City governments, Caterpillar slash jobs
Michael Bloomberg
As promised, your source for a quick payday loan brings you some high-profile job cuts announced today.
The third-most populated state in the country has hit quite the rough patch. Wednesday New York Schools Chancellor Joel Klein announced that if the governor’s current budget passes, the state might need to lay off 15,000 educators.
Apparently those educators will come from Staten Island. The City of Staten Island today announced that under Mayor Michael Bloomberg’s proposed budget they may have to cut as many as 23,000 city employees. That figure includes the 15,000 teacher jobs. It gets worse. This number is in addition to the 7 percent that Bloomberg already ordered agencies to cut from spending.
California losing its cool
Governor Arnold Schwarzenegger on Thursday said California was in a stage of emergency. Check out the details in this article from your quick payday loan source. Friday the City of Sacramento announced it may need to cut 500 city jobs (See Article: http://www.sacbee.com/ourregion/story/1585142.html?mi_rss=Our%2520Region) to close its deficit. It currently faces a $50 million deficit.
Granted, surrounded by the astronomical numbers of workers that are being laid off from other institutions, 500 might seem like small potatoes. But I have a feeling this is only the first in a long string of announcements we will see about government layoffs in California. Also, with a $50 million deficit, I have a feeling we’ll be hearing more out of Sacramento.
Caterpillar job cuts crawling higher
On top of the massive job cuts Caterpillar has announced, the company said Friday it will lay off an additional 2,100 production workers. That brings the company’s total job losses to about 22,000.
Caterpillar is the world’s largest manufacturer of construction and mining equipment. Reuters reports that “worldwide economic weakness (is) gutting orders for it earth-moving equipment.” Workers in three plants in Illinois will be affected by the new cuts.
More on Monday
Layoffs generally don’t happen over the weekend, but these days, who knows? I’ll be back at your quick payday loan source Monday to share new reports about big companies making big job cuts.
This is not good. The news about Caterpillar laying off workers is not too surprising, because things related to real estate, such as construction, are amongst the first things to go in a recession, but NYC teachers…wow.
23,000 employees! Wow! That’s going to be catastrophic for the people of New York. And for California… well I kind of have an idea of what the next scene will be.