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Job Cuts Get Brutal: Sprint, Pfizer, Home Depot, Caterpillar

January 26, 2009 RSS Feed Print

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The job loss tally so far today: 54,500. Cuts are coming across industries as further weakness in the economy keeps major employers slashing away.

On the same day it agreed to buy rival drugmaker Wyeth, Pfizer said it would cut 15 percent from its combined workforce (that's a bit less than 19,500 jobs). Meanwhile, Caterpillar is faring poorly in the global recession. It's cutting its workforce by 20,000 including 11 percent of its workforce, or 12,000 jobs, and 8,000 contractors. Home Depot, a lingering victim of the downturn in both consumer spending and housing, said it would slash another 7,000 jobs as it shutters its high-end EXPO business. And finally, Sprint Nextel is eliminating 14 percent of its workforce, or 8,000 jobs.

Update: Add another 6,000 to the tally above. Philips Electronics is cutting too.

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You stated that you were laid off & being a lawyer with 20 years experience, cannot find a job - after reading your poorly written, utterly stupid post I am not surprised.

Dr ML of CA 10:07AM January 29, 2010

The sheeple will believe anything that comes from the government, well folks, the change you voted for, you finally got it. Now although I too will be impacted like everyone, it is going to be somewhat gratifying to see you struggle.
As far as riots and civil disorder, I think we haven't seen but the mere tip of the iceburg. I believe there will be mobs in the streets, they WILL take what they need in order to survive. I believe you will see major black markets/or and underground economy grow, maybe larger than anything we have ever seen.
All hell will break loose, and very soon!!

dr of VA 10:11AM January 27, 2010

"Only because I am a christian-catholic that i have not subcumed to class or related racial hatred . "
What a load of nonsense that is. You too good to cause any trouble because you're a Catholic? Give me a break. Do us all a favor and ask the pope to stop protecting all those child molesters you call priests.

John of WA 2:33AM January 27, 2010

Job Cuts Get Brutal: Sprint, Pfizer, Home Depot, Caterpillar

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