Layoffs, Layoffs, and more Layoffs
The Economy November 12th, 2008
From CNBC:
Applied Materials, the No. 1 computer chip-equipment maker, posted a smaller-than-expected drop in quarterly profit and said it will slash 1,800 jobs, or 12 percent of its workforce to cut costs, boosting its shares more than 5 percent.
The company said on Wednesday it expects the job cuts, which will begin in the fiscal 2009 first quarter and be completed at the end of that year, to generate annual savings of $400 million.
From USA Today:
Morgan Stanley unveils job cuts
NEW YORK — Morgan Stanley (MS) on Wednesday announced plans to cut 10% of the staff in its biggest business, which covers everything from investment banking to stock trading.
The nation’s No. 2 securities firm, which converted into a bank holding company in September, plans to scale back its most capital-intensive businesses before the end of the year. The layoffs inside the institutional securities group follow a 10% cut made earlier this year to the same group.
Morgan Stanley also plans to restructure its money management business by cutting 9% of the staff there.
It was not immediately clear how many positions will ultimately be eliminated from the company’s total ranks of about 44,000.
From CNNMoney:
NEW YORK (CNNMoney.com) — Global delivery company DHL announced Monday that it was cutting 9,500 jobs as it discontinues air and ground operations within the United States.
DHL’s 9,500 job cuts are on top of 5,400 job reductions announced earlier this year. After these layoffs, between 3,000 and 4,000 employees will remain at DHL’s U.S. operations, the company said.
November 12th, 2008 at 7:54 pm
A few job sites seem appropriate right about now -
www.linkedin.com (professional networking)
www.indeed.com (aggregated listings)
www.realmatch.com (matches jobs based on your skills)
Good look to those looking for work!