Skip to comments.2014 July Job Cut Report: 46,887 Job Cuts Announced Boosted by Microsoft
Posted on 07/31/2014 4:40:54 AM PDT by PerdoggEdited on 07/31/2014 4:43:22 AM PDT by Admin Moderator. [history]
The unexpectedly large layoffs announced by Microsoft helped push July job cuts to the second highest level of the year. In all, U.S.-based employers reported plans to reduce payrolls by 46,887 during the month, according to the report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.
And Microsoft cut these positions because of the wesather right? Not because of the jug-eared Marxist a-hole and his Demonic Party’s economic policies. Or was it climate change...?
Okay - does anyone know what jobs Microsoft cut...
I just completed a years worth of training in computer hacking and just IT Security...and still have to finish Linux penetration later on before the end of the year...plus test for my CHFI cert...
Are those jobs being cut? I had to do this because the whole national intelligence platform took a heavy hit from Obama - and I wanted to stay in a realm that I already understood...
Geez...maybe I should move to CO and start growing weed!
MSFT cut primarily Nokia jobs: http://money.cnn.com/2014/07/17/technology/enterprise/microsoft-job-cuts/
Of the 18,000 jobs, 12,500 will be from Nokia.
They are cutting the high-wage US workers while crying that they can’t find any skilled people and demanding more H1B visa “guest” workers (at a third of the cost) to fill the slots. Oh yeah, they make the fired workers train their replacements, which may include lessons in english as a 2nd language...
Mission Hospital in Asheville, NC, the city’s largest employer:
Jobs at risk as Mission eyes deep budget cuts
ASHEVILLE Mission Health System will cut costs by $42 million next year under a reorganization plan that could mean layoffs.
It plans to grow revenue by $10 million during the same fiscal year, which starts Oct. 1.
The not-for-profit company Western North Carolinas largest employer with 10,600 workers has yet to determine how many jobs might be lost.
Mission Health predicts a $500 million decrease in payments over the next decade as more people get medical care outside of hospitals and reimbursements from Medicare and Medicaid decline. Seventy-five percent of Missions patients are covered by Medicare and Medicaid.
Included in that amount is $228 million the company says it will lose under the Affordable Care Act, also known as Obamacare.
A majority of the cuts are from Microsoft’s recent acquisition of Nokia. This is SOP for acquisitions.
Wait....can’t be. Bammy’s commerce dept just said the GDP was up 4%. At least that’s before the revision to come.
Analysis from Stone-McCarthy:
—Excluding 18,000 from Microsoft, Little Changed Month-Over-Month
— Stone & McCarthy (Princeton) —
Job cut announcements in July jumped 49.2% to 46,887 from the 31,434 in June. Compared to the 37,701 in the year-ago month, intentions were up 24.4%. When we calculate the three-month moving average, the level is 43,761. However, the bulk of the sharp rise in July can be attributed to the announcement by Microsoft that it would lay off up to 18,000. If we exclude that number, the July total is 28,887, very little changed from the prior month.
The underlying trend for the level of layoffs appears to be around the 40,000 a month, a fairly low level by historical standards. One-month jumps from large layoffs are not uncommon, and the computer industry is the leader for 2014 to-date at a total of 48,361 vs 21,517 for the first seven months of 2013. The Microsoft layoff and another large cut by Hewlitt-Packard earlier this year have accounted for much of this and reflects industry restructuring rather than any broader weakness for the labor market.
In July, the largest share of layoff intentions were in computer (18,359) and accounted for about 40% of the total. Government layoff intentions (5,111) were the next largest contribution and accounted for about 11% of all layoffs announced. The government number typically rises in July with furloughs for education workers during the summer months.
The reasons given for layoff intentions in July were mainly related to restructuring (25,735) and accounted for nearly 55% of all intentions. The next largest category for reasons was in closing (7,806) and sequestration (6,001).
Layoff intentions related to federal fiscal matters have tapered off since the sequester was imposed in March 2013, but can still show up as longer-term contracts expire.
Hiring intentions in July totaled 16,544. The largest numbers were in automotive (4,964) or about 30% of the total. Announced hiring intentions were smaller, but still significant for healthcare (1,925), computer (1,909), and transportation (1,442). All of these categories are generally associated with jobs that provide higher wages and benefits.
Note: in June 2011, Challenger announced it would report layoff announcements in the government/nonprofit category separately. It did not provide an historical breakdown of the two. SMRA will continue to aggregate the two for the purpose of comparison.
Actually, it wasn't unexpected at all. This was a predictable downsizing of redundant staff after the Nokia deal.
No, they’re hiring short term software engineers from India.