Photo courtesy of Surviving Economic Loss
In what feels like a daily report, more workers in Minnesota are facing immediate or potential layoffs during the holiday season. We just try to spread the holiday cheer, but the economy makes everything so gloomy.
The deficit at Minnesota Public Radio could hit $2 million for the fiscal year that started in July, MinnPost reports
MinnPost says that isn't so bad compared to other media outlets:
Not if you're a newspaper or TV station; on the high side, the shortfall represents a bit under 3 percent of APM/MPR's $70 million budget. That qualifies as a great year in the media world right now.
If cuts are applied evenly across departments -- and I'm hearing they could come just before or after the holidays -- MPR's newsroom could lose $150,000 or so.
Select Comfort employees got some bad news too. The company is cutting 22 percent of their employees at their headquarters in Plymouth, the Minneapolis-St. Paul Business Journal reports
Select Comfort Corp. announced Tuesday it is laying off 120 workers, or roughly 22 percent of the work force at its Plymouth headquarters.
The layoffs are part of a broader cost-cutting initiative "in response to further slowing of sales after Thanksgiving and in anticipation of continued macro-economic challenges in 2009," the bed retailer said in a statement. The company is best known as the creator of the Sleep Number bed.
Minnesota nonprofits are also feeling the crunch, the Star Tribune says
One in four Minnesota nonprofit agencies have cut staffing this year, and nearly half have slashed their budgets in response to the growing economic crisis, according to a survey released today by the Minnesota Council of Nonprofits.