If You Work Here, Quit Before You Are Fired: The 20 Largest US Layoff Announcements Of 2015

Tyler Durden's picture

Earlier today, in the latest laughable attempt to boost confidence in a clearly recessionary economy, the BLS reported that a paltry 277,000 Americans had sought unemployment benefits. Why laughable? Because at the very same time, Challenger Gray which actually tracks layoff notices and announcements, released its own data which starkly contradicted the US department of labor.

As a reminder, what Challenger found was that the third quarter ended with a surge in job cuts, as U.S.-based employers announced plans to shed 58,877 in September, a 43 percent increase from the previous month.

Worse, while one wouldn't know it by looking at Dept of Labor data, some 205,759 job cuts were announced in the third quarter, making it the largest job-cut quarter since the third quarter of 2009, when planned layoffs totaled 240,233.

So according to one data set people are filing for unemployment insurance near the lowest pace in history, according to the other, in the just concluded quarter, we just witnessed the most terminations in 6 years.

Judging by the economy's latest trajectory...

... we think we know who is telling the truth, and who is desperate to avoid the reality of the wreckovery.

So for those eager to push aside the endless government propaganda and concerned about the rapidly deteriorating economy, here is a list of the Top 20 biggest private-sector job cut announcements of 2015.

We previously profiled the top one, that of Hewlett Packard, as dictated entirely by rising stock-buyback considerations. The same can be said about many of the other corporations, where as long as shareholders continue placing their own immediate interests over the long-term interests of the underlying business viability, none of these companies are safe to work for.

Our advice: for anyone who is still employed at any of the following corporations, if you can find a job elsewhere (because the "recovery" and all), do it before you too become a seasonally-adjusted pink-slip.

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The Pope's picture

Just QUIT! - lol

DOT's picture

The best advice ever.

The Pope's picture

Here's my addendum, before you locked my post.

 

Just QUIT! - lol (& know that you are truly BLESSED, each & every day, with the opportunity to do so in an anonymous fashion, & without recourse, by virtue of the gentile provocations of the Tylers).

 

Rock on bitchez!

nuubee's picture

Shouldn't Radio Shack be on the top of that list? I'm surprised it even exists anymore. It would have to completely re-vamp itself from consumer electronics boutique into a hackerspace outlet to have a chance at survival, and I don't see that happening.

Dr. Venkman's picture

Radioshack Ch 11 liquidation plan confirmation order to be entered first thing tomorrow morning likely.

seriously. nothing but the crying and the slow transformation into Sprint stores left.

https://cases.primeclerk.com/radioShack/Home-DocketInfo

espirit's picture

There goes the neighborhood.

Pure Evil's picture

Well, they got one thing going for them.

They're not training their H-1B replacement before the doorknob hits them in the ass on the way out.

Stuck on Zero's picture

First, these are layoffs, not firings.

Second, always wait to be laid off because you can collect unemployment for years.

AGuy's picture

"Second, always wait to be laid off because you can collect unemployment for years."

And Severence Package.

thecondor's picture

yep. That's what my wife did at bridgestone. Rode it to the very last day which was yesterday. Six months severance. But since they botched so much shit up with their ''shared services'' they have to keep her around as a contractor. It's laughable. 

Richard Chesler's picture

Poorly researched list.

There'll be hundreds more in between those ranks by the time OBOZOFUCKINGCARE is fully implemeted.

Thieving jews strike again!

 

Dubaibanker's picture

#‎demanddestruction

Put another way, henceforth, we should not discuss who is firing, we should only ask: IS THERE ANY COMPANY THAT IS NOT FIRING? (because the list of companies that are firing is getting too long).

In addition to the cuts mentioned in the post, just in the last 2 weeks, the following thousands of job cuts have occurred worldwide leading to more demand destruction, permanent factory closures and reduction in imports as well as global trade leading to lowest shipping costs in decades among various other changes to our society like #‎deglobalization due to lack of business on a permanent scale and lack of growth opportunities for all youngsters worldwide. 

More factories will continue to shut down worldwide as demand for almost every item in the world continues to shrink and losses as well as unrest continues to rise (regardless of any impact or improvement due to interest rate hikes or reductions or any impact whatsoever of currency depreciation).

This is one of the major contributing factors of the decline in global stock markets in every major country in the world since Jan 2015 aside from the influence of oil price decline and decline in sales revenues in almost every single sector worldwide. 

http://gulfnews.com/…/standard-chartered-middle-east-banker…

http://indiatoday.intoday.in/…/vedanta-group-…/1/481805.html

http://www.bloomberg.com/…/rbs-said-to-hire-credit-traders-…

http://asia.nikkei.com/…/Japanese-maritime-shipper-Daiichi-…

http://www.koco.com/…/sources-layoffs-happening-at…/35554482

http://www.cbc.ca/…/cenovus-energy-cuts-jobs-layoffs-1.3244…

In addition to the job cuts already done, hundreds of thousands of job cuts are expected in a variety of sectors around the world in the weeks/months ahead that have already been announced.

http://www.reuters.com/…/societe-generale-branches-idUSL5N1…

http://www.chinaeconomicreview.com/state-owned-coal-mining-…

http://www.wsj.com/…/bank-of-america-to-lay-off-more-than-1…

http://af.reuters.com/a…/investingNews/idAFKCN0RS1KS20150928

http://www.theaustralian.com.au/…/story-e6frg9df-1227548027…

http://www.cnbc.com/…/groupon-to-cut-about-1100-jobs-worldw…

http://www.reuters.com/…/us-sahaviriya-steel-bankruptcy-idU…

http://www.bbc.com/news/business-34350057

http://www.bbc.com/news/business-34380497

http://www.opb.org/…/npr-rapid-response-teams-organized-fo…/

Deustche Bank is set to announce a major restructuring in Oct 2015 and announce lay off of as much as 23,000 staff in the years ahead. 

http://www.ibtimes.co.uk/deutsche-bank-axe-23000-jobs-john-…

Unicredit Bank from Italy will lay off more than 10,000 in the months ahead.

http://www.reuters.com/…/us-unicredit-redundancies-idUSKCN0…

And, we have not yet talked about the impact of oil price decline and the bankruptcies worldwide due to the same!

Thousands of more global job cuts are here:

Chesapeake Energy Plans to Cut 15% of Jobs

http://www.bizjournals.com/boston/blog/techflash/2015/09/what-you-should...

http://wina.com/news/064460-064460-064460-064460-064460-2-2-another-ship...

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/...

http://www.stuff.co.nz/business/farming/agribusiness/72244467/fonterra-c...

http://www.upstreamonline.com/live/1411839/abb-in-job-cuts

http://www.zacks.com/stock/news/190798/deutsche-bank-to-shut-onshore-inv...

https://www.mirantis.com/blog/hp-enterprise-hit-hardest-pre-split-layoff...

http://www.idahostatesman.com/2015/09/22/4000107/aecom-announces-at-leas...

http://www.bizjournals.com/washington/blog/fedbiz_daily/2015/09/bae-syst...

http://www.duluthnewstribune.com/business/3846683-more-layoffs-planned-k...

http://seekingalpha.com/article/3531306-halliburton-internal-memo-and-so...

http://www.kcci.com/news/new-job-cuts-just-announcement-300-iowa-workers...

http://www.cinewsnow.com/news/local/CAT-WORKERS-FACING-LAYOFFS-HAVE-SAVI...

http://www.bloomberg.com/news/articles/2015-09-29/glencore-collapse-drag...

http://www.fox23.com/news/news/local/layoffs-reported-chesapeake-energy/...

http://www.bloomberg.com/news/articles/2015-10-01/amd-to-cut-5-of-global...

http://www.bloomberg.com/news/articles/2015-10-01/conagra-will-cut-1-500...

http://www.bloomberg.com/news/articles/2015-09-30/glencore-cuts-further-...

http://www.reuters.com/article/2015/10/01/us-wal-mart-layoffs-idUSKCN0RV...

http://www.wsj.com/articles/sprint-expected-to-cut-jobs-up-to-2-5-billio...

http://www.thestarphoenix.com/business/more+cuts+transcanada/11389684/st...

http://www.heraldcourier.com/workittricities/business_wire/spain-s-repso...

TemporarySecurity's picture

Not true for the oil field companies, most are in states that only get 6 months.

TemporarySecurity's picture

Not true for the oil field companies, most are in states that only get 6 months.

techpreist's picture

Funny you mention that PE. When I left my current job (saw the writing on the wall, and landed a better position in a less FUBAR organization a couple months later), they had just hired a guy in India, and there was no mention of whether they were looking for my replacement in my local office.

On the one hand I feel bad for my colleagues, but on the other hand, when the company lays of 75% of HR, half of sales, and isn't replacing anyone who quits in marketing (unless it's an addition to the India team), you should know it's time to get your resume current.

Colonel Klink's picture

Whole list reads like a who's who of douchebag corporations.  I'm surprised GE isn't in there.

MontgomeryScott's picture

" I'm surprised GE isn't in there."

 

OF COURSE NOT. Their corporate masters at TEPCO wouldn't allow this.

 

roddy6667's picture

Where will I buy the tubes to build my short wave radio?

migra's picture

If you quit you don't get unemployment. Who ever said to quit first is a fucking idiot.

Chain Gun Smoke's picture

Radio Shack would have to train their employees for that. At this point they only have experience hiring monkeys to sling cell phones.

MontgomeryScott's picture

O.K, since you've been here 4 days 10 hours, I'll fill you in.

Once you post, and try to go back, IF someone has responded to it, you aren't allowed to edit it anymore.

It's NOT 'locking' per se. It's the way things ARE.

CAPISH, POPO?

Oldballplayer's picture

You are not supposed to talk about. No one took me by the hand and showed me around......

MontgomeryScott's picture

Sorry.

My 'bad'.

It took me close to a month to figure this out, way back 'when'. I was trying to help out a (possible) asset to the ZH fight-club (no one told ME about this, either, you know).

Dude wants to 'just quit'.

NO, he wants YOU and ME to 'just quit', and he whines and pules and bitches because he can't edit the posting (children are WHINERS, mostly). 'TYLERS are BLOCKING his INFANTILE POSTS, and he's gonna throw a TANTRUM!'

I'm sorry I wasn't there at the time to offer you the options as I have learned them out here in 'the Great Redoubt'. I have been too busy learning them to pay attention to others such as yourself, over here in Tyler Durden's domain. (PPHHH!) (Snorting my beer and stacking PHYZ) PLEASE don't be all 'butt-hurt' at me (PPHHH! The beer I just snorted is spraying out all over the keyboard, and you owe me a new one!).

(AHEM)

Mr., ....SCOTT...

 

RockySpears's picture

"The pope" doesn't seem to be a good guy.

Last I saw, he made a long time ZHer leave. 

See last 

"Miffed Microbiologist" post.

 

Not that I mind banter and even ridicule when deserved.  But vitriol is not good.

Bobbyrib's picture

Locking your post would allow the people trampling our Constitutional guaranteed freedoms the opportunity to record your post without having to go back for the information that would still exist (just not in your post) if you deleted anything. You can save TPTB time. Just saying..

Gilnut's picture

I'm not quitting.  I'm milking this shit for all it's worth.  I work IT for a major bank so I'll be on the "short list" for termination, but I'm as ready as I can be :)  Until then I'm getting my shit in order.   The fukin' hilarious thing is that my mortgage is with the bank I work for, so if they lay me off, they lose money.  HAHAHAHAHAH!!!! Fuk 'em all.

Vlad the Inhaler's picture

The taxpayer owns your mortgage :(

cro_maat's picture

When the dust settles on all of these ponzi schemes the banks and the FED will own a lot of RE. The taxpayer will get nothing.

If you really want to dive down the rabbit hole, google CEDE, Inc. and ask your RE agent whether your Certificate of Title is really a true title to the land (hint: it is not which is why a municipality or State can steal your land if you don't pay taxes.

A Nanny Moose's picture

Buying real assets with fake money issued by frausters, based on the productivity other people's children. Blowing up those who express reservations at the legitimaized fraud.

The only rhyme of history one needs to know.

MontgomeryScott's picture

MERS (Mortgage Electronic Registration Systems).

SHOW ME THE TITLE!

OOPS...

HardlyZero's picture

Besides the joke MERS, title is a huge deal in old-world countires.

In Spain and Cyprus there are sometimes 4 on the same lot/title to be worked out.

You never know.

 

Of course this all assumes 20 years from now there will be provided utilites, fresh water, sewer, etc.

If thing go out the window...then we are all going to be off-grid by force.

Gilnut's picture

Only if it's owned by Fannie or Freddie, which I stated was not the case.  If CONgress flips the bill to the taxpayers, that's not my problem.  Doubly, since I'll be unemployed for the first time in my life and ready to take care of myself.

Winston Smith 2009's picture

"If You Work Here, Quit Before You Are Fired"

"The best advice ever."

More like stupid advice considering you won't get unemployment benefits if you quit, but would if you wait until you're actually laid off.

Sockeye's picture

Fired is better. Because severance.

nmewn's picture

I believe it was Toys-R-Us that had an Indian taking notes and hovering over the soon to be departed...in order to get their severance packages.

Just gets ya all Christmasy doesn't it? ;-)

espirit's picture

Wally World is already there.

What happened to Halloween and Thanksgiving?

Retail is gonna suck wind this year (again).

StupidEarthlings's picture

Haliburton? ... shit..we can fix this. 

 

 

Jeffersonian Liberal's picture

No, let them lay you off so that you get the unemployment insurance you've been paying for and that you deserve. They take it from your paycheck. They don't give you the choice. There's nothing wrong with using that insurance.

stormsailor's picture

excuse me,  excuse me.   it is not taken from the employee's check.  it is paid for by the business. and it was a state construct and was a percentage of your payroll multiplied by your multiplier.  the more layoff's you have the higher your multiplier.  i own a small business and my multiplier was 0 for years, but 2 years ago they changed it to a minimum of .13.  also now there is a federal unemployment insurance, same deal.

 

it is a business cost and not paid for by employee's except perhaps indirectly, and of course yet another set of feckless forms and monies to be tracked by the business for federal and state.

 

so fuck you business, especially small business,  get out that calculator, fill out those forms. have them in by x date along with a check

techpreist's picture

Look at it this way:

I have $50,000 to spend on an employee. If the government requires me to pay $10,000 in various taxes and mandatory insurance on that employee, then the most I can agree to is $40,000. If those taxes didn't exist, I could offer up to $50,000.

In that sense, it is coming out of the employee's check, because that's money I could have paid him. I also own a small business and employ a contractor; I think at minimum we can agree that if the average employee had to deal with the same taxes and paperwork we do, there would be a tax revolt tomorrow.

new game's picture

u do the paperwork and my check is smaller. nobody revolting. plus we all happily s/ pay our shortfall by april 15th. wtf is wrong with these idiots? oh, backed by force, ha, scared of being cuffed, yup...

ok, i too had  s-corp. paid q's, and transferred thru the cash and avoided fica. yup, bout the only good it was.

just try to starve the beast(legaly) til it just doesn't matter. we may be there as the irs can only do so much to enforce 40,000 pages of conflicting law.

what a fcuking joke...

LawsofPhysics's picture

All heading to the SNAP side of the ledger, which requires higher taxes, but less people are working...

see the problem yet?

thin the motherfucking herd already!!!

 

OR

 

Prosecute the fucking fraud and clear the motherfucking DEBT!!!

CheapBastard's picture

No one knows for sure how much of that is embezzled, but in 2012 Donald Berwick, a former head of the Centres for Medicare and Medicaid Services (CMS), and Andrew Hackbarth of the RAND Corporation, estimated that fraud (and the extra rules and inspections required to fight it) added as much as $98 billion, or roughly 10%, to annual Medicare and Medicaid spending—and up to $272 billion across the entire health system.

 

http://www.economist.com/news/united-states/21603078-why-thieves-love-am...

 

Another example of an inept DOJ.

 

 

Pure Evil's picture

Is this why .gov is placing ads on the Boob Tube asking all to report Medicare/Medicaid fraud?

Now that the program is in the crapper they want us start reporting fraud?

cynicalskeptic's picture

Get your free Rascal scooter, knee brace and diabetic supplies while you can......  

C'mon - when they're advertising all this 'FREE!' stuff on TV for seniors yiou KNOW something smells - and that all is LEGAL.   Look at how much gov pays for rental of a wheelchair  (10 X more than it costs to BUY).   Medicare/Medicaid is a license to milk gov for money

techpreist's picture

Medicare/Medicaid is a license to milk working people and productive business owners for money

Fixed.

new game's picture

math says loud and clear - insolvency, then wtf?

GeezerGeek's picture

The Government is a license to milk working people and productive business owners for money. FIFY.

Ever read "The Law" by Bastiat? He addresses the issue, calling it plunder. Recommended reading for everyone. Indeed, everyone elected or appointed to office, at any level, should be forced to read it at least once a week.