Bristol-Myers Layoff Job cut: to fire 800 employees, 4300 by 2010

Bristol-Myers one of the largest drug and medicine making company of the world has decided to go for massive layoffs - around 800 employees will be fired by the company by the year end. This is another setback to the ailing job market and industry of the USA. Bristol-Myers Layoffs

How many employees will be fire in the Bristol-Myers Layoffs?
Around 800 jobs will be cut by Bristol-Myers by the year end of 2009. This will be around 10 percent of the total workforce of Bristol myers. A total of 4300 jobs will go by the year 2010.

What are the primary reasons of the Bristol-Myers Layoff Job cut
The primary reason is economic downturn and decrease in demand,

Which jobs will be affected by the Bristol-Myers Layoff Job cut
The New York-based company says it will eliminate 800 positions by the end of 2008, including filled and vacant jobs worldwide.

How much savings is estimated by the Bristol-Myers Layoff Job cut
Bristol-Myers Squibb job cuts are expected to save around $1 billion by 2012

As per the news, The cost reductions are intended to take effect during Bristol-Myers' "patent cliff" period in 2011 to 2013, when key drugs like its blood thinner Plavix, bipolar disorder treatment Abilify and blood pressure drug Avapro are expected to face low-cost generic competition, which will likely lead to falling revenue.


In October, Merck said it would cut 7,200 jobs by 2011.

Let's hope that alternative jobs are available to the affected employees of Bristol-Myers Layoffs Job Cut

Caterpillar Layoff Job cut: fires 800 employees

Caterpillar the largest earth moving instrument making company of the world has decided to go for massive layoffs - around 800 employees will be fired by the company. This is another setback to the ailing job market and industry of the USA. Caterpillar Layoffs

How many employees will be fire in the Caterpillar Layoffs?
Around 800 jobs will be cut by Caterpillar.

Which locations will see the Caterpillar Layoff Job cut
The Illinois and North Carolina location will be affected by the job cut.

What are the primary reasons for the Caterpillar Layoff Job cut
Due to the current and ongoing financial crisis, the economic turmoil has resulted in the decline in the demand for caterpillar products.

Which division or segment of employees will be affected in the Caterpillar Layoff Job cut

Aroun 814 production workers at an engine assembly plant in Mossville, Illinois., where volumes have plummeted due to lower demand for engines for on-highway trucks, Caterpillar machines and commercial applications.

When will the Caterpillar Layoff Job cut happen?
the layoffs will begin on February 23, 2009.

Job cuts will also be there for majority of the temporary staff at the North carolina plant. Caterpillar notified the workers at the Clayton and Sanford plants on Thursday afternoon and said it is planning additional non-production days at both factories in 2009
Let's hope that alternative jobs are available to the affected employees of Caterpillar Layoffs Job Cut

Fiat Layoffs Job Cut: fires 50000 employees temporarily

The economic crisis is hitting all sectors. Fiat, the famous car manufacturing company, has decided to go for period based layoffs - around 50,000 employees will be asked by the company to sit at home for an extended period during christmas and New Year. Fiat Layoffs

It i for the the first time that the fiat group has decided to shut down majority of its Plants in italy for almost a month and force the employees for an extended period of leaves.
How many employeed will be affected by the Fiat temporary closure or Layoffs Job Cut

Around 50,000 employees are expected to be affected by the closure and leaves.

How many plants will be shut down by Fiat ?
Around 14 plants of Fiat's 20 Italian plants will be shut down


Which class or segment of employees will be affected in Fiat Layoffs Job Cut
Majority of the employees will be blue collar employees or prodution workers

What is the total strength of Fiat ?
Around 80,000 is the total employee headcount in Italy.

What will happen to pay and salaries of the employees in the Fiat Layoffs Job Cut
Under the temporary layoff scheme, a part of the workers' salaries is paid by a government-administered fund that includes industry contributions

Sara Lee Layoffs Job Cut: fires 700 employees, outsources work

The economic crisis is hitting all sectors. Sara Lee, a multi-product company for various consumer products, has decided to go for layoffs - around 7000 employees will be fired by the company. It is learnt that these layoffs are being done to save costs and the work will be outsourced. Sara Lee Layoffs

How many employees will be fired by Sara Lee layoffs?
Around 700 employees will be asked to quit their jobs at Sara Lee - this makes 10% of its total employee strength.

What is the business of Sara Lee Layoffs?
Based in Downers Grove, Ill., Sara Lee Corporation is a global manufacturer and marketer of high-quality, brand-name products for consumers throughout the world. Their businesses are:
* Fresh Bakery
* North American Retail
* Foodservice
* International Beverage
* International Bakery
* International Household and Body Care

Are there any plans of outsourcing after the Sara Lee Layoffs?
Yes. The company will outsource parts of its business.

How much savings can be made by outsourcing and Sara Lee Layoffs?
Around $200 million to $250 million of savings can be achieved in the next three years.

Where will Sara Lee outsource the work?
Sara Lee will outsource pieces of its North American and European finance and global information services groups, in addition to its global indirect procurement activities.
Sara Lee has about 44,000 employees worldwide.
Let's hope that alternative jobs are available to the affected employees of Sara Lee Layoffs Job Cut

Stanley Works Layoffs Job Cut: fires 2000 employees, closes 3 plants

The economic crisis is hitting all sectors. Stanley Works, a tool maker company has decided to go for layoffs - around 2000 employees will be fired by the company. Not only that, 3 plants will also be closed down by the company. Stanley Works Layoffs

How many employees will be fired by Stanley Works layoffs?
Around 2000 employees will be asked to leave their jobs - this makes 10% of its total employee strength.

How many manufacturing plants will be closed by Stanley Works ?
Three manufacturing plants will be closed by the company.

What are the reasons for the Stanley Works layoffs?
The company is quoting the reasons of weakness in its construction and industrial segments and the effect of a stronger dollar.

Any specific class of segment of employees affected in Stanley Works layoffs?
Majority of them will be production jobs as the company is closing on some plants. Also, it will involve job cuts in the management.

Which plants will be closed by Stanley Works?
No information is given by the company about the plants which will be closed down.

Stanley is the latest tool and industrial products maker and obviously, being the biggest it will be the first to feel the heat of the economic downturn.
Let's hope that alternative jobs are available to the affected employees of Stanley Works Layoffs Job Cut.

Furniture Brands Layoffs Job Cut: fires 1400 employees

The economic crisis is hitting all sectors. Furniture Brands has decided to go for layoffs - around 1400 employees will be fired by the company. Furniture Brands Layoffs

How many employees will be fired by Furniture Brands layoffs?
Around 1400 employees will be asked to quit their jobs - this constituests 15% of the employee strength in USA alone.

What are the reasons for Furniture Brands Layoffs?
It is unable to cope with the downwards moving retail market, where the demand has gone down dramatically.

Any details about severance costs for Furniture Brands ?
As per the news, The manufacturer and retailer said it would incur severance costs of $8 million to $9 million and will take a charge against fourth-quarter earnings to reflect most of the expense, with the cash impact hitting in the first quarter. Furniture Brands said the severance costs were included in its estimate of $56 million to $72 million in fourth-quarter pretax charges.

Which segment of employees will loose their jobs in the Furniture Brands Layoffs?
Many management, professional and hourly jobs are expected to be cut. Production jobs will also be cut and that will eliminate the need for factory closure.

How much savings can be made by the Furniture Brands Layoffs?
A saving of around $20 million per year can be achieved, and that saving will start next year itself.

Furniture Brands makes and sell furniture under brands such as Broyhill, Lane and Thomasville

Sonus Networks Layoffs Job Cut: fires 50 employees

Sonus Networks has decided to go for layoffs - around 50 employees will be fired by the company. Sonus Networks Layoffs

How many employees will be fired by Sonus Networks layoffs?
Around 50 employees will be asked to quit their jobs - this constituests 5% of the employee strength.

What are the primary reasons for the Sonus Networks layoffs
Reasons are to save money and shift its business toward higher-growth areas.

What are the businesses of Sonus Networks?
Sonus, is a service provider to wireline and wireless telecommunications providers.

Any specific locations where Sonus Networks layoffs will take place?
No information is available about the location wise job cut, but since the cuts are being made for cost-cutting, it means that low cost outsourcing centers like Bangalore in India may not see the job cuts. Instead, the news is that there will be hiring in Bangalore, India. So instead of being a layoff, its more of job shifting.
The company expects to take pretax restructuring charges between $850,000 and $950,000 for severance and other costs in the fourth quarter. It expects to save about $5 million to $6 million a year as a result of the cuts.

Bank of America Layoffs Job Cut: to fire 35000 employees

Bank of America has decided to go for massive layoffs - around 35000 employees will be fired by the company. This is another setback to the ailing financial industry of the USA> Recently, Bank of America took over Merrill Lynch and these job cuts are said to be a part of consolidation process. Bank of America Layoffs

How many employees will be fire in the Bank of America Layoffs?
Around 35,000 jobs will be cut by Bank of America.

Will it be a one time job cut by Bank of America Layoffs?
No. This will be an extended exercise, and will go on over the next 3 years.

What are the reasons for Bank of America Layoffs?
BankAm recently took over the ailing Merrill Lynch bank for 29 $ per share. This layoff is a part of Merrill Lynch absorbtion and consolidation. Moreover, the economic situation is really bleak.

When will the Bank of America Layoffs be announced?
The job cuts are expected to be announced in early 2009. The cuts will come from both companies and will affect all lines of business. Bank of America had 247,000 employees, as of Sept. 30, while Merrill Lynch had 60,900 at the end of the third quarter.

While Bank of America had not announced any large-scale job cuts so far this year, Merrill Lynch eliminated about 3,300 employees since the fall of 2007, mainly in its global markets and investment banking division and in support areas.

Any specific class or segment of employee affected by Bank of America Layoffs
Bank of America is likely to keep many of Merrill Lynch's financial advisers, who numbered 16,850 at the end of September. Most brokers are also expected to be retained. However, the capital markets divisions - the traders, analysts and sales representatives - may not be spared.
Let's hope that alternative jobs are available to the affected employees of Bank of America Layoffs Job Cut.

Low cost PV Solar Cells & Solar Panels: High Efficiency of 40%

Till now, there has been one big road block in the path of installing the Photovoltaic Solar Cells for production of electricity - the block was the high cost of electricty production through Photovoltaic cells and the low efficiency of the systems. Typically, the traditional PV Cells have an efficiency level of around 18% only. However, last month, there appears to be a break-through in the process. A system which wsa tested claims to have been generating an efficiency of almost 40%, that's more than double of what the conventional PV cells produce. Low cost PV Solar Cells Panels

A project called FULLSPECTRUM claims to have developed a multi-junction solar cell which can take up more sunlight or solar energy and hence increased efficiency. The reason how this has been made possible is due to the composition of different materials, including gallium, phosphorus, indium and germanium, which are used to make the Solar PV Cells. Though there is high cost of these multi-junction solar cells but that can be easily made up by the high efficiency achieved in the output. Moreover, the cost can be significantly brought down by arranging them in special panels which include lenses that focus a large amount of solar energy onto the cells. These concentrators can reach far above 1000 times the natural solar power flux and have also been the object of the project research.

Related: Solar Panels: Sources, Installation, Technology Not just about installations, you can even consider investing in the Alternative Energy Mutual Funds which cover areas like Solar Power, Wind Power, biomass, Geothermal sources, etc. Then, here is the article about the Recent Performance of the various alternative energy segments Or say, you still want to stick to the traditional fossil fuels, then you may like to consider Taking a Crude Oil Futures Position

So, is it the time to look for some cheaper and more efficient & low cost PV cells or Solar Cells. There have been intensive research going on for reducing the cost of solar PV cells. European countries have been a front runner in this race

Office Depot Layoffs Job Cut: fires 2200 employees, closes 112 Stores

Office Depot has decided to go for massive layoffs - around 2200 employees may be fired by the company. Not only that, around 112 stores have identified, which will be closed down by the company chain. Office Depot Layoffs

How many employees will be fired in the Office Depot Layoffs
Around 2200 employees will be fired from the Office Depot.

How many stores will be shut down closed by Office Depot?
Around 112 stores will be closed; that will be 9% of all the stores in USA, while the total no. of stores will come to 1163 .

When will the Office Depot Layoffs happen?
The job cuts will be made in the next 3 months.

What are the primary reasons for Office Depot Layoffs
Main reason is cost-cutting, due to the recent financial turmoil, reduction in demand and all related matters.

Which locations will the Office Depot stores be closed?
It plans to close 45 stores in the Central U.S., 40 in the Northeast and Canada, 19 in the West and 8 in the South.
Also, 6 of the 33 North American distribution facilities will be closed.
Other 14 stores will be closed next year and only 20 new sites will be opened - that's 50% of the planned expansion.

What are the financial results of Office Depot Layoffs
The retailer had a bad third-quarter - loss due to slumping sales as consumers and small businesses cut back spending in October.
Office Depot shares, which have tumbled more than 82 percent since the beginning of the year, climbed 22 cents to $2.65 Wednesday
Let's hope that alternative jobs are available to the affected employees of Office Depot Layoffs Job Cut

Rio Tinto Layoffs Job Cut: fires 14000 employees

The economic situation is worsening and all the sectors are affected by it. Now, the Australia Based Rio Tinto has decided to go for layoffs - around 14000 employees may be fired by the company. Rio Tinto Layoffs

How many employees will be fired in the Rio Tinto Layoffs
Around 14000 employees will see the job cut by Rio Tinto. This would be around 12.5 percent of the total employee headcount.

What are the businesses of Rio Tinto?
The company is the into the business of metals like iron ore and others.

What are the primary reasons for the Rio Tinto Layoffs?
The layoffs are said to be because of the worsening of the global markets. The company will also reduce capital investment as part of new measures to reduce its debt amid declining demand.

Which locations will be affected by the Rio Tinto Layoffs?
Around 300 jobs will go at its headquarters at Des Moines, Iowa, while another will be cut in 250 in 45 other locations.

When will the Rio Tinto Layoffs happen?
No info is available about the exact dates, but most probably it will happen in the first quarter of next year, which will mean a bad start to the new year for the affected employees.

Which segments will be affected in the Rio Tinto Layoffs
No information is available about which employee class would be affected by the layoffs.

How much savings can be made by the Rio Tinto Layoffs
Though there is no news specifically about the savings by employee job cut, but the reduction in operating expenditure are expected to save at least 2.5 billion Australian dollars ($1.6 billion) a year by 2010.

How many employees does Rio Tinto have in all?
The company has arouond 112,000 employees in total.

As per the news, Rio Tinto has offices in 40 countries, with most of its employees in Australia and North America, as well as significant operations in South America and southern Africa. It employs 97,000 people directly in addition to 15,000 contractors, or people on short-term contracts. The job cuts will mostly be on the contractor side, where 8,500 positions will be eliminated. The world's second-largest aluminum producer stressed it remains committed to its strategy of finding, developing and operating large, long life, low cost mining assets.
Let's hope that alternative jobs are available to the affected employees of Rio Tinto Layoffs Job Cut.

SKF Bearings Layoffs Job Cut: fires 2500 employees in Sweden

The economic situation is worsening and all the sectors are affected by it. Now, the Sweden Based SKF Bearings has decided to go for layoffs - another 2500 employees may be fired by the company. SKF Bearings Layoffs

How many employees will be fired in the SKF Bearings Layoffs
Around 2500 employees will see the job cut by SKF Bearings. In 2007, the total employee strenth was around 43000.

What are the businesses of SKF Bearings?
The company is the world's leading maker of ball bearings.

What are the primary reasons for the SKF Bearings Layoffs?
The layoffs are said to be because of the worsening of the global markets, especially in the automobile sector, where its clients - the auto manufacturers are struggling and cutting productions which is hurting this company as well.

Which locations will be affected by the SKF Bearings Layoffs?
Around 300 jobs will go at its headquarters at Des Moines, Iowa, while another will be cut in 250 in 45 other locations.

When will the SKF Bearings Layoffs happen?
No info is available about the exact dates, but it is learnt that it will happen in December 2008.

Which segments will be affected in the SKF Bearings Layoffs
Aroudn 1300 temporary workers are set to loose their jobs. Remaining will be permanent employees.

Principal Financial Layoffs Job Cut: fires 550 employees

The economic situation is worsening and the financial sector is the worst affected by it. Now, the Principal Financial has decided to go for layoffs - another 550 employees may be fired by the company. Principal Financial Layoffs

How many employees will be fired in the Principal Financial Layoffs
Around 550 employees will see the job cut by Principal. This would be around 3.5% of the total employee strength of Principal.

What are the businesses of Principal Financial?
The company is in various financial sectors - Insurance, banking, retirement and asset management and is based in Des Moines, Iowa

What are the primary reasons for the Principal Financial Layoffs?
The layoffs are said to be because of the worsening of the U.S. and global markets.

Which locations will be affected by the Principal Financial Layoffs?
Around 300 jobs will go at its headquarters at Des Moines, Iowa, while another will be cut in 250 in 45 other locations.

When will the Principal Financial Layoffs happen?
The affected employees will have to leave the company by the year end or 31st Decemeber, 2008.

Any compensation padi to the affected employees of Principal Financial Layoffs
Yes. All affected employees will receive severance and career assistance.

ArcelorMittal Layoffs Job Cut: fires 1550 employees

The economic situation is worsening in multiple sectors and that includes the big giants equally within each industry sector. We had reported last month about the ArcelorMittal Lay off Job Cut and now the company has decided to add to the list of layoffs - another 1550 employees may be fired in European countries. ArcelorMittal Layoffs

How many employees will be fired in the ArcelorMittal Layoffs Job Cut?
Around 1550 employees will be fired in the layoffs.

Which locations will see the ArcelorMittal Layoffs Job Cut
The layoffs will happen in Germany and Belgium.
Around 750 jobs (450 in Bremen and 300 in Eisenhttenstadt) will be cut in Germany. While in Belgium, a voluntary separation programme for 800 employees is planned.

What are the primary reasons for the ArcelorMittal Layoffs Job Cut
Same old story, economic downturn, financial crisis and low demands.

As per the news, The L N Mittal-led company said that the jobs of another 450 employees at its Bremen unit and 300 at the other German plant would be affected temporarily. However, they will not have to leave the company but will have reduced working hours and can apply for part-time work at the units where they are working now, Langner said.

Will there be any ArcelorMittal Layoffs Job Cut in India?
The company did not say anything about the job cuts in India.

Langner said the company is enforcing semi-retirement plans, reduced working hours and part-time work to beat the recessionary trends globally.
The company has cut output by as much as 35%. ArcelorMittal produced about 116 million tonnes and clocked a revenue of USD 105.2 billion last fiscal.

Let's hope that alternative jobs are available to the affected employees of ArcelorMittal Layoffs Job Cut.

Danaher Layoffs Job Cut: fires 1700 employees

The economic situation is worsening in multiple sectors. The latest one to add to the list is the Danaher Corporation, a fortune 500 company has decided to layoff 1700 employees. Danaher Layoffs

Danaher Corporation is into manufacturing business and is based in Washington, and makes tools, sensors and medical equipment, makes everything from Craftsman tools to water treatment systems and dental equipment

How many employees will be laid off in Danaher Layoffs Job Cut?
Around 1700 employees will be fired in the layoffs.

Any locations and facilites affected by Danaher Layoffs Job Cut
Yes. It is learnt that along with the job cuts, 13 facilities will be shut down.

How much savings can be made due to Danaher Layoffs Job Cut
Around 100 million USD can be saved by the layoffs and closure of facilities.

When will the Danaher Layoffs Job Cut happen?
The developments will take place in the fourth quarter of 2008.

What are the reasons for Danaher Layoffs Job Cut
The company blamed the "current economic backdrop."

Any pay cuts by Danaher ?
Yes. the company will be imposing a wage and salary freeze across most of its businesses, moves it said would allow it to "outperform during these challenging times."

As per the news, it now expects to report fourth quarter 2008 adjusted earnings in the range of $1.03 to $1.10 a share, well below the range of $1.17 to $1.25 a share it provided in mid-October and down from last year's $1.12 a share. It said its net profit, which includes a variety of one-time items, including the restructuring charges, would fall in the range of 82 to 89 cents a share, down from 97 cents last year.

Let's hope that alternative jobs are available to the affected employees of Danaher Layoffs Job Cut.

Wyndham Worldwide Layoffs Job Cut: fires 4000 employees

The economic situation is worsening in multiple sectors. The latest one to add to the list is the Wyndham Hotelss Group WYN which has decided to layoff 4000 employees. Wyndham Layoffs

How many employees will be affected by the Wyndham Worldwide Layoffs Job Cut
Around 4000 employees will loose their jobs as a part of the layoffs by the Hotels group.

When will the layoffs actually happen by Wyndham Worldwide Layoffs Job Cut
The layoffs would happen in the first quarter or first 3 months of 2009

What are the primary reason for Wyndham Worldwide Layoffs Job Cut
Restructuring of business, and scale back of the timeshare business are the main reasons for layoffs. Wyndham's hotels include Ramada, Days Inn and Super 8 chains.

How much % does the Wyndham Worldwide Layoffs Job Cut represent?
The 4000 job cuts are about 12 percent of the company's overall work force.

How much savings can be made by Wyndham Worldwide Layoffs Job Cut
Around $75 million can be saved with the job cuts.

As per the news, Wyndham now expects sales in the timeshare business will be $1.2 billion in 2009, down from $2.0 billion in 2008, as it eliminates sales offices and marketing programs. Wyndham also reiterated its fourth quarter and 2008 guidance. But based on the changes to its timeshare business and current economic conditions, the company says it now expects to earn revenue of $3.7 to $4.1 billion for 2009, down from previously announced expectations of $4.1 to $4.5 million for the year

Let's hope that alternative jobs are available to the affected employees of Wyndham Layoffs Job Cut.

Sony Layoffs Job Cut: fires 16000 employees

One of the big electronics companies of the world, Sony is learnt to go for a round of massive layoffs or job cuts. Since the entire global markets and businesses are suffering from the downturn, this company also seeems to be affected and affected in a big way to cut more than 16000 jobs. Just few days back, we had reported about Sony Ericsson Lay off Job Cut Firing 450 employees, then there were Sony job cuts recently in France. Now the list is going multi-folds. Sony Layoffs

How many employees will be fired in Sony Layoffs Job Cut?
Around 16,000 employees will be laid off in Sony Layoffs.

Which segment of employees will be affected in the Sony Layoffs Job Cut?
Around 16,000 permanent and part-time jobs from its worldwide electronics division will be cut.

Which locations will see the Sony Layoffs Job Cut?
The layoffs by Sony will be worldwide and all regions across the globe are expected to be affected.

How is Sony going to cope up with the economic problems?
SOny's layoffs are the first step to cut back on cost and make some efficient savings. Then it is learnt that it will raise prices for its gadgets in the face of dwindling consumer spending.
Then there will be massive restructuring, which will see a lot of ups and downs. Many units will be shut down which are learnt to be unprofitable loss-making and not in the core of Sony business.

Any specific divisions which will be affected by Sony Layoffs Job Cut?
The video games and movie businesses are the ones that are on radar. The move will not affect its flagship Playstation3 games console, but will push up prices of Blu Ray disc players and batter the competitiveness of core Sony products at a critical time.

When will the Sony Layoffs Job Cut happen?
It will be a bad new year for many employees as the job cuts are expected to happen in early Next Year.

Let's hope that alternative jobs are available to the affected employees of Sony Layoffs Job Cut.

Barclays Layoffs Job Cut: fires 100 employees at Cardiff

One of the financial companies of the world, Barclays learnt to go for a round of layoffs or job cuts. Since the entire global markets and businesses are suffering from the downturn, this financial company also seeems to be affected. However, what might turn out to be irritating for the laid off employees is the fact that this move by Barclays is for outsourcing the jobs to a low cost center like India (or others), where Barclays offshore center is in Pune, India. Barclays Layoffs

How many employees will be fired in Barclays Layoffs Job Cut
Around 109 employees will loose their jobs in the Barclays layoffs.

Which location will the Barclays Layoffs Job Cut happen?
The layoffs will happen at Welsh capital, Cardiff, UK.

Which business segment will be affected by the Barclays Layoffs Job Cut
The affected division is the one which handles the accounts of deceased customers.

The move was greeted with dismay by the banking sector union Unite, which said it had grave concerns about outsourcing such a sensitive function.

Where will the jobs be transferred or outsourced after the Barclays Layoffs Job Cut
The jobs will be transferred to a third party outsourcer based in Warwickshire beginning in Easter 2009.

As per the news, The latest move is a double blow for the Cardiff City workforce, following Barclays' decision in July to shutter its Firstplus loans operation with the loss of 300 jobs.

Let's hope that alternative jobs are available to the affected employees of Barclays Layoffs Job Cut.

ANZ Layoffs Job Cut: fires 400 employees

One of the financial companies of the world, ANZ learnt to go for a round of layoffs or job cuts. Since the entire global markets and businesses are suffering from the downturn, this financial company also seeems to be affected. ANZ Layoffs

How many employees will be fired in the ANZ Layoffs Job Cut?
Around 400 employees will be laid off in ANZ layoffs.

Were there any previous ANZ Layoffs Job Cut?
Yes. It is learnt that the company was slowly cutting jobs over the past few months, and with these latest 400 job cuts, the total layoff figure from ANZ will stand at 800. This 800 firing is around 2% of total ANZ workforce.

Which segment or level employees are affected by ANZ Layoffs Job Cut?
Primarily, the middle level management.

When will the layoff actually happen?
Around December end.

As per the news, "While no one likes job losses, we have tried to ensure that in difficult circumstances our managers have all the help and support necessary to manage the situation and that all our employees, those departing and those staying, are treated consistently and with dignity," Mr Smith wrote in an email to his employees. He also warned that the effects of the current global financial crisis, which has caused large profit cuts at some of the country's biggest commercial banks and investment banking groups, would last for at least another two years.

Mr Smith's comments came as Macquarie Group's employees in Australia were digesting the impact of the news on Thursday that at least 100 jobs would be cut from its Sydney and Melbourne offices. These affected its investment banking arm and its property, real estate and infrastructure businesses.

Let's hope that alternative jobs are available to the affected employees of ANZ Layoffs Job Cut.

Nomura Asia Layoffs Job Cut: fires 100

Just few days back, we had reported that Nomura will be cutting 100 jobs in London. One of the largest financial companies of the world, which had recent taken over the bankrupt Lehman Brothers, is learnt to go for another round of layoffs or job cuts - this time in Asia. Since the entire global markets and businesses are suffering from the downturn, this company also seeems to be affected. Nomura Layoffs

Where will Nomura Layoffs Job Cut happen?
The job cuts will be made primarily in Asia, but outside the home country Japan. Hence, it is expected that countries like India, Singapore, HongKong, etc. may see the layoffs by Nomura.

How many employees will be fired in Nomura Layoffs Job Cut
Around 100 employees will loose their jobs.

When will the Nomura Layoffs Job Cut happen?
It is learnt that the layoffs will be done by the end of December, meaning a bad New Year and Christmas for many affected employees.

What are the primary reasons for Nomura Layoffs Job Cut
Consolidation of Businesses after the takeover of Lehman Brothers, to achieve cost cutting.

Nomura took on about 1,500 employees from Lehman's operations in the Asia-Pacific region, excluding Japan. Shares of Nomura were up 8.7% at 686 yen in afternoon trade in Tokyo, outperforming the benchmark Nikkei average which was flat.

Let's hope that alternative jobs are available to the affected employees of Nomura Layoffs Job Cut.

Solar Panels: Sources, Installation, Technology Introduction

So now, that you may have decided to put up the solar panels for your home use or office use to conserve electricty and heat and go for efficent energy usage, there are other options available too. Say you may not like to invest in using solar energy, but you may like to benefit from that technology. You can then consider investing in the Alternative Energy Mutual Funds which cover areas like Solar Power, Wind Power, biomass, Geothermal sources, etc. Then, here is the article about the Recent Performance of the various alternative energy segments Or say, you still want to stick to the traditional fossil fuels, then you may like to consider Taking a Crude Oil Futures Position Solar Panels

Solar Cells, Solar Panels or Solar Energy Boards, all the terms lead to the same set of devices - those used to connvert solar energy into usable heat energy or electricty. In this article, we discuss the following:
How Solar Panels can be installed, Types of Solar Panels, How Solar Energy be converted to Heat or Electricity, How can Solar Panels be used for home applicances or residential solar power, etc.

Now, as per Wiki, the term "Solar panel" can be used to describe two types of devices that collect energy from the sun and transform it to usable heat energy or electricity:

-- Solar photovoltaic modules use solar cells to convert light from the sun into electricity.
A Solar Panel, photovoltaic module or photovoltaic panel is basically a pack of interconnected photovoltaic cells, or solar cells. You can also have interconnected photovoltaic panels which can be called be a photovoltaic array. Since most of the material used here is metallic, it requires protection from corrosion through proper packaging and glass covering. To focus the high intensity of solar power at designated areas or points, lenses are used. Another design concept is to split the light into different wavelength ranges and direct the beams onto different cells tuned to the appropriate wavelength ranges. This is expected to raise the energy efficiency to 50%. Sunlight conversion rates can be in the range from 5-20% in commercial production (solar panels), that can be lower than cell conversion.
The basic idea of solar panel on Photovoltaic solar panel is to take the Solar energy and convert it to heat or electrical energy.

-- Solar thermal collectors use the sun's energy to heat water or another fluid such as oil or antifreeze.
Then, we have the Solar thermal collectors which are widely used for heating water or other liquid. Known as one of the most energy efficient Systems, this installation is quite common in Western Countries. Basically, you can have various shares of themal collectors, like
* Flat plate
* Evacuated tube
* Pool or unglazed
* Air
* Box type
* Parabolic trough
* Parabolic dish
* Power tower
* Solar pyramids
* Volumetric thermal collectors

They do the same task of converting the solar energy into heat energy. They come with advantages of reaching upto high temperatures, Excellent Energy Efficiency, Comparatively cheaper than the photovoltaic solar cells, will take less space by efficient use of mirrors, and can be used for energy trasmission to far points through the use of optical fibre networks

Dow Chemicals Lay off Job Cut: fires 5000, closes 20 plants

Dow Chemicals, one of the largest chemical companies of the world, is learnt to go for a massive layoffs or job cuts. Since the entire global markets and businesses are suffering from the downturn, this company also seeems to be affected. Dow Chemicals Bankruptcy Layoffs

How many employees will be fired in the Dow Chemicals Lay off Job Cut?
Around 5000 employees of 11% of the total employee headcount will see the job cuts.

Any plant that will be shut down by the Dow Chemicals?
Yes, the company is expected to close around 20 plants. It will also sell several businesses to reign in costs amid the economic recession.

How much savings can be achieved by the Dow Chemicals Lay off Job Cut?
It is expected that there will be a saving of about $700 million per year by 2010.

Any temporary employees affected by Dow Chemicals Lay off Job Cut?
Dow also will temporarily stall the work at 180 plants and cut back on 6,000 contractors from its payroll.

Any official statements by Dow Chemicals ?
"We are accelerating the implementation of these measures as the current world economy has deteriorated sharply, and we must adjust ourselves to the severity of this downturn," Chief Executive and Chairman Andrew N. Liveris said in a statement.

ANy reorganization for Dow Chemicals ?
Yes. It is expected that "the new Dow" will be only of 3 units:
1. Joint ventures; performance products;
2. and health and agriculture, advanced materials and
3. other market-facing businesses
.

Let's hope that alternative jobs are available to the affected employees of Dow Chemicals Layoffs Job Cut.

Wagon Automotive may go bankrupt Lay off Job Cut: fires 4500 jobs in danger

Wagon Automotive, the largest car parts maker in the UK, may go bankrupt and file for bankruptcy. At the same time, Wagon Automotive is learnt to go for a massive layoffs or job cuts, all atttributing to the bankruptcy problems. The company is in the business of making car parts and products, and since the entire global markets and businesses are suffering from the downturn, this company also seeems to be affected. Wagon Automotive Bankruptcy Layoffs

As per the news, Wagon Automotive, one of the largest car parts maker in the UK, is taking steps to file for bankruptcy, a move which would reportedly cost up to 4,500 jobs.

How many jobs will be at stake due to Wagon Automotive Bankruptcy?
Around 4500 jobs will be at stake if the company declares bankruptcy.

What is the ownership and holding pattern for Wagon Automotive?
The company is controlled by WL Ross & Co, the entity run by American billionaire investor Wilbur Ross, which holds over 86 per cent stake in Wagon Automotive.

Any official statements issued by Wagon Automotive?
"Discussions with its principal stakeholders relating to the company's future funding position have broken down...the Board regrets to announce that it is taking steps to place the company into administration," the firm today said in a regulatory filing.

According to the regulatory filing, it is expected that Alastair Beveridge, Simon Appell and Stuart Mackellar of Zolfo Cooper LLP would be appointed shortly as joint administrators to Wagon plc and several UK subsidiaries.

Let's hope that alternative jobs are available to the affected employees of Wagon Automotive Layoffs Job Cut

InBev Anheuser-Busch Lay off Job Cut: fires 1400 employees

As per the news, Anheuser-Busch is learnt to go for a massive layoffs or job cuts. The famous company is in the business of making alcholic beverages and products, and since the entire global markets and businesses are suffering from the downturn, this company also seeems to be affected. Anheuser-Busch Layoffs

This company has the famous brand called Budweiser. It was also the company which was acquired by InBev for a record USD 52 billion few days back and these layoffs seem to be the part of this acquisition.

How many employees will be fired in the InBev Anheuser-Busch Lay off Job Cut?
There will be layoffs of 14000 employees. This will be around 6% of the total headcount of US workforce. Other than that, the new 250 open positions will continue to remain open.

Which locations will the InBev Anheuser-Busch Lay off Job Cut happen?
Around 75% of the jobcutss will happen at corporate headquarters in St. Louis.

Any specific segments will be affected in the InBev Anheuser-Busch Lay off Job Cut?
An additional 415 contractor positions will be pruned from the payroll.

When will the InBev Anheuser-Busch Lay off Job Cut happen?
Most of the reductions will occur before 2009.

As per the news, the company said the reductions are in addition to the more than 1,000 U.S. salaried employees who took buyouts in a program that ended Nov. 14.

The program was part of a $1 billion cost reduction plan announced in June. At that time, Anheuser-Busch said it planned to cut its U.S. full-time salaried workforce to 10 to 15% by the year's end.

When InBev announced in July it would take over Anheuser-Busch, the company said it planned to save at least $1.5 billion annually

Let's hope that alternative jobs are available to the affected employees of Anheuser-Busch Layoffs Job Cut.

Crude Oil prices: What affects determines Oil prices

Over the last few months, we have witnessed a flurry and a very high level of volatility in the Crude Oil Prices. On one hand, there are experts from Goldman Sachs who were saying that the Oil Prices will go to as high as $200 per barrel, and on the other hand, there are the experts from Merrill Lynch, who now claim that the Oil prices will come down to as low of $25 per barrel. All in all, what has happened is that from the levels of $70 per barrel, the Crude oil prices went to the highs of $147 per barrel and then started falling back and are now trading at around $41 per barrel. Crude Oil

The question here is how are Crude oil prices determined? What drives the crude oil prices, how do traders and investors arrive at Crude Oil prices. In this article, let's look at the answers to some of these questions.

Everyone agrees that Crude Oil today stands as one of the basic and certain needs for energy and has a prime importance in the commodiites market. Therefore you see a lot of interest in the Oil Futures Trading which slips into heavy discounts or get into high Premiums every now and then. Despite the invention of Alternative Sources of Energy (Read Alternative Energy mutual funds), Crude oil still stands as a primary source of energy needs.
This is the reason that not only traders and marketmakers all across the globe, but even corporations, organizations and even governments keep a close eye on the oil prices. Oil prices are responsible for rise or fall of governments. The price variation in crude oil impacts the sentiments and hence the volatility in stock markets all over the world. The rise in crude oil prices is not good for the global economy. Price rise in crude oil virtually impacts industries and businesses across the board. Higher crude oil prices mean higher energy prices, which can cause a ripple effect on virtually all business aspects that are dependent on energy (directly or indirectly). Related Article: Crude Oil Price: Can you bet on Crude Oil Futures NOW? News

So what affects the Oil prices?
There are certain features which affect the global crude oil prices. We are listing them below:

Production of Crude Oil
OPEC (Organisation of Petroleum Exporting Countries) is the largest conglomerate for producing oil in the world. Any decisions made by OPEC countries to raise the prices or reduce production, immediately impacts the prices of crude oil in the global commodity markets.

Effect on Oil Prices by Natural events
Say a major oil field area is hit by a natural disaster like a huri-cn or a Tusmaani. What will happen? The production will be affected, which will lead to price rise. Recently we have seen many such things in US which have affected the oil productions and taken the oil prices to very high levels.

Black marketing, creating reserves and Inventory for Crude Oil
This is another reason for crude oil price volatility. Sometimes, Oil producers and consumers build a storage capacity to store crude oil for immediate future needs or simply to try and gain from speculation and create a shortage of oil in the market.Any change in these inventory levels triggers volatility in crude oil's prices which in turn creates ripples in the stock markets.

Demand of Crude Oil
Emerging Countries liek India and China are energy hungry, given their huge industrialization plans and energy requirements for a huge population. On top of it, these countries may not have their own resources for getting the oil. Hence, they import oil from other countries. If the demand for oil from these countries increases, the crude oil prices will shoot up and so will the premium on the crude oil futures trading

Any periodic or seasonal or cyclic pattern observed in oil prices
It is observed that oil inventories increase in the summer months and decrease in the winter months. This is because cold temperatures in the winter increase the use of energy for heating in many cold countries. The demand for fuel goes above supply and results in a need to tap inventories. Similarly, during summers, supply generally exceeds demand and petroleum inventories build up. Hence, the crude oil prices drop.

BMC Software Layoffs Job Cut: layoff 350 employees

As per the news, BMC Software is going for a massive layoffs or job cuts. The company is in the business of making Business Softwares, and since the entire global markets and businesses are suffering from the downturn, who would like to buy new business softwares. BMC Software Layoffs

When will the BMC Software Layoffs happen?
The layoffs are expected this month in December 2008.

How many employees will be affected in the BMC Software Layoffs?
Areound 350 employees will be fired from their jobs. That will be around 6% of its entire workforce.

Which business units will be affected in the BMC Software Layoffs?
The job cuts will be made in all business units and all corporate departments and at all geographical regions. That will mean that even offshore centers like Pune in India may not be spared from BMC Layoffs.

What are the financial results of BMC Software?
BMC said it expects to record $18 million to $23 million in layoff-related charges in the third and fourth quarters of fiscal 2009.
As of March 31, BMC employed approximately 5,800 full-time workers, according to a separate SEC filing.

Let's hope that alternative jobs are available to the affected employees of BMC Software Layoffs Job Cut.

Intel Layoffs Job Cut: may layoff employees

As per the news, Intel may be gooing for a massive layoffs or job cuts in the coming few months. The market experts predict this because of the deteriorating market conditions, dipping sales of Intel processors and worst economic outlook.
Intel Layoffs

Though there are no confirm news from the company side, but these are market predictions by the market analyst which, given the market situation, seems to be quite possible.

How many employees may be laid off in Intel Layoffs?
Intel Corporation could be preparing to lay off as much as 10 percent of its work force.

What have been the financial results of Intel recently?
It is predicted that Intel may have to cut down on its fourth-quarter guidance for the second time, because the economic crisis has caused computer makers to sharply curtail the amount of processors they buy for those machines.

Friedman, Billings, Ramsey & Co. analyst Craig Berger wrote in a note to clients that "recent industry checks" suggest that Santa Clara, Calif.-based Intel is preparing a large work force reduction that could be as high as 8,300 employees, or 10 percent of its global staff.

ANy previous record of Intel Layoffs?
Yes. Intel did a layoff in 2006, when about 10500 jobs were cut as smaller rival Advanced Micro Devices Inc. was stealing market share and cutting deeply into Intel's profits in a bruising price war.

How much money can be saved from this Intel Layoffs?
Berger said Intel could save $1 billion a year from a new restructuring and by reducing or eliminating some raises and bonuses because of the company's performance.

Latest: Intel Confirms Plans to layoff 6000 employees

Let's hope that alternative jobs are available to the affected employees of Intel Layoffs Job Cut, if they happen.

Reliance Layoffs Job Cut: layoff 5000 employees

Till now, we had been hearing that Indian Companies are not affected by the global slowdown. Is it really true? No. As per the news, the largest company of India, Reliance has decided to go for a massive layoffs or job cuts in all group companies. The news was released by IBN LIVE, stating that Reliance and group companies have asked around 5000 employees to resign or forceful job termination. We had reported in October about the Reliance layoffs Job Cut. Now, this news confirms the same.
Reliance Layoffs

Which companies of Reliance are worst affected by Layoffs Job Cut
The majority of the layoffs will happen in the Retail segment. Though other companies will also face the heat. Some of the companies involved in the exercise are Reliance Retail, Reliance Logistics, Reliance Info Systems and Reliance Corporate Park. The resignations, as against a straight lay-off, leave employees in a better position to find new jobs.

Which class of employees are affected by Reliance Layoffs Job Cut
Majority of the employees are permanent, middle-level managers.

Any number available about the Reliance Layoffs Job Cut
Around 3000 employees in the Reliance Retail sector may be asked to go. There are plans to stop the expansion plans.

What went wrong with Reliance business plans?
The Reliance retail was started with an investment of 25,000 Crore Rs. The plan was to to have all kinds of retail shopping to be covered. However, due to the global economic slowdown, majority of their middle level customers, typically the IT guys and others, have seen the heat of job cuts and salary cuts. People have started saving every penny by shopping at the cheapest possible outlets. It is becoming increasingly difficult for Reliance to keep up the business due to the slow response of the customers. Associate companies like Reliance Gems and Jewels, Reliance Supply chain, Reliance Dairy Production and Reliance Agri Products expnasion plans are takin a toll too.

Then there were protests by small retailers and the politicians. Now, employees in nearly all departments related to the retail business are being fired, said a former employee, who recently left.

In some states, the protests and slowdown have meant the company has decided not to open stores there. Real estate teams are down to one person in such places and other places. While electronics store chain `Reliance Digital’ was supposed to have 20- 25 stores in the first year but actually opened only 3- 4, the hypermarket format was supposed to open over a hundred stores but has opened only two.

In the footwear store chain and health and wellness store chain, Reliance had hired aggressively to keep up with the expansion, but plans didn't materialize.

Reliance Logistics, a Mumbai-based company managed by the RIL chairman’s cousin Niraj Ambani, is one such case. The privately held company that was started in 2001, employs about 2,600 people, of which about 1,000 have been asked to leave in the last two weeks.

Marketing, process quality and business planning departments in the company are being shut down. Employees were given oral orders to resign and have been given the option of staying home and collecting their salaries for the next three months, sources who did not want to be named said.


Since the beginning of the year, this company had been doing third-party work for other companies in the retail business like ITC and Hindustan Unilever. But this has dried up.

Sources in Reliance Retail Limited, a direct RIL subsidiary, said many employees in support functions including information technology have been put on notice. The retail rollout has slowed down considerably specially in Uttar Pradesh, Kerala and West Bengal.

Reliance East West Pipelines has completed construction of the pipeline that will transport gas from the east coast to markets in western India. In better times, RIL would have deployed the white collar workforce to other projects. This time around, 400 employees are anxious as no orders have been received.

Let's hope that alternative jobs are available to the affected employees of Reliance Layoffs Job Cut.

Sony Layoffs Job Cut: layoff 320 France employees

It's the Japanese Electonic giant calle dSony Corporation which has decided to go for a layoffs in France. This bad news for the Sony employees came on Friday when the company officially declared that it has decided to shut down the factory and go for a jobcut.
Sony Layoffs

Sony has decided to close down its factory which is making making videotapes in France

The primary reason for closing down this factory is due to declining global demands of video tapes. WIth the advent of digital media, who would like to carry on with the traditional videotapes.

The fate of the factory's 320 workers remained unclear, but Sony spokesman Shusuke Kanai has said the company was doing its utmost to help them after the closure.

"Global demand for videotapes has been declining as people are switching from videotapes to discs," Kanai said. Sony aims to close the factory, located south of Bordeaux, by the end of March next year.

Sony makes about 80% of its sales overseas. The Japanese electronics giant has slashed its full-year earnings projection due to weak consumer demand and a stronger yen. For the fiscal year through March 2009, Sony is expecting a 150 billion yen ($1.6 billion) profit, down 59% from the previous year.

Let's hope that alternative jobs are available to the affected employees of Sony Layoffs Job Cut.

Crude Oil Price: Can you bet on Crude Oil Futures NOW?

OK, so you've been an active trader who has been trading on Crude Oil Futures and have enjoyed a handsome profit from your Crude Oil Futures Trading given the huge volatility we've seen over the past few months. The Crude oil prices have shot from $70 per barrel to almost $150 per barrel and now they are back to the lowest prices in last 4 years and have touched to bottoms of $45 per barrel. The million dollar question to ask is, where are the oil prices headed? Are Oil Prices going to shoot up further or are they going to test new bottoms or are they going to remain range bound and if yes then within what range?Crude Oil

The so called market experts keep making their forecasts - The genius at Goldman Sachs who predicted that oil prices will go to touch $200 per barrel has been proved correct, but only partially, beacuse the oil prices did touch around $147 and then started to downwards trend and are now staying at the $45 levels. So, can you trust any other similar genius?

Then comes the circus of the economic cycle - the so called market experts trading oil and oil futures, are telling an inverse relationship between the health of the US economy and the oil prices. According to them, the oil prices and the premium/discounts of Crude Oil futures are invesrly related. If the US economy is healthy, then the crude oil prices will be high, and when the US economy is weak, then the Crude oil prices and the premium/discounts on the Crude Oil Futures will be low/high. Can you trust them and can you take a position is the oil futures for a short term view?

Then, the latest report from Merrill Lynch about the future prediction of oil prices is completely different from these predictions. Merrill Lynch warned that oil prices could fall as low as $25 a barrel next year if the recession affecting the US, Europe and Japan extended to China, the main driver of demand growth in commodity markets in recent years. India too is a major consumer of oil and their high pace growth story will get affected, given the huge dependency they have on overseas countries especially for offshoring and other exports. Merrill's warning came as oil prices sank below the $44 a barrel on Thursday, the lowest level in almost four years, in spite of dramatic interest rates cuts in the UK, Europe and Sweden.

Related: How Crude oil prices are determined?

Now, if you look closely at all these factors, what can you conclude? Still, the dilemma continues on where are the oil prices headed. Are the oil prices going to hit the high side and the crude oil futures trading turn into huge premium, or will the oil futures get into heavy discounts if the oil price fall? Nobody is certain - the oil traders and oil market makers are making hay when the sun shines. Individual investors are advised to stay away from these risky businesses, especially trading crude oil futures or crude oil options, where you never know which way the oil prices are going to go. Instead, invest for long term in Alternative Energy Mutual Funds as mentioned in this article. We also discuss which sub-sectors within the Alternative energy segments have performed better than the rest in the article Alternative Energy Sub Sector recent performance

Nomura Layoffs Job Cut: layoff 1000 London employees

Another financial giant, Nomura has decided to go for a layoffs or job cut. Its the same Nomura which has bought over the Asian assets of the bankrupt Lehman Brothers and now it has decided to go for a massive lay offs in London. Nomura Layoffs Job Cut

How many employees will be laid off in Nomura Layoffs Job Cut?
Around 1000 employees will be fired by Nomura.

Where will the Nomura Layoffs Job Cuts happen?
The Nomura job cuts will happen in London, which is the European financial hub.

What are the main reasons for the Nomura Layoffs Job Cut?
Nomura is a Japanese giant in brokerage services. Due to the current global market turmoil, it has been severly hit as did the other financial institutes. There are reports of , JP MOrgan WaMu Layoffs, Lehman Brothers Bankruptcy, Citibank Layoffs, UBS layoffs , GS Layoffs and many more. The layoffs will also give way for an internal review of Nomura's equities and investment banking works.

How are the Nomura employees scattered as per the geographical locations?
Of the 8,000 former Lehman employees that Nomura added to its global payroll, about 2,650 are based in Europe and the Middle East.
Nomura currently employs about 4,500 people in London, and the cuts will not be limited to former Lehman staff, said Nomura spokesman Tohru Namikawa.

Let's hope that alternative jobs are available to the affected employees of Nomura Layoffs Job Cut.

Adobe Layoffs Job Cut: layoff 600 employees

The Information Technology space is seeing one of the worst times as there are more and more news items reported about the layoffs in the IT sector. Adobe has decided to go for a layoffs or job cut. Adobe Layoffs Job Cut

How many employees will be fired in the Adobe Layoffs Job Cut
Adobe has decided to lay off around 600 employees.

What are the financial results of Adobe in the latest quarter?
The financial results have been well below the expectations. The fourth quarter revenues are expected to be between $912 million and $915 million, instead of the targeted $925 million to $955 million.

Is there any specific product which has led to the decline in Adobe revenues?
Ye. The Creative Suite 4 is said to have failed to meet the sales target.

Why is Adobe going for Layoffs Job Cut?
Its to reduce the costs and recover some money by savings. The global economic meltdown has affected evry industry secotr and Adobe is no exception to it.
The restructuring program should result in charges totaling approximately $44 million to $50 million, of which $28 million to $30 million will be recorded during the fourth quarter of 2008. Adobe also issued a 2009 Q1 revenue projection of $800 million to $850 million.

Let's hope that alternative jobs are available to the affected employees of Adobe Layoffs Job Cut.

United Airlines Layoffs Job Cut: layoff 1200 employees

Airlines appear to be the worst hit sector for in the current financial turmoil. We had reported in October that United Airlines is firing 414 employees and now there is another round of layoffs. Another setback to the employment sector of the USA, the United Airlines has decided to go for a layoffs or job cut. United Airlines Layoffs Job Cut

How many employees will be laid off in United Airlines Layoffs Job Cut
Around 1200 employees will be asked to quit their jobs.

When will the United Airlines Layoffs Job Cuts take place?
The layoffs are expected to start in early next year, meaning that it will be a bad start for the new year for all the affected employees.

What impact will it have on the busines of United Airlines ?
The Airline will be grounding around 100 airplanes , which makes around 20% of its fleet.
Though the oil price are now touching rock bottom at $45 per barrel, but it is expected that the Oil prices will again take a high once the global economy starts to recover. So even if someone wants to trade Oil futures or take a hedged position in the oil futures, it may be diffcult to ascertain the time and price.

Which department of United Airlines will be affected by the Layoffs Job Cut?
As per the reports, United plans to lay off about 700 mechanics, as of Jan. 11, including about 150 workers at Chicago's O'Hare International Airport. Most of the jobs to be eliminated were announced earlier this fall but deferred until after the busy holiday travel season, sources said.

Which locations will the United Airlines Layoffs Job Cuts take place?
The carrier plans deep cuts at its hulking San Francisco maintenance base, where about 300 jobs will be eliminated, sources said. United is closing repair stations at LaGuardia Airport in New York, Newark International Airport in New Jersey and Philadelphia International Airport.
United also has issued notices that it plans to furlough as many as 490 customer service representatives and ground workers at three airports, with the largest of these cuts at O'Hare. Last month, United sent letters warning of pending job cuts to 253 full-time and part-time employees at O'Hare, according to the International Association of Machinists and Aerospace Workers, which represents the workers.

The carrier is also set to lose 387 pilots in January, a source said. That would be the largest monthly exodus of United pilots since the carrier announced in June that it would trim 1,450 pilots.

Let's hope that alternative jobs are available to the affected employees of United Airlines Layoffs Job Cut.

Metorex Layoffs Job Cut: layoff 350 employees

Few days back, there were news items about South Africa based Simmers & Jack Mines Lay off which fired 500 employees and now another mining firm from South Africa called Metorex has decided to go for a layoffs or job cut. Metorex Layoffs Job Cut

How many employees will be affected in the Metorex Layoffs Job Cut?
There is no information available about how many employees will be laid off. Though the news is that Metorix is planning to lay off around 400 workers.

How many employees are presently employed by Metorex?
There are 1500 workers currently employed with Metorex.

What are the reasons for the Metorex Layoffs Job Cut
Same old reasons, decline in demand, cut costs, global economic meltdown, financial crisis and so on.
"Due to the international decline in demand for antimony and the decrease in antimony prices from approximately $6,500 to $5,000 per tonne, management has initiated a review of the cost profile of Cons Murch," it said in a statement, adding 50 percent of its costs were labour related.

Let's hope that alternative jobs are available to the affected employees of Metorex Layoffs Job Cut.

AT&T Layoffs Job Cut: layoff 350 employees

There is another setback signal to the ailing US economy. The electronic giant AT&T has decided to go for a massive layoffs or job cutsAT&T Layoffs Job Cut

AT&T Incorporated which is headquartered in Dallas USA has annouced plans for a massive lay off.

How many employees will be affected in the AT&T Layoffs Job Cut?
Around 12,000 employees will loose their jobs at AT&T. That is about 4 % of the total headcount that AT&T has nationwide.

Which locations will be affected by the AT&T Layoffs Job Cut?
The layoffs by AT&T could affect some of the estimated 3,000 company employees in Tarrant County.

When will the AT&T Layoffs Job Cut?
The layoffs are scheduled for the phased timeframe. It will start in December 2008 and will proceed in a phased manner throughout 2009

Are there any compensation offered to the employeed affected by AT&T Layoffs Job Cut?
Yes. Though minor details are not available, but it is reporeted that AT&T is expected to take a charge of about $600 million in the last quarter of 2008 to pay employee severance packages. These layoffs come on top of the 4,600 jobs the company said in April it would eliminate around the country.

Economic pressures, a changing business mix and a more streamlined organizational structure were all cited as contributing to the cuts, but the company is still adding jobs in areas related to wireless, video and broadband. AT&T plans to reduce its 2009 capital expenditures from 2008 levels, and capital plans for next year are currently being finalized and will be available when fourth-quarter results are released in late January.

Let's hope that alternative jobs are available to the affected employees of AT&T Layoffs Job Cut.

Child Care Leave clarifications Office Memorandum: Sixth Pay Commission Recommendations

The latest news on the Sixth Pay Commission is related to the Child Care Leave. Below, we presnt the text as it appears on the Office Memorandum Ministry of Personnel, Public Grievances and Pensions Department of Personnel & Training. Though utmost care has been taken to replicate the text as it is, but E&OE. Wikipedia on Sixth Pay Commission Ministry Site Wikipedia on Sixth Pay Commission News. Sixth Pay Commission Child Care Leave clarifications

Subject:-Child Care Leave in respect of Central Government employees as a result of Sixth Central Pay Commission recommendations Clarification regarding.

The undersigned is directed to refer to this Department's O.M. of even number dated 11th September, 2008 regarding introduction of child care leave in respect of Central Government employees and subsequent clarifications vide O.M. dated 29th September, 2008 and 18th November, 2008. It is further clarified that child care leave sanctioned prior to issuance of O.M. No. 13018/2/2008-Estt.(L) dated 18th November, 2008 shall be treated as child care leave and shall be deducted from the Child Care Leave account of the Government servant concerned. No adjustment against any other kind of leave shall be made in this regard. The Child Care Leave sanctioned for the period beyond 18/11/2008 shall however be regulated in terms of clarification issued vide O.M. of even number dated 18/11/2008.

Hindi Version to follow.

-Memorandum text ends

We had intitally provided many details about the Maternity Leave, Child Care Leave: Sixth Pay Commission and about the Child Care Leave: Sixth Pay Commission Pay Hike. Yesterday, there were some other news which was not liked by many.

Pratt & Whitney Layoffs Job Cut: layoff 350 employees

Now, it is the Jet engine maker Pratt & Whitney which has decided to go for layoffs. It is reported that most of these job cuts will be made at Connecticut. Pratt & Whitney Layoffs Job Cut

What are the reasons for Pratt & Whitney Layoffs Job Cut
Same old reasons as quoted by many other companies - falling demand, falling sales, global financial crisis and so on.

How many employees will be fired in Pratt & Whitney Layoffs Job Cut
Around 350 employees will loose their jobs in the country.

Any specific details of the location where Pratt & Whitney Layoffs Job Cut will be made?
Out of 350, around 280 job cuts will be made at Connecticut alone. Rest 70 will be spead across the other locations.

Any previous job cuts by Pratt & Whitney ?
Pratt had already cut more than 100 blue-collar workers in Connecticut this year, as well as an undisclosed number of salaried workers nationwide. Whitlow said the latest reductions would help mitigate falling revenue. The latest cuts amount to about 1 percent of Pratt's global workforce of 38,000 and 2 percent of its Connecticut workforce of 12,000.

Many of Pratt's business lines have been affected by the recession, including the highly profitable work of servicing and repairing engines for commercial airlines, company spokeswoman Jennifer Whitlow said. U.S. airlines have been cutting capacity and grounding aircraft all year.
Let's hope that alternative jobs are available to the affected employees of Pratt & Whitney Layoffs Job Cut.

Electrolux Layoffs Job Cut: layoff more employees

Now, it is the Electrolux plant at Webster City which has decided to go for layoffs. And these layoffs are in addition to the 100 job cuts which were made by the company last month. Electrolux Layoffs Job Cut

As per the news, there are more layoffs planned for Electrolux workers for the Electrolux washer and dryer plant in Webster City.

How many employees will be laid off in the Electrolux Layoffs Job Cut?
Thouogh there is no concrete detail available about the number of job cuts, but it is reported that there will be 20 layoffs and it will be in addition to the 99 layoffs that happened last month.

When will the Electrolux Layoffs Job Cut be done?
Officials say 20 workers will be laid off on Dec. 8.

Company spokesman Tony Evans says both rounds of layoffs are due to the economy and a softening demand for appliances.

Before the layoffs, the Webster City plant had 1,400 workers.

Electrolux announced in 2006 that it would eliminate 700 jobs in Webster City because production of its front-loading washing machines and companion dryers would move to Mexico. Those layoffs haven't happened.

Let's hope that alternative jobs are available to the affected employees of Electrolux Layoffs Job Cut.

Alternative Energy Fund Performance: Which Sub-sectors outperformed?

In this article, we will analyse the recent historical performance of the various sectors of the Alternative Energy Mutual Funds and typically, the Alternative Energy ETF. We have given an introduction about the Alternative Energy Mutual Funds in this article. We then gave a review about Solar Energy Mutual Fund in this article TAN ETF Claymore Solar Energy Fund and another review of a Wind Energy Mutual Fund in this article FAN ETF: Wind Energy ETF. We also gave details about the Guinness Atkinson Global Energy Fund GAGEX.
Biggest question that faces the investors is which sub-sector within the Alternative Energy is good enough for investments? Whether Wind Energy Stocks or Funds are better than Solar energy Funds and Stocks? Whether Fossil Fuel prices are performing better than alternte energy stocks and funds?

Now, its time for us to review the performance of these very funds, along with those like fossil fuels.
Below, we present a comparative graph of how these funds have performed.
Alternative Energy Fund Performance
The funds covered are:
TAN - Solar Energy Sector Fund
PWND- PowerShare Wind Energy portfolio Fund
KWT - Market Vector Solar Energyy Fund
FAN -Wind Energy ETF
GAGEX - Guiness Atkinson Fund for Alternative Energy


Now, the following important points can be noted down:
- All the various sector funds, be it Solar Energy, Wind Energy, or a combined Alternative Energy Fund, all have shown almost the same returns over the last few months.
- So it appears that there is no point in breaking our heads about which sub-sector within the Alternative Energy sector, should be chosen
- Ultimately, all the alternative energy related sub-sectors are performing the same way. What is the reason for such performance? Well, the main reason is that developments in these various energy sectors is still in the nascent state and is still unclear whether any of these sub-sectors will emerge as a front-runner for the future demand of energy. Fo e.g., both Solar Energy and Wind Energy are found to be efficient sources. However, there are no clear cut indications for future course which these sectors will take. There is nothing in sight whether solar energy or wind energy will be sufficient to replace the traditional fossil fuels. Another thing is the cost of infrastructure required to extract consumable energy from Wind, Solar, Biomass or geo Thermal segments.

Hence, as of now, all the Alternative Energy Stocks and Alternative Energy Mutual Funds are expected to perform the same way with respect to each other. There is no clear site whether this sub sector will outperform the other. Unless there are some real path breaking technical development which makes them really cheap and affordable.

Terrorism Insurance: Does your Insurance Policy Cover Terrorist Insurance?

Terrorism is the key word now-a-days. With terrorst striking almost all parts of the world, be it New York, London, Madrid, Mumbai or anywhere on this planet, there is a big and hidden risk of you loosing your life in a terrorist strike or terrorism attack.
The million dollar question to ask yourself and your financial advisors or your insurance agent is that "Am I covered for Terrorism Insurance?". Terrorism Insurance
Well, that's what is bothering the minds of millions of insurance policy holders across the globe, from USA to UK, from Spain to India, and to everywhere. The number of casualty have increased significantly due to terrorism attacks, and hence there is a need of terrorism insurance.

What is terrorism insurance?
Terrorism Insurance is the cover which you may get if you loose your life or get physically disabled in a terrorist attack. Unfortunatley, there is no clarity about whether your insurance policy covers you from such disaster.

Does my insurance policy covers Terrorism Insurance?
The answer is not clear. If your insurance policy document states that you are covered for dealth or disability due to a terror strike, then you must be covered. However, its better to confirm by calling your insurance company.
Most of the cases, your life insurance or accident insurance policy will NOT be covering your for Terrorist Insurance or Terrorism Insurance. The reason is that this term Terrorism Insurance is a relatively new concept and even the insurance companies are not aware about this kind of coverage. Forget about the common man like you and me who cant understand the nitty-gritties of the policies.

How about Personal Accident, Fire Accidents Auto Insurance, Car insurance and Shopkeeper's policy?
Say you are a shop-keeper and your shop is destroyed in a terrorist bomb attack. What do you do? Whether your shopkeeper insurance policy is covering that damage or not? OR while riding your car, and you are affected by a terrorist bomb blast- You are injured and your car is damaged. Can your accident insurance policy cover for your hospital treatment due to terrorism and will your car insurance claim be valid for car damage?
Again, your insurance company will be the right ones to ask these questions.

Some news is that there has been a recent hike in demand from the policy buyers to know whether terorsim insurance is covered or not. In India, Some news is that Public sector Insurance companies cover it, while private sector insurance companies dont.

You may have to pay additional insurance premium to buy the terrorism insuance cover.

Atlanta City Government Layoffs Job Cut: layoff 222 employees

Few weeks back, there was news about the NYC Lay off Job Cut. Now, it is the Atlanta Government which has decided to go for layoffs. Atlanta Government Layoffs Job Cut

It seems that no job is safe, not even the government jobs. This is the third round of layoffs by the city of Atlanta government.

How many employees will be laid off in the Atlanta City Government Layoffs Job Cut?
Around 222 employees will be laid from their jobs.

Which departments will be affected by the Atlanta City Government Layoffs Job Cut?
Fire and Police departments of Atlants will NOT be affected in the lay offs. However, other departments will see the layoffs.

How much saving is expected from the Atlanta City Government Layoffs Job Cut?
Around 14 million USD is expected to be saved through the layoffs.

Any other measures taken by Atlanta City Government to cut the costs?
Yes. It has been decided to close recreation centers, pick up yard trimmings and recyclable materials biweekly instead of once a week and reduce the city’s permitting staff by 20 percent. Mayor Shirley Franklin announced a series of reductions last month that will plug the rest of the deficit, including employee furloughs, a hiring freeze and a drawdown of $12 million from the city’s reserves.

As per the news, the cuts this fall are aimed at eliminating this year’s shortfall, two previous rounds of layoffs last May and June affecting several hundred jobs helped address a deficit in last year’s Atlanta budget .

Let's hope that alternative jobs are available to the affected employees of Atlanta City Government Layoffs Job Cut.

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