Still waiting. Today was bad for two reasons: Caterpillar and Michigan. The headlines:
Dow Chemical to cut 400-500 Mich. jobs — This is not what Michigan needs right now. These are actually part of previous announcements, but it’s a kick in the nuts.
Caterpillar to Cut Additional 2,110 Factory Workers — Things are bad when you announce 20,000 job cuts and then decide it wasn’t enough less than a week later.
Dexia Will Cut 900 Jobs After Fourth-Quarter Loss — Dexia is “the world’s largest lender to local governments.” These appear to be European jobs. It also appears that Europe is screwed.
Los Angeles Times to Cut 300 Jobs, 70 in Newsroom — What’s black and white and red all over? The entire newspaper industry. That’s a 10% cut.
Hitachi Forecasts 700 Billion Yen Loss, May Slash 7,000 Jobs — Big numbers from Japan. They’re playing catch-up in the unemployment game.
IBM Cut at Least 1,200 Hardware Jobs, Document Shows — This apparently counted in the past week.
Bad Times Spur a Flight to Jobs Viewed as Safe — Joey wants to grow up to be a truck driver and Zack wants to be a welder because college is too expensive to just get a pink slip after graduation. That’s an extremely slanted interpretation of the article, but I thought I’d throw that out there.
I know the Dow numbers aren’t bad, but Michigan is seriously screwed. Caterpillar adding 2000 to its 20,000 cuts is equally discouraging. Today was not a good day.
