Nov 14 2008
The Most Depressing List Of 2008
Citigroup 35,000 jobs … budgets for employee compensation cut by at least 25 percent
Sun Microsystems plans to cut up to 6,000 jobs, or 18 percent of its global work force
BT Group will cut 10,000 jobs
Applied Materials is slashing 1,800 jobs
Circuit City is laying off about 17 percent of its domestic work force, which could affect up to 7,300 people.
Deutsche Post will cut 9,500 jobs at its DHL unit in the U.S. … on top of another 5,400 job cuts it already announced.
Nortel Networks plans to lay off 1,300 workers, nearly 5 percent of its workforce.
Motorola the telecom equipment maker will slash 3,000 jobs in a cost-cutting effort.
Ford said it would cut 2,260 white-collar workers in North America.
General Motors will also cut another 1,900 salaried jobs on top of the 5,100 announced last summer.
Fidelity Investments will start laying off about 2.9 percent of its global workforce later this month—affecting 1,288 workers in the first round.
Toy maker Mattel Inc. says it is cutting some 1,000 positions worldwide.
Goldman Sachs notified roughly 3,200 employees this week that they have been laid off.
Merrill Lynch 10,000 employees could be jettisoned as a result of the merger with Bank of America.
Bank of America expected to eliminate about 7,500 jobs.
Barclay’s plans to cut about 3,000 jobs as it brings Lehman Brothers into its fold.Â
Morgan Stanley could lay off 15 percent of its work force.
JPMorgan Chase is looking at cutting at least 10 percent and maybe 15 percent of its workforce. It has over 180,000 employees globally.
Wachovia said in August it would cut 6,950 jobs, 600 more than it had previously disclosed.
UBS said at the beginning of October it would cut another 2,000 jobs…come on top of 7,000 jobs already cut.
Credit Suisse has axed more than 1,500 jobs.
HSBC cutting 1,100 jobs.
First American cut 1,250 jobs in the third quarter, bringing the total for the year to about 2,950.
National City Corp to reduce 4,000 jobs, or 14 percent of its workforce.
Dell nearly 9,000 job cuts.
Chrysler said it was cutting about 5,000 salaried employees.
Xerox announced job cuts of 5 percent, or 3,000 positions.
Hewlett-Packard is laying off more than 24,000 employees.
Merck announced plans on Wednesday to cut 12 percent of its workforce.
Popular Inc. is cutting 600 positions and more than a quarter of its branches in the United States.
That’s nearly 200,000 jobs just in this list!
One Response to “The Most Depressing List Of 2008”
Let looks at the alternative, for those who have skills that can cross over from one industry to another; there is hope and opportunities.
Now, for those who were comfortable in their everyday routine of work, well, you’re at a loss but it’s by your own choosing.
Learning new things doesn’t stop after you finish school instead it continues and evolves as you and your environment changes.
Opportunities are everywhere.
Right now the biggest hit sector is finance, loan and banking. So if you have skills that can move into the medical, technicians,and health service, there’s a growing demand there and an opportunity for you to get involved. Another sector coming online are the Green Industries.
For a few risk takers, this is a wonderful time to start your own business. This country strength has been the small business and it’s innovative ways to serve the community.
Again, opportunity is everywhere. Try something new. Step out of your comfort zone and explore because you’ll never know until you try.