News »Browse Articles »
80,000 jobs lost globally in a single day
0
80,000 jobs lost globally in a single day
28 January 2009 Bangalore: Globally, around 80,000 jobs have been terminated on Monday, January 26. Of this, 61,000 lay-offs happened at construction machinery manufacturer Caterpillar, pharma major Pfizer, telecom firm Sprint Nextel and home improvement retailer Home Depot. The continuous trimming of the workforce indicates that the downturn has hit hard Industries ranging from health care to heavy equipment makers.
From the banking and insurance sectors, ING Group has announced the layoff of 7,000 employees. Dutch-based electronic company Philips would cut 6,000 jobs. Similarly, Britain`s largest steelmaker Corus had said it would cut 3,500 jobs from its global workforce.
At the same time, some companies are taking extreme measures to avoid job cuts. For Instance, Virgin Atlantic has introduced a pay freeze at all levels. Many companies have also introduced short working weeks and cuts in hours.
Source:
http://siliconindia.com/shownews/80000_jobs_lost_globally_in_a_single_day-nid-51
From the banking and insurance sectors, ING Group has announced the layoff of 7,000 employees. Dutch-based electronic company Philips would cut 6,000 jobs. Similarly, Britain`s largest steelmaker Corus had said it would cut 3,500 jobs from its global workforce.
At the same time, some companies are taking extreme measures to avoid job cuts. For Instance, Virgin Atlantic has introduced a pay freeze at all levels. Many companies have also introduced short working weeks and cuts in hours.
Source:
http://siliconindia.com/shownews/80000_jobs_lost_globally_in_a_single_day-nid-51
Search News
News Categories
What's the News?
Post a link to something interesting from another site, or submit your own original writing for the Recruitment community to read.
Most Popular News
-
How to Headhunt the Headhunters??
Published about 04-10-2008 | Rated +2 -
3 Steps to find your perfect candidate
Published about 05-10-2008 | Rated +6 -
Recruitment Strategies
Published about 05-10-2008 | Rated +4 -
5 Interviewing Mistakes That Can Lead To Hiring The Wrong Person
Published about 05-10-2008 | Rated +3
Most Recent User Submitted News
- Harley-Davidson to slash 1,000 jobs
Published about 16-07-2009 | Rated 0 - Nine Recruiting and Selection Tips to Ensure Successful Hiring
Published about 01-09-2009 | Rated 0 - Banks in India bar engg grads from being entrepreneurs
Published about 16-11-2009 | Rated 0 - SpiceJet to step up headcount
Published about 02-08-2009 | Rated 0