Crazy Nut Job
Today Was Not The Day

I’m waiting for a day without significant job cuts. Today disappoints.

Warner Bros. to cut 800 jobs as Hollywood down:

Warner Bros. Entertainment plans to cut 800 jobs, or 10 percent of its worldwide staff, as Hollywood outsources and downsizes under the weight of the current recession.

Bose confirms layoffs:

Bose Corp., a Framingham company known for its audio products, confirmed news reports that it is cutting 1,000 jobs, or about 10 percent of its work force, as it seeks to adapt to a global economy in recession.

I found the Bose news from this Calculated Risk post. It also mentions the speculation that Bank of America may cut 4,000 jobs related to the Merrill Lynch merger. I’m not counting those until they are officially announced. State Street job cuts have also figured prominently in the financial news today (mostly because the stock got hammered), but those also don’t count. They were announced a while ago.

These also don’t count against my count because they aren’t the US. I post them because they give a glimpse of how bad things are elsewhere:

  1. China Faces Worst Unemployment in Decades as Slowdown Deepens

  2. Metro to Shed 15,000 Jobs to Restore Earnings Growth — That’s Germany

  3. Finnish Unemployment Hits 6.1% on Recession Outlook

There will be massive cuts in the finance and retail sectors in nearly every country. Be prepared.

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