dooms du jour, February/2001
[Commentary] ©2001 Phil Hyde, The Timesizing Wire, Box 117, Harvard Sq, Cambridge MA 02238 USA (617) 623-8080

2/28/2001 wed
6 more takeovers reported, worth $7.57B + $$undisclosed
+ 3 downsizings reported in NYT & BG totaling 3420 lost Canada jobs + unspecified US:
• 10% staff cut (3000 jobs lost) as JDS Uniphase gets hysterical about slowing demand &
growing competition, instead of just doing 10% hours&pay cut (4 hrs/wk for everyone
incl. top execs) & keeping everyone employed, earning & shopping 90% as much as usual
• 450 jobcuts at Quebecor's Videotron Telecom unit 
• unspecified cuts as Cadmus closes Atlanta facility
vs. glimmers of intelligence:
• 1 UNtakeover - employee-led buyout of Align360
• utilities commission mulls layoff ban on Calif's big utilities
• Australian MIT lures IT instructors with 30-hour workweek

2/27/2001 tue
6 takeovers reported, worth $520m + $undisclosed
+ 7 downsizings reported in NYT & BG, totaling 11,828 lost jobs + undetermined:
• 10% workforce cut (3800 US jobs lost) at SCI Systems, instead of having a
10% workweek cut (to 36 hrs/wk for everyone including top execs), & keeping
everyone employed, earning & spending at 90% as much as usual
• 3500 more global cuts at Mitsubishi  • 2213 early retirements at Mazda 
• 1200 jobcuts at Mitsubishi  • 1100 US cuts at Federal-Mogul 
• 15 Mass. cuts at Revenio  • undetermined cuts at McKesson HBOC
vs. beams of intelligence:
• more on Texas Instrument's avoidance of downsizing

2/25-26/2001
weekend roundup per the NY Times and the Boston Globe:
• 15 downsizings reported, costing over 11,256 lost jobs
• 19 takeovers reported this week, worth $25.19B + $??
• 2 prison stories
vs. 7 TIMEsizings + 0 UPsizings (0+ new jobs) + 1 UNtakeover reported ($?)
< YTD: 223 dnsz (285026 jobcuts) +228 takov($169B) +60 bkrp vs. 42 timsz +18 upsz (24708=9%) +15 untak ($4B)>
4 weekend takeovers reported, totalling $365m
vs. weekend glimmers of intelligence:
• Times columnist does some real straight talking about Clinton
• Maine's Clean Elections Act is getting a few real people into politics

2/24/2001 sat (re fri biz)
3 takeovers reported, worth $4.6B + $undisclosed
+ 1 downsizing reported in NYT & BG, totaling 350 lost US jobs:
• 23% workforce cut (350 US jobs lost) as Kozmo.com cuts costs (& markets), instead
of doing 23% workweek cut (to five 6hr,10min days for everyone including top execs),
& keeping same number employed, earning & shopping online 77% as much as usual
vs. beams of intelligence:
• Bloomberg News gives France's shorter workweek
credit for job creation in 4th paragraph instead of 10th or lower
• state prison guards in Brazil want more prison guards and shorter working hours

2/23/2001 fri
- America, the treadmill of 'progress' -
6 takeovers reported, worth $9.58B + $undisclosed
+ 5 downsizings reported in NYT & BG, totaling 8533 lost jobs:
• 10% workforce cut (6000 Japanese jobs lost) as Mitsubishi Motors trims models &
closes plant, instead of just 10% workweek cut (48 mins/day for everyone including top
execs), & keeping everyone employed, earning & buying 90% as many cars as usual
• 1470 Aussie jobcuts at Quantas  • 950 global jobcuts at Polaroid 
• 80 RI cuts at GTech  • 33 CT cuts at Andersen Group
vs. glimmers of hope:
• 1 UNtakeover - Bristol-Myers spins off Zimmer orthopedics
• 3 articles, 4 cases of TIMEsizing - Texas Instruments
- DaimlerChrysler, Dayton Thermal Products, & in France, Société Générale

2/22/2001 thu
- As 'down-under' Dame Edna Everage says, "One of the advantages of a democracy is that you can have a slave class with a clear conscience." BG, D3 -
2 takeovers reported, worth $439m
+ 6 downsizings reported in NYT & BG, totaling 1383 lost jobs:
• 414 NY jobcuts at state prison system 
• 350 Massachusetts jobcuts at Verizon Wireless 
• 300 US cuts at Motorola  • 200 Colombian cuts at Gillette 
• 17% workforce cut (69 Calif. jobs lost) as Industry Standard magazine cuts costs
(& markets), instead of just having 17% workweek cut (to five 6h38m-days
for everyone including top execs), & keeping everyone employed,
earning & spending 83% as much as usual, & buying magazines
• 50 Minn. cuts at Micro Component Technology
+ 1 prison story: • clueless "commanding officers" at Sing Sing have low-paid sleep-
deprived guards living in trailers outside prison walls = disaster waiting to happen
vs. glimmers of timesizing:
• Tyco & GM cut workweeks instead of cutting jobs 

2/21/2001 wed
4 takeovers reported, worth $1.32B + $undisclosed
+ 3 downsizings reported in NYT & BG, totaling 990 lost N. American jobs:
• 800 Mexican jobcuts at Massachusetts-based SLI lamps & fiber-optics lighting
• 13% workforce cut (130 US & Canada jobs lost) as Imax film projection over-reacts to
contraction in theater chains, instead of just having 13% workweek cut (to five 7hr-days
for everyone including top execs), & keeping everyone employed, earning
& spending 87% as much as usual, & going out to the movies
• 60 Boston cuts at PrimeStreet lender-borrower matchers
+ 1 prison story: • record ## of black youths in prison leaves record ## of black
mothers wondering what they did wrong & awaiting collect calls from their inmate sons
+ omens: • welfare reform's big flaw - sink/or/swim 2-yr cutoff should be replaced by
higher frequency of smaller payments & rise in support/supervision/training
vs. glimmers of intelligence:
• Intel avoids layoffs  • 2 readers question op-ed's warm & fuzzy immigration contradictions
• 1 TIMEsizing mention - avg workweek falls as Canadian manufacturers trim hours, not jobs

2/20/2001 tue
- US self-mutilation pauses for Presidents' Day -
no downsizings reported in NYT & BG
but 3 layoff-inducing takeovers reported, worth $9.06B
+ omens: • both Dems & Repubs ruin country with 'war' thinking for every problem
- now it's fraudulent medical billing
vs. glimmers of hope:
• $$ & non¢¢ hammers layoffs with pig story

2/18-19/2001
weekend roundup per the NY Times and the Boston Globe:
• 17 downsizings reported, costing over 22,295 lost jobs
• 39 takeovers reported this week, worth $34.78B + $??
• 4 bankruptcy/failure mentions
vs. 6 TIMEsizings + 4 UPsizings (4,010+ new jobs) + 5 UNtakeovers reported ($??)
< YTD: 208 dnsz (273770 jobcuts) +209 takov($144B) +60 bkrp vs. 35 timsz +18 upsz (24708=9%) +14 untak ($4B)>
1 weekend takeover reported, worth $192m
vs. weekend glimmer of hope:
• ditsy dot-coms being held to 'old-economy' standards of respect for employees

2/17/2001 sat (re fri news)
5 takeovers reported, worth $1.07B + $$undisclosed
+ yet 4 more downsizings reported in NYT & BG, totaling 2500 lost jobs:
• 11% workforce cut (1000 S. Korean jobs lost) as Daewoo autos giftwraps
(or mummywraps?) itself for buyer, instead of doing an 11% workweek cut
(to five 7hr7min days for everyone including top execs), & keeping everyone
employed, earning 89% as much as usual, & buying 89% as many cars as usual
• 400 more US & Canada jobcuts at Volvo trucks  • 350 US cuts at Corning fiber optics 
• unspecified US cuts at Covad hi-speed ISP
vs. glimmers of intelligence:
• 1 UNtakeover - Cabletron spun off Riverstone Networks
• reader pushes for binding public referendums to secure term limits
• 3 mentions of TIMEsizing in France compared - 2 Bloomberg & 1 Reuters

2/16/2001 fri
8 takeovers reported, worth $18.36B + $$undisclosed
+ 4 more downsizings reported in NYT & BG, totaling 8730 lost jobs:
• 6000 more Toronto-area jobcuts at Nortel  • 1700 UK cuts at Sun Life
• 3.7% workforce cut (1000 US jobs lost) as Alltel reduces expenses (&
markets), instead of having a 3.7% workweek cut (18 minutes a day
for everyone including top execs), & keeping everyone employed,
earning, & making 96.7% as many long-distance calls as usual
• 30 Boston cuts at Hill Holiday ad agency
+ 2 bankruptcies mentioned:
• Loews • Bridge Info
vs. glimmers of intelligence:
• 2 UPsizings - Wilson Sonsini Goodrich & Rosati spreads from Valley to Alley, creates 10 jobs
- MIT Media Lab spreads New England-Ireland-India
• 1 TIMEsizing report - Bloomberg News notes hours cuts
along with stockpile cuts near top of cheerleading story on Phila. Fed

2/15/2001 thu
7 takeovers reported, worth $1.26B + $$undisclosed
+ 4 downsizings reported in NYT & BG, totaling 7800 lost jobs worldwide + unspecified:
• 7% workforce cut (7200 US jobs lost) as Goodyear gives itself a declining markets
problem in the process of trying to respond to higher oil prices & a lower euro, instead of
just trimming their workweek 7% (34 minutes a day for everyone including top execs), &
keeping everyone employed - earning, spending & buying 93% as many tires as usual
• 455 Ma. jobcuts (15%) at Yankee Candle despite 22% increased income
• 145 American & Canadian cuts at Genzyme Biosurgery
• ?? German cuts as Boston's PerkinElmer moves jobs to Asia
+ omens: • executives grabbed another 16% pay jump last year
vs. glimmers of intelligence:
• 1 UPsizing - EXi Telecoms offers jobs to 4000 of Corus' laid-off steelworkers in UK
• 1 TIMEsizing report - NYT gives general mention to businesses reducing shifts as alternative to layoffs

2/14/2001 wed
3 takeovers reported, worth $365m + $undisclosed
+ 3 downsizings reported in NYT & BG, totaling 805 lost US jobs:
• 375 jobcuts at Boise Cascade, who have the gall to whine about getting kicked off
taxpayer timberland (to stop their fattening on our trees & clearcutting our forests)
• 7% workforce cut (300 US jobs lost) as Kulicke & Soffa semiconductor eqpmt
freaks out over fewer orders, instead of just trimming their workweek 7%
(34 minutes a day for everyone including top execs), & keeping everyone
employed - earning, spending & buying 93% as many PCs as usual
• 130 cuts at Chicago Bridge & Iron after exhausting itself with takeovers
+ omens: • executives grabbed another 16% pay jump last year
vs. glimmers of intelligence: • 1 UPsizing - Calpine to build powerplant in Wisc.
• 1 multi UNmerger - Canadian Pacific to split in 5 ("pentacle-ize"?)
• 1 TIMEsizing report - S. Korea poised to cut its statutory workweek from 44 to 40 hours a week

2/13/2001 tue
- Like ancient Mayan human sacrificers, our insecure CEOs feel the need to take over
firms others have built & destroy the livelihoods of 1000s of their customers' customers -
16 takeovers reported, worth $13.72B + $$undisclosed
+ 2 downsizings reported in NYT & Boston Globe, totaling 2,460 lost US jobs:
• 1260 jobcuts at Yellow Corp. trucking 
• 5% workforce cut (1200 US jobs lost) as Steelcase furniture top execs get hysterical
about sales slowdown, instead of just trimming workweek 5% (24 minutes a day for
everyone including top execs), & keeping everyone employed - earning, spending &
buying furniture 95% as much as usual
+ 1 bankruptcy: • Crown Books goes Chap. 11
+ omens: • frankencrops spread in US • Bush's slanted taxcuts • forecast: worse to come
vs. glimmers of intelligence: • 2 contrasting approaches to solving society's problems
• readers nail Dem rot under Clinton & Bush rot out the starting gate

2/11-12/2001
weekend roundup per the NY Times and the Boston Globe:
• 37 downsizings reported, costing over 30,424 lost jobs
• 41 takeovers reported this week, worth $42.46B + $??
• 9 bankruptcy/failure mentions, with $2.71B + $?? debt
• 2 homeless, 2 prison & 1 workplace murder-suicide story
vs. 7 TIMEsizings + 11 UPsizings (15,698+ new jobs) + 2 UNtakeovers reported ($??)
< YTD: 191 dnsz (251475+ jobcuts) +170 takov($109B+) +56 bkrp vs. 29 timsz +14 upsz (20698=8%) +9 untak ($3.5B)>
+ weekend omens: • Street Beat Sportswear in Brooklyn NY
works people 100-140 hrs/wk with no overtime pay
vs. weekend glimmers of intelligence:
• Bain mgmt consulting nails layoffs as quick fix that crimps competitiveness
• more SF Bay Area firms promote temporary 32-hour workweek to avoid layoffs

2/10/2001 sat (re fri biz)
7 takeovers reported, worth $885m + $$undisclosed
+ 10 more downsizings reported in NYT & Boston Globe, totaling 14,412 lost jobs:
• 3% workforce cut (4000 worldwide jobs) as Motorola overreacts to semiconductor inventory buildup, instead of just having a 3% workweek cut (14 minutes a day) for everyone including top execs, & keeping everyone employed, earning, spending 97% of normal & maybe buying a PC
• 4000 US jobcuts at Dell  • 2825 US cuts at Lechters  • 2000 Swedish cuts at Electrolux  • 1000 US cuts at Cooper Tire  • 250 UK cuts at Land Rover  • 200 Calif. cuts at Credence Systems  • 65 WA cuts at Garden Botanika  • 52 MA cuts at Interspeed  • 20 Boston cuts at Leggat McCall 
+ omens: • well-meaning Bush-Fox parley bodes ill for both economies
• Japanese depression calls forth zeroing in on zero interest rate
vs. glimmers of hope: • New York City not all cold & unfeeling

2/09/2001 fri
- For 17th-century doctors it was "Got a problem? Bleed the patient. Apply leaches."
For today's CEOs it's "Got a problem? Fire people. Hack up your company." -
10 takeovers reported, worth $2.06B + $$undisclosed
+ 10 downsizings reported in NYT & Boston Globe, totaling 1,916 lost jobs:
• 2% workforce cut (700 worldwide jobs) as Ryder used trucks freaks out over
weak demand, instead of just doing a 2% workweek cut (10 minutes a day) for everyone
including top execs, & keeping everyone employed, earning, spending 98% of normal
& maybe buying a used truck
• 470 NJ jobcuts at RCN  • 220 Israeli cuts at Nice Systems  • 130 Silicon Alley
cuts at Predictive Systems  • 125 US cuts at GenRad  • 115 US cuts at Motley Fool 
• 100 more US cuts at Hasbro  • 56 more US cuts at Icebox.com  • unspecified UK cuts at TheStreet.com  • unspecified US cuts at GoRefer.com 
+ 3 bankruptcy stories: • Stern's dept. stores, since 1867 • Icebox.com • GoRefer.com
+ 1 homeless story: • reader says 'Quit the stopgaps, where's the long-term strategy?!'
vs. beams of hope: • 2 UPsizings - Commerce Bancorp adds 1500 jobs this year
- Manhattan's Silicon Alley adds 9,000 jobs a month, but this just a cheerleader estimate
• 3 TIMEsizing reports - Applied Materials implements 32-hour workweek instead of layoffs
- 3 Swedish industries jack pay & cut hours - Euro Central Bank reports progress it doesn't understand

2/08/2001 thu
6 takeovers reported, worth $232.9m + $$undisclosed
+ 7 downsizings reported in NYT & Boston Globe, totaling 11,802 lost jobs:
• 10,000 US jobcuts at Verizon Communications  • 760 Missouri cuts at GS Industries
• 16% staff cut (700 worldwide jobs) as BarnesandNoble.com over-reacts to larger-than-
forecast loss, instead of just a 16% hrs&pay cut for all (to four 8h24m-day workweek)
including top execs & keeping everyone employed & buying 84% usual # of books
• 250 Mass. jobcuts at Simplex Time Recorder  • 200 Chicago cuts at Burnett USA 
• 150 West Coast cuts at Stamps.com  • 92 US cuts at Amwest Insurance 
+ 2 bankruptcy stories: • GS Industries files
• Rep. John Conyers wants soften bankruptcy toughening bill for single mothers  
+ 1 homeless story: • more using NYC shelters than since '80s, especially single mothers
vs. glimmers of hope: • 1 UPsizing totaling est.300 new Ok. jobs - Corning builds optical fiber plant
• 1 UNtakeover - Telefonos de Mexico spins off America Movil
• 2 TIMEsizing reports - nimble US companies cut hours instead of jobs
- French temp hiring tapers as 35-hour workweek job creation maxes out

2/07/2001 wed
- short-term CEOs are constantly cutting costs to adjust to their over-investment
in their own 'incentives' & under-investment in their own markets (i.e., workforce) -
8 takeovers reported, worth $19.98B + $$undisclosed
+ 4 downsizings reported in NYT & Boston Globe, totaling 1,255 lost jobs:
• 30% workforce cut (700 worldwide jobs) as Viatel telecomms 'reduces expenses' &
streamlines its staff (& mkts), instead of doing a 30% workweek cut for all (to four 7-hr
days) including top execs & keeping everyone employed & shopping @ 70% of normal
• 500 CA jobcuts at Toshiba's US unit  • 37 US cuts at Inc.com 
• 18 Silicon Valley cuts at Lucent's Bell Labs unit 
+ 1 bankruptcy: • takeover-downsizing casualty, Sunbeam, with $2.6B 
+ 1 prison story: • reader nails FBI complicity in convicting innocent men
vs. glimmers of hope: • 6 UPsizings, totaling 13,498 new US jobs + ?? - 13,125 Lowe's
home improvement, 350 Toyota, 20 Lime ad agency, 3 TBCi ad agency, ?? TJX clothing, ?? FedEx
• real feedback dawns - Mazda cuts boardroom pay 10% in sympathy with next mon's 1800 early retirees
• 2 TIMEsizing reports - German economy outperformed by French economy and its 35-hour workweek
- Swedish pulp&paper employees get an annual 9-hr cut in worktime (cf. Swedish steelworkers on 1/24)

2/06/2001 tue
- as long as CEOs merge rather than manage, as long as B schools teach downsizing, not
timesizing, we'll mistake bubbles for booms while sinking deeper in chronic recession -
9 takeovers reported, worth $12.303B + $$undisclosed
+ 6 downsizings reported in NYT & Boston Globe, totaling 1,139 lost jobs:
• 22% workforce cut (400 worldwide jobs) as Razorfish e-consulting saves money (&
mkts), instead of 22% workweek cut for all (to four 7h48m days) including top execs,
& keeping everyone together, working, & earning & shopping at 78% of normal
• 293 CA & VA jobcuts at defunct eToys  • 176 WA & AZ cuts at Keane S/W mgmt 
• 125 NC cuts at WestPoint Stevens linens  • 100 CA cuts at Harmonic e-quipment 
• 45 DC & Boston cuts at kaput Voter.com
+ 2 bankruptcies/closures: • eToys  • Voter.com
+ 1 prison story: • NY inmate makes a million on stocks, buys house, helps fellow inmates
+ 1 workplace murder-suicide : • 5 dead, 4 wounded at Navistar factory near Chicago
vs. glimmers of hope: • 2 UPsizings - Tricon opens 100 KFC franchises in China,
- LTV restarts blast furnace & recalls 400 out of 600 laid-off employees
• 1 UNtakeover - Eastman Kodak splits in 2, chems vs. plastics
• Globe reader identifies real 'lingering menace' in the world
• Times reader underlines another French leadership area

2/4-5/2001
weekend roundup per the NY Times and the Boston Globe:
• 34 downsizings reported, costing over 102,817 lost jobs
• 38 takeovers reported this week, worth $10.06B + $??
• 2 bankruptcy/failure mentions, with $300m + $?? debt
• 1 homeless & 1 prison story 
vs. 5 TIMEsizings + 1 UPsizings (?? new jobs) + 1 UNtakeovers reported ($??)
< YTD: 154 dnsz (221,051+ jobcuts) +129 takov($66.65B+) +47 bkrp vs. 22 timsiz +3 upsz (5000=2%) +7 untak ($3.5B)>
1 weekend takeover report, worth $7B
+ 1 weekend bankruptcy story - Bugle Boy, with $105m debt
+ weekend omens: • reader nails US business's shortsightedness
• execs now above-the-law potentates - borrow millions & don't repay
vs. weekend glimmers of intelligence:
• study pushes better ventilation to cut sick time
• Calif. retailers motivated to cut outdoor lighting
• reader suggests monarchies now ahead of republic

2/03/2001 sat (re fri news)
4 takeovers reported, worth $260m + $$undisclosed
+ 5 downsizings reported in NYT & Boston Globe, totaling 1,569 lost jobs:
• 14½% workforce cut (800 US jobs) as Nokia cellphones move jobs to Mexico & Asia, instead of 14½% workweek cut for all (five 6h50m days) including top execs, & keeping everyone together, working, & earning & buying 85½% as many cellphones as usual
• 468 US jobcuts at Janus Capital  • 125 Argentine cuts at El Sitio 
• 100 US cuts at Zebco fishing reels  • 76 Tex. cuts at Netpliance
+ 2 bankruptcies/closures: • Petopia.com, with $2m debt 
• Bridge Information gets a grim nudge
+ omens: • US joblessness rises
vs. glimmers of hope: • 1 UPsizing - Mirant building new powerplant in Ill.
• illegal immigration from Mexico declines
• Japan to help small firms cut working hours

2/2/2001 fri
- inducing depression by downsizing moves into high gear -
5 takeovers reported, worth $142m + $$undisclosed
+ 9 downsizings reported in NYT & Boston Globe, totaling 61,610 lost jobs:
• 11% workforce cut (50,000 US jobs) as General Electric chokes on its huge Honeywell
takeover, instead of just 11% workweek cut for all (53 mins/day) including top execs,
& keeping everyone together, working, & earning & spending 89-100% of normal
• 6050 UK jobcuts at Corus steel  • 3500 cuts at Air Canada  • 1000 French cuts at Valeo
autoparts  • 400 Minn. cuts at Pentair tools  • 350 US at Pittston  • 160 Pa. cuts at Wor-
thington steel  • 120 Boston at Zefer e-consulting  • 30 Boston at Cambridge Incubator
+ 1 homeless story: • Japan dropped Deming, heeded Dunlap, & got...homelessness
+ 1 prison mention: • NY state prison population down 2% last year, first drop in 27 yrs
vs. glimmers of intelligence:
• France finally does some well-deserved crowing about its shorter workweek law
& the 263,000 jobs it saved or created (tho' largely ignored by our "work hard, not smart" media)

2/01/01 thu
the "big men" think they can build stable wealth on unstable jobs
8 takeovers reported, worth $2.09B + $$undisclosed
+ 6 downsizings reported in NYT & Boston Globe, totaling 3,641 lost jobs:
• 2300 US jobs lost as Shopko Stores closes 23 stores & 1 distribution center
• 5% workforce cut (800 Belgian jobs) as Electrabel utilities refocuses & retrains only
53% (900) of its 1700 phased-out people, instead of doing a 5% workweek cut for all (24
mins/day) including top execs & constantly crosstraining & retraining EVERYONE
• 405 cuts at Tenneco  • 75 at Greenlight.com  • 36 at CNC  • 25 at Fact City
vs. glimmers of hope: • 1 UNtakeover - EC squelches big Scandinavian paper merger
• 2 general TIMEsizing reports - US & France