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January 8, 2009

Wells Fargo: job cuts will begin this year

Wells Fargo CEO John Stumpf in an interview with Charlotte Observer said that job cuts for the combined [Wells Fargo acquired Wachovia year] company will begin this year:

“There will be duplicative jobs and there will be job loss – I know that. How many that will be, I do not know. I’m a big pro-jobs person, and the more customers we have, the more jobs we need. We’ve done a couple of things to make the job loss as small as it possibly can be: We have a hiring freeze on at both companies. We’re putting postings up for open jobs. And just because a position is eliminated does not necessarily mean a job is lost.

But I’m not going to kid anybody here. There will be some job loss, and minimizing that is going to be the challenge for everybody in this company.”

January 2, 2009

Layoffs at America’s 500 largest public companies (Wrap-up for December 2008)

Filed under: FYI,General,News,US,worldwide — DF @ 9:56 pm
Tags: ,

Total count: 106,988

Layoffs wrap-up for December, 1 – 29, 2008:

  1. AMD (nyse: AMD), Layoff announced: 12/29/08, Employees affected: 100
  2. Johnson Controls (nyse: JCI), Layoff announced: 12/23/08, Employees affected: 125
  3. Las Vegas Sands (nyse: LVS), Layoff announced: 12/23/08, Location: Macau, Employees affected: 500
  4. Parker-Hannifin (nyse: PH), Layoff announced: 12/22/08, Employees affected: 405
  5. Eaton (nyse: ETN), Layoff announced: 12/22/08, Employees affected: 331
  6. Genworth Financial (nyse: GNW), Layoff announced: 12/19/08, Location: worldwide, Employees affected: 1,000
  7. Electronic Arts (nasdaq: ERTS), Layoff announced: 12/19/08, Employees affected: 1,000
  8. Sovereign Bancorp (nyse: SOV), Layoff announced: 12/19/08, Employees affected: 1,000
  9. Omnicom Group (nyse: OMC), Layoff announced: 12/18/08, Employees affected: 3,000
  10. Caterpillar (nyse: CAT), Layoff announced: 12/18/08, Employees affected: 814
  11. Ryder System (nyse: R), Layoff announced: 12/17/08, Location: South America, Employees affected: 3,100
  12. Western Digital (nyse: WDC), Layoff announced: 12/17/08, Employees affected: 2,500
  13. Aetna (nyse: AET), Layoff announced: 12/17/08, Employees affected: 1,000
  14. Bristol-Myers Squibb (nyse: BMY), Layoff announced: 12/17/08, Employees affected: 3,700 (in addition to 10% cut in back in July)
  15. CBS Corp (nyse: CBS), Layoff announced: 12/16/08, Employees affected: 30
  16. Merrill Lynch (nyse: MER), Layoff announced: 12/15/08, Employees affected: 400 (amateur brokers-in-training)
  17. Charles Schwab (nasdaq: SCHW), Layoff announced: 12/15/08, Employees affected: 100
  18. Union Tank Car Company (majority owned by Berkshire Hathaway (nyse: BRK.A)), Layoff announced: 12/13/08, Employees affected: 130
  19. Masco (nyse: MAS), Layoff announced: 12/12/08, Employees affected: 500
  20. International Paper (nyse: IP), Layoff announced: 12/12/08, Employees affected: 1,500
  21. Las Vegas Sands (nyse: LVS), Layoff announced: 12/12/08, Location: Las Vegas area, Employees affected: 216
  22. Bank of America (nyse: BAC), Layoff announced: 12/11/08, Employees affected: 35,000 (over three years)
  23. Whirlpool (nyse: WHR), Layoff announced: 12/11/08, Employees affected: 150
  24. Dal-Tile (owned by Mohawk Industries (nyse: MHK)), Layoff announced: 12/10/08, Location: Gettysburg, Pa, Employees affected: 105
  25. Procter & Gamble (nyse: PG), Layoff announced: 12/10/08, Closure of Clairol plant, Employees affected: 320
  26. Praxair (nyse: PX), Layoff announced: 12/9/08, Employees affected: 1,600
  27. Anheuser-Busch (nyse: BUD), Layoff announced: 12/8/08, Location: US nationwide, Employees affected: 1,400; Contractors affected: 415
  28. 3M (nyse: MMM), Layoff announced: 12/8/08, Employees affected: 2,300
  29. Wyndham Worldwide (nyse: WYN), Layoff announced: 12/8/08, Employees affected: 4,000
  30. Dow Chemical (nyse: DOW), Layoff announced: 12/8/08, Closure of 20 plants, Employees affected: 5,000 (11% of staff)
  31. Legg Mason (nyse: LM), Layoff announced: 12/5/08, Employees affected: 200 (8% of staff)
  32. Newsday (owned by Cablevision (nyse: CVC)), Layoff announced: 12/5/08, Employees affected: 100
  33. Staples (nasdaq: SPLS), Layoff announced: 12/19/08, Employees affected: 140
  34. General Motors (nyse: GM), Layoff announced: 12/5/08, Employees affected: additional 2,000
  35. Steel Dynamics (nasdaq: STLD), Layoff announced: 12/4/08, Employees affected: 65
  36. Cummins (nyse: CMI), Layoff announced: 12/5/08, Employees affected: 500
  37. Windstream (nyse: WIN), Layoff announced: 12/4/08, Employees affected: 170
  38. NBC Universal, Layoff announced: 12/4/08, Employees affected: 500 (3% of workforce)
  39. DuPont (nyse: DD), Layoff announced: 12/4/08, Employees affected: 2,500
  40. AT&T (nyse: T), Layoff announced: 12/4/08, Employees affected: 12,000 (4% of workforce)
  41. Freeport-McMoRan Copper & Gold (nyse: FCX), Layoff announced: 12/3/08, Location: New Mexico mine, Employees affected: 600
  42. Pratt & Whitney (owned by United Technologies (nyse: UTX)), Layoff announced: 12/3/08, Employees affected: 350
  43. Gannett (nyse: GCI), Layoff announced: 12/3/08, Employees affected: 2,000
  44. Adobe Systems (nasdaq: ADBE), Layoff announced: 12/3/08, Employees affected: 600
  45. Jefferies Group (nyse: JEF), Layoff announced: 12/3/08, Employees affected: 300 (13% of workforce)
  46. Viacom (nyse: VIA), Layoff announced: 12/3/08, Employees affected: 850
  47. United States Steel (nyse: X), Layoff announced: 12/2/08, Employees affected: 3,500
  48. JPMorgan Chase (nyse: JPM), Layoff announced: 12/1/08, Employees affected: 9,200 (21% of WaMu staff)
  49. PepsiCo (nyse: PEP), Layoff announced: 12/1/08, Location: Oklahoma Gatorade plant, Employees affected: 87

Sources: Forbes, Reuters

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