There was a big announcement today. That reduced my efforts to find too many other headlines. The list:
United Technologies cutting jobs, outlook — 11,600 jobs, 5% of their global workforce. They’re still going to spend $1 billion on share buybacks. I’m not sure why that would restore faith in management. It’s not clear how the distribution of jobs will break down.
Dow Chemical to Sell Assets, Cut Jobs After Rohm Deal — They’re estimating 3,500 jobs. This was more than estimated.
Australian Job Ads Fall by Record Amount Amid Company Pessimism — Just a data point.
Total to Cut Refining Jobs, Invest in Diesel Output — 555 French jobs gone, but some hiring in Normandy is expected.
Mercury General Cuts 360 Jobs, or 7% of Workforce, After Losses — Apparently a lot of Californians are switching to Geico (no, not really).
When the big internationals make job cut announcements, the numbers can be large.
