Still waiting. Today’s job cuts were not as bad as yesterday’s, but it was not a good day. The headlines:
Avery Dennison to Cut 10% of Jobs After Sales Decline — 3,600 jobs from “the world’s largest label maker.”
Target to Cut 9% of Headquarters Jobs, Shut Distribution Center — 1,100 jobs.
McGraw-Hill Profit Falls 18% on Costs to Cut Jobs, Credit Slump — These jobs were already cut, but those numbers certainly suck.
Corning to Cut 3,500 Jobs After Profit, Sales Plunge — 13% of their workforce.
DuPont to Cut 8,000 Contractor Jobs Amid Weak Demand — Twice what they announced last month (4,000 cuts previously unannounced).
STMicroelectronics Has $366 Million Loss; Sales Fall — 4,500 European jobs.
Nissan to Cut 110 Sales, Design Jobs at U.S. Unit — They are also only going to make cars 4 days a week at all US plants.
As I said, it was not a good day.
