Corporate Profits in 2010 Will Yield New Hiring in 2011
A recession causes cost-cutting. Once the cost-cutting stops, the losses stop and the profits return. As the profit returns, the confidence resurfaces and the companies think about putting profit to work again by reinvesting in new hires. Our Cheat Sheet to the Psychology of Market Cycles says it all. Here’s a batch of companies crossing our radar with positive hiring news in the first couple weeks of 2011:
Alcoa (NYSE:AA) announced on January 7th it will hire 260 new employees at aluminum facilities in the U.S. AA is trading at $16.24 per share.
Dillard’s (NYSE:DDS) said at the close of 2010 it will hire 300 new jobs in central Arkansas to meet the needs of its Internet orders. DDS is trading at $39.39 per share.
Dollar General (NYSE:DG) announced at the start of the year it will hire more than 6,000 workers to meet to meet the needs of 625 new stores it will open this year. In 2010, Dollar General beat the street with $ in profits. Shares of DG are trading at $29.46 per share.
Ford (NYSE:F) said it plans to hire more than 7,000 workers in the U.S. by 2012. Under a 2007 contract, new hires will make around $14, or half the wages of veteran workers. In 2010, Ford Motor Company beat the street with $ in profits. Shares of F are trading at $18.71 per share.
Kohl’s (NYSE:KSS) announced on January 10th it will be hiring 130 employees for a new store opening in Wylie, TX. Shares of KSS are trading at $51.70 per share.
Macy’s (NYSE:M) plans to add 3,500 new employees overall when including full-time, part-time and seasonal help positions. 725 of the new jobs will be geared toward boosting its online sales division. Shares of M are trading at $23.22 per share.
Spirit Aerosystems (NYSE:SPR): plans to hire 200 new jobs for its aircraft parts manufacturing plants. SPR is trading at $22.42 per share.
Union Pacific (NYSE:UNP): the largest railroad in the U.S. plans to hire 1,000 new employees. Shares of UNP are trading at $98.08 per share.
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