While we were enjoying our Chinese New Year, some 80,000 people around the world, which may include someone besides you, have lost their job. And all these happen within ONE day!
Corporate bellwethers in the US and Europe on Monday slashed more than 80,000 jobs from their payrolls to confront the deepening economic downturn. US corporate groups such as Caterpillar, General Motors, Sprint Nextel. Texas Instruments, and Home Depot led the retreat, as the domestic recession coupled with tough export markets continued to take a heavy toll on their businesses. Pfizer, the drugs group, added to the tally saying jobs would be lost in its takeover of Wyeth.
Below is some lists......
IBM slashed more than 2,800 jobs.
Dutch banking and insurance group ING said it would slash 7,000 jobs.
Another Dutch company Philips announced 6,000 job losses.
Britain's largest steelmaker Corus had said it would cut 3,500 jobs.
Caterpillar cut its workforce by 20,000.
The drugs major Pfizer said it was slashing 26,000 posts.
Home Depot, laid off 7,000 workers.
Sprint Nextel, the telecom conglomerate sacked 8,000.
Texas Instruments, 3,400.
General Motors, 2,000.
Royal Bank of Scotland announced 750 job cuts.
In all, 22 of the 30 companies that make up the Dow Jones industrial average have announced job cuts since the economy nosedived in October. The unemployment rate, at 7.2 percent nationwide as of December, has reached 10 percent in some states, including Michigan and Rhode Island, the hardest hit. In Washington state, the jobless rate is 7.1 percent.
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16 years ago
