August 13, 2009 - Modern Distribution Management

August 13, 2009

Manufacturing Accounts for 31% of Mass Layoffs in 2Q

Mass layoff events reached a record high during the second quarter of 2009 with the manufacturing sector accounting for 31% of the separations, according to preliminary figures released by the U.S. Department of Labor’s Bureau of Labor Statistics. Employers initiated 2,994 mass layoff events in the second quarter of 2009 resulting in the separation of 534,881 workers from their jobs for at least 31 days.

Second quarter program highs in the number of separations were recorded in 7 of 18 major industry sectors, all four geographic regions, and fourteen states. Thirty-eight percent of employers reporting an extended layoff in the second quarter of 2009 indicated they anticipated some type of recall, down from 51% a year earlier, and was the lowest proportion of anticipated recalls for a …

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M&A Activity Falls Sharply in First Half

The pace of mergers and acquisitions continued to decline across the industrial products sectors during the first half of 2009 compared to the first half of 2008, according to a series of quarterly M&A reports released by PricewaterhouseCoopers LLP. Deal volume and value in the global transportation and logistics and industrial manufacturing industries slowed significantly in the first half of 2009 as economic uncertainties continued to dominate the global metals economy.

In industrial manufacturing, the pace of deal volume (measures by the number of deals with a disclosed value of at least $50 million) declined 71% to 26 deals in the first-half 2009. Only 12 deals were announced in the second quarter 2009, a steep drop from 47 in the prior year. Large deal activity (defined as deals …

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