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 commentarlopankook
Can't lay him off yet. He just got his letter of reprimand 2 weeks ago. Besides, he's a professional journalist, ya know. LOL.
Charlie
Get you're deer?? Unlike that old coot 2 posts before ya.
Get Your Deer Yet
I must be an older coot than him. Saw three big bucks, shot three times, missed three times. Must be that darn Bush.
twilight,
gloat with your snowy friend all you want. You libs got everything you said you needed to fix everything known to man without hurting the "Middle Class". No more "It's Bush's Fault" no more "It's the nasty party of no"
Prove it now, I dare you and daresay you you can't.
Don't try to destroy the Constitution either becaause you will lose.
Only by a couple
Yrs. Ohh am I going to pay for that. NEXT YR. Wait can you hunt zone 1? I be getting old & they change things alot.
BTW Would you like too know the size of Paul Bunyan's woman?? If she claims to be Pauls woman on here??
Are you talking about
Large Marge?
We didn't re-take the House.
So it will be interesting on CSPAN.
Smart aleck's, deer and the real PBGF
Trip, you should know by now that I'm a smart a**, ask OFB. Our hunting party filled out. 4 in the party.
Charlie needs a new gun, someone with a steady arm or rope to tie up his deer next year.
The real Paul Bunyan's girlfriend lives in Hackensack. Her name is Lucette.
Geeeeeeeeeez, do I have to teach you guys everything? (snickering)
OFB
"Nan ya still have that flashy thing going on?? Hee Hee just kidding my favorite lib!"
Too cold for that flashy thing, LOL
LOL NAN
I always knew you was a FUN woman!!!!
Charlie
Check out Keith's article in the Sun paper. A Vet's Vet.
OFB,
when you got close to the old Maple Leaf it was never too cold for those women. Don't let her fool you!
Layoffs
Obama got elected by demonizing success. He told successful business owners "You didn't build that". He told the people paying the highest taxes that they "aren't paying their fair share". He constantly complained about the "big corporations". Is it really so hard to understand why the stock market had its worst day of the year the day after the election? If you were the head of a corporation and knew you had 4 more years of an anti-business president and senate, would you really go out and start hiring more employees? Businesses will continue to hoard cash instead of using it to hire and grow as long as they fear their government is out to get them instead of getting out of their way.
Good to see that Keith is remaining true to his "convictions" -
here's another P.O.V.: http://urbangrounds.com/2012/11/boeing-layoffs/ Did your employer actually give you a few more months to do (whatever it is you do do) this (censored word) here? Too bad, but we'll keep reading whatever b.s. you shovel into the paper. (For a little while, anyway -- just don't think you can turn on some switch sometime soon and "charge us" actual money to read this stuff.)
The above is a quick check to see if anyone actually reads . . .
any of this. Bubbie Yumbette
We haggle over compensation for our brave police, fire-fighters,
teachers . . . and we have no problem at all with the salaries paid to the richest "takers" in the military-industrial complex: (Reuters) - Boeing (BA.N) Chief Executive James McNerney had total compensation valued at $22.96 million last year, up 16 percent from 2010, as earnings rose and the company had successes that included winning a big U.S. Air Force tanker competition.
McNerney, 62, who has been chairman and CEO of the second largest plane maker since July 2005, had a salary of $1.93 million, unchanged from 2010. His compensation . . ."http://www.reuters.com/article/2012/03/16/us-boeing-idUSBRE82F19X20120316
Mr. McNerney's salary information. Boeing is pd. by taxpayers.
http://www.reuters.com/article/2012/03/16/us-boeing-idUSBRE82F19X20120316
COMPANIES HIRING
Exelon - 500 jobs
Progressive Ins. 100 jobs
AT & T - 1000 jobs
Wells Fargo 4500 jobs
Graybar -- 130 jobs.
Will Sheep Ever Learn?
Here we go again, conservatives spouting factually challenged statements:
"Obama got elected by demonizing success".
No, he did not demonize success. Who characterized Romney as a Vulture Capitalist? It was not Obama!!!
"He told successful business owners "You didn't build that". "
No, that is not way Obama said. If you took the time to either read or listen to the entire speech rather than rely on your conservative sources you would know he was NOT talking about them building their business. He was talking about the roads and infrastructure those business owners used to build their business.
"He told the people paying the highest taxes that they "aren't paying their fair share".
That is a true statement. The share paid by the upper brackets has been declining ever since Reagan. Their incomes have risen faster than any other group and they pay a lower % of their income for many decades. Romney paid 13.9% income tax rate and he thought that was fair. Many middle income earners pay a higher percentage. Is that fair?
"He constantly complained about the "big corporations"."
Yes, he should because their profits are at an all time high and they are responsible for many economic ills that have befallen our country. They spend $$$ denying climate change, they spend $$$ to buy politicians, they spend $$$ so we all pay higher drug prices, they spend $$$ to avoid paying billions $$$$$ in due taxes. And, they are now people?
Will conservatives ever learn facts? Not if it conflicts with what they are told to believe --- sheep???
NanLee 60
Hey kid, I think your right about the new gun. Trouble is I shoot open sights and I once said that if I couldn't get a deer with open sights, I was going to give it up. I used my wifes gun with a scope on the third buck and still missed. I think I'm going to have to stop shooting off hand and start leaning on something. It must have been George Bushes fault. Well, I have a few days yet to shake out the wrinkles and get my deer. As for Paul Bunyans GF, I know someone over in NE Brainerd that might fill that spot. Little mind, lots of body and lots of age. Loving her for her mind won't get you much love. I got a question for ya. What's the deal with everybody using multiple names on here. marsbar/minnesnowda--southie/twilight--mmpi26 was told by keith 2 weeks ago if he came back on again he was going to be sued and he's back on again. He got booted 5 times in one day for posting the same article 5 times after getting pulled. He got a personal call from Keith and the boys and was booted for good and now I see he's posting again. What's going on at the BDD. How about an answer Denny? Have the rules changed. If so, let us all know. Hey Nan, I got alot of big bucks out here in Northern CWC if you want to come and shoot one for me. Congrats on your 4 deer.
See...
This is why you can't have a proper discussion. The non-thinkers devolve immediately into personal attacks. Am I a lady? Am I fat?? Next will be am I gay or black???
Why not ask if I am well-educated, well-read, well-traveled, and an asset to my community? Wait, the answers to those might give me credibility, something the sheep who just fall in line don't have.
Think for yourselves, real thinking with real data and facts, not just Fox' or Glen Beck or any of the right-wing talkers spin. And it doesn't matter what the person looks like where you obtain it. People who look different from you are to be learned from, not mocked. That only shows insecurity.
And why can't public information
And court cases by posted in a public forum?
Why can't local news that appears in other papers be posted here?
What happened to freedom of speech?