With an aim to save costs in troubled economic times, just 10 companies together have announced nearly one lakh job cuts worldwide since start of 2012 and they include giants like HP, Google and Citigroup.
While these companies come from a wide array of businesses, the reason behind layoffs has mostly been cost-cutting efforts in their respective operations.
Others who have announced major layoffs in 2012 so far are AMR Corporation, PepsiCo, MetLife, Hostess Brands, JC Penney Co, Procter & Gamble and Morgan Stanley.
Collectively, these ten companies have announced layoffs affecting at least 95,500 jobs in their operations globally.
Choosen excerpts by Job Market Monitor from
Hewlett-Packard It’s hard to top, or bottom, the recent mass firings by past-its-prime Silicon Valley stalwart Hewlett-Packard. The last few years have been dreadful for the computer manufacturer. Longtime CEO Carly Fiorina was shoved out the door after a disastrous merger with Compaq. Her successor Mark Hurd followed suit after a sex scandal, and his … Continue reading »
By the beginning of 2012, the pharma industry had endured one of the biggest shakeouts in the industry’s history. Tens of thousands of jobs had been eliminated, and most employees had good reason to fear they would be next. Just after the New Year, PharmaIQ reported that a survey revealed that 44% of the people … Continue reading »