Boston teachers may be in trouble

Teachers looking for a Boston job may need to reconsider. Currently, teachers' union are having problems with Mayor Tom Menino. In order to save money, the mayor is requesting that teachers agree to keeping their wages the same.

“Without a wage freeze, these people will be eliminated. It’s as simple as that,” Menino said. If the union gives up their their right to a salary increase it could save Boston $18.8 million.

Menino is threatening to layoff 212 teachers and assistants if they don't agree to freeze their wages.

According to the Boston Herald, hundreds of city employees, including teachers, could be affected if they don't agree to the freeze. The city is $131 million in debt.

In addition to the freeze, the Boston Globe reports that the Boston School Committee authorized a $812 million budget for next year. This could result in layoffs in more than 500 positions, including teachers. This is a 2.5 percent decrease from this year's spending. Not only is the city laying off staff, but six schools will be closing.

Finding a Jobs in Boston

Finding a job in Boston couldn't be and easier for a recent college graduate. The state is filled with renowned, well know schools close to or in Boston. These schools offer great opportunities and in return the city has job opportunities.

According to the Boston Globe, the city is a "brain Mecca". A strongly educated work force is prided here, whether they come from the local colleges or are forced here. Boston may not be as bad off as other cities. Jobs are well paid, therefore the economy in the area is up.

Need advice? Go on to BostonJobs.com, see whats out there. If you have a strong education, want to live in a nice place (if you're not living there already), and desire a good salary in this poor economy... Boston is the answer.

Boston Jobs Affected By Baystate Health Announcement

According to a company press release, Baystate Health, New England’s largest private employer, announced plans to address the impact of the weakening economy – an impact that could affect some of the 10,000 Western Massachusetts and Boston-area healthcare jobs.

“Baystate Health is now revising its FY09 budget to adjust for the latest round of state cuts and payment shifts from the federal government, stated Keith C. McLean-Shinaman, Chief Financial Officer of Baystate Health.

The healthcare network will eliminate as many as 120 vacant positions, cut 55 administrative positions, enact a hiring freeze on non-clinical jobs, and put financing on hold for a major expansion: Baystate Medical Center’s Hospital of the Future.

Hiring will continue for clinical care positions and for those positions deemed crucial to ensure high quality patient care. “After careful review of budget realities, we needed to make the very difficult decision to reduce the size of our workforce,” said Paula Dennison, Senior Vice President of Human Resources, Baystate Health.

In a message to all Baystate Health employees, Mark R. Tolosky, President and CEO, shared an update on plans for the building project: “The Hospital of the Future is a necessity for our community and we remain committed to addressing the current and future demands for care. In light of current economic conditions, we are evaluating the timing and scope of the project to be sure our assumptions and the plans we made continue to be appropriate.”

Based on budget cuts recently imposed by the state, changes in federal payments, and declines in patient volumes, along with other negative economic factors, Baystate Health forecasts a budget gap as large as $37 million which represents 2.8% of its $1.3 billion budge. Its leaders throughout the organization are looking at every option to reduce expenses, and already have reduced or eliminated non-salary expenses wherever possible.

“We are a strong organization today because of the commitment and dedication of our physicians, clinicians, and staff and our ability to implement strategic plans while maintaining focus on our charitable mission,” commented Mark R. Tolosky, President and CEO, Baystate Health.

“Another strength is that we take action before a problem becomes a crisis. With our commitment to doing what is right for our community and maintaining high quality care, we are making critical decisions now that will allow us to meet necessary financial targets so we can reinvest in programs, services, technology, and facilities needed for our patients,” Tolosky added.

“Based on the economic outlook and continuing decline in government reimbursements, we will continue to be prudent, work to reduce expenses as needed, and ensure that Baystate Health continues to carry out our mission of bringing quality care to people in our communities now and for years to come,” said Tolosky. “Managing in this environment will be challenging for us all, and we are grateful for the individual contributions and teamwork of our employees and physicians in support of our patients,” he added.

Medical Device Company Recovering From Job Cuts in Boston

One company that cut many Boston jobs at the end of 2007 is starting to recover.

Cost and job cuts at Boston Scientific have helped the company rebound from two consecutive quarterly losses, according to an article by the Associated Press.

The company, which produces medical devices, had earned a net income of $322 million in the first quarter of the year, higher than last year's net income of $120 million. Sales decreased to $2.05 billion from $2.09 billion last year.

The company's profits so far this year come on the heels of a $272 million loss in last year's third quarter and a $458 million loss in last year's fourth quarter. This is partially attributed to Boston Scientific's acquisition of Guidant Corp. in 2006 that increased the company's debt.

The company was only able to regain some ground as it announced in October 2007 it would cut 2,300 jobs, about 8 percent of its workforce, as well as some business ties. More than half of the cuts have been completed, and the company has been able to reduce its debt by $1.7 billion to $5.8 billion.

While Boston Scientific has been recovering from major losses, it is still seeing a decrease in the stent and implanted defibrillator production, which accounts for about half of the company's sales and more than half of the company's profits.

Sales of the company's drug-coated stents fell nearly 9 percent to $428 million in this year's first quarter from $468 million. Sales of implanted defibrillators rose 3 percent in the first quarter to $411 million from $398 million.

"The latest quarter's profit was clouded by one-time charges and tax gains from the asset sales and job cuts," the article notes. "The biggest were a $114 million after-tax gain from asset sales and $143 million in after-tax amortization expense. Excluding such items, Boston Scientific's profit (in April) was $357 million, or 24 cents per share."

It was expected the company would post a second-quarter profit of 14 cents to 19 cents per share, excluding one-time items, on sales of $1.95 billion to $2.075 billion. Analysts expected a profit of 12 cents per share on sales of $2.02 billion.

Much Needed Boston Jobs for Young Adults

For high school and college students, finding Boston jobs has been difficult this summer. With the Massachusetts unemployment rate climbing form 4.9 percent in May to 5.2 percent in June, the workforce's next generation is having to compete for jobs with those who have much more experience.

Since unemployment rates do not take into account the number of individuals who are underemployed, there is no telling how many entry-level positions has been taken my adults need the income badly enough to take pay cuts. Employers naturally prefer workers with more experience and are, therefore, more likely to pass up on young people in favor of those who have a little more business know-how.

The problem with this is that teens and college students need these positions greatly in order to get a good foundation of knowledge of the workplace. Yes, many may make big mistakes on their first jobs, but it's those first mistakes that teach them how to behave in a professional setting.

In June, teen employment stood at 37.1 percent, which is a 2.5 percent decrease from the previous year and a decline of 14.3 percent from its highest point in the 1990's, said a Northeastern University's Center for Labor Market Studies expert. The teen unemployment rate, which only takes into account young adults actually searching for work, is currently at 18.7 percent. Even with rising unemployment across the nation, this figure makes the problems older members of the workforce seem less dire.

As labor-market studies professor Harry Holzer with Georgetown University in Washington recently said, times of economic instability are hardest on young people "because they are the first people to get fired and the last to get hired."

He went on to explain what demographics are hurt the most. "What's unusual is that it comes on top of a long-term trend that was already fairly negative. The long-term trend is hitting low-income and minority teenagers especially hard."

One reason that part-time jobs are particularly important for urban youth is the fact that statistics show that teens who work are less likely to be involved in violence, to join gangs or become parents before graduating.

Recently several businesses and officials have banded together to try to help out Boston's youth. John Hancock Financial Services Inc, Boston Globe Foundation and Mayor Thomas M. Menino organized a summer jobs program geared toward providing employment for teens early this year. The program, Boston Summer Scholars is able to provide young adults with jobs due to the fact that the two companies donated $1 million to create 500 jobs.

"The mayor has been very outspoken about needing summer jobs for out city's youth," said president and CEO of John Hancock John DesPrez III. "And, from a business perspective, it's important for us to have an opportunity to train our future workforce."