This information is intended for business analysts, corporate strategists, marketers, salespeople, investment analysts, financial advisers, and others who are interested in companies that are contracting. The information can be valuable to job seekers also, to understand companies that are probably not in growth mode.
Retail topped the list this week as Movie Gallery/Hollywood Video announced it was going out of business affecting all 19,100 US employees nationally. Government was next as 23 local governmental units and school districts announced layoffs this week affecting thousands of workers, led by The City of New York’s announcement of 12,000 job cuts and Atlanta Public Schools’ announced 1,500 layoffs. We continue to see more of this as we approach the end of the school year as well as government fiscal years – Governments and school boards have to finalize budgets for next year and are announcing related layoffs.
HA Management announced 500 publishing industry layoffs that will take place in Honolulu. Banking also cut positions with BB&T;/Colonial Bank disclosing 500 layoffs in Montgomery AL. Energy company Ameren is releasing 275 workers throughout Illinois and Missouri.
Inclusion on this listing doesn’t mean the entire industry is down, as some from the same sectors appeared on the “Who’s Hiring” article published 5/3/10.
Job seekers: You might want to look in greener pastures than these companies.
Organizations announcing layoffs for the week ended 5/7/10:
- Movie Gallery Inc., Various US (19,100)
- City of New York NY (12,000)
- Atlanta GA Public Schools (1,500)
- Broward School District, Ft Lauderdale FL (< 1,000)
- HA Management Inc. Honolulu HI (500)
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