The night draws to an end and I realize that I haven’t gathered my job cuts for the day. I had a couple, and found a few more. Here are the headlines for today:
NiSource Gas Transmission Unit to Cut Up to 380 Jobs — NiSource was always a good natural gas trade. They were the “safe” trade you went to when other things went to hell. Everyone is in trouble.
GM’s Brazil Unit May Cut 1,633 Temporary Jobs on Slowing Demand — This sounds sarcastic, but it isn’t: Didn’t a bunch of bailout money just go towards upgrading this plant? Now I really feel like GM is pissing the bailout money away.
AmBev Shuts Beer Plant in Sao Paulo, Cuts 146 Jobs, Estado Says — Nothing quite says “global economic slowdown” like Brazilian job cuts for an American brewery owned by the Belgians.
Telecom Italia Fourth-Quarter Net Rises, Dividend Cut — 4,000 Italian jobs.
Roger Dubuis to Cut 70 Jobs, Continue Adding Stores — The oh-my-god-that’s-an-expensive-watch market is hurting. Swiss jobs.
None of these quite bothered me as much as finding the LA Time story: California unemployment rate reaches 10.1%. For some definitions, this qualifies as a depression. We’re so screwed.
