Tuesday, December 10, 2013

Kellogg's to London: No cereal for you

Frightening news for the London-area economy today, as Kellogg's, the cereal-making global giant, announced its factory here would close by the end of 2014, throwing over 500 unionized and management employees out of work.

The news comes on the heels of last month's announcement that 110 unionized workers would lose their jobs in January. 11 managers were turfed at that time, as well. The company is on a global cost-cutting and rationalization binge - which is easy enough to understand from a macroeconomic perspective, but incredibly difficult to swallow if it's your job that's just disappeared, and now you have to go home and explain it to your family.

I wrote about it for Yahoo! Canada, and the article is available here:
Kellogg’s to close Ontario plant, lay off 500 workers
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1 comment:

ifthethunderdontgetya™³²®© said...

The people with all the money keep getting more, and the rest of us keep getting less.

That's the macro picture.