Jobs Going, Going, Gone

November 10. 2008

Why is he crying. Shouldn't it be Americans crying at what he did to the country.

Last week it was announced the U.S. stock market had its worst presidential election week in six decades and the economy lost 1.2 million jobs thus far this year. Now comes news that more U.S. companies are laying off close to 100,000 workers, which will up the year’s unemployment tally.

President Barack Obama and First Lady Michelle

This constitutes regrettable remnants of the devastating effects of what was the Bush administration. Obama is in a difficult position. It’s a hard set of circumstances to be elected and have nothing to work with in the way of finance.

Postal Service Looks To Cut 40,000 Jobs In First Layoff In History

SHREVEPORT, LA (KSLA) - "We lost 2 billion dollars and like any other business we have to stay afloat." And to keep from sinking, the United States Postal Service is considering cutting thousands of jobs nationwide. Lavelle Pepper with the post office in Shreveport says they too are feeling the affects of the same disease hitting the country... a struggling economy. "We employ about 685,000 people. If we do layoffs it would include clerks, carriers, mail handlers across all crafts."

http://www.ksla.com

DHL to cut 9,500 jobs in U.S.

Mon Nov 10, 2008 10:05am EST - BONN (Reuters) - Deutsche Post will spend more than planned and cut an additional 9,500 jobs to turn around its U.S. express business, which has been hit by the global economic crisis and hurt third-quarter earnings.

http://www.reuters.com

Circuit City files for bankruptcy protection

Monday November 10, 10:44 am ET - RICHMOND, Va. (AP) -- Circuit City Stores Inc., the nation's second-biggest electronics retailer, filed for bankruptcy protection on Monday but plans to stay open for business as the busy holiday season approaches.

It said it decided to file for bankruptcy protection because it was facing pressure from vendors who threatened to withhold products during the holiday shopping period. The company also said it cut 700 more jobs at its headquarters, after announcing a week ago that it would close 20 percent of its stores and lay off thousands of workers.

http://biz.yahoo.com