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Feb. 24, 1995: U.S. economy booms as WNY loses 1,500 jobs in two months

Even as America’s economy was booming, the first two months of 1995 were looking disastrous for Western New York’s economy.

Long-term, heritage employers such as Fisher-Price, Gioia Macaroni, Bon-Ton (previously AM&A's), Carborundum and KeyBank (previously Buffalo Savings Bank) were all closing factories or laying off employees.

"Job losses here could put area in 'mini recession' "

"IF YOU want to know what the first two months of this year have been like for the Buffalo economy, just imagine going 12 rounds with George Foreman.

"In just eight weeks, the region has been battered by announcements that five big local employers are planning major job cuts during the next few months.

"In all, about 1,485 jobs, mostly decent-paying factory and white-collar positions, now are waiting their turn on the chopping block."

25 feb 1995 buffalo's job loss mini recession

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