The Other Election Results Are In: Layoffs

The presidential election results are not even a week old and already the impact of the results are sending tremors across the field of business.  In the last four days at least 28 companies in the country have notified over 13,000 employees that their jobs will be terminated for various reasons, but all associated with President Obama’s incredibly poor economic policies or lack of policy.  Thousands of more layoffs are anticipated, particularly after January 1 when more Obamacare regulations take effect, taxes rise, energy prices rise and federal contractors face the impact of “sequestration” (mandatory federal program cuts).

As another election ploy and fraudulent move the Obama Whitehouse sent a memorandum on September 28 to federal contractors facing sequestration to ignore and not comply with the WARN Act (The Worker Adjustment and Retraining Notification) Act.  This Act requires that all employers with 100 employees or more that anticipate layoffs of their workforce MUST give those to be laid off a 60 calendar day notice in advance of their layoff.  Federal, state and local government entities that provide a public service are exempt from such a notice.  Obama’s Department of Labor administers the WARN Act (but apparently not lawfully).

Not surprisingly, Obama did not want thousands of layoff notices going out just before the election.  Yet another abuse of power and the exercise of the dictator to come.

For those of you who get laid off and voted for Obama, who ya gonna call?  Bush?  This downturn will be completely President Obama’s.  No more Bush excuses.  Get used to it.  It’s the new economy under Obamanomics.

Lay-off Update.  Since the posting of this column just 24 hours ago, I have discovered that I was too modest in my assessment of post-election lay-offs.  More lay-offs are coming in at breakneck speed with thousands more losing their jobs with household name companies such as: Abbott Labs, St. Jude Medical, Medtronic, Boston Scientific, Energizer, Westinghouse, Boeing, U.S. Cellular, Bristol-Myers, Darden Restaurants (owners of Olive Garden, Red Lobster and LongHorn Steakhouse restaurants) and many more.

Four main reasons are being cited for the lay-offs: Obamacare expenses, oppressive government regulations, increased taxes and a slowing economy, all of which make it harder for companies to compete and make a profit.  Many companies, like Darden Restaurants, are looking at cutting employees back to part-time hours (28 hours/week in Darden’s case) to avoid having to pay for Obamacare or the hefty $3,000/employee fine for non-compliance.

Too bad there cannot be a re-call vote on a presidential election.  This is only 5 days after the election.  Can you imagine what it will be like a month from now?  Six months?  A year?  Four years from now?  God help us!

Lay-off Update 2.0.  Are we headed to 10+% unemployment?  The list keeps getting longer of companies laying off or firing workers or cutting full-time employees back to less than 30 hours/week.  Keep in mind, this does not include the hundreds (perhaps thousands) of small businesses that are cutting back or not hiring in 2013.

List update as of November 23:

  • Abbott Labs – 700 employees
  • AMD – 400
  • Ameridose – undisclosed hundreds
  • ATI – 172
  • Boeing – undisclosed
  • Boston Scientific – 1200-1400
  • Britol-Myers – 480
  • Career Education – 900; closing 23 campuses
  • Caterpillar (Owatonna, MN) – 100
  • Center for Hospice and Palliative Care (NY) – 40
  • Cigna (insurance) – 1300
  • Covidien – 595PH Medical Center – unknown
  • Darden Restaurants (Longhorn Steakhouse, Red Lobster & Olive Garden) – cutting staff to part-time of 28 hours.
  • 40 Denny’s Restaurants in Florida, Georgia and Virginia reducing staff and cutting many full-time employes to less than 30 hours due to Obamacare.
  • Energizer – 1500
  • Exide Technologies – 150
  • First Energy – 400
  • Groupon – 600
  • Hawker Beechcraft – 410
  • Hil Rom – 200
  • Hostess Bakery, firing 18,500 workers and going out-of-business due to a prolonged union fight.
  • Husqvarna – 600
  • JANCOA Janitorial Services, cutting back many full-time employees to part-time.
  • Kinetic Concepts – 427
  • Kroger, cutting back FT employees to PT.
  • Las Vegas business (undisclosed) with 114 employees – 22
  • Lightyear Network Solutions – 17
  • Major Wind Co. – 3000
  • Medtronic – 500
  • Minnesota dairy plant – 130
  • Momentive, Inc. – 150
  • Murray Energy – 150
  • New Energy – 40
  • OCE North America – 135
  • Ohio air base – 115
  • Ohio’s largest insurance company – 50 underwriters
  • Pepsi – 4000
  • Providence Journal – 23
  • Research in Motion – 200
  • Rocketdyne – 100
  • Smith & Nephew – 770
  • St. Jude Medical – 300
  • Stanford (brake plant) – 75
  • Stryker (medical supply) cutting 1170 jobs due to Obamacare.
  • TE Connectivity – 620
  • Teco Coal – 90
  • Turbocare – 220
  • United Blood Services Gulf South – 10% of staff
  • Vestas Wind Systems – 3000
  • Welch Allyn (medical equipment mfger.) – 275
  • West Ridge Mine – 102
  • Westinghouse Aniston Weapons Incinerator – 50
  • Wilkes-Barre (PA government) – undisclosed

Please Note:  The lay-offs/firings above represent over 47,000 jobs lost.  This list does not include the thousands of workers that lost their jobs from Obama’s failed “green energy” start-ups that squandered billions of taxpayer dollars before going broke; nor does it include the thousands of full-time positions that will be cut back to under 30 hours/week.

 

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