Layoffs, layoffs, everywhere

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It seems like everywhere we turn these days, there’s news of another large employer conducting a mass layoff. The BLS reported today that in 2008 there were a total of 21,137 layoffs that involved at least 50 persons from a single employer.

Among the 21 major industry sectors, 6 registered series highs for both mass layoff events and initial claims for all of 2008: construction; transportation and warehousing; finance and insurance; real estate and rental and leasing; management of companies and enterprises; and accommodation and food services.

And it doesn’t show signs of slowing down. In the first three days of this week alone, these corporations announced their plans to slash jobs:

  • Boeing: 10,000
  • Starbucks: 6,700
  • Corning: 3,500
  • Masco:  600
  • IBM:  2,800
  • Texas Instruments:  3,400
  • Lincoln National:  540
  • Caterpillar:  20,814
  • General Motors:  9,758
  • Home Depot:  7,000
  • Pfizer:  9,800
  • Sprint Nextel:  8,000

These alone total almost 93,000 jobs. According to Forbes, America’s 500 largest public companies have laid off more than 337,000 workers since November 1, 2008.

To get the full list, check out the Layoff Tracker.

One Comment
  1. The numbers are really frightening and are certainly creating a lot of anxiety out there among the employed.

    I tried yesterday to put a positive spin on the whole thing by looking at the upside of a layoff. It’s surprising, but people I know who have been laid off are really reframing their perspectives to look for the silver lining so to speak.

    I will add your blog to the list of resources for my readers. Would love for you to look at our blog and consider listing us here.

    Marcia @ BullsEye

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