Incomplete list of job loss announcements and shutdowns.
Alaska: Taxpayer funding cuts (caused by the crashing & burning oil industry) are forcing University of Alaska Fairbanks to shutdown the Agricultural and Forestry Experiment Station Soil and Plant Analysis Laboratory. It’s the only soil testing lab in the state and is not only helpful to gardeners but is used to help pilots land on unprepared runways: “That lab has been responsible for saving the aviation industry probably millions of dollars in aircraft damage. The closing of the lab has so many ripple effects that are just hard to calculate.”-Steve Brown, Agricultural Extension agent
California: San Ramon based Chevron confirmed it eliminated 3-thousand 2-hundred jobs in 2015, and that another 4-thousand oil jobs will be destroyed in 2016! Administrators say they lost so much money in 2015 that they need to cut more than $9-billion USD in operating costs!
More proof the internet is not recession resistant; Foster City based Live365 internet radio officially shutting down, analysts are blaming the Copyright Royalty Board. Back at the end of December it was reported that Live365 was laying off the majority of its employees, no word on how many people will lose their jobs. Health insurance company Blue Shield of California eliminating at least 99 jobs at their Lodi call center, apparently forcing people to buy ObamaCare insurance isn’t generating enough captive audience profits.
Georgia: In Garden City, Daylight Donuts shutdown due to problems with the building and low sales.
Illinois: Jake’sTavern shutdown after 78 years in Galesburg, the current owner refused to say why.
Here’s three fine examples of what I call Ripple Effect Layoffs (REL); Illinois base heavy vehicle maker Caterpillar issued a press release stating they will eliminate 10-thousand jobs between now and 2018, due to the crashing mining-oil industry! In Danville, Germany based ThyssenKrupp Crankshaft eliminating 48 jobs due to declining sales caused by the declining heavy vehicle industry, which is the result of the declining mining-oil industry. Also in Danville, Freight Car America eliminating 180 jobs by mid-February, blaming the declining railroad industry, which is the result of the declining mining-oil industry!
Missouri: In Clayton, after five years Coastal Bistro & Bar shutdown, no comment from owners. In Chesterfield, Miller’s Crossing Pub & Grill shutdown with no warning or explanation. In Krikwood, after five years Petra Restaurant shutdown, no further info.
New Jersey: In Freehold, Top Tomato grocery store shutdown, a manager of another Top Tomato store told local news media that relative to sales volume the Freehold store is “too big for them”. However, on Facebook the owner of the Top Tomato chain straight up blamed the greedy landlord: “…due to circumstances with our landlord that could not be resolved and were out of our control, we were forced to close our Freehold sister store.”
New Mexico: Illinois base heavy vehicle maker Caterpillar eliminated 50 jobs without warning when it suddenly shutdown its Santa Fe factory. Caterpillar took over the factory from CleanAir Systems in 2010. In Albuquerque, after 18 years stationary and gift shop Gatherings shutdown, the owner blamed competition with the internet.
New York: RCS Capital (Realty Capital Securities) now chapter 11 bankrupt busted. Back in December they WARNed they were shutting down their NYC office by March. The bankruptcy filing will somehow provide the failing investor $150-million USD and take it ‘private’. No wonder big companies like to file bankruptcy so much, who knew it was just another way for them to make money? That Which CanNot Be Named refuses to stop the shutdown of ‘its’ 51+ years old kosher bakery Monsey Kosher Bake Shop (aka Frank’s Family Bakery). Yehuda Frank began crying when he told local news media that “circumstances made that we close”. Those “circumstances” include the health and age of the owners.
North Carolina: In Greenville, Fitgerald’s restaurant shutdown without warning less than two years after opening. Local news media report that the building now has a sign that says “Do not enter, no one”. Asheboro Elastics shutting down their Narrow Fabrics military fabrics factory. The vice president of AEC Narrow Fabrics admitted that selling products to the military is not as profitable as they thought, 90 jobs lost between March and April.
North Dakota: In Fargo, Eloise Boutique & Gift shutting down by the end of March. The store owner is also the property owner and she admitted she could make more money just being the landlord instead of the tenant.
Ohio: In Columbus, after 29 years Patrick J’s Food + Drink shutdown, apparently the owner could end up in prison for 20 years after pleading guilty to charges of ‘interference with commerce by threats’.
Oregon: For the second time in one week, Aequitas Capital Management announced layoffs. This time 1-hundred people, almost all the remaining employees, will be laid off! Company bosses blame significant financial problems after it was revealed their debt/investment agency was involved in questionable student loans.
Wisconsin: Illinois base heavy vehicle maker Caterpillar eliminating 220 jobs at its factory in Prentice! What automotive industry recovery? Milwaukee based iconic Harley-Davidson dropped its expected 2016 shipments of motorcycles from 3% to 1%! Profits were down 43% for 2015! Lack of sales means they’re stuck with a 31% increase in leftover inventory compared to 2014.
WARN=Worker Adjustment & Retraining Notification
29 January 2016: Governor kills state jobs claiming lack of money, then Senator reveals $400-million+ cash surplus!
Former employees who receive severance are not counted as unemployed
The U.S. Department of Labor (DoL) no longer issues mass layoff reports: “On March 1, 2013, President Obama ordered into effect the across-the- board spending cuts (commonly referred to as sequestration) required by the Balanced Budget and Emergency Deficit Control Act, as amended. Under the order, the Bureau of Labor Statistics (BLS) must cut its current budget by more than $30 million, 5 percent of the current 2013 appropriation, by September 30, 2013. In order to help achieve these savings and protect core programs, the BLS will eliminate two programs, including Mass Layoff Statistics, and all ‘measuring green jobs’ products. This news release is the final publication of monthly mass layoff survey data.”