Forward by Ramana
Nov. 17: Citigroup raises the interest rates on its credit cards and cuts 53,000 jobs.
Nov. 14: Computer network builder Sun Microsystems hopes to save $800 million a year with a 6,000-person reduction in workforce.
Nov. 13: United States Steel pink-slips 675 workers (2% of its staff). Stock down 80% from July to November.
Nov. 12: Las Vegas Sands is putting several billion-dollar Macau-based projects on hold. As many as 11,000 workers will be laid off.
Nov. 12: Morgan Stanley announces 2,000 job cuts. This includes a 10% cut in the company’s institutional securities group and a 9% cut in its asset-management group.
Nov. 12: Liberty Media’s home shopping channel QVC announces a 910-worker layoff.
Nov. 12: Cessna Aircraft, a subsidiary of conglomerate Textron , fires 665.
Nov. 10: General Motors lays off 1,900 employees from its powertrain and stamping division. An additional 3,600 assembly employees were already getting pink-slipped.
Nov. 7: Ford Motor cuts 2,600 hourly employees in the U.S.
Nov. 6: Toy producer Mattel announces 1,000 job cuts globally in preparation for a tough holiday season.
Nov. 6: Five-year-old Atlantic City establishment the Borgata Hotel Casino and Spa–a joint venture between Boyd Gaming and MGM Mirage –sacks 400 employees.
Thursday, November 20, 2008
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