Timesizing® Associates

dooms du jour, Dec/1999
[Commentary] ©1999 Phil Hyde, The Timesizing Wire, Box 117, Harvard Sq, Cambridge MA 02238 USA (617) 623-8080


12/31/1999 fri
<< ½yr totals (jul-dec):  286 dnsz (398,123+  jobs) + 1315 takov ($1177B+) vs. 57 upsz (52,026+ =13%) + 67 untak ($225B+) >>
2 pre-NewYears downsizings reported, totaling 3100 jobs lost:
• 3000 jobcuts as huge German builder Holzmann steps back
from bankruptcy and forgets VW's '94 timesizing solution
• 100 cuts as "Inspire" Insurance Solutions outsources
& gives up on its own software - how inspiring
+ 9 takeovers reported, totaling $3.19B +$??
+ 1 clunker - crash foreseen in 2003
vs. 1 beacon of hope -
an innovation that catches our morality up with our technology:
a technology of sharing that can turn the next 1000 yrs into heaven
& 1+6 glimmers of hope:
• new feature - guest columnists
• US chains bar gene-altered foods
• 2 UPsizings - Unisys 4000 new jobs & • GM 1000
• 1 UNbankruptcy - shareholders OK $2B rescue of 150-yr-old Holzmann
• 2 UNtakeovers - CEO takes CEM private & • AMR makes no offer for Aerolineas Argentinas

12/30 thu - 4 holiday-week downsizings reported, totaling 679 cuts + unspecified:
• 47% workforce cut (290 jobs) as Value America computers hits computer problems & restructures, instead of 47% workweek cut (21.2 hrs) & everyone keeps working & gets focused on the problem
• 200 cuts as Century Business Services of Cleveland consolidates units & our mutual consumer base
• 5% staff cut (135+?? jobs) as Chesapeake Corp. closes Mechanicsburg plant & cuts other
staff, instead of 5% hours cut (to 38/wk) & everyone stays employed & spending
• 4% hours cut would save 100 jobs as Chesapeake Corp. closes plants in Mexico
& England, instead of 4% hours cut (to 38.4/wk) & everyone keeps their jobs
+ 2 bankruptcies mentioned - Fruit of the Loom & Ace Baking i.c.cones
+ 11 takeovers reported, totaling $1.024B + $$undisclosed
vs. 2 glimmers of hope:
• bold Wisconsin workfare expt saves taxpayer $$$ (but makes little diff to poor)
• 1 UPsizing: 9 new jobs as McDonald's opens desserts-only kiosk in Rio's biggest shantytown

12/29 wed - 3 holiday week downsizings reported, totaling 100 cuts + unspecified: • 1.5% workforce cut (100 jobs) as Bahrain-based Investcorp takes over Minneapolis-based Jostens (yrbks & classrings), instead of trivial 1.5% workweek cut (to 39.4 hrs) & all keep working, earning & spending normally
• unspecified cuts as Sipex integrated circuits shuts newly acquired Calogic in Fremont,
California and consolidates in Milpitas, thus shrinking its and our consumer base
• ?? cuts as Saks closes 3 stores in Wisconsin (hey, they waited till after Xmas)
+ 1 more bankruptcy mentioned - KCS Energy in Houston needs $190m credit
line in wake of petrol price slump sprung by '97 Asian recessions
+ 13 takeovers reported, totaling $9.52B + $undisclosed
+ 1 clunker - US population hits 274M & still no
mechanism for setting target or maximum
+ including 2M in jail or prison by Feb.
vs. glimmer of hope -
Warren Buffett doubles his stake in world's most advanced company, timesizer Nucor Steel

12/28 tue - 1 holiday week downsizing reported - Equistar Chemicals closes some Texas production lines to reduce costs &, instead of cutting hours a little for everyone & reassigning tasks, cuts hours completely for 180 people, spoils their Xmas & whacks another chip out of our national consumer base
+ 1 bankruptcy mentioned - wheelchair maker needs crutches: Graham-Field goes Chap.11
+ 9 takeovers reported, totaling $929m + $undisclosed
vs. glimmer of hope - Warren Buffett donates $134m
to 4 undisclosed charities (tax advantage??)

12/25-27/99 - Xmas weekend roundup per NYT & Boston Globe:
• 4 pre-Xmas downsizings reported (over 4,523 jobcuts)
• 54 takeovers reported this past week (worth over $54.56B)
• 3 bankruptcy mentions (Tu;Th): Tufts Health/NH, #9 Visual Technologies; Naya
vs. 2 UPsizings reported (over 2000 new jobs created) & 6 UNtakeovers ($17.815B)
<< ½YTD:  277 dnsz (394,064+  jobs) + 1273 takov ($1162.42B+) vs. 54 upsz (47,017+ =12%) + 65 untak ($224.7B+) >>
vs. glimmers of hope
: • Clinton coughs up nearly cool $billion for homeless
• former State Dept. adviser raps cradle of democracy for arbitrary power moves
• our costly 'drugs illegal but cigarettes legal' was exactly the opposite 100 years ago
+ New Features menu: • Phil Hyde challenges Ted Kennedy in Y2K Senate race
• Timesizing.com Party, new political party for shorter workweek
• goodnews split in three: regular, high test & transition
• half-year to date totals - see above <<>>
• site decolorized for visually impaired
• website reactions listed
• opus errata online

12/24 fri - no Xmas eve downsizings reported
(& mkts closed till Mon, so havvamerry & seeya Mon)
but 7 downsizing-inducing takeovers reported, totaling $1.85B
+ 5 minicollapsers: • 126-hour workweek alive & well @84¢/hr on cruise ships
• Vodafone AirHead forges ahead with suicidal $127.7B megabid for Mannlymann
• bulldozers "prepare" pre-Columbian archeology site in Mexico for mongo rock concert
• Bank of America, concerned about employees anxious to help bank cut costs (without layoffs), initiates "volunteer" Adopt An ATM program for them to do on own time
• retailers' best customers moving to the Web
vs. 4 glimmers of hope:  • Sweden #1 vs. gender gap, 40% MPs are women (US#43,13%)
• 1 UPsizing - Starbucks to open 400 more coffee shops (unspecified new jobs)
• 2 UNtakeovers - Nextel drops hostile $8.3B bid for NextWave &
• investor gp incl. mgmt takes Wilmar private for $365m

12/23 thu - 1 pre-Xmas downsizing reported (23 Leybold jobs)
+ 14 downsizing-inducing takeovers reported, totaling $5.899B
+ 1 bankruptcy = waterbottler Naya after Coke distributor started own brand
+ 3 clunkers: • German Chancellor Gerhard Schröder's "alliance for jobs" unravels
• all major candidates except Bradley blur Church/State separation in campaign pleas
• Globe's Ellen Goodman hammers Time Mag for profitless Person of the Year
vs. 3 glimmers of hope:  • spontaneous transitional case of timesizing, not downsizing
• US Postal Service places biggest ($12m) electric vehicle order in history
• Israel & Egypt end 'cold peace' for the millennium - Egypt to supply gas thru 'peace pipeline'

12/22 wed - 0 downsizings reported (CEOs realize Sat=Xmas?)
but 11 takeovers reported totaling $2.93B
+ 3 clunkers: • FTC got no guts to stop misleading nuke ads
• Nevada thinks they own national forest - US attorney & Justice chicken
• Massachusetts towns corrupt - ethics laws a joke - AG & lawmakers chicken (or ‘in’ on it?)
vs. glimmers of hope - 4 UNtakeovers: • Genzyme General thwarted from gulping Cell Genesys ($350m)
• ditto Italy's biggest bank, San Paolo-IMI, from taking over - Banca del Salento ($?) &
• Banca di Roma ($8.8b) &  • Istituto Nazionale delle Assicurazioni ($?)

12/21 tue - 3 Xmas-week downsizings reported, totalling 4500 + unspecified:
• 2.9% additional staff cut (3500 jobs) as Honeywell tries to save money by clobbering its own best clients & boosters, not to mention our common consumer base, instead of doing a 2.9% cut in hours & pay for everyone (to 38.8 hrs/wk) & keeping everyone employed & spending normally
• 1.2% workforce cut (1000 jobs) as Dana autopart supply overreacts to a lost contract
by self-amputation, instead of just a half-hour/week worktime cut for all (= 1.2%
hours cut) & everyone keeps working, earning, spending & buying auto parts
• unspecified jobs lost as Mulryan/Nash ad agency in NYC closes doors
+ 2 bankruptcies mentioned: • Tufts Health ordered liquidated in NH
• Number Nine Visual Technologies files Chapter 11
+ 21 takeovers reported on 12/21, totaling $16.88B
vs. glimmers of hope:  • Vermont high court blesses same-sex marriages
• Clinton puts the screws on SUV emissions
• 1 UPsizing - 2000 new jobs from Toyota

12/19-20 - weekend roundup per NYT & Boston Globe: • 49 takeovers reported (worth over $24.26B)
• 1 bankruptcy mention (Tue): US group buys Korean bankrupt Hanbo Iron&Steel for $½B
• 16 downsizings reported this past week (23,645 positions are vanishing)
vs. 2 UPsizings reported (465 new jobs) & 8 UNtakeovers ($17.03B)
<<< ½YTD:  273 dnsz (389,541+  jobs) + 1219 takov ($1107.86B+) vs. 52 upsz (45,017+ =12%) + 59 untakov ($206.88B+) >>>
+ 1 big weekend merger: Monsanto and Pharmacia&Upjohn for $27B
+ 1 clunker: firms hoard pension benefits to puff bottom line
vs. glimmers of hope
:
• new book traces experimental cycles thru welfare history, 'Building the Invisible Orphanage'
+ New Features menu: • Phil Hyde challenges Ted Kennedy in Y2K Senate race
• Timesizing.com Party, new political party for shorter workweek
• goodnews split in three: regular, high test & transition
• half-year to date totals - see above <<<>>>
• site decolorized for visually impaired
• website reactions listed
• opus errata online

12/18 sat (re fri biz) - 3 downsizings reported, totalling 1230:
• 5.6% workforce cut (700 jobs) as Dun&Bradstreet grasps for bigger profits by fueling consumer
base deathspiral, instead of 5.6% workweek cut & everyone keeps working & spending
• 24% staff cut (500 people) as BF Goodrich tries to recover from unnecessary purchase
of Coltec, instead of 24% hours cut (to 30.4/wk) & transition cushioned, not crabbed
• 37.6-hr workweek for all could avoid 6% job cut (i.e., 30 staffers) as NY Times lays
pre-Xmas 'voluntary separation' ("OK who wants to walk the plank?") on Worcester
newspaper that just covered the fire and funeral of the six courageous firefighters
+ 5 takeovers reported, totaling $866m
vs. glimmers of hope: • EPA bestirs itself to order 392 plants to halve air pollution
• 2 UNtakeovers - Dun&Bradstreet to spin off Moody's & • Protocol Systems rejects $80m bid from Invivo
<<< ½YTD totals:  273 dnsz (389,541 +  jobcuts) + 1219 takov ($1107.86B+) vs. 52 upsz (45,017+ =11%) + 59 untakov ($206.88B+) >>>

12/17 fri - 2 downsizings reported, totalling 925:
• 23% workforce cut (700 jobs) as Mexico's Taesa grounded after planecrash, instead of 23% workweek cut (to 30.8 hours/wk) to keep everyone employed and spending normally
• 225 more jobcuts as clueless Raytheon self-amputates instead just trimming hours for all
+ 6 clunkers: • scurvy workers betray labor & bite benefactor: 13 ingrates sue Feuerstein
• Times columnist pushes biofiddled foods regardless of unreckonable risks
• Y2K to cost US over $8B - still think programmers are geniuses?
• Boston's homeless increase 10% despite "healthy economy"
• can you further deface a dung-daubed Madonna?
• Internet sales up, customer satisfaction down
+ 8 takeovers reported, totaling $3.36B
vs. 1 beacon, 6 glimmers of hope:
France details transition to 35-hr workweek
• Quebec freedom fighters take out a full-page ad in the NY Times (but what about "their" Cree & Inuit??)
• Mass. utility regulator draws the line - quits to find job with more time for family
• 1 UPsizing - Intel to create 450 new jobs at chip plant in Hudson, Mass.
• 3 UNtakeovers - FTC squelches $7.3b Abbott gulp of Alza &
• $1.75B Royal Ahold aquisition of Pathmark Stores,
• Carnival lets $1.7B bid for NCL Holding expire
<<< ½YTD totals:  270 dnsz (388,311 +  jobcuts) + 1214 takov ($1106.99B+)
vs. 52 upsz (45,017+ =12%) + 57 untakov ($206.8B+) >>>

12/16 thu - 2 downsizings reported, totalling 16,150 lost jobs: 
• a 34.8-hr workweek (13% hours cut) would save 16,000 Exxon Mobil jobs
• a 36-hr company workweek (9.7% cut) would save 150 jobs at Sierra Health Services
+ 12 takeovers reported, totaling $4.5B
vs. 3 glimmers of hope
• Doris Duke Foundation gives $14m for environment in NJ & RI
• women gaining seats in Fortune 500 boardrooms at nearly ½% a year
• 1 UNtakeover - Euro RSCG Worldwide "just too many differences" with Citron Harriman Bedecarré
<<< ½YTD totals:  268 dnsz (387,386 +  jobcuts) + 1206 takov ($1103.63B+)
vs. 51 upsz (44,567+ =12%) + 54 untakov ($196.05B+) >>>

12/15 wed - the "tragedy of the commons" - there's always an incentive, at the
short-term and single-firm level, to chip bits off our common consumer base -
"oh they'll get new jobs" - but not if we chip fast & often enough to outpace re-hiring

5 downsizings reported, totalling 2725 lost jobs:  • a 36-hr workweek (10% hours cut) would save 1000 Inacom jobs in Omaha and • 325 IRI jobs in Chicago
• 31.6-hr workweek (21% cut) & Sanwa can stop sayonara for 1000 sararimen
• 38.8-hr workweek (3% cut) would save 300 jobs at Milacron
• 20-hr wkwk (50% cut) would save 100 Metacreations jobs
+ 3 clunkers:  • 2 Mass. firms help blur line on work
• CEO at US banking unit gets $4.7M, more than his boss in Europe
• "reformed" IRS now switching audits from rich to poor (just like 1980s tax "reform")
+ 8 takeovers reported, totaling $3.57B
vs. 5 glimmers of hope:  • pregnancies fall to lowest level in 20 yrs
• Clinton proposes 3 new national monuments, 1 expansion, 18 new historical/natural sites
• antitrusters sue Monsanto for rushing biodoctored seeds to market & monopolizing
• 1 UPsizing - 15 new jobs at new Motorola product design lab near MIT
• 1 UNtakeover - AMR spins off its $6.2B 83% stake in Sabre Holdings
<<< ½YTD totals:  266 dnsz (371,236 +  jobcuts) + 1194 takov ($1099.13B+)
vs. 51 upsz (44,567+ =12%) + 53 untakov ($196.05B+) >>>

12/14 tue - you know, if only we could blast through the manic stock market noise & get it through everybody's head that we are already in deep trouble -
4 downsizings reported, totalling 2615 lost jobs:  • 2350 jobs lost as AutoNation closes most of its used-car superstores & shrinks HQ by 37.5%
• 7.8% workforce cut (300 jobs) at Glatfelter paper in York, Pa., instead of non-traumatic 7.8% workweek cut for all (to 37 hrs) & everyone keeps earning & spending normally
• 150 employees ashcanned as Cahners restructures to free up cash & speed up product development - if there's anyone left employed to buy when they finish
• 46.6°% staff cut as Abrams shuts its fixture corp., instead of 46.6°% hours cut to 21.3 hrs/wk & everyone pitches in to save the company
+ 1 bankruptcy mentioned - Korean bust Hanbo Iron&Steel sold to US consortium for $½B
+ 15 takeovers reported, totaling $11.7B
vs. 3 glimmers of hope:  • 100s protest bio-engineered food in Oakland
• reader thinks it's time social sciences caught up with natural sciences
• 1 UNtakeover - Hertz ends talks to buy AMI Leasing
<<< ½YTD totals:  261 dnsz (368,511+  jobcuts) + 1186 takov ($1095.56B+)
vs. 50 upsz (44,552+ =12%) + 52 untakov ($189.85B+) >>>

12/12-13 - weekend roundup per NYT & Boston Globe:
• 47 takeovers reported (valued at over $32.34B+)
• 4 bankruptcy mentions (wed,fri,sat) - Physician Computer Net,
Iridium's white knight, Learningsmith, bankruptcy "rescues"
• 8 downsizings reported this week (only 7210 jobs gone - scaling down for Xmas?)
vs. 10 UPsizings reported (3792 new jobs) & 4 UNtakeovers ($79m)
<<< ½YTD totals:  257 dnsz (365,896+  jobcuts) + 1170 takov ($1083.6B+)
vs. 50 upsz (44,552+ =12%) + 51 untakov ($189.85B+) >>>

+ 1 weekend takeover, worth $260m
+ 1 suicide mention - recent suttee hilites centuries-old sexism in India
vs. glimmers of hope
: • Internet polling spurs discussion about more direct democracy
• readers slam near-sighted Boston Globe editorial sucking up to Lords of Free Trade
+ New Features menu: • Phil Hyde challenges Ted Kennedy in Y2K Senate race
• Timesizing.com Party, new political party for shorter workweek
• goodnews split in three: regular, high test & transition
• half-year to date totals - see above <<<>>>
• site decolorized for visually impaired
• opus errata online

12/11 sat (re fri biz) - 1 downsizing reported - 2350 jobs lost as Learningsmith shuts all 87 stores & quits  + 2 bankruptcy mentions:  • Learningsmith goes Ch.11, another loss for Harv'd Sq
• Boston lawyer debunks NY lawyer's bankruptcy "rescues"
+ 5 takeovers reported, totaling $444.3m
+ 2 clunkers:  • reader roasts those who can't draw a line on work
• questioning ballooning venture capital - & why just "venture" capital?
vs. glimmers of hope:  • Times reader suggests regulating doctors' megahours - & why just MDs?
• 1 UNtakeover - ACX Technologies to spin off industrial ceramics unit as Coors Tek Inc.
<<< ½YTD totals:  257 dnsz (365,896+  jobcuts) + 1170 takov ($1083.6B+)
vs. 50 upsz (44,552+) + 51 untakov ($189.85B+) >>>

12/10 fri - no downsizings reported but 10 takeovers reported on the 10th, totaling $21.43B +$??
+ 1 bankruptcy mentioned - broke Iridium finds a white knight in Motorola
+ 1 clunker - whole concept of "technicolor dreamcoat" based on mistranslation
vs. 6 glimmers of hope:  • Australian jobless fewest in 9½ years  • Melissa virus culprit confesses
• Former Sen. Bradley and Sen. McCain to cross party lines and join forces for campaign finance reform
• Mitt "the Mitten" Romney kicks butt, munges mgmt, cleans up Salt Lake Olympic Committee scandal
• Revert to Childhood dept - big ad for Xmas electric trains shows up in NY Times business section!
• 1 UPsizing - Network Plus to open Randolph MA office & hire 250 by 2003
<<< ½YTD totals:  256 dnsz (363,546+  jobcuts) + 1165 takov ($1083.2B+)
vs. 50 upsz (41,052+) + 50 untakov ($189.85B+) >>>

12/09 thu - 3 downsizings reported, totalling 1210 defunct jobs –
• 5% workforce cut (500 jobs) as AGCO tractors abreacts to falling demand, instead
of 5% workweek cut (to 38 hrs) & everyone keeps working & buying farm products
• 16% downsizing (430 jobs) as Tufts Health pursues spiral of less staff- lower benefits- higher premiums, vs. 16% timesizing (33.6-hr wk) & everyone keeps their health insurance
• 7% staff cut (280 jobs) as Revlon tries to cut costs by amputation, instead of a 6% hours
cut for all (to 37.2-hr/wk) & everyone stays employed & buying cosmetics as usual
+ JailView: Black Hole of Calcutta in Maine: 98 inmates to stuff into jail built for 58
+ 2 clunkers: • Airbus to build a 650-seater when our airports can't even handle 350
• Mass. workers earn 5% less that 10 yrs ago, indicating high-low pay split
+ 8 takeovers reported, totaling $4.46B +$undisclosed
vs. glimmers of hope:  • France sticks to ban on Brit beef
• Creeping Accountability Dept:  now even chain-smoking France holds ciggie firms liable
• Hero Worship Dept:  wiley Chas. Kernaghan targets sweatshops with secret weapon - nuns
• 2 UPsizings: Little Caesar to open 400 Japanese & 300 Latin restaurants (700 at, say, 5 FTE? =±3500 newjobs)  + 2 new Stop&Shops
<<< ½YTD totals:  256 dnsz (363,546+  jobcuts) + 1155 takov ($1061.8B+)
vs. 49 upsz (44,302+) + 50 untakov ($189.85B+) >>>

12/08 wed - 4 downsizings reported, totalling 3650 lost jobs + unspecified –
• 20% workforce cut (2200 jobs) as Hasbro toys goes kamekazi because
Star Wars products aren't hot - despite Furby & Pokémon! - instead of 20%
workweek cut (32 hr/wk) & everyone stays employed & buying toys for their kids
• 7.9% staff cut (850 jobs) as IMC Global fertilizer overreacts to weak farm economy & lower phosphate prices, instead of 7.9% hours cut (to 36.8/wk) & everyone keeps working & spending
• 600 jobs lost as Intermet Corp. (cast-iron autoparts) shuts the foundry that named Ironton, Ohio
• unspecified cuts as SAIC buys everything but Auto Network Exchange employees from AIAG
+ 1 bankruptcy mentioned - Physician Computer Network files Ch.11 in NJ
+ 1 clunker, a real puzzler - a highschool shooting in Holland! (no deaths)
+ 9 takeovers reported, totaling $1.17B +$undisclosed
vs. glimmers of hope:  • global economy up (but Africa, Latin America down)
• 3rd-quarter U.S. productivity up (but labor costs = pay = consumer spending down)
• 4 UPsizings via Boston-area startups:  SupplierMarket.com, Waltham;  PurchasingCenter.com,
Burlington;  Mainspring Communications, Cambridge;  Sterling Network, Quincy
<<< ½YTD totals:  253 dnsz (362,336+  jobcuts) + 1147 takov ($1057.3B+)
vs. 47 upsz (40,802+) + 50 untakov ($189.85B+) >>>

12/07 tue - 0 downsizings reported, but 14 takeovers reported, totaling $4.84B +$undisclosed
+ 2 clunkers: • another school shooting, no deaths • SSI underestimates life expectancies
vs. 7 glimmers of hope - Ford quits anti-ecology group  + Dell boosts MS Windows' rival, Linux
+ 2 UPsizings:  • Deutsch Inc. opens 12-job Boston agency  • L.L.Bean opens Maryland store
+ 3 UNtakeovers: • Smithfield backs out of $79.3m Tyson's Pork Group buy 
• Roche spins off fragrance & flavor  • NatWest nixes Scots banks' bids
<<< ½YTD totals:  249 dnsz (358,686+  jobcuts) + 1138 takov ($1056.1B+)
vs. 43 upsz (40,802+ =11%) + 50 untakov ($189.85B+) >>>

12/05-06 - weekend roundup per NYT & Boston Globe:
• 65 takeovers reported (valued at over $29.26B)
• 11 downsizings reported this week (over 27,935 jobs gone)
• 4 bankruptcies mentioned (tue,sat):  Chernogorneft, Yale bookstore, Tultex, ICO Global
vs. zero UPsizings reported (0 new jobs) & 1 UNtakeover ($572m - wed)
<<< ½YTD totals:  249 dnsz (358,686+  jobcuts) + 1123 takov ($1051.3B+)
vs. 40 upsz (40,760+ =11%) + 47 untakov ($189.77B+) >>>

+ 1 paradoxical weekend crime report
+ 1 weekend takeover: AC-CA
vs. glimmers of hope/ecological breakthroughs:
 
• Bangkok experiments with public transportation, $1.7B "el"
• gutsy Globe reader takes on deepest social reflex - "the chiiildren"
• "hybrids" by Honda & Toyota take big step toward fully electric cars
• GreenMountain.com ties households into non-polluting electricity suppliers
1 UPsizing: Young & Rubicam opens "Y.& R. 2.1" agency with 30 new jobs
+ New Features menu: • Phil Hyde challenges Ted Kennedy in Y2K Senate race
• Timesizing.com Party, new political party for shorter workweek
• goodnews split in three: regular, high test & transition
• half-year to date totals - see above <<<>>>
• site decolorized for visually impaired
• opus errata online

12/04 sat (re fri) - 4 downsizings reported, totalling 3700 vanishing jobs + unspecified:
• 60% workforce cut (2600 jobs) as Tultex athletic garb goes bankrupt under competition, instead of gradually trimming workweek & focusing everyone on sales
• 1100 jobs cut as Britain's Severn Trent reacts to 12% government cut in price of water
• unspecified cuts as PairGain Technologies vacuums U.S. jobs across to Mexico
• unspecified cuts agreed to by workers of troubled Holzmann in Germany
+ 2 bankruptcies mentioned - Tultex files & ICO Global sells out
+ 11 takeovers reported, totaling $1.894B + $$undisclosed
+ 1 clunker: downside of disparity - world's 199th richest man killed in Riviera retreat
vs. glimmers of hope: • 234,000 new jobs in Nov., but...
• leukemia pill yields dramatic early results
• handgun dealer quits business to settle lawsuit
<<< ½YTD totals:  249 dnsz (358,686+  jobcuts) + 1123 takov ($1051.3B+)
vs. 40 upsz (40,760+ =11%) + 47 untakov ($189.77B+) >>>

12/03 fri - 0 downsizings reported, but 12 takeovers reported, totaling $2.9449B + $$undisclosed
+ 1 clunker - $5.789T debt - corporations are breaking records borrowing to finance mergers
vs. glimmers of hope: • NATO allies finally stand up for their own priorities against United States
• Britain ends direct rule in Ireland, Protestants share power with RCs in Ulster, Eire drops claim
<<< ½YTD totals:  245 dnsz (354,986+  jobcuts) + 1112 takov ($1049.4B+)
vs. 40 upsz (40,760+ =11%) + 47 untakov ($189.77B+) >>>

12/02 thu - 3 downsizings reported, totalling 1135 vanishing jobs –
• 7.1% workforce cut (850 jobs) as Bausch&Lomb reacts suicidally to tougher competition in contact lens market, instead of doing 7.1% workweek cut (to 37.2 hrs) & everyone keeps their health insurance
• 20% staff cut (242 jobs) as Resource Bancshares Mtg transfers jobs to Internet technology & worsens biz loss from higher rates, vs. 20% hours cut (32 hr/wk) & supporting its part of the consumer base
• 43 jobs lost in Boston as Banco Santander Central Hispano shuts
its U.S. fund mgmt unit after a big bank merger in Spain
+ 21 takeovers reported, totaling $19.1B + $$undisclosed
vs. glimmers of hope - Clinton comes out for demonstrators against WTO's labor & environment bashing
<<< ½YTD totals:  245 dnsz (354,986+  jobcuts) + 1100 takov ($1046.5B+)
vs. 40 upsz (40,760+ =11%) + 47 untakov ($189.77B+) >>>

12/01/99 wed - 4 downsizings reported, totaling 23,100 jobs lost –
• Canada revs "engine of depression" - banks in record profit plan record layoffs (15,000)
• 6,000 jobs to be downsized after last year's Swedish-British $35B Astra-Zeneca merger
• 2% staff cut (1100 jobs) planned after June's AlliedSignal takeover of Honeywell,
vs. 2% hours cut (39.2/wk) & all stay employed & spending normally
• 10% cut in US workforce (1000 jobs) as Nissan death-spirals,
vs. 10% hours cut (to 36) & everyone keeps buying cars
+ 7 takeovers reported, totaling $328m + $$undisclosed
+ 1 clunker - report says majority of mergers actually destroy shareholder value
vs. 3 glimmers of hope -
• great coverage for WTO protest
• good coverage for World AIDS Day
• 1 $572m UNtakeover: Liberty Media bags Ascent buy
<<< ½YTD totals:  242 dnsz (353,851+ jobcuts) + 1079 takov ($1027.4B+)
vs. 40 upsz (40,760+ =12%) + 47 untakov ($189.77B+) >>>


Click here for dooms du jour in Nov/99.
Click here for dooms du jour in Oct/99.
Click here for dooms du jour in Sept/99.
Click here for dooms du jour in Aug-July/99.
Click here for dooms du jour in Jun-May/99.
Click here for dooms du jour in before Apr.30/99.


For more details, see our laypersons' guide Timesizing, Not Downsizing, which is available online from *Amazon.com and at bookstores in Harvard and Porter Squares, Cambridge, Mass.

Questions, comments, feedback? Phone 617-623-8080 (Boston) or email us.


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