Timesizing® Associates

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


7/31/2001 tue
9 takeovers reported in NY Times (NYT) & BG, totaling $8.3B + $$undisclosed
+ 2 downsizings, with undisclosed jobcuts, reported in NYT & Boston Globe (BG):
• undisclosed jobcuts at PanAmSat  • unspecified Ma. cuts at Harcourt Higher Education
+ 1 bankruptcy: • HA-LO Industries promotional products files for Chapter 11 protection
+ ominous march of folly: • no downturn this deep since '82 • Japan output down again • Europe now sees US as rogue state like Iraq • workfare on outdated workweek harming kids • leisure-starved Americans begin starvation of leisure industries • UK judge lets gov't force-privatize London subway • RC bishops condemn condoms despite AIDS in S. Africa • Dems let Cheney stick Navy (i.e. us) for his juice
vs. glimmers of hope:
• 4 UPsizings: - Tellium opens Ma. lab, 20 new jobs
- Ford to double distrib ctrs   - Imaginarium.com revs up
- Emerald Casino tries wangle casino OK for Chicago, MGM piles on
• Canada decriminalizes medical marijuana  • more venture dough for biotech (but less for rest)

7/29-30/2001
weekend roundup per the NY Times and the Boston Globe:
• 26 takeovers reported this week, worth over $10.59 billion
• 23 downsizings reported this week, costing over 90,281! lost jobs
• 1 bankruptcy, Essential.com in Chapter 11 with $2.8 million debt 

vs. 6 TIMEsizing stories + 2 UPsizings (?? new jobs) + 2 UNtakeovers ($??)
< YTD:759 dnsz (922692 jbcts) +924 takv($563B) +134 bkrp vs. 183 timsiz +78 upsz (43819+=5%) +38 untk ($103B+)>
7 weekend takeover reports, totaling 19.6m + $??
+ 2 downsizings reported this weekend, totaling 68 US jobcuts:
• all 48 employees cut as Beiderman Kelly Krimstein & Partners closes in NYC
• all 20 employees jobless as Pagano Schenk & Kay ad agency shuts in Boston
+ weekend ominous qikis: • profits plunge, risks rise for US economy 
• globalization's dark side - fancy coffee for us, poverty for growers
vs. weekend glimmers of timesizing
:
• Brazilian police strike for shorter workweek

7/28/2001 sat (re fri biz)
3 takeovers reported in NY Times (NYT) & BG, totaling $256m
+ 4 downsizings, totaling 6440 jobcuts, reported in NYT & Boston Globe (BG):
• 11% workforce cut (4500 Japan jobs) as Fujitsu bulks up its loss projections instead of
just trimming its workweek by 11% (to five 7hr-9min days for whole firm including top
execs), re-investing pay from overtime hours in OT-targeted crosstraining - keeping
everyone together, employed, earning & spending 89% as much as usual
• 1500 German cuts at Dresdner  • 240 cuts at American Home  • 200 at Lotus in Ma.
+ omens: • GDP growth hits 8-yr low  • Bush - no defense vision or commonsense
vs. glimmers of hope:
• NYT readers talk sense on immigration
2 TIMEsizing items: - Australian gov't workers push to drop workweek from 36¼ to 35 hours
- new French jobs from workweek cut surf 'US-led' downturn & Neanderthal CEO downsizers

7/27/2001 fri
6 takeovers reported in NY Times (NYT) & BG, totaling $763m + $undisclosed
+ 8 downsizings, totaling 42,070 jobcuts, reported in NYT & Boston Globe (BG):
• 11,900 cuts at Alcatel
• 42% staffcut (8000 Canada-US jobs) as JDS Uniphase death-spirals instead of
trimming its workweek by 42% (to five 4½-hour days for whole firm including
top execs), re-investing pay from overtime hours in OT-targeted crosstraining -
keeping everyone together employed, earning & shopping 58% as much as usual
• 6000 cuts at Hewlett-Packard  • 6000 at British Telecomm  • 5000 German cuts at
Infineon Technologies  • 5000 cuts at Avaya  • 140 at RealNetworks  • 30 at Gruntal
+ 1 bankruptcy: • Essential.com goes Ch.11, trustee calls for Ch.7 due to $2.8m debt
+ omens: • death spiral = slow economy depresses wages & spending, slows economy
vs. glimmers of hope:
• tax shelter involving capital gains disallowed  • strict standards on Mexican trucks

7/26/2001 thu
6 takeovers reported in NY Times (NYT) & BG, totaling $3.21B + $undisclosed
+ 6 downsizings, totaling 7,536 jobcuts, reported in NYT & Boston Globe (BG):
• 9% additional workforce cut (3650 mostly US jobs) as Corning joins $B-loss club,
instead of just trimming its workweek by 9% (to five 7hr,17min days for whole firm
including top execs), re-investing pay from overtime hours in OT-targeted crosstraining
- keeping everyone together employed, earning & shopping 91% as much as usual
• 1500 more cuts at DuPont  • 1444 LatAm cuts at Banco Santander  • 587 cuts at i2
Technologies  • 300 at Bethlehem Steel  • 55 as Warwick Baker O'Neill closes
vs. glimmers of intelligence:
• global warming - sue the biggest polluter now!
• 1 UPsizing: Fidelity opens Veritude, temp agency with so far 2700 new but temp jobs
1 TIMEsizing item: welcome to 1940 - S.Korea to cut govt workweek from 44 to 40 hours by 2003

7/25/2001 wed
4 takeovers reported in NY Times (NYT) & BG, totaling $$undisclosed
+ 5 downsizings, totaling 34,235 jobcuts + ??, reported in NYT & Boston Globe (BG):
• 25% more workforce cut (20,000 mostly US jobs) as Lucent erstwhile telecoms
giant continues self-fueled death spiral, instead of just trimming its workweek by
25% (to 30-hour workweek for whole firm including top execs), re-investing pay
from overtime hours in OT-targeted crosstraining - keeping everyone together
employed, earning & buying 75% as much telecom stuff as usual
• 12,000 worldwide cuts (8%) at ABB e-engineering of Geneva  • 1,340 UK cuts (7%) at
Reuters  • 560 worldwide cuts (4%) at Snap-on tools  • 335 Iowa cuts as International
Paper packaging closes plant  • unspecified Ma. cuts (16%) at MKS Instruments
+ omens: • Paul Krugman nails Greenspan & Dubya's S/S reform for doubletalk
vs. glimmers of hope:
• 1 UPsizing: Soka University of America, new college in Calif.
2 TIMEsizing items: - new reason: cut workday from 14 to 8 hours save species (here, crabs)
- MKS Instruments in Ma. holds the line at 16% layoffs by implementing reduced workweeks

7/24/2001 tue
no downsizings
but
7 layoff-inducing takeovers reported in NY Times (NYT) & BG, totaling $6.36B
vs. glimmers of hope:
• 1 UNtakeover: Allegheny Energy plans to split in 2
1 TIMEsizing item: "Schor'ed up" - emerita Carolyn Bell starts shaking off economist's time blindness

7/22-23/2001
weekend roundup per the NY Times and the Boston Globe:
• 41 takeovers reported this week, worth over $23.29 billion
• 24 downsizings reported this week, costing over 23,023 lost jobs
• 2 bankruptcies  • 1 suicide

vs. 7 TIMEsizing stories + 2 UPsizings (500+ new jobs) + 0 UNtakeovers ($0)
< YTD:736 dnsz (832411 jbcts) +898 takv($552B) +133 bkrp vs. 177 timsiz +76 upsz (43819+=5%) +36 untk ($103B+)>
weekend glimmers of hope
:
• 1 weekend UNtakeover - Intelsat fully privatizes from semi-governmental status
• "good, but..." - demand, need grow for skills training, but 12,000 on waitlist for Mass. program

7/21/2001 sat (re fri biz)
- CEOs rest from downsizing their own markets -
no downsizings, reported in NYT & Boston Globe (BG)
but 5 takeovers reported in NY Times (NYT) & Boston Globe, totaling $5.4B
+ 1 work-related suicide: • Heinz Prechter, ASC Inc. (née American Sunroof Corp.)
+ omens: • more support for Nader & his "no difference between the major parties"
vs. glimmers of intelligence:
• NY Times hilites Thomas Kuhn -
"there's no such thing as scientific objectivity - only specifiably extended scientific subjectivity"

7/20/2001 fri
11 takeovers reported in NY Times (NYT) & Boston Globe, totaling $1.34B
+ 5 downsizings, totaling 790 jobcuts, reported in NYT & Boston Globe (BG):
• 450 Ala., Minn. & Wash. jobcuts as K2 Inc. moves jobs from US to China
• 33% workforce cut (220 jobs) as StorageNetworks data storage quadruples its
revenues & fixes something that isn't broken, instead of just trimming its workweek by
33% (to four 6hour42min days for whole firm including top execs), re-investing pay
from overtime hours in OT-targeted crosstraining - keeping everyone together
employed, earning & buying 67% as much data storage as usual
• 45 Calif. cuts at W. R. Hambrecht & Co. online brokers in San Francisco 
• 40 NH cuts at Spike Broadband  • 35 Ma. cuts at Gotham Networks
+ omens: • Nortel posts 19.4B loss - one of biggest in biz history
• state jobless up 50% in Ga.  • Social Security dry by 2038
• 1/3 of workforce lack basic skills in Massachusetts
vs. glimmers of TIMEsizing:
• FAA to fine American for pilot rest violations
• 3 Japanese chipmakers grant extra vacation time to avoid layoffs

7/19/2001 thu
2 takeovers reported in NY Times (NYT) & Boston Globe, totaling $116m
+ 8 downsizings, totaling 11,079 jobcuts, reported in NYT & Boston Globe (BG):
• 6600 jobcuts as junk bonds cut American Express revenues
• 13% workforce cut (1650 jobs) as Safeco insurance does self-mutilation reorg, instead of
just trimming its workweek by 13% (to five 6h58m days for whole firm including top
execs), re-investing pay from overtime hours in OT-targeted crosstraining - keeping
everyone together employed, earning & buying 87% as much insurance as usual
• 1600 RI cuts at Textron aircraft  • 1000 cuts at Albertson's supermarkets way out west 
• 148 at Harrah's New Orleans Casino  • 40 at Eprise in Ma.  • 23 at Gensym in Ma. 
• 18 as Cipriani Kremer Design closes in Boston
+ omens: • tax cheating up • economy down • Greenspan strains for hope  • Prudential
pushes to loot policyholders  • Bush pushes to trash ABM treaty but NYT calls him
radical  • Bush fights global warming treaty but NYT calls him clueless
vs. glimmers of hope:
• 2 UPsizings: - Citizens Bank adds 500 jobs in RI
- BMW socks $860m into new 28%-subsized Leipzig plant
3 TIMEsizing items: - med students want cut to 80-hr week
- Cathay Air pilots keep up pressure for shorter work schedules
- Hynix stretches "timesizing" with 6-mon plant idling while Fujitsu stays open with 40% output cut

7/18/2001 wed
5 takeovers reported in NY Times (NYT) & Boston Globe, totaling $313.7m + $??
+ 9 downsizings, totaling 10,954 +?? jobcuts, reported in NYT & Boston Globe (BG):
• 4000 jobcuts at Royal Philips Electronics as American slowdown spreads to Europe
• 3% staff cut (2000 jobs) as Coca-Cola Enterprises bottling loses a revenue-per-case
war with Pepsi Bottling, instead of just trimming its workweek by 3% (14 mins/day for
whole firm including top execs), re-investing pay from overtime hours in OT-targeted X-
training - keeping everyone employed, earning & drinking 97% as much Coke as usual
• 1900 more cuts at Merrill Lynch  • 1600 at Knight Ridder  • 500 more at Schwab  • at
least 500 coffee jobs lost in Nicaragua  • 450 cuts at Parametric Tech  • 4 jobs lost (100%)
as Favara & Raffle ad agency closes in NYC  • unspecified cuts at SKF in Sweden
+ 1 bankruptcy: • Schwinn bicycles tips over, sells out to Huffy
+ omens: • US to other economies, 'do as I say & not as I do'
vs. glimmers of TIMEsizing:
• UMass Memorial Health Care reduces hours of 6 employees to reduce layoffs
• survey: over 1/3 of Canada's female execs regularly consider quitting to find shorter workweeks

7/17/2001 tue
14 takeovers reported in NY Times (NYT) & Boston Globe, totaling $16.119B + $??
+ 2 downsizings, totaling 200 +?? jobcuts, reported in NYT & Boston Globe (BG):
• 10% workforce cut (100 jobcuts) as Comdisco computer leasing files for Chap. 11,
instead of just trimming its workweek by 10% (48 mins/day for whole firm including top
execs), re-investing pay from overtime hours in OT-targeted retraining & cross-training
- keeping everyone employed, earning & leasing 90% as many computers as usual
• unspecified jobcuts as Schweitzer-Mauduit Int'l exits uncoated-papers biz in Brazil
+ omens: • slippage on workhours & standards - this time, oiltruck drivers
+ 1 bankruptcy: • Comdisco
vs. glimmers of TIMEsizing :
• Rogers Corp. of Rogers, Conn. lowers operating costs with
shorter workweeks at some company facilities to combat sales slowdown

7/15-16/2001
weekend roundup per the NY Times and the Boston Globe:
• 30 takeovers reported this week, worth over $9.56 billion
• 27 downsizings reported this week, costing over 25,585 lost jobs
• 2 bankruptcies  • 1 suicide

vs. 7 TIMEsizing stories + 5 UPsizings (7025+ new jobs) + 5 UNtakeovers ($26B+)
< YTD:712 dnsz (809388 jbcts) +857 takv($529B) +131 bkrp vs. 170 timsiz +74 upsz (43319+=5%) +36 untk ($103B+)>
no downsizings reported this weekend
but 4 takeovers reported, worth $??
vs. weekend glimmers of hope
:
• tech jobs for highly skilled abound (but hiring is slowing & still, burden of training is on job candidate)

7/14/2001 sat (re fri biz)
but 1 downsizing, totaling 100 jobcuts, reported in NYT & Boston Globe (BG):
• 22% workforce cut (100 Ore. jobcuts) as MedicalLogic/Medscape software panics
instead of just trimming its workweek by 22% (five 6¼-days for whole firm including top
execs), re-investing pay from overtime hours in OT-targeted retraining & cross-training -
keeping everyone together, employed, earning & spending 78% as much as usual
+ omens: • the trash running US is trashing national security & 30-40 yrs of peacemaking
• it's also supporting deadend fuels (but rest of world supports nonpolluting ones)
• it also won't bail out Argentina (but with timesizing they wouldn't need our toxic help)
vs. glimmers of intelligence:
• 1 UPsizing: GAB Robins Group opens office in Beijing
1 TIMEsizing item: issue of workweek reduction starts to heat up in Taiwan

7/13/2001 fri
- there is a plague sweeping capitalism & it is administered by our own CEOs -
8 takeovers reported in NY Times (NYT) & Boston Globe, totaling $2.96B + $?
+ 7 downsizings, totaling 5,140 +?? jobcuts, reported in NYT & Boston Globe (BG):
• 4,000 more US jobcuts by Motorola 
• 5% workforce cut (429 US jobcuts) as Dow Jones freaks over ad slump, instead of
just trimming its workweek by 5% (24 mins/day for whole firm including top execs),
re-investing pay from overtime hours in OT-targeted retraining & cross-training -
keeping everyone together, employed, earning & spending 95% as much as usual
• 328 jobcuts (33%) at Earl Scheib Inc.  • 160 cuts at Fidelity Investments
• 112 cuts at RSA Security  • 111 cuts (15%) at Forrester Research 
• unspecified cuts as HomeRuns.com ends its game
+ 1 bankruptcy story: • Dems too want toughen laws as bankruptcies hit record &
slump - 1.4m in 98, 1.3 in 99, 1.2 in 2000, but up 17½% in 1Q01
+ omens: • retail down  • unemployment up
vs. glimmers of intelligence:
• 1 UPsizing: Interpublic forms new rate unit
• 1 UNtakeover: Deutsche Bank cans sale of Morgan Grenfell unit to mgmt group
1 TIMEsizing item: Volkswagen timesized from 35 hrs/wk to 28.8 in 1993 to save
30,000 jobs in headquarters town (but still doesn't "get" it & wants to roll it all back)

7/12/2001 thu
2 takeovers reported in NY Times (NYT) & Boston Globe, totaling $115m + $?
+ 4 downsizings, totaling 2,610 +?? jobcuts, reported in NYT & Boston Globe (BG):
• 2000 US jobcuts by HomeLife Furniture 
• 1% workforce cut (360 jobcuts) as Carlson travel
exacerbates slowdown in biz trips, instead of just trimming
its workweek by 1% (5 mins/day for whole firm including top execs),
re-investing pay from overtime hours in OT-targeted retraining & X-training -
keeping everyone together, employed, earning & spending 99% as much as usual
• 250 UK jobcuts (20%) at Psion  • unspecified cuts as Aetna closes some H.M.O.s
+ 1 work-related suicide: • patronage jobster in NJ's poorest city shoots ex-pal & self
+ omens: • the R-word - yesterday Singapore, today Argentina
• whose fault is ailing global economy? - Syre & Stein say "ours"
• today's homeshore drama = Emerson Electric, 1st profit drop in 43 yrs
• another warning on shrinking budget "surplus" (with implications for taxcut)
vs. glimmers of intelligence:
• 1 UNtakeover: Cabletron plans to dissolve into spinoffs
• German Cabinet proposes toughening path for hostile takeovers
• Wisconsin court tells deadbeat with 9 kids, "Quit spawning or JAIL!"
• Hawaii Legislature tells Gov, "We want same age of consent as rest of states!"

7/11/2001 wed
- downturns aren't mysterious 'acts of God' - CEOs create them -
7 takeovers reported in NY Times (NYT) & Boston Globe, totaling $4.8B + $??
+ 4 downsizings, totaling 2,595 jobcuts, reported in NYT & Boston Globe (BG):
• 2.6% work force cut (1500 more jobcuts) as Compaq continues panic over declining
sales, instead of just trimming its workweek by 2.6% (12½ mins/day for whole US unit
including top exex), re-investing pay from overtime hours in OT-targeted retraining &
cross-training - keeping everyone employed, earning & spending 97.4% as much as usual
• 700 Danish jobcuts by American Power Conversion  • 335 Ma. cuts by Shaw's
• 60 jobs tossed in the air as Saks shuts Palm Springs, Calif. store
+ omens: • inventories rising - Great Depression déjà vu 
• Singapore uses the R-word (r-e-c-e-s-s-i-o-n)
vs. glimmers of hope:
• 2 UNtakeovers: - UK blocks Lloyds TSB's $26B bid for Abbey National
- Sulzer spins off Sulzer Medica   • Circuit City tunes up its poison pill dispenser
1 TIMEsizing item: FAA supports pilots vs. airline lobby on limiting their working hours

7/10/2001 tue
- CEOs return to seriously deepening the downturn -
12 takeovers reported in NY Times (NYT) & Boston Globe, totaling $1.67B + $??
+ 10 downsizings, totaling 15,140 jobcuts, reported in NYT & Boston Globe (BG):
• 48% work force cut (8100 lost US jobs) as Alcatel gets hysterical about slumping sales,
instead of just trimming its workweek by 48% (to four 5.2-hour workdays for whole US
unit including top exex), re-investing pay from overtime hours in OT-targeted retraining &
cross-training - keeping everyone employed, earning & spending 52% as much as usual
• 2300 jobs in limbo as ConAgra fails to rebuild N.J. plant burnt down at Xmas  • 2000
casualties as Webvan folds  • 1300 cuts as steelworkers make kamekazi pact with LTV 
• 1000 cuts at Corning  • 225 at Donnelly Corp.  • 80 at Nashua Corp.  • 50 at Individual
Investor mag  • 49 at Cathay Pacific  • 16 at Wall St Journal
+ 1 bankruptcy reported: • Webvan online grocer 
vs. glimmers of hope:
• 1 UPsizing: Ammirati execs open new agency
1 TIMEsizing item: Conexant Systems uses 4-day weeks to avoid more layoffs

7/08-09/2001
weekend roundup per the NY Times and the Boston Globe:
• 29 takeovers reported this week, worth over $10.31 billion
• 13 downsizings reported this week, costing over 16,639 lost jobs
• 3 bankruptcies

vs. 4 TIMEsizing stories + 1 UNtakeover ($??)
< YTD: 685 dnsz (783603 jbcts) +827 takv($519B) +129 bkrp vs. 163 timsiz +69 upsz (36294+=5%) +31 untk ($77B+)>
1 takeover reported this weekend, worth $17.5m
+ 1 downsizing reported this weekend, totaling 300 worldwide jobcuts:
• 13% of staff laid off (300 employees) as Heidrick & Struggles (we are not making this
up!) exec headhunters hysterically "adjusts to current economic conditions" instead of just
trimming its workweek by 13% (to five 6h38m workdays for whole firm including its own
top execs) & keeping everyone together, employed, earning & spending 87% of normal
vs. weekend glimmers of hope
: • 2 weekend UPsizing stories
- 7000 new jobs at EDS this yr & 25 to come at Finnegan Henderson
• 1 weekend UNtakeover - AT&T spins off AT&T Wireless to shareholders
• 3 timesizing items: - under 35-hr week, French exchange hours for vacation days
- go ahead, take a vacation, "The French do it better" says an American in Provence
- Norway beats all in shortest workyear, France is fifth, USA is last with the longest, just like 3rd World!

7/7/2001 sat (re fri biz)
4 takeovers reported in NY Times (NYT) & Boston Globe, totaling $$undisclosed
+ 1 downsizing, totaling 3800 jobcuts, reported in NYT & Boston Globe (BG):
• 3800 jobcuts as AOL Time Warner closes all 120 Warner Bros. retail stores
+ omens: • now Prezadunce Shrub wants scrub nuke testban that we worked decades for 
vs. glimmers of TIMEsizing:
• workweek reduction is happening anyway, with a growth in part-time - but not the best way
• Philippine mfrs trying to avoid layoffs with shorter hours & rotating employees through fewer shifts

7/06/2001 fri
7 takeovers reported in NY Times (NYT) & Boston Globe, totaling $1.17B
+ 2 downsizings, totaling 750 jobcuts + ??, reported in NYT & Boston Globe (BG):
• 500 Massachusetts jobcuts at post-merger UMass Memorial hospital
• 250 + unspecified cuts at Baltimore Technologies in Ireland
+ 1 bankruptcy reported: • Broadband2Wireless 
+ omens: • gov't red ink rising 
vs. glimmers of hope:
• mixed marriages gaining acceptance

7/05/2001 thu
1 "Fourth" takeover cited in NY Times (NYT) & Boston Globe, totaling $1.1B
+ 2 downsizings, totaling 9,500 jobcuts, reported in NYT & Boston Globe (BG):
• 13½% work force cut (7,000 jobs lost worldwide) as Marconi telecomms gets
hysterical about slumping sales, instead of just trimming its workweek by 13½%
(to five 6h55m workdays for whole unit including top execs), re-investing pay
from overtime hours in OT-targeted retraining & cross-training - keeping
everyone employed, earning & spending 86½% as much as usual
• 2,500 worldwide cuts at Siemens Business Services unit
+ omens: • economic booms spawn lobbyists? - yuk!
• living wage cul-de-sac traps another progressive
vs. glimmers of hope:
• Euro parliament rejects pro-takeovers bill 
• Pentagon pressed to cut 5-10% of budget (but only to buy hi-tech weapons)
2 TIMEsizing items: - Air Canada urges staff to voluntarily reduce working hours
- VW wants a workweek max of 42.5 hrs, but union wants 35 to guard existing 28.8

7/04/2001 wed
- happy Independence Day & belated happy Canada Day (1/7) -
6 takeovers cited in NY Times (NYT) & Boston Globe, totaling $1.7B + $??
+ 3 downsizings, totaling 1290 jobcuts, reported in NYT & Boston Globe (BG):
• 2600 German cuts at Deutsche Bank • 750 more US cuts at IBM • 12 at Mintz Levin
vs. glimmers of hope:
• 1 UNtakeover: Kingfisher spins off Woolworth's in UK
• 2 UPsizings: 10,000 new jobs this yr @ IBM, 190 @ Mintz Levin
• factory orders rose 2.5% in May (but only after dropping 3.4% in April)
• savoring life shouldn't be hard (but when being busy equates to being important...)

7/03/2001 tue
9 takeovers reported in NY Times (NYT) & Boston Globe, totaling $5.76B + $??
+ 4 downsizings, totaling 1290 jobcuts +??, reported in NYT & Boston Globe (BG):
• 1% workforce cut (750 US jobs lost) as IBM Global Services gets self-destructive
in response to changing client demand, instead of just trimming its workweek 1%
(5 mins/day for whole unit including top execs), re-investing pay from overtime
hours in OT-targeted retraining & cross-training - keeping every-
one employed, earning & spending 99% as much as usual
• 390 Mass. cuts at Sapient  • 150 N.H. cuts as Textron sells factory assets
• unspecified Mich. cuts as Foster & Gallagher seeks bankruptcy
+ 2 bankruptcies reported: • Metricom  • Foster & Gallagher
vs. glimmers of hope:
• Brady Bill stopped crooks from getting 100,000s of guns 
• seizing drunks' cars drops NYC fatal accidents with drunk drivers 28%

7/01-02/2001
- beginning our third year (fifth half-year) of reporting -
weekend roundup per the NY Times and the Boston Globe:
• 36 takeovers reported this week, worth over $22.5 billion
• 28 downsizings reported this week, costing over 20,127 lost jobs
• 3 bankruptcies with $3.5B+ debt,  & 1 story each on
• makework  • homelessness &  • suicide

vs. 5 TIMEsizing stories + 2 UPsizings (5+ new jobs) + 1 UNtakeover ($??)
< YTD: 672 dnsz (766964 jbcts) +798 takv($509B) +126 bkrp + 10 homlss + 25 prisn + 12 suic
vs. 159 timsiz +67 upsz (26104+=3%) + 30 untk ($77B+) + 7 mkwrk (100000+ new 'jobs') >

< 7-12/2000:  389 dnsz (331,254+  cuts) +1037 takov ($868B+) + 131 bkrp + 9 homlss + 26 prisn + 10 suic
vs. 13 timsizings + 64 upsz (42,021+=13%) +59 untk ($4B+) + 0 mkwrk >

fiscal-year roll-up
= 12-mon roll-up, based on NYT & BG, jul/2000-jun/2001, our 2nd year of tracking:
172 timsizng (?? new or sav'd jobs) + 131 upsizngs (68125+ new jobs) + 7 makwrk (100,000 new 'jobs')
total 168125 = 15% of cuts VERSUS 1061 dnsz (1098218+ cuts) + 1835 takv ($1377B) + 257 bkrp + 19 homlss + 51 prisn + 22 suic

1 downsizing reported this weekend, totaling 9 US dismissals:
• 9 Va. employees dismissed as University of Virginia Medical Center scapegoats people
with records for its retention of an accused rapist 2 wks after first accusation
+ 2 takeovers reported this weekend, worth $578m
vs. weekend glimmers of hope
:
• 1 weekend UNtakeover - United drops US Airways grab
• 1 weekend UPsizing report with ?? new jobs - Inter-Tribal Bison Coop gets money for Native Americans via Congress from tax-paying descendants of those who nearly wiped them out to help spread & grow their 8500-strong herd across 16 states
• China's chief urges intake of capitalists into Communist Party
• NY welfare commissioner claims state can pick up cases feds drop


Click here for dooms du jour in -
June/2001
May/2001
Apr/2001
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Aug-July/99.
Jun-May/99.
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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