidate it with the downtown First Federal building. A similar plan will also happen in Onalaska.
wxow.com
190....Palatine School District
Shocked District 15 eyes cuts
By Nadia Malik Daily Herald Staff Writer
Posted Thursday, February 24, 2005
A day after voters narrowly rejected a tax increase in Palatine Township Elementary District 15, the teachers union, administration and attorneys sat down to begin the painful process of making staff cuts.
"The morale is just at rock bottom," said Jan Belzer, president of the Classroom Teachers Council, the union for District 15 staff. "People are in the buildings crying today; the district office is just so sad."
Belzer said the union will help determine which teachers will lose their jobs after the district runs out of reserve funds at the end of this school year
dailyherald.com
340...Wescast Industries
Wescast job cuts spare Strathroy plant
NORMAN DE BONO, Free Press Business Reporter and CP 2005-02-24 03:28:48
Wescast Industries Inc. is cutting 340 jobs with the closing of its Brantford foundry but no jobs will be lost at its Strathroy plant. The automotive parts manufacturer, which employs more than 300 at Strathroy, cited growing competition from Chinese parts makers for folding its Brantford production into its foundry in Wingham, Ed Frackowiak, Wescast chairperson and chief executive, said yesterday.
"We have two matching facilities which were not being used to capacity and we needed to consolidate," he said, adding that Chinese competitors offer a 30-per-cent cheaper product.
"The reality is we will not be as profitable, but we will be competitive."
The consolidation will save Wescast $25 million.
canoe.ca
12...Cardinal Brands
Topeka Job Cuts
Lori Hutchinson
A Topeka business is cutting more than a dozen jobs.
Cardinal Brands, which owns Adams Business Forms in Topeka, has announced a manufacturing realignment.
Fifteen to twenty jobs could head to Mexico. But, at the same time, operations currently in Independence, Missouri, could move to Topeka.
The company employs 213 workers in Topeka.
wibw.com
18....Anaconda Schools
Anaconda teacher layoffs, cutbacks coming
By Vera Haffey of The Montana Standard - 02/24/2005
ANACONDA — Teacher layoffs and curriculum cutbacks are in store for Anaconda schools, as district-wide belt tightening continues because of an enrollment plunge and corresponding drop in funding.
The district's 18 non-tenured teachers will receive official layoff notices soon. While that's a standard practice each spring as budgets are worked out, most of those people will not get their teaching contracts renewed, according to Superintendent Jim Whealon.
"The best we can possibly hope for is a way to bring back four of the 18," Whealon said this week.
mtstandard.com
20...American Welding
# Ottumwa Courier - News - 02/23/2005 - Steel woes prompt Bloomfield layoffs
Ottumwa Courier - Feb 23 8:32 AM
BLOOMFIELD - More than 20 local workers are losing their jobs thanks to a volatile steel market. American Welding and Tank Co. in Bloomfield told its workers about the layoffs recently.
ottumwacourier.com
100....Santa Cruz schools
February 24, 2005
S.C. school layoffs could reach 100
By JEFF TOBIN
Sentinel Staff Writer
Full-time and temporary positions are on the budget chopping block this year in Santa Cruz, but the situation could be brighter for administrators worried about their futures.
The Santa Cruz City Schools board voted 4-2 to give notice to almost 100 full-time and temporary employees they could receive a pink slip.
santacruzsentinel.com
500....Quintiles Transnational
Published: Feb 24, 2005
Modified: Feb 24, 2005 5:32 AM
Quintiles leaders get bonuses
The company has achieved profitability since going private, in part by layoffs
CEO Gillings, who took the company private, gets the biggest bonus.
By SABINE VOLLMER, Staff Writer
Six senior executives at Quintiles Transnational will receive about $1.825 million in bonuses for a job well done last year, according to a regulatory filing.
The Durham pharmaceutical services company will pay Dennis Gillings, its founder and chief executive, a $650,000 bonus, the filing with the Securities and Exchange Commission shows. Ronald Wooten, executive vice president of corporate development, will receive $600,000.
Gillings, who was the driving force behind a management-led buyout that took Quintiles private in September 2003, owns about a 20 percent stake in the company, SEC filings show. He is the largest shareholder behind four institutional investors that helped finance the buyout.
The bonuses come as Quintiles has improved its financial health since the buyout but continues to cut expenses. Quintiles, which helps the pharmaceutical industry test and sell new drugs, last year reported its first profitable quarter since going private.
Quintiles also started restructuring its work force last year. More than 500 employees, or about 3 percent of Quintiles' worldwide work force of 17,000, will lose their jobs.
newsobserver.com
500....Citigroup
A year of layoffs
Citigroup has laid off 1,445 people in the Des Moines area since last April.
APRIL 2004: 105 cut after partial shutdown of former West Des Moines Sears Roebuck & Co. credit card facility.
JULY 2004: 390 laid off at Walnut Street after purchase of home mortgage business of Principal Financial Group Inc.
AUGUST 2004: 450 jobs lost after closing remaining business at Sears facility.
WEDNESDAY: 500 people laid off after portion of CitiCard closed at 4300 Westown Parkway .
Citigroup to trim 500 more jobs
Workers predicted to find new positions in D.M. area
By S.P. DINNEN and WILLIAM RYBERG
REGISTER BUSINESS WRITERS
February 24, 2005
Citigroup Inc. plans to cut 500 more jobs in the Des Moines area, landing another punch to the local economy.
Since April 2004, the financial services company has announced plans to eliminate 1,445 jobs in Des Moines and West Des Moines.
Citigroup told employees Wednesday that it will cut 500 of the 925 jobs at a credit-card processing facility at 4300 Westown Parkway in West Des Moines. The jobs will move to other states between this spring and the end of March 2006 as the New York-based company consoli- dates operations in other states.
At the Citigroup offices in West Des Moines, one employee leaving work for the day said he was disappointed by the announcementhttp://desmoinesregister.com/apps/pbcs.dll/article?AID=/20050224/BUSINESS04/502240410/1029/BUSINESS
40,000....Mittal Steel or 8,000 a year
STEEL INDUSTRY
Mittal plans to slash jobs worldwide
By MATTHEW CRAZE
Bloomberg News
2/24/2005
CHICAGO - Mittal Steel Co., set to become the world's largest steelmaker next month, may shed as many as 8,000 jobs a year through 2010 to cut costs after the purchase of International Steel Group, the company's owner said.
"We want to focus on cost," Lakshmi Mittal, the company's billionaire owner, said Wednesday at a meeting with analysts and investors in Chicago that was broadcast on the company's Web site. The work force may shrink to "110,000 employees after five years" from about 150,000 after the ISG purchase, he said.
buffalonews.com
1,400....UPS
UPS to Close Hub in 2006, Laying Off 1,400
By JAMES HANNAH, Associated Press Writer
DAYTON, Ohio - UPS Inc. will close its recently-acquired freight sorting hub in Dayton in 2006, eliminating 1,400 jobs, the world's largest shipping carrier announced Thursday.
The facility is its only sorting hub for heavy airline freight. A new hub for handling cargo weighing more than 150 pounds will be built at another UPS facility in an effort to improve efficiency, said Norman Black, spokesman for the Atlanta-based UPS.
news.yahoo.com
This sure seems like a lot of jobs.
Is there a trend here against resisting increased property taxes to support schools?
I am flabbergasted that this economy can keep ticking on with these job losses and the only apparent replacement jobs are at Walmart and Home Depot.
Mish |
