According to Wikipedia;
Jessops was the United Kingdom’s largest specialist photographic retailer, which had 192 shops across the country. Many branches contained mini-labs that offered one hour processing or an “express’ 25 minute service.
It is a very sad day for the 1370 employers who have all lost their jobs. I am amazed Jessops lasted as long as it did, what with the online market taking off. I have purchased a number of cameras over the years and always found Jessops to be too expensive. I bought most of my cameras from Tottenham Court Road where prices were a lot more competitive than Jessops. I have also bought from the likes of Amazon and Pixmania and of course they can offer a lot better deals.
For me what I don’t understand is, if a company like Jessops in 2007 realized they were not doing well, why did they not close some shops in areas where the market just wasn’t there or get rid of expensive equipment such as the mini-labs that did photo processing? Did they really have to have 192 shops?
Total loss: 1370
19000 jobs maybe affected by the bankruptcy.
Source: BBC News
- Gibson Guitars layoffs 50 from its Nashville office. The company has cited a 20% drop in musical instrument sales as the reason for the layoffs. Gibson is well-known for manufacturing fretted instruments like guitars, mandolins and banjos.
- Shoreline plans to cut 35 jobs.
- NewsX layoffs 78 employees.
- 3M cuts 1000 jobs in Q2.
- Delta Dental cuts 30 jobs.
- Informatix Inc cuts 48 jobs.
- Smithfield Foods layoffs 140 in Texas Murphy-Brown facility.
Total losses = 1381
Nikon is to cut about 1000 jobs from its domestic plants. It also plans to downsize its subsidiaries in Sinapore and transfer parts of the business to Taiwan Job cuts are expected to save about 8 billion Yen or 84 million Dollars.
Nikon forecasts a net loss of 17 billion yen ($179 million) the fiscal year through March 2010. It posted a net profit of 28.1 billion yen last business year on sales of 879.7 billion yen.
The Tokyo-based manufacturer best known for its cameras have been hit particularly hard amid falling demand for steppers, a device used to make semiconductors.
Total losses = 1000
The following Pink-Slip List (P-SL) was compiled by Klaus Kneale.
Job Losses = 19247
April 28: On top of 1850 layoffs announced in January, Clear Channel slashes 590 jobs, bringing cuts to 12% of its original workforce total.
April 27: Lockheed Martin dismisses 225 in New York; cites lost business for Presidential Helicopter Program.
April 27: PPG Industries lays off 110 at fiberglass plant in North Carolina.
April 27: CSX fires more than 150 at New York rail yard.
April 27: General Motors increases originally planned cuts to its U.S. hourly workforce by 8000.
April 24: Carrier Corporation a subsidiary of United Technologies cuts 140 hourly workers.
April 23: Embarq closes call center in North Carolina and dismisses 51 workers.
April 22: Philip Morris International closes North Carolina cigarette plant and fires 1100 workers.
April 22: T. Rowe Price Group reduces workforce by 5.5% (288 jobs), hitting all areas of the company except portfolio managers.
April 22: Capital One Financial cuts 60 employees in its credit card division.
April 20: Brown-Forman Corp. pink-slips 250 workers, or 6% of its global workforce.
April 21: Yahoo! reports 78% drop in first-quarter profit and 5% cut in global workforce (roughly 675 employees).
April 20: Nordstrom cuts 72 jobs in Iowa and Washington.
April 18: Weyerhaeuser closes trucking division in Oregon and cuts 75 jobs.
April 15: Emerson Electric subsidiary in Tennessee fires 200 workers at plant that makes industrial generators.
April 14: Discover Financial Services blames credit losses for 4% workforce reduction (500 jobs).
April 14: Deere & Co. combines two units resulting in 200 pink-slips.
April 13: General Electric fires 100 workers at plant in North Carolina on reduced demand for the plant’s products.
April 9: General Electric’s health care arm fires 179 in Wisconsin.
April 9: Johnson & Johnson cuts 900 jobs in its U.S. pharmaceuticals division as competition in drugs pushes prices down.
April 8: Eastman Chemical notifies 300 employees of layoff; 200 of the cuts are in Tennessee, where the company is based.
April 8: Navistar International pink-slips 350 workers at plant in Ontario.
April 8: Deere & Co. fires 160 workers in Iowa factory in latest of ongoing cuts.
April 6: Weakness in solar power forces General Electric to layoff 85 at solar-panel plant in Delaware.
April 6: Procter & Gamble dismisses 90 workers at Puerto Rico plant that makes skin care products and cold medicine.
April 3: FedEx fires 1000 following a 75% drop in third-quarter earnings announced last month.
April 3: Walt Disney Co. cuts 1900 jobs 1200 people and 700 empty positions at its U.S. theme parks.
April 2: Rite Aid closes a distribution center in Georgia and lays off 297 workers.
April 1: 3M slashes global workforce by 1.5% (1200 jobs) following a December cut of 2300 workers.
The Eastman Kodak group is cutting up to 4500 jobs this year after a slump in demand for digital cameras and commercial printing equipment.
Chief Executive Officer, Antonio Perez, said
The second half of 2008 will go down in history as one of the most challenging periods we have seen in decades.
One well known company in the UK affected by this decesion is Jessops. The 230-store chain’s shares tumbled more than 25% after it reported a major restructuring of its £57.4m pound debt. (Oh dear!).
Job losses: 4500