Here’s one way to track the growth of the recession, including hopefully when it will be over. Keep in mind that “earnings trail the market” and that layoffs tend to happen in the final down-turn of an economy. So these layoffs, unpleasant as they are, might actually be the signs of an approaching end to this long, dark tunnel. If you can confirm other layoffs, please add them in the comments along with the number of jobs cut (versus just reduced to part-time if you know it).
Microsoft – 5,000
Intel – 5,000
Suncor
Dell
Nortel
Air Canada
Starbucks
IBM
Time-Warner – 800
Disney – 600
Harley-Davidson -1,100
Deere & Co. – 662
Ford
Boeing – 5,300
Citigroup
Mattel
Sun Microsystems
PepsiCo
JPMorgan Chase
Bank of NY Mellon
Western Union
BlackRock
Viacom
Adobe Systems
General Electric -1,000
AT&T
Staples
Target
Motorola -4,000
Merrill Lynch
Charles Schwab
Berkshire Hathaway
Bank of America – 35,000 jobs cut! (for a good reason, since many I-bankers failed us)
Procter & Gamble
3M
Dow Chemical
Caterpillar
Las Vegas Sands – 11,000 jobs cut!
Johnson Controls
Alcoa – 13,500 jobs cut!
United States Steel – 4, 225
Walgreens
Eaton – 5, 609
Hertz Global Holdings – 4,000
Xerox
ConocoPhillips
Clear Channel
Gannett
Best Buy – 500
Pfizer – 800
Google – 100
Oracle
Forbes’s Layoff Tracker indicates that at least 272, 475 jobs have been cut in the US since Nov. 1, 2008. While that’s a lot, it’s certainly not near the “millions” that we hear about in other media. I’m starting to think the upper number has been exaggerated.
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That’s just depressing! Hope your right about it being a good sign.
It’s shocking to see the amount of people that have been laid of in a short period of time. When will this ever going to end?Even when it does, how will all these people get back to work with a negative feeling. It can be a blessing in disguise for some too..Wish everyone affected all the best..