More Good Layoff News............

More Good Layoff News............

01-26-2009, 08:10 PM

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hammersley

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Join Date: Jul 2000 Location: Camas, Wa USA Posts: 3,701 Old Reader's Rigs Gallery

More Good Layoff News............

Home Depot, Sprint, GM, Caterpillar and Pfizer slash jobs - Los Angeles Times

Home Depot, Sprint, GM, Caterpillar and Pfizer slash jobs

The blue-chip companies will eliminate roughly 45,000 jobs in all. Despite layoffs reports, stocks traded up about 60 points on news of Pfizer buying rival Wyeth.

By Michael Muskal

10:53 AM PST, January 26, 2009

Five blue-chip companies announced today that they are cutting their workforces by about 45,000 jobs, the latest losses to an already reeling economy.

Caterpillar, the world's largest manufacturer of construction equipment, announced that its fourth-quarter profit dropped 32%, a symptom of the worldwide economic slowdown. The drop will force the company to eliminate 20,000 jobs, about 18% of its workforce, through a combination of layoffs and buyouts, the company announced.

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