Downsizing

Wiley cuts at least 70 Indy employees in restructuring

September 30, 2013
Kathleen McLaughlin
John Wiley & Sons Inc., publisher of the "For Dummies" series, has sent dozens of local jobs to foreign markets as it tries to save $80 million company-wide.
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Spurned Indy continues to court manufacturing

August 17, 2013
Anthony Schoettle
Indianapolis is losing manufacturing jobs at a steady, some would say alarming, rate. And the Circle City is not alone, as many metro areas face serious challenges in retaining and attracting manufacturers.
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Unemployment benefit requests jump again

September 15, 2011
Associated Press
The number of people applying for unemployment benefits jumped last week to the highest level in three months, another sign that the job market remains depressed.
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State unemployment rate climbs back to 10 percent

May 21, 2010
Indiana unemployment figure hits double digits in April for the first time since September, showing how volatile the job market remains.
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Weather blamed for unexpected rise in jobless claims

February 25, 2010
Associated Press
New claims for unemployment benefits jumped unexpectedly last week, mostly because state agencies processed a backlog of claims caused by snowstorms the previous week.
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Columbia City plant to close, nixing 135 workers

February 12, 2010
 IBJ Staff and Associated Press
Fort Wayne Foundry Corp. will shutter the auto parts factory for the second time in a year, as its jobs head to Mexico, according to a union official.
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Lilly reorganization to cut 5,500 positions over 2 years

September 14, 2009
J.K. Wall
Eli Lilly and Co. will cut 5,500 jobs by the end of 2011 as it tries to cut $1 billion in expenses before it loses revenue from its bestselling drug, Zyprexa. Lilly CEO John Lechleiter said he did not know how many of those cuts would occur in central Indiana. But with 13,600 employees working in the Indianapolis area, he acknowledged the largest chunk of reductions likely would come here.
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Lilly offering buyouts to 4,000 sales reps

August 4, 2009
Indianapolis-based Eli Lilly and Co. today said it is offering buyouts to its U.S. sales force, with hopes of trimming about 300 sales representatives before a sales restructuring set to begin in January, Reuters reported.
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Boomtown on hold: Recession delays Honda's full impact on GreensburgRestricted Content

June 22, 2009
Kathleen McLaughlin
Jobs created by the new manufacturing plant have been offset by losses elsewhere in the community, and related development remains scarce. But local officials remain optimistic about Honda's long-term impact.
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Churches look for ways to pay off construction projects planned before recession took toll on collection platesRestricted Content

May 25, 2009
Kathleen McLaughlin
In Indianapolis and around the country, congregations that expanded before the recession are now taking drastic measures, including budget cuts that have resulted in layoffs, salary reductions and giving less to charities.
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CIB executive director out-earns governor, mayor combinedRestricted Content

May 18, 2009
Cory Schouten
Barney Levengood, executive director of the financially-struggling Capital Improvement Board, is one of the state's highest-paid public employees, and some wonder if his pay should be cut.
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With pharma famine looming, Lilly relying on snack-size dealsRestricted Content

May 4, 2009
J.K. Wall
Compared with some of his pharmaceutical CEO peers these days, John Lechleiter has his company on a diet. Instead of using a mega-merger to bulk up before the famine that patent expirations will bring on the industry next year, Lechleiter has Eli Lilly and Co. burning management fat while looking for smaller companies to munch on.
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Lauth, a once-booming developer, has sliced 90 percent of work force, lost control of some propertiesRestricted Content

April 20, 2009
Cory Schouten
Struggling developer Lauth Group Inc. has cut about 90 percent of its staff and lost control of part of its portfolio to a major equity partner-developments that raise doubts about whether the locally based company can survive the recession.
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Simon layoffs would jeopardize HQ incentive dealRestricted Content

April 20, 2009
Cory Schouten
During one of the worst markets for real estate in decades, at a time when developers of all sizes are shedding employees, officials with Simon Property Group Inc. continue to insist they have had zero layoffs.
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GM workers hesitate to bite at buyout baitRestricted Content

February 16, 2009
Kathleen McLaughlin
GM workers must decide by March 24 whether to take a buyout, but the lack of jobs due to the recession coupled with the cost of health care makes their decision especially difficult.
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Let's strive to keep companies hereRestricted Content

February 2, 2009
Don't lose sight of viable businesses in your own backyard.
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Powerway lays off 14 after losing software deal with ChryslerRestricted Content

June 16, 2008
Cory Schouten
Locally based Powerway Inc. is scrambling to shrink its work force and remake its business plan after the firm's most lucrative customer--the ailing automaker Chrysler LLC--said it will no longer use Powerway software or mandate its use among the company's hundreds of suppliers. Powerway laid off 14 employees and slashed salaries for many who remain after it learned of Chrysler's plans on June 6.
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Displaced older workers abandon hopes of landing similar workRestricted Content

September 3, 2007
Ed Callahan
A growing percentage of men and women nationwide are reaching a career crossroads at a time when most would hope to have it made. Almost a quarter of the 3.8 million Americans displaced from their jobs from 2003-2005 were 55 or older, according to the U.S. Bureau of Labor Statistics, up from 21 percent in the prior three years.
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Auto-job slide acceleratingRestricted Content

March 19, 2007
Peter Schnitzler
Indiana's automotive manufacturing employment for the last decade peaked at 142,000 in 1999. Since then, the sector has shed 20,300 jobs-a staggering one-seventh of its total. Another 5,220 are slated to be cut soon. And there's no end in sight.
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  1. Aaron is my fav!

  2. Let's see... $25M construction cost, they get $7.5M back from federal taxpayers, they're exempt from business property tax and use tax so that's about $2.5M PER YEAR they don't have to pay, permitting fees are cut in half for such projects, IPL will give them $4K under an incentive program, and under IPL's VFIT they'll be selling the power to IPL at 20 cents / kwh, nearly triple what a gas plant gets, about $6M / year for the 150-acre combined farms, and all of which is passed on to IPL customers. No jobs will be created either other than an handful of installers for a few weeks. Now here's the fun part...the panels (from CHINA) only cost about $5M on Alibaba, so where's the rest of the $25M going? Are they marking up the price to drive up the federal rebate? Indy Airport Solar Partners II LLC is owned by local firms Johnson-Melloh Solutions and Telemon Corp. They'll gross $6M / year in triple-rate power revenue, get another $12M next year from taxpayers for this new farm, on top of the $12M they got from taxpayers this year for the first farm, and have only laid out about $10-12M in materials plus installation labor for both farms combined, and $500K / year in annual land lease for both farms (est.). Over 15 years, that's over $70M net profit on a $12M investment, all from our wallets. What a boondoggle. It's time to wise up and give Thorium Energy your serious consideration. See http://energyfromthorium.com to learn more.

  3. Markus, I don't think a $2 Billion dollar surplus qualifies as saying we are out of money. Privatization does work. The government should only do what private industry can't or won't. What is proven is that any time the government tries to do something it costs more, comes in late and usually is lower quality.

  4. Some of the licenses that were added during Daniels' administration, such as requiring waiter/waitresses to be licensed to serve alcohol, are simply a way to generate revenue. At $35/server every 3 years, the state is generating millions of dollars on the backs of people who really need/want to work.

  5. I always giggle when I read comments from people complaining that a market is "too saturated" with one thing or another. What does that even mean? If someone is able to open and sustain a new business, whether you think there is room enough for them or not, more power to them. Personally, I love visiting as many of the new local breweries as possible. You do realize that most of these establishments include a dining component and therefore are pretty similar to restaurants, right? When was the last time I heard someone say "You know, I think we have too many locally owned restaurants"? Um, never...

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