Chicago Prepares For Mass Layoffs: Mayor Daley

Chicago, The City That Works is facing a new reality. Mayor Daley has been warned by CEOs to Prepare For Mass Layoffs.

CHICAGO (CBS) ― The warning is out – Mayor Richard M. Daley says a parade of corporate chief executives have told him huge layoffs are planned around the city and will carry into next year.

As CBS 2's Joanie Lum reports, when Daley made the announcement, workers around the city felt a chill, and they are wondering who will be laid off next. Full Story.

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The Axe Falls At Cessna: 665 Employees To Be Laid Off

500 Layoffs In Wichita, The Rest In Bend
Cessna Aircraft Company had some unwelcome news for employees Wednesday, two weeks before the start of the holiday season. Approximately 665 workers will soon be handed their walking papers at the planemaker's facilities in Wichita, KS and Bend, OR.

The Wichita Eagle reports about 500 workers in Wichita will receive their 60-day notices in the next few weeks, along with another 165 workers in Bend... about 1/3 of that facility's workforce. Full Story.