Thursday, February 26, 2009

So much for the good news......

Here in central Ohio, two large companies have announced layoffs. Channel 10 reported these two developments which involve Limited Brands and the Longaberger Company. With so many people losing jobs, buying clothes and baskets seems to be a lower priority right now.

On the same day that Columbus-based Limited Brands reported net income for the fourth quarter and all of 2007 fell significantly, the company announced it would lay off 400 employees.

Of the 400 workers, about 230 of them are employed in Columbus, according to a Limited Brands spokeswoman.

The remainder of the layoffs were expected to occur companywide....

The news about Longaberger follows here from 10tv:

The Longaberger Company announced Thursday that it was eliminating 295 jobs at its corporate headquarters in Newark.

According to a company news release, 120 management, administrative and support positions would be eliminated, along with 175 manufacturing positions.

The company also announced that it would reduce wages for employees at all levels, including senior management and its chief executive officer, Tami Longaberger.....

This is very sad news.