Job Cuts 2/17/09
Today’s big announcement was from GM. That alone would qualify today as a bad day. The headlines:
Nearly 800 Jobs Axed at Delphi’s Steering Division — Auto industry jobs lost over the long weekend.
GM Seeks Up to $16.6 Billion in Aid, 47,000 Job Cuts — In case you haven’t figured it out (because Congress clearly didn’t), the money is for debt payments, not jobs.
Smithfield to restructure, cut 1,800 jobs — Apparently there’s some overcapacity in pork.
Agilent to Cut 600 Jobs; Sales, Profit Miss Estimates — There’s also a decrease in the demand for scientific testing equipment.
The threat of massive layoffs in California is still making headlines. The deadline was supposedly today. There have been better days than today.
