Layoffs at Trail King

I'll have a story in tomorrow's newspaper (click here) about layoffs affecting 42 workers Monday at Trail King.

I'm no economist, but this seems to me like an official notice that the downturn in the national economy has finally and officially landed on our doorstep. There were signs before this, of course, but it seems like there's no denying it now. Trail King is the city's largest private, for-profit employer (the school district and hospital have more employees), so layoffs there are a big deal.

Of all the times to get laid off, this has to be the worst. Not only is it nearly Christmas, but the current cold snap means upcoming home-heating bills will be especially high.

Other companies have laid off employees or cut back on hours, too. All those layoffs and cutbacks could decrease local consumer spending, which could in turn lower the city's sales tax collections, which would in turn impact the city's ability to deliver services. To what extent any of that will happen is anybody's guess.

What's your reaction to the Trail King news? Is it a sign of worse things to come, or a sign that the economy is hitting bottom and will rebound?

Posted by: sethtupper on 12/15/2008 at 10:03 PM | Comments (12) | Permalink