Monday, 26 January 2009

More Job Cuts in the U.S. Spring Nextel, Caterpillar, Pfizer-Wyeth

The following companies announced more job cuts in the U.S. and around the world. The situation is only getting worse.

1) CATERPILLAR -- It today announced the dismissal of 17,000 employees and the early termination of contracts for another 2,500.
2) PFIZER-WYETH -- As some of you might know, Pfizer agreed to acquire rival Wyeth for about $68 billion. The company will trim 10 percent of the workforce, or about 19,000 employees, to proceed with the merger.
3) SPRING NEXTEL -- The company today announced a plan to eliminate up to 8,000 jobs, or about 14 percent of its workforce.
4) SÃO PAULO, BRAZIL -- The São Paulo State's Industrialists Federation informed today that more than 130,000 job posts were lost in December across the state.
5) CORUS -- The steelmaker will cut 3,500 jobs, with 2,500 of those only in the U.K.
6) PHILLIPS -- It will cut 6,000 jobs.
7) ING BANK -- After reporting a 1 billion euro loss, it said it would cut 7,000 jobs and close its Argentina pension business.

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