Employers announce nearly 40,000 jobs cuts
In what’s being called “a rare move,” Microsoft is considering job cuts and may announce as early as next week, according to The Wall Street Journal.
Saks and Neiman Marcus Announce Layoffs
General Electric Co. said Friday its finance business has informed employees of layoffs, following up on previous statements that it would restructure the battered financial unit.
“Circuit City Stores Inc. said it is liquidating, closing all its U.S. stores and cutting 30,000 jobs after being hobbled, in part, by declining consumer spending. Rental car company Hertz Global Holdings Inc. is eliminating 4,000 jobs worldwide as families and business travelers forgo trips. Insurer WellPoint Inc. is cutting about 1,500 jobs, with rising unemployment leading to fewer people with health insurance. ”
Petroleum company ConocoPhillips said Friday it will cut about 1,300 jobs, or 4 percent of its work force.
Motorola Inc. said Wednesday it will eliminate 4,000 jobs
“Even Internet search leader Google Inc., which seemed impervious to the economy’s troubles, earlier this week said it will close three engineering offices and cut 100 recruiters. “