Tennessee is a joke.

Thousands Lose Jobs in Tennessee 2008

Tegrant buys Greenvile plant, slams the doors

30-40 people will lose their jobs by end of August 2008. This Tegrant plant supplies "protective packaging products and speciality components" at this 80,000-square-foot plant. Many of the employees have worked there for 10-20 years. Tegrant bought the plant from SCA North America in March.

Yet Randy Harrell, president of the Greene County Partnership, said, "The economy continues to take a toll on Greene County's local industries. The news that Tegrant Corporation will close their operation in late August saddens me. The cost of transporting product due to high fuel prices must have played a role in their ultimate decision.

Once again, quality workers will be displaced and dedicated employees will be out of a job due to no fault of their own. I plan to meet with local company representatives next week and discuss what role the Partnership can play in providing assistance. We will do what we can to help them find jobs." Ref www.greenevillesun.com July 31, 2008.

Nissan offers "buyouts" (cans) 6000 Tennessee workers

Nissan North America Inc. will offer buyouts to about 6,000 employees at the company's two Tennessee plants and eliminate a night shift at one plant...The technicians and salaried employees at the assembly plant in Smyrna and powertrain plant in Decherd will be offered a lump sum of $100,000 or $125,000 depending on tenure, as well as medical and car purchase benefits...it (Nissan) does not plan any layoffs. (What exactly is this, an extended vacation without pay?) Ref. Associated Press August 31, 2008.

More bad news for Tennessee: State layoffs seem inevitable

Gov. Phil Bredesen "was pleased" even though a state buyout program fell short. "The buyout program was intended to save the state $64 million, which was one element of a wider $468 million in budget reductions due to slowing revenues...The lackluster interest in the buyouts increased the likelihood that the state will lay off employees next year. The governor said Tuesday that one way or another, the state must reduce its payroll by $64 million...The offer includes four months of base salary, $500 for each year of service, and six months of subsidized health coverage with an option to pay for an additional year. The benefits also include tuition aid at Tennessee colleges and universities, and a one-time payment for those 65 and older." Tennessee even before this was a poor, low-wage state as it was.

Tennessee is "seeing revenues fall and demand for services rise...29 states are experiencing budget shortfalls this year...15 states that are reducing their payrolls this year by eliminating jobs or not filling them when they become vacant...At least 12 states are raising revenue with new taxes, a path that Tennessee has opted not to take..." Raising taxes in Tennessee for any reason tends to bring out lynch mobs. Ref. August 6, 2008 The Tennessean

Another 600 Jobs lost in Johnson City

WJHL TV (December 16, 2008) is reporting Wyndham Vacation Ownership in Johnson City will close its center that markets vacation opportunities. The call center is expected to cease operations some time in February, a move that will cost 300 people their jobs. Johnson City officials claim to have a possible client for the shut-down Finger Hut building, but won't give specifics that could produce 300 jobs. This tends to be part of a pattern where companies change names, lower wages, get the corporate welfare, and we start again. I'm not claiming the two companies are related, it's just a pattern they use around here.

One former worker had this to say, "I worked there when it was Fairfield. Employee turnover was high then and I expect it still is. The telemarketers must meet a weekly quota or they are terminated. I never considered it permanent, just something to pay the bills while I looked for a less-demanding job. I really feel for all those folks who will be out of work."

Ruby Tuesday posts wider loss on write-downs

MARYVILLE, Tenn. (AP) -- Ruby Tuesday Inc. said Wednesday it posted a wider loss in the second quarter this year than last because of restructuring costs and a nearly 10 percent drop in revenue as consumers cut spending. The company said it lost $37.4 million, or 73 cents a share, in the three-month period ending Dec. 2. That compares to a loss of $10.4 million, or 20 cents a share, in the same period last year. The results include a pretax charge of $56.2 million, or 71 cents per share, to cover restructuring its property portfolio and a $19 million drop in the value of its intangible assets...Ruby Tuesday did not release results excluding those one-time items. The mall at Johnson City has a Ruby Tuesday and along with Washington County, Tennessee has already lost 700 jobs since December. (Local Channel 5, 6 January 2009.)

To quote BHC January 4, 2009, Back in November, the Tri-Cities Labor Market Report prepared by ETSU revealed the region lost 2300 jobs in the third quarter of last year. By our calculations, since then at least 700 more have become unemployed. So, what can we expect from 2009? More of the same, according to ETSU Professor Steb Hipple. "We are going to continue to see rising unemployment declining employment, falling output, declining retail sales."





 


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