Boeing, a Las Vegas business, and 21 other companies announced layoffs following President Barack Obama’s victory last week.
Unemployment had been hovering around 8 percent in recent months, with signs of a stronger job market.
Immediately following the outcome of the election Boeing announced a major restructuring of its defense division. Boeing will cut 30 percent of management jobs from 2010 levels, close facilities in California and consolidate several business units to cut costs, according to Reuters.
“Boeing, the Pentagon’s second-largest supplier, said the changes were the latest step in an affordability drive that has already reduced the company’s costs by $2.2 billion since 2010,” Reuter reported from a memo obtained by the news service.
Whether through sequestration or the administration’s commitment to cut defense spending, Boeing apparently saw the handwriting on the wall. It made the decisive call in an effort to cut costs and preserve profit margins.
“In a message to employees, Dennis Muilenburg, chief executive of Boeing Defense, Space & Security, said the company aimed to cut costs by an additional $1.6 billion from 2013 through 2015.” Those cost-cutting measures equate to job cuts through that period.
More American workers received pink slips following last week’s election. A Las Vegas business owner with 114 employees fired 22 workers, as a direct result of President Obama’s re-election.
The business owner stated to KXNT radio that “elections have consequences” and that “at the end of the day, I need to survive.”
On Friday, an additional 21 businesses said they would be laying off employees to curb costs and expected tax hikes to businesses.
Some of the companies announcing layoffs include: Smith & Nephew - 770; Abbott Labs - 700; Covidien - 595; Kinetic Concepts - 427; St. Jude Medical - 300; Hill Rom - 200; Welch Allyn - 275; Stryker - 1,170; Boston Scientific - between 1,200 and 1,400; and Medtronic - 1,000 layoffs.
These reactions are, in the short-term, going to add to the huge number of unemployed Americans, while the economy sputters along.
Keith Hansen
Comments (53)
Add commenthttp://mediamatters.org/blog/
http://mediamatters.org/blog/2012/11/09/fox-exposes-obamas-war-on-cheese...
Funny stuff...
Dispatch readers can just follow the latest slanted Fox News headline to catch what editorial work will be coming on the BDD next. "Foxy" Keith apparently hasn't looked in the mirror after the election results yet, people want real work to fix the real issues--not the beginning of a four year march for campaign 2016!
Fox News related...Research yet again being Shared...
Enjoy...
http://www.salon.com/2012/10/28/aaron_james_excerpt/
So Boeing laying people off
is a Fox news lie?
They wanted to announce layoffs before the election and the Godfather had his hoodlums threaten them to gain silence.
Smith and Nephew company failure facts.
"In light of the recent Smith & Nephew hip recall, as well as the growing concern surrounding metal-on-metal hip implants in general, it’s not surprising that the company saw a decline in sales in the last quarter."
And whom should we blame for their failures? Oh, of course, the guy elected to office.
http://www.prweb.com/releases/Smith-Nephew-Hip-Recall/Metal-on-Metal-Hip...
"It made the decisive call in
"It made the decisive call in an effort to cut costs and preserve profit margins."
Pure greed. Companies are just worried about profits. Big gov. should take them over and run 'em like Amtrak.
Barry's gonna raise taxes on those darned rich people(you).
That'll fix everything.
another lay-off announcement
SAS International has announced -- 6000 jobs lost.
This is based in Britain, so you will have to figure out
how and if it affects this country.
In one way, this is good for the Media George Soros Matters
group along with PMSNBC and Salon , you may be learning
about some new companies that you hadn't heard of.
To think that Media Matters has as their obsession Fox, Rush, Hannity and people read the site and don't confirm
the information that they are spreading. Why get the information from Salon, Media Matters , why not look
at something yourself and make up your own mind?
A business has advisors such as accountants, and lawyers
that at this time of year, advise them for the future.
Defense contractor, medical device, and coal are all no brainers for lay-offs. Many restaurant owners are doing the same right now.
By the way, thanks to the restaurants that gave free meals to veterans.
Hansen Is A Partisan Hack
Once again Mr. Hansen puts out Fox News lies and his mindless followers just lap it up. Pitiful and shameful.
Definition of a Partisan Hack:
"Someone who cares more about supporting a particular party or ideology than supporting what is morally right, or factually true."
It's kind of a Catch22 with
It's kind of a Catch22 with Boeing. The article says that Boeing is the Pentagon's second largest supplier. Basically, the money they pull in from government contracts pays a lot of salaries. We want the government to cut spending and find more efficient ways of doing things. That has to be passed down to the businesses they buy things from at some level. If the government spends less money buying things (as we, the public, demand) then the companies pull in less money, and in turn they lay off workers and try to find ways to increase efficiency. It's really too bad that the result has to be that people find themselves out of work though. That isn't helpful either.
So what is the answer? How do we strike the balance where our tax money is not wasted while preserving the most jobs. I think we first need to realize the value of all jobs, be they high paying or low, private sector or public. And then we need to spend money to make money, but we need to do it wisely. The economy is a big circle and we are all dependent upon one another to keep it rolling.
Elections have consequences = US Congress Great Plan ?
What happened to the old Keith Hanson fiscally backed philosophy of "cutting our way to a prosperous economy " ?
Maybe somebody should remind Keith & his cult following that Congressional uncertainty is killing jobs !
Grovers Ns tax pledge signers will be the death of all.
Were these layoffs already planned?
And someone just uses the election results for a good soundbite. From Keith's own writing it sounds like Boeing has been cutting costs for over two years. I would also be willing to bet the guy that said that to the radio station would still have laid people off if Romney had won. Also, is there a list of businesses that have just hired or announced hiring recently? I am willing to bet there is but some with selective thinking would never have thought of that.
Well the Dems are in charge,
just pass a regulation that allow no more layoffs!
I will post when I see when a
I will post when I see when a business is hiring.
As far as Boeing is concerned,I remember Boeing expanding in South Carolina and the National labor relations board sued South Carolina on behalf of union labor even though it is a "right ot work" state. That would be the machinist union.
When the machinist union finally got their contract, the NLRB
dropped their lawsuit. The plant in S.C. didn't take away any
jobs.
The unions at Boeing seem to dictate to owners .
Look it up, if you care. This may have something to do with
lay-offs, but more than likely, the looming defense cuts
is what did it .You know because of the fiscal cliff that no one knows about.
LLR
Better yet, an executive order .
who is hiring?
Just where is that list of companies that are hiring?
Why don't you find it? If one is looking for a job, they
know where to look.
I will try to find some this week. Many companies are looking
to hire veterans, and that seems to be working out.
There are lists, you have to find them yourself.
Hire Veterans Job Site
http://www.hireveterans.com/
Hey, everyone.
Look on the bright side. In a few more years, the Chinese will be outsourcing jobs to America.
sadie
"I will post when I see when a business is hiring." Then you posted 2 more times. That must mean businesses are hiring. An awful lot of sour grapes are being harvested too.
Trip
GOLD STAR for that!!!!
Now, now, Nancy Lee.
You used to be so congenial. If you want to be considered for an outsourced job doing piecework in the Baxter province, you'll have to change your attitude. No negativity here.
Sheesh
Where do you all think those 350,000 new unemployment claims come from each week, Keith????? We have such groundbreaking insight here. Just more fear mongering..
Good framing of the problem, OkeyDokey.
Good framing of the problem, OkeyDokey. "So what is the answer? How do we strike the balance where our tax money is not wasted while preserving the most jobs."
If we are no longer at war with Iraq and Afghanistan, it makes sense to reduce our military thus reducing spending on the military. The US military will still be the "strongest in the world", but that is still accomplished even within reductions.
So how about taking a similar amount of money (we somehow found it when we thought we needed it in Iraq) and spending it on the infrastructure of the US? How about bridges? sewer and water systems? internet speed and access? roads and highways? public schools and libraries? alternative energy policies?
We could put a lot of people to work and actually have something to show for ourselves in the end.
Just reread this complete
Just reread this complete strand and think this is one of the more productive discussions I've seen on the Dispatch open forum. Could it be that some of the more volatile posters haven't been reading this one?
Reply to Nanlee
In a post from early November you pointed out that I had made a mistake about when nylon was first made. I didn't take the time to get the exact date which was not the point. The point was a compound is introduced to nature that never existed before and sometime after a bacteria is found digesting it! To see if it would happen again researchers put different types of bacteria in a nylon rich environment and viola they had a different type of bacteria digesting nylon - a synthetic compound that didn't exist on earth until the 20th century! The point was evidence for evolution in front of your eyes - and happening in front of us -contrary to what the numnuts say when saying that "evolution has never been observed".
The Election caused layoffs already?
Get real. Keith and most of you sheep think a company as huge as Boeing, with thousands of accountants and project planners, decided since Wednesday morning to cut jobs?? Nothing happens in an organization that size without months and months of planning. Boeing just got a bunch of new orders for passenger planes recently, so clearly the military side must have fewer orders (fewer wars, remember) so they need fewer workers. Now I suppose no war is going to become a bad thing.
Sorry P B GF
Off the subject but inquiring mind's just have to know. Paul Bunyan is a big man so how big is his G friend??
& just a little reminder. Sheep live in flock's like lib's.. Really no kidding. So easy on calling a Conservative sheep. We dont eat till we tip over & Call al the freak (congressman) & say baaaaaaaa!!! Then demand help.
Nan ya still have that flashy thing going on?? Hee Hee just kidding my favorite lib!
None of your business
Never ask a lady her weight or her age. Love me for my mind, not my body.
Sheep are followers. Because they are stupid and don't inquire where they are being led, they just do as they are told. Like all conservatives. If Karl Rove says vote for this worthless human being, they turn out by the thousands. If Glen Beck says buy end of times food supplies, they all go to Wallmart and invest. And whatever Rush is bellowing about, they all follow the noise. Don't ask questions, just do it. Keeps life simple. The problem is, these quasi-leaders, very few who have any education, are in it for the money, not the outcomes. Bill O'R has already started moving to the center because he knows that's where the money will be. Glen and Rush would have just as easily spouted liberal noise if that would have been popular when they started. They spout family values and marriage, but most of them have had multiple wives and girlfriends. No convictions, just looking for the $$$. And you choose to follow them! Sheep!!!
Surprised-
the Dispatch hasn't laid it's editor off...
Lady?
???? Prove it.
Crow Wing County did vote Republican.
And 81% voted compared to 75% statewide.