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Hernando Today

Job Cuts Spare County

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By TONY HOLT

Hernando Today

Published: January 28, 2009

SPRING HILL - Florida hardly was spared from the crushing news of more than 60,000 job losses, but it appears to have barely affected Hernando County, if at all.

A series of corporate powerhouses announced Monday they were about to lay off more than 60,000 members of their workforce. It was one of the worst days for an economy that has been sputtering since December 2007.

Caterpillar Inc., Sprint Nextel Corp., The Home Depot Inc. and Pfizer Inc. were among the companies to announce job cuts.

Most of them could not - or would not - break down the numbers by state, but a Caterpillar spokesman admitted the layoffs would be widespread, from the U.S. to Japan.

"Generally, we are not breaking out the specifics on a location by location basis, but it is fair to say that just about every one of the Caterpillar locations around the world will see some impact," said company spokesman Jim Dugan. "It should be noted that we have been and will continue to communicate with our employees about any changes that will impact them directly."

Caterpillar is the world's largest manufacturer and supplier of construction and mining equipment, according to its Web site.

Hernando County's lone Caterpillar dealer, Ring Power Corp. in Brooksville, has been scaling back considerably during the past two years.

The construction market has crashed in Hernando County and that has affected Ring Power. Vice President Mick Fields said the company's warehouses haven't been as packed lately.

That is typical among most Caterpillar dealers these days, he said.

"We've cut our inventory pretty drastically over the past two years," Fields said. "It's all based on customer demand. We're off by about 25 percent ... maybe more."

Caterpillar's worldwide employment totaled 112,887 in 2008. On Monday, it announced it would eliminate approximately 20,000 jobs.

A spokesman with The Home Depot said its announcement would mostly affect The Home Depot Expo. All 34 of those stores - including four in Florida - would be closed.

The nearest Home Depot Expo is in Orlando.

A spokeswoman with Sprint Nextel also said the company had not released numbers in specific markets.

The country's third-largest wireless carrier announced it made plans to cut 8,000 jobs - or 14 percent of its workforce.

Reporter Tony Holt can be reached at 352-544-5283 or wholt@hernandotoday.com.

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