InfoAnda - Feb 25 Highlights Of Low Points In U.S. Economy

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Home | News Briefs | U.S. | World | Celeb Buzz | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird & Offbeat Feb 25 Highlights Of Low Points In U.S. Economy February 25, 2009 8:06 p.m. EST Linda Young - AHN Editor Washington, D.C. (AHN) - Despite President Barack Obama's message of hope in his address Tuesday night, Wednesday brought more bad economic news in what seems to be a bottomless cycle of job losses. Textile and chemical company Milliken & Co. announced it will cut 150 jobs at its Barnwell, SC plant when it closes it in June. The company is cutting a total of 650 jobs worldwide, citing the ongoing economic crisis and slumping demand in its textile, chemical and floor-covering markets. Furniture manufacturer Stanley Furniture Co. (STLY) announced it will lay off 100 workers at its Stanleyville, VA plant by March 27 because the recession has tanked sales. That will leave still leave about 900 employees at its factory there. It also operates a factory in North Carolina. The company still manufactures most of its furniture in the U.S. Apparel manufacturer Tween announced it is cutting 85 jobs because the recession has caused a need to slash costs. Government services arm of engineering giant Bechtel Group, Bechtel National will lay off about 80 employees as it finishes up the design phase of constructing a radioactive waste treatment plant at Hanford, WA to protect the Columbia River from contamination by radioactive waste from the nation's Cold War arms race dating back to the famed Manhattan Project. Bechtel National helps the U.S. destroy stockpiles of chemical weapons and treat contaminated waste. Health-care provider Norman Regional Hospital announced it will cut 70 jobs and implement cuts in workweek hours in an effort to stay open. The facility is part of The Norman Regional Health Care System, which employs 2,000 people at facilities in Norman and Moore, OK. The hospital cited the recession as the cause of its economic woes. Greeting card maker Hallmark Cards Inc announced it is discontinuing Hallmark Magazine, which it launched only three years ago, and laying off 38 people. The company blamed the economy for making publishing unprofitable. Museum the Philadelphia Museum of Art will cut 30 jobs in an effort to cut costs. Municipal government the city of Richmond Heights, OH announced it had laid off 10 employees on Sunday including five full-time police officers, three jailers, a dispatcher and a secretary. Seller of business books Dickens Books Ltd., the parent company of the soon-to-close Harry W. Schwartz Bookshops chain, plans to lay off seven employees from its Internet business books division, 800-CEO-READ. Municipal government the city of Shaker Heights, OH announced it will cut six jobs at the fire department by the end of March. Copyright © 2003 - 2009 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Home | News Briefs | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat © 2009 AHN Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services All Rights Reserved

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