Do bill collector phone calls factor in to who gets laid off? I received a short one-line email the other day that said, “Go after them because their calls at work cost me my job.” The law says you can tell callers not to call you at work, and theoretically all calls will cease. Employers are cutting back in a bad economy. Some employers are simply looking for an excuse.
At one time companies held worker’s hours to 39-1/2 per week, preventing them from being full time employees. The practice has been around for decades. Today we look at others – those not counted in unemployment numbers.
J.P. Morgan Chase told investors today, February 26, 2009, that it will cut 14,000 jobs, up from a previously announced 9,200 in December.
A Wisconsin bank was hit by losses and took money from the TARP program. Now they are laying off. Marshall & Ilsley Corp., Wisconsin’s largest bank, is cutting 830 jobs and slashing its dividend after posting a fourth-quarter net loss on borrower defaults. The stock dropped 18 percent in early trading.
GMAC said its closing Nuvell Credit Co., its Jacksonville-based subprime lending subsidiary, following its decision to stop funding loans for customers with bad credit. Nuvell stopped writing new business Jan. 7 in preparation for the closure, which will affect 348 employees in Florida, Arkansas and Texas. A GMAC,spokesman told trade magazine Automotive News that 136 employees will take jobs at GMAC and the other 212 will be laid off.