Massive Lay Off in the World





Devasting situation by the International financial Crisis , 85.000 jobs will be lost for 2009 in Europe and United States
Companies like Laboratories Pfizer , General Motors , ING and Caterpillar , are looking for reducing cost with a great uncertain horizon

Black Monday started in Europe by the Ducth Company Philips who will quit 6000 jobs on the second semestre 2009 for reducing costs of 400 millon euros and it registered a lost of 1.500 million euros on 2008 .

Also the deutch giant ING , dedicated to banking and inssurances , will fire 7000 employes from 13 000 , for reducing the costs 1000 millones of euros , and his executive director were replaced

The siderurgic english dutch Corus , the second producer of steel in Europe , will fire 3500 jobs , 2500 only in UK

Life a domino effect companies like Caterpillar, Home Depot , Sprint Nextel announced massive laid off. Canterpillar the major manufacture of equipment of construction , will fire 20 000 persons that represent 1/5 of the total of employees , Canterpillar said this year will be the worst from the World War II ,

Home Depot , annouced that will fire 7000 jobs , 2% from the total , the closing about design will affect 5000 employes and 2000 from administration and commercial areas

Sprint Nextel , the 3rd provider of telephony mobile in United States , will fire 8000 jobs .

AT&T announce will fire 12 , 000 jobs , Laboratories Pfzifer will eliminate 8 000 jobs ,

General Motors is prepared to announce new lay off , in spite of the loans received 4 000 millons dollars , they will fire 2000 jobs from Michigan , Ohio , and announcing the temporary closing of some of the factories in US and Canada

Microsoft has anticipated will fire 5000 employes and 1400 inmediately

This shows how the financial crisis is hitting on the real economy , and it is knows 6 days after that the president Barack Obama said that going through the crisis will not be easy and could be worst .

Obama said to act fast with the plan , there is not more time , that will help millon of people , the plan is 825 000 millons dollars that has resistance from the republicans . Arround 600.000 persons ask the inssurance of unemployment the rate of unemployment is 7.2 % on the active population . it is the record after 16 years .

Comments

Anonymous said…
well bad economy is always the excuse for companies to lay of people
it is the easiest solution
it would be nice to give the people reduction of hours; and use the time to give them courses and then when economy gets better increase the hours again or with the courses these people can look for other jobs in other companies
i know three dutch ones
philips Ing and corus
I prefer not to fire
companies only have growth strategies and no bad weather strategies
philips, ing and corus look for the easy option and fire people
but would be nicer to offer courses
is more expensive for the company
but in the end it makes it easier for the people to get another job in the same or other company
corus: companny producing steal and demand for steal has dropped 40% because people and companies don't want to invest in new goods at the moment; they keep the money in the pocket
philips: demand for consumer ping got help from dutch government but dutch government ordered them to give 25.000.000.000 in credits to people/compani who want to invest
money has to roll againroducts has dropped a lot in the last months
companies who want to invest; cannot lend from banks as banks don't give credit with this crises
but the money you need for tech development is already reserved for that ; so when you make a loss now; you cannot take that money back
so you have to lay off people and produce less
it is mostly low educated jobs that get lost in economic crises
philips doesnt cut his workforce on techn development
and ing has made bad results with mortgage loans in usa
ing has bad mortgages ? because they have people who think that the profit you can make with these mortgages is higher than the risk you take
but now the risk has gone backwards so they loose a lot of money
by other hand , yesterday already message that in usa more houses get sold again and consumer already think more positivie
so if this continues the worse might be over
but after one day you can not tell
money has to roll ! and when people and companies don't spend...i t doesnt create jobs
no one knows for sure what will happen
but we all hope that people keep some confidence
HANS FROM HOLLAND