Housing
Thursday sees some big company names cut jobs.
Estee Lauder Cos., the maker of Clinique and Bobbi Brown cosmetics, will cut 2000 jobs as declines in makeup and perfume sales reduced second-quarter profit.
The job cuts, which represent 6 percent of the workforce, will occur over the next two years.
Starbucks, the company that spread around the world and infected our towns and villages is not immune to the job lay offs it seems. The head office in Seattle handed out roughly 40 pink slips to human resources and security workers. A further 60 people are to go around the countryside. They are the first layoff notices since the coffee company announced plans last week to close 300 stores and eliminate 6700 positions, including 350 at headquarters. The rest of the Seattle layoffs are expected in the next couple weeks.
A kitchen cabinets manufacturer called MasterBrand has laid off about a third of its workers at a plant in Grants Pass, thats 135 people – another victim of the burst housing bubble.
In Ohio, local chemical company Lubrizol Corp. plans to let go of 170 workers in an effort to save money. Lubrizol will cut 50 jobs at its Wickliffe headquarters, 40 jobs in Brecksville and 4 in Avon.
The Wall Street Journal, one of the last major U.S. daily newspapers to avoid deep cuts to its news gathering operations amid a historic industry downturn, is trimming about two dozen (24) newsroom jobs.
Bombardier Inc., the world’s third largest maker of commercial aircraft, plans to cut 1360 jobs at its aerospace unit, or 4.5 percent of the division’s workforce, as business jet deliveries are projected to drop this year. The company will slow production of its Learjet and Challenger planes amid “greater than usual” deferrals and cancellations for its business planes.
Vocation, Vocation, Vocation.
There is a brilliant flash video about the house market price crash. You can find it at Chris Parkers website. The video is entitled “Vocation, Vocation, Vocation” and it is brilliant!
Not so brilliant if you bought a house at the wrong time and it’s now worth less than you paid for it or has since been repossessed. (sorry).
This flash movie was dedicated to Kirstie Allsop of Channel 4′s “Location, Location, Location” who famously said that she would eat her hat if house prices in the UK dropped.
