Just another manic Monday.
If losing 3500 jobs from Corus was bad enough the following companies also announced job losses:
- Adams let go 267 people. They went into administration last year.
- Barrett & Priceless the shoe chains look like they are in big trouble. They employ over 5400 people. They have called in one of the big four administrators (Deloitte’s), that in itself is a big clue.
Over in the USA a total of 48000 jobs were lost today, a lot of them from big named companies:
- Caterpillar, the world’s largest heavy equipment maker announced Monday it was slashing up to 5000 jobs.
- Pfizer announced cost cuts that will include slashing about 8000 jobs.
- Sprint Nextel said it would be eliminated about 8000 positions in the first quarter as it seeks to cut annual costs by $1.2 billion.
- Home Depot said it would reduce about two percent of its associates, or about 7000 jobs.
- General Motors slashes 20000 jobs at plants in Michigan and Ohio as the recession slams sales of its vehicles.
In Europe:
- Dutch banking and insurance group ING announced 7000 job cuts.
- Philips, Europe’s largest Electronics manufacturer said it was cutting 6000 jobs globally.
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