Posts
The jobs keep disappearing once again.
The Labor Department said on Friday that we have lost 1.2 million jobs through the month of October, with 240,000 of those jobs lost in October alone. The un-employment rate now stands at 6.5%. There is more bad news, of course.
The first week of November has been brutal for the job market, with nearly 15,000 announced job cuts from a slew of companies across multiple industries.
Eight companies announced job cuts this week as a means of cost-cutting during desperate times, representing industries as widespread as retail, finance, leisure, pharmaceutical and toy and automobile manufacturing
Some of those companies who will be slashing their workforce
Circuit City: roughly 7,300
Hartford Financial : 500
GlaxoSmithKline : 1,000 sales persons
The list includes others such as Mattel, Fidelity Investments of Boston, and La-Z-Boy. Ford Motor Company will be tossing some 2,600 workers out also.
Christmas might be looking somewhat gloomier for many people this year.
0 Comments:
Post a Comment