Monday, November 10, 2008

Job Loss Parade - Layoff Announcements Continue

Job Loss Parade

The Job Loss Parade continues to march its way throughout the economy. More layoff announcements have come out in the past few days.

Companies involved include:


According to MarketWatch, Deutsche Post AG is planning a cost-cutting program that could result in thousands of layoffs at its cargo shipping firm DHL, a German newspaper reported Sunday.
An article in the German-language Frankfurter Allgemeine Sonntagszeitung said that Deutsche Post -- the corporate owner of DHL -- is planning to announce a cost-cutting program Monday that could result in as many as 40,000 layoffs at DHL, according to the Associated Press.

About half the planned layoffs could take place at DHL's U.S. Express business, which competes with larger rivals UPS and FedEx. A large facility in Wilmington, Ohio, could be hit hard by the layoffs, according to the report.

Circuit City Chapter 11 & Job Cuts

The Wall Street Journal reports that Circuit City is considering a plan to close at least 150 stores and cut thousands of jobs, as an alternative to filing for bankruptcy-court protection, said people familiar with the company.
Honeywell International to Reduce 700 jobs
Honeywell will move 700 jobs over the next three years from its aerospace division in Phoenix to plants in Mexico and the Czech Republic, according to the Phoenix Business Journal.

Most of the cuts will come from attrition, transfers, and volunteers according to Honeywell. Only about 100 workers will be laid off. be obtained via attrition, workers being able to transfer to other Honeywell units and voluntary severance. She hoped that in the end about 100 workers would be laid off because of the moves to the foreign markets.
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