Companies Laying Off Workers BEFORE the Holidays and Expected Layoffs in the New Year
Christmas and New Year's holidays will be especially hard for some workers this year as companies announce layoffs.
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Companies Laying Off Workers Before the Holidays
General Motors
GM is laying off 1,300 employees in Detroit.
GoPro
The company is shutting down its entertainment unit which resulted in 200 layoff notices at year end.
The Limited
The company has told all of its 248 workers in New Albany, Ohio that their jobs are on the chopping block.
Airbus
The company announced 1,100 jobs cuts before the holidays.
More Layoffs to Come in 2017
General Motors
GM will lay off another two thousand employees. To adjust an over-supply of autos the company has announced it will shutdown 5 U.S. plants in January.
Boeing
After laying off thousands of workers in 2016, Boeing plans to continue cutting jobs in its commercial airplane unit in 2017.
Xerox
Due to company restructuring 39,000 employees in the company's legacy copier business will potentially be impacted.
Caterpillar
Source Zerohedge.com
During Obama's great economic recovery (as touted by the main stream media) Caterpillar has had 4 straight years of year-over-year monthly world retail sales decline.
Last week the company announced it will be issuing another round of pink slips to employees.
Sources:
6 companies planning holiday layoffs, 20 December 2016
Thousands of Americans face layoffs before the holidays, 20 December 2016
US Government Used Retail Estimates For The Holiday Season, The Economy Is Tanking - Episode 1157a, X22Report YouTube Video, 20 December 2016
Caterpillar Posts Record 48 Consecutive Months Of Declining Retail Sales, 20 December 2016
This is true for the fortune 500 company I do consultant work for. They are laying off 5% of their engineers at the factory site I do work for. They just announced it right before Thanksgiving too.
My heart goes out to any workers who receive notice before the holidays.
wow that's depressing
Yes, getting a layoff notice or pink slip is not a good way to go into the holidays or start a new year.
My company tries very hard not to hand out layoff notices before the holidays, but sometimes it cannot be avoided. My company tends to do more layoffs in the spring and fall (northern hemisphere).
Steem on,
Mike
Not nearly as bad as a layoff but the company I work for announced it was ceasing to match 401k contributions starting January 1.
Ouch!
Changes are happening in my company beginning 1 January 2017 too. Over 5 years ago they dumped the pension plan for new employees and changed the 401k rules for new employees. The 2017 changes at my company have not been well communicated, so I guess I will learn more in 2017.
Still, I feel I am very fortunate to have my job and working toward retirement.
Steem on,
Mike