Bleak Monday: 42,000 Jobs Gone
It’s a rather bleak winter Monday today. At least 42,000 job cuts were announced as recently as this morning, ranging from telecom, to retail, to manufacturing at some of the largest companies out there.
- Caterpillar cuts 20,000 jobs, adding 5,000 to an initial 15,00.
- Sprint Nextel drops 8,000 jobs, which is over 1 out of 10 employees.
- The Home Depot cuts 7,000 and closes one of it’s line of stores.
- ING cuts 7,000, which probably is no surprise with financial institutions being the center of the economic downturn.
One place is doing well, which is bad news for our waist measurement. Would you like fries with that? I previously tried to find the industries that were hiring. I’m not so sure there’s any safe ground anymore.
In case you missed it 60 Minutes did a great peice on how DHL’s demise crushed a small Ohio town, and the entire economy surrounding it.
UPDATE: CNN has the count up to 68,000 jobs lost today alone and has dubbed today “Bloody Monday.”
Got a layoff or job hunt story? Share it in the comments below.
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