78,000 Lose Their Jobs In One Day
January 27, 2009 at 5:23 AM (PT)
As far as showing up for work on a MONDAY goes, yesterday was about the worst for workers at many companies -- something the radio and music business understands all too well.
In one of the worst-single days ever for widespread layoffs, more than 78,000 workers yesterday got pink-slip notices at global public companies, cutting across almost every business sector -- from bankers and engineers to amusement-park workers and sales clerks, reports THE NEW YORK POST.
Among the hardest hit was CATERPILLAR, which announced it was axing 20,000 due to the global slowdown for heavy equipment, HOME DEPOT, which is slashing 7,000 jobs from the shutdown of its EXPO home-decorating business, and SPRINT NEXTEL, which will reduce its payroll by 8,000, or 15%, to save $1.2 billion.
"We haven't seen this much activity in one day, affecting such a diversity of industries and of such scale," said JAMES PEDDERSON, a spokesman at CHALLENGER GRAY & CHRISTMAS, which tracks company layoffs. "The job cuts in the 2001 and 2002 tech bubble were huge, but didn't affect sectors as broadly as this." He said the worst month for job cuts was in JANUARY 2002, when 248,475 jobs were lost, mostly in the tech industry and financial services.
Stay In Touch And Get Your Contact Info Out
Remember, you can use the ALL ACCESS INDUSTRY DIRECTORY to keep in touch with those out of work in out business, as well as list your info if you've lost your job. On the INDUSTRY DIRECTORY page, use the "Category" pull down menu in the search directory, and choose "On The Beach" to see everyone who's currently out of work.
And don't forget to update your information!