Beech Grove government bracing for budget cuts
Property-tax caps should help Hoosier homeowners save a bundle next year.
Layoffs
Articles
Recession forces Shelby County’s largest employer to cut workers
Knauf Insulation is cutting 11 percent of its work force in Shelbyville as the recession prolongs the housing downturn that
began two years ago.
Kite drops about 10 percent of its staff as retail market flounders
Kite Realty Group Trust has joined local peers Duke Realty Corp. and Lauth Group Inc. in laying off employees as it copes
with dried-up credit and a soft retail market.
Steepest job losses of recession are occurring now
Ball State University’s Indiana econometric model predicts that earnings in all of Indiana’s
major economic sectors except health care will decline in the next three months.
Indiana should brace for auto fallout
The Big Three and the United Auto Workers do not appear to be serious about making the concessions and changes that are necessary
to make them a viable entity for the long haul.
Worst auto market in 30 years might force consolidation
New car dealers, usually among the most resilient of all small businesses in weathering economic downturns, are hanging on
for dear life this time around, portending a shakeout among Indiana’s 520 dealers.
Y&L ad firm making ‘significant’ staff cuts
Young & Laramore is making what it says are “significant” staff cuts in the wake of losing the Steak n Shake account.
Indiana’s current recession may be less severe than 1982’s
With a growing labor market in Indiana, it would seem this recession, thus far, is an economic shock that may be of shorter
duration and severity than the 1982 decline.
Siegel’s NASCAR future in doubt after merger
Chip Ganassi’s NASCAR team is teaming with Dale Earnhardt Inc. where Max Siegel has served as president of global operations
since early 2007, and the former Baker & Daniels attorney may be among many laid off in the merger.
Emmis struggling to stay in good stead with lenders
Emmis Communications Corp. struggles to contain expenses and minimize debts due to radio advertising shortfalls.
ChaCha trims employees, modifies biz plan
Search engine ChaCha lays off employees, cuts perks, begins limiting its free answers to clients
Powerway lays off 14 after losing software deal with Chrysler
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.
Displaced older workers abandon hopes of landing similar work
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.
Auto-job slide accelerating
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.