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The Blaze

 

More Layoffs Announced, Including 500 At NBC, Citibank, And One Huge Obama Donor’s Medical Company

In just the first three days of this week, we have seen an alarming rise in announcements from some very large corporations like, NBC, Citibank, Xerox, and most of the Atlantic City Casinos. Also among the latest to announce downsizing, many municipalities are cutting back staff in service areas like hospice care, housing for domestic abuse victims, and even fire departments.On Tuesday, Xerox provided some sketchy details of that restructuring: By the end of the year, 2,500 current employees will be former employees.  Citigroup Inc., the third-biggest U.S. bank, is dismissing 100 people on New York’s Long Island as the lender seeks to cut costs amid a slump in revenue.  The first layoffs at the Smithfield Packing Co. facility will involve about 120 workers, with more than 400 workers affected by the time plant is closed, said Jeff Gough, Smithfield’s senior vice president for human resources. Employees have been offered transfer opportunities. Cummins layoff notices starting going out this week to the engine-maker‘s white-collar workers at its headquaters in Columbus. Job cuts are also expected at Cummins‘ three southern Indiana plants: the Fuel Systems Plant and MidRange Engine Plant in Columbus and the Engine plant in Seymour.  Three years after acquiring Solel Solar Systems in Beit Shemesh, which produces thermo-solar energy systems, Siemens AG (NYSE: SI; DAX: SIE) is firing about 140 of the company’s 430 employees. In contrast to six months ago when 100 employees were fired, mainly production staff, the latest round of layoffs includes engineering and development personnel, following the company’s decision to close down several major projects.  The world of Twinkies and Wonder Bread threatened to crumble Monday, as a nationwide strike continued and Hostess Brands Inc., the bankrupt owner of the historic products, said it would close three bakeries, eliminating 627 jobs.  Glens Falls Hospital announced Tuesday morning it is eliminating 29 jobs and reducing five other employees to part-time status, as part of a cost-reduction program being blamed on “declining reimbursement levels and other economic challenges.”

One of the biggest medical device manufacturers in the world, Stryker will close their facility in Orchard Park, New York, eliminating 96 jobs in December. Worse, they plan on countering the medical device tax in Obamacare by slashing 5% of their global workforce - an estimated 1,170 positions.

Stryker, a member of the Forbes 400 list, was one of the top five donors to the Obama campaign. Having donated $2 million to the Priorities USA Action super PAC, Stryker also gave $66,000 in contributions to Obama and the Democrat Party.

Comments (2)

Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

what an interesting web we weave when... well we all know the rest.  speaking with a dr client of mine that said it almost makes sense to close his practice now

Nov 14, 2012 11:23 PM
Dale Terry
Yadkinville, NC

Mark, I think we had a clear choice for change last week.  America didn't take it.  But I am not so blind that I can't see the GOP's part in this debacle.

Nov 15, 2012 05:47 AM