InfoAnda - Feb 20 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 20 Highlights Of Low Points In U.S. Economy February 20, 2009 8:30 p.m. EST Linda Young - AHN Editor Washington, D.C. (AHN) - Friday brought more sour economic news as workers continued to lose their jobs because of the "difficult economic situation," with job cuts in Virginia affecting travelers driving through the state who will probably find closed signs on four of the state's rest stops. Air carrier Delta Air Lines Inc. announced that more than 2,100 employees have accepted buyout offers from the Atlanta, GA-based company in its latest round of job cuts. State government agency the Virginia Department of Transportation announced it will cut 1,500 jobs statewide and it is asking the state to close four rest stops on Interstate 81 in Roanoke and New River Valleys this summer because it doesn't have the money to keep them open. Aircraft manufacturer Boeing Company (NYSE: BA) announced it is laying off another 1,100 employees, citing slumping demand. Pittsburgh, PA's sixth largest bank by deposits, Huntington Bancshares Inc. (NASDAQ:HBAN), says it is notifying 500 employees that they will lose their jobs next month. In an effort to avoid further job cuts the company says it has eliminated bonuses and matching contributions to employee 401(K) plans. Air conditioning systems manufacturer Lennox announced it is laying off 256 employees at its Stuttgart, AR plant. These job cuts are in addition to 160 layoffs there last year. Shoe manufacturer SAS announced it will lay off 146 people and close its Conway, AR plant because of sagging sales of its products. Book seller Borders Group Inc. announced it has laid off 136 people, including 94 at its Ann Arbor, MI headquarters. It is the company's latest effort to restructure itself, it has suffered two consecutive years of losses and the latest earnings report will come out in March. Office furniture maker Herman Miller (Nasdaq: MLHR) announced plans to cut another 110 employees, a mixture of white collar and manufacturing jobs will be cut. Thursday's announcement was in addition to 1,000 job cuts and layoffs made in previous months. An executive with the Zeeland, MI-based manufacturer cited a "difficult economic situation," but said it was determined to survive as a business and also said if the economy improves it could bring workers back. Technology company Ingram Micro (NYSE: IM) announced it will lay off 100 workers at its Amherst, NY facility as part of a larger restructuring effort. The Santa Ana, CA-based company said the layoffs were a last resort after taking internal cost-cutting measures. Company officials said those 100 workers were part of 300 workers laid off in North America. Quartz manufacturer Momentive Performance Materials Inc. announced it had permanently laid off 74 employees at its Hebron, OH plant. The Albany, NY-based company said it had originally planned to bring the workers off after what was supposed to be temporary layoffs. It blamed slumping sales and the tight credit market. Municipal government Staunton City Public School in Staunton, VA announced it was cutting 51 employees, but 28 of those people will be reassigned into other positions. Only one full-time teaching position and three part-time teaching positions are being eliminated, the remaining cuts come in support positions and bus drivers. The cuts will still leave a shortfall in the school district's budget that officials aren't sure how they will close. Health care provider Mercy and Mercy Southwest hospitals of Bakersfield, CA is laying off 10 managers and expects to cut another 50 jobs in various areas of the hospitals within months. Officials cite declining patient loads and a decrease in reimbursements by Medi-Cal. Appliance manufacturer Electrolux announced it was laying off 43 employees at it washer and dryer plant in Webster City, IA. These layoffs follow 99 job cuts last November. Company officials say that if the economy improves that workers could be called back. However, that won't be the case for workers who are affected by plans to close its central vacuum cleaner manufacturing plant in Webster City and transfers operations to Mexico by the end of the year. Retailer Beals announced it is laying off 40 people and closing 12 stores in Florida. The company blamed sagging retail sales. Wireless phone company Nokia will lay off up to 30 employees in its mobile advertising sales division. Company officials cite a need to focus on core activities. Media outlets Lewiston Tribune and the Moscow-Pullman Daily News in Idaho are cutting 10 jobs at the newspapers and another four at the production center where the newspapers are printed in an effort to cut costs. Nevada law firm Kummer Kaempfer Bonner Renshaw & Ferrario says it has laid off an undisclosed number of employees. Sources close to the business reportedly say the firm has laid off nine lawyers and the support staff associated with them. 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

Other News on Saturday, 21 February 2009
Tamil Tiger aircraft attack Sri Lanka capital | International |
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Diplomats claim Iran understates uranium stocks to IAEA
Swiss court blocks bank data sharing with US: report
Australian author freed after Thai royal pardon | International |
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Eurovision Song Contest beloved and belittled
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Bank fears drag down world markets
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Apple's Woz waltzes back into the spotlight
Feb 20 Highlights Of Low Points In U.S. Economy
Digital music services flunk college test | Technology |
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Google shoots down 'Atlantis' pictures
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Cable providers eye offering TV shows online: report
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China Internet users asked to probe custody death
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