Three (3) BIG layoffs announced this week, and today is still Wednesday!
By Daniel at 27 January, 2010, 11:57 am
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I’d say cutting several thousand jobs, even part-time ones, is pretty big. Only the warped minds on Wall Street can spin a story where many Americans lose their jobs into a positive investment outlook.
Wal-Mart cuts about 11,200 Sam’s Club workers (Jan. 25)
New York — Wal-Mart Stores Inc. will cut about 11,200 jobs at Sam’s Club warehouses as it turns over the task of in-store product demonstrations to an outside marketing company.
The move is an effort to improve sales at Sam’s Club and comes on top of a decision to close 10 underperforming warehouse locations, which cost 1,500 jobs.
The cuts represent about 10 percent of the warehouse club operator’s 110,000 staffers across its 600 stores. That includes 10,000 workers, mostly part-timers, who offer food samples and showcase products to customers. The company also eliminated 1,200 workers who recruit new members.
Employees were told the news at mandatory meetings Jan. 24.
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Verizon to Cut 13,000 Jobs as Businesses Reduce Lines (Update2) (Jan. 26)
Jan. 26 (Bloomberg) — Verizon Communications Inc., coping with subscriber losses at its fixed-line phone business, plans to cut about 13,000 jobs at the division this year after posting fourth-quarter revenue that missed analysts’ estimates.
The cuts will follow reductions of a similar size last year, Chief Financial Officer John Killian said on a conference call today. This year’s eliminations equal to 11 percent of the staff at the unit, which had about 117,000 workers at year-end.
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Home Depot to Cut 1,000 U.S. Jobs, Close Test Stores (Update2) (Jan. 26)
Jan. 26 (Bloomberg) — Home Depot Inc., the world’s largest home-improvement retailer, will cut 1,000 U.S. jobs as it shrinks its pool of human-resources and construction workers and closes three test stores.
Home Depot will start cutting most of the jobs by the end of the week, Ron Defeo, a spokesman, said today by telephone. The positions being eliminated are also in finance and real estate. The company will also add 200 jobs, resulting in a net loss of 800 positions, he said.
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