Monday was a doozy for economic news. In one fell swoop, several major global companies announced their plans to lay off thousands of workers. Collectively, the businesses plan to eliminate more than 65,000 jobs around the world. Economists are obviously worried about the pattern of layoffs, so now is as good of a time as any to plump up your emergency fund.
- Caterpillar: 20,000 job cuts
- Sprint Nextel: 8,000
- Home Depot: 7,000
- Pfizer / Wyeth merger: 8,000
- General Motors: 2,000 cuts in Michigan and Ohio
- Texas Instruments: 3,400
- ING: 7,000
- Philips: 6,000
- Corus: 3,500
Airness
Morgan
Sloggi
I did, i cut 20,000 jobs sorry
1I hate this.
2Wow, this is just not getting better any time soon.
3This is just terrible, people are calling it Bloody Monday.
4it;s just really scary to think about how things happen on such a large scale. i hope that the economy strengthens during the year and that more people have the opportunity to get jobs. this does not bode well for folks that are out of work. that's for sure. my fiance has been out of work since september and it's really really really hard for us right now.
5This is terrifying! What makes it so scary is that it's EVERY sector. Nothing is safe. At least in previous recessions it was certain sectors such as tech. Craziness.
6
7This is just sad and I hope that every can make it through this with their sanity in tact. I see these people in my line of work everyday.It amazing what some people will put aside just to make ends meet.
8Yeah, the layoff news was so depressing yesterday. Maybe I'm too much of a doomer, but I think this is just the tip of the iceberg. I read in USA Today that a sr economist from Wells Fargo expects 3 million more jobs to be shed in '09. It is really depressing to consider.
9Yup. Pretty much. A lot of local businesses around me closed yest too
10Scary stuff. I know my husband's company has been laying people off, but it's mostly been contractors that they've been cutting, so we're pretty sure my husband's job is safe. Plus, he's really GOOD at his job and since he's one of the few employees that can do the month-long business trips, he'll probably stay. And I'm fairly sure my job is safe because it's flu season and the hospital and clinics are packed.
11Post New Comment
Please share your opinion with our community, but make sure it is on topic and follows our Community Rules. We moderate comments and prohibit personal attacks, threats, spam, lewd images, or the promotion of your personal website.