Companies Begin Layoffs Following Oba...

Companies Begin Layoffs Following Obama Re-election

Posted in the Union City Forum

No lie

United States

#1 Nov 10, 2012
With the so-called ‘fiscal cliff’ looming at the end of the year, many companies had warned that if President Obama were re-elected, they would be forced to lay off workers. Company officials listed the skyrocketing price of health insurance and the taxes contained in Obamacare as a primary reason for job cuts.

Some job cuts are also the result of the likelihood that Congress will be increasing taxes thereby raising the cost of doing business. Other staffing cuts are also an attempt to avert the “fiscal cliff” and the economic reality caused by spending cuts and increased taxation in the Obama-favored budgetary tactic known as sequestration.

And three days after the re-election of the President, many big companies have already kept their promise. Among them are:

Energizer, which is restructuring its company, and as a result, announced it expects to lose about 1,500 jobs.
Boeing, who expects to shrink their executive staff by roughly 30% at the Boeing Defense, Space & Security unit.
US Cellular, who is moving manufacturing plants out of Chicago, and as a result will cut roughly 640 jobs in the area. Overall, the company estimates it will cut 980 jobs, about 12% of its workforce.
Power tool giant Husqvarna, who is cutting around 600 jobs, a move that they expect will save them roughly $33 million per year.
Darden Restaurants, which owns popular chains like the Olive Garden, Red Lobster and Longhorn Steakhouse. They are expected to cut back the hours their employees work to 28 hours per week. The Obamacare law defines full time employees as working 30 hours a week. The law requires full time employees to have employe-provided healthcare, or the company must pay a fine.
Murray energy corp will layoff more than 120 employees to avoid expenses due to Obama regulations and taxes
Welch Allen will layoff 275 employees (10% of their workforce) as a “pro-active response” to taxes in Obamacare
Dana Holding Group – auto parts manufacturer will make numerous cuts in response to $24 million in costs due to Obamacare
Stryker will be eliminating 5% of its workforce (1,170 jobs) due to additional taxes in Obamacare
Boston Scientific will be dropping between 1,200 and 1,400 jobs and shifting operations to China to avoid Obamacare taxes
Smith & Nephew will drop 770 jobs
U.S. Cellular will eliminate 980 jobs
UtahAmerican Energy will cut a huge number of jobs as “204 American coal-fired plants” are shut down by 2014 – basically maiming the coal-mining industry
Lockheed Martin is expected to notify 123,000 employees of coming layoffs
Consol Energy to layoff 145 employees
much, much more coming…
These are just a few of the big companies affected. Many other smaller companies are also saying they will have to either cut back employee hours or fire some of their employees. Other companies are closing plants in an attempt to save money.

Target has already announced the closing of several locations, including a store in Kissimmee, Florida. Kmart is another company that has announced its intention to close several stores.

These announcements come on the heels of two very grim days for the stock market. On Wednesday, the Dow Jones Industrial average fell 2.4%, which is the fifth worst single day drop in history. The S&P 500 also fell 2.37%. The markets continued to plummet on Wednesday. The Dow fell another 0.94%. And the S&P fell another 1.22%.

Investors cite concerns over Europe’s struggling economy and President Obama’s re-election. It is believed that Obama does not have a serious plan to regrow the economy or control the United State’s burgeoning debt.
Obama Yo Mama

Middlesboro, KY

#2 Nov 10, 2012
Look at Europe that is what is happening to us.
Jeff

United States

#3 Nov 11, 2012
This is the short list. There is actually a longer one. Dang.
anon

Stanton, TN

#4 Nov 11, 2012
You can't blame Obama for this. Basically, companies are pissed because they don't get the massive tax break they were expecting.. so, if anything, you should be directing your anger toward the companies.
Jeff

United States

#5 Nov 11, 2012
anon wrote:
You can't blame Obama for this. Basically, companies are pissed because they don't get the massive tax break they were expecting.. so, if anything, you should be directing your anger toward the companies.
What anger? I'm retired and don't give a crap. Lol. It's the young punks and middle class that voted the nut back in that will have to deal with this Laugh.
know ur facts

United States

#6 Nov 12, 2012
anon wrote:
You can't blame Obama for this. Basically, companies are pissed because they don't get the massive tax break they were expecting.. so, if anything, you should be directing your anger toward the companies.
fox news said this would happen. you May not like to hear what they say but they speak the truth. and yes its mainly because of Obama care which is Obamas fault. employers will cut hours to part time. then if u don't have insurance you will pay the penalty. bet these ppl that just assumed they would get FREE health care feel like dumb a**es. should have watched Fox news instead of MSNBC.
anon

Stanton, TN

#7 Nov 12, 2012
fox news? you get your info from fox news?

hahahahahahahahahahahahahahaha haahahahahahahahahahahahahahah ahahahahahahahahahahahahahahaa hahahahahahahahahahahahahahaha hahahahahahahahaha...

yeah, sorry about that. we all know how reliable fox news is. now, go back to listening to rush limbaugh and leave real politics to the adults..
know ur facts

United States

#8 Nov 12, 2012
anon wrote:
fox news? you get your info from fox news?
hahahahahahahahahahahahahahaha haahahahahahahahahahahahahahah ahahahahahahahahahahahahahahaa hahahahahahahahahahahahahahaha hahahahahahahahaha...
yeah, sorry about that. we all know how reliable fox news is. now, go back to listening to rush limbaugh and leave real politics to the adults..
like I said you might have been able to see into The destruction of Obama policies had you watched. Does the truth bother you that much? or is it because they do not cater to Obama? You should actually tune in sometime so that u know what's going on.
get ready

Tucker, GA

#9 Nov 12, 2012
Isn't capitalism sweet . Obama wins, they get mad and instead of taking a hit like everyone else they will cut thousands of jobs to keep rolling in their billions and move to China,how patriotic .
know ur facts

United States

#10 Nov 12, 2012
get ready wrote:
Isn't capitalism sweet . Obama wins, they get mad and instead of taking a hit like everyone else they will cut thousands of jobs to keep rolling in their billions and move to China,how patriotic .
and thepresidemt should have foreseen what his actions would do
funny

Medina, TN

#11 Nov 12, 2012
anon wrote:
fox news? you get your info from fox news?
hahahahahahahahahahahahahahaha haahahahahahahahahahahahahahah ahahahahahahahahahahahahahahaa hahahahahahahahahahahahahahaha hahahahahahahahaha...
yeah, sorry about that. we all know how reliable fox news is. now, go back to listening to rush limbaugh and leave real politics to the adults..
Are we getting a little unhinged about the truth? You should have paid attention honey. Now you are gonna get just what you wanted. Here comes the whining and crying. lol
Eddieee

Centertown, KY

#12 Nov 12, 2012
Dont worry I will bring big time jobs to Fulton Co. you will all have to go to work.
Hostess

United States

#13 Nov 16, 2012
Another one bites the dust.
RESIDENT

United States

#14 Nov 17, 2012
It's just a bunch of sore loser bullshit. A business is socialized from the get go, with grants, subsudies, tax deductions, they lie , the don't do things on thier own, without gov't help.
retro

United States

#15 Nov 17, 2012
Four more years!

There will be NO jobs left by the time BO is through with America.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Union City Discussions

Title Updated Last By Comments
Verbal abuse in relationship 1 hr Notabusednow 13
Corey and Beth Walker 5 hr Observer 10
Interest rates extreme at finance places 8 hr whiner 3
News Hodges claims Miss Tennessee Soybean Festival t... 20 hr Fact 2
amber thomas 20 hr nosy 1
Early Thu No good hippie be... 21
Huddle House Thu anonymous 7

Union City Jobs

More from around the web

Personal Finance

Union City Mortgages