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Jan 27, 2009

U.S. Companies Cut 519,895 Jobs Since Election

U.S. companies have announced more than 519,895 job cuts since the Election Day victory by Barack Obama, who has proposed a plan to create as many as 4 million jobs to boost the economy.

Following is a list of dismissals announced since Nov. 1, based on information compiled by Bloomberg News and Challenger, Gray & Christmas, the Chicago-based executive search firm. Only companies with 500 or more job cuts are included in the table.


DATE     COMPANY                                         CUTS
==============================================================
Nov-08 Citigroup 75,000#
Dec-08 Merrill Lynch (Bank of America Merger) 35,000
Jan-09 Circuit City 34,000
Jan-09 Caterpillar 20,000
Jan-09 Pfizer 19,000
Nov-08 Lehman Brothers 16,000
Dec-08 KB Toys 15,000
Nov-08 DHL Express 14,900
Jan-09 Alcoa 13,500
Dec-08 AT&T 12,000
Dec-08 Dow Chemical Co. (contractors & full time) 11,000
Jan-09 General Electric (GE Capital) 11,000*
Dec-08 JPMorgan Chase (Washington Mutual) 9,200
Jan-09 Sprint/Nextel 8,000
Nov-08 Circuit City Stores 7,305
Jan-09 Home Depot 7,000
Nov-08 Sun Microsystems 6,000
Jan-09 Eaton 5,200
Jan-09 Intel 5,000
Jan-09 Microsoft 5,000
Jan-09 Schlumberger 5,000
Dec-08 Federal-Mogul 4,600
Jan-09 Boeing 4,500
Nov-08 ArvinMeritor 4,000
Jan-09 Hertz 4,000
Jan-09 Motorola 4,000
Dec-08 Wyndham Hotel Group 4,000
Jan-09 Avery Dennison 3,600@
Jan-09 Corning 3,500
Dec-08 Omnicom Group 3,500
Dec-08 United States Steel 3,500
Dec-08 Bristol-Myers Squibb Co (wound-care unit) 3,400
Jan-09 Texas Instruments 3,400
Jan-09 Xerox 3,400
Nov-08 Pepsi Bottling Group 3,150
Dec-08 Ryder Systems 3,100
Nov-08 Lehman Brothers (Barclays) 3,000
Nov-08 First American 2,950
Jan-09 IBM 2,800
Dec-08 DuPont 2,500
Dec-08 Tyco Electronics 2,500
Dec-08 Western Digital 2,500
Jan-09 EMC 2,400
Nov-08 Freescale Semiconductor 2,400
Dec-08 Avis Budget Group 2,200
Jan-09 Cooper Industries 2,200
Dec-08 Newell Rubbermaid 2,200
Dec-08 Office Depot 2,200
Jan-09 Textron 2,200
Jan-09 Freightliner 2,100
Jan-09 Cessna Aircraft 2,000
Jan-09 Delta 2,000
Dec-08 General Motors 2,000
Nov-08 General Motors (salaried workers) 2,000
Jan-09 MeadWestvaco 2,000
Dec-08 Stanley Works 2,000
Dec-08 Viasystems Group 2,000
Dec-08 Air Transport Services Group (ABX Freight Unit) 1,900
Jan-09 Bank of America 1,900
Jan-09 Clear Channel Communications 1,850
Dec-08 3M 1,800
Nov-08 Applied Materials 1,800
Nov-08 Bank of New York Mellon 1,800
Dec-08 Belden 1,800
Dec-08 State Street 1,800
Dec-08 Danaher 1,700
Nov-08 Fidelity National Investments 1,600
Dec-08 Pentair 1,600
Nov-08 Washington Mutual (Pleasanton Campus) 1,600
Jan-09 Freeport-McMoran 1,550
Jan-09 Baker Hughes 1,500
Dec-08 Kemet 1,500
Dec-08 ON Semiconductor 1,500
Jan-09 WellPoint 1,500
Dec-08 Con-Way 1,450
Dec-08 Cooper Tire & Rubber 1,400
Dec-08 Furniture Brands International 1,400
Dec-08 InBev (Anheuser-Busch) 1,400
Jan-09 Williams-Sonoma 1,400
Dec-08 Air Products & Chemicals 1,300
Jan-09 ConocoPhillips 1,300
Nov-08 Morgan Stanley 1,300
Dec-08 Unisys 1,300
Nov-08 Fidelity Investments 1,288
Nov-08 ArvinMeritor (hourly & salaried) 1,250
Jan-09 Compass Bank 1,200
Jan-09 Kennametal 1,200
Jan-09 Huntsman 1,175
Dec-08 Hutchinson Technology 1,125
Jan-09 Advanced Micro Devices 1,100
Dec-08 Fairchild Semiconductor 1,100
Jan-09 Harley-Davidson 1,100
Nov-08 HSBC North America Holdings (Investment Bank) 1,100
Jan-09 Rio Tinto Alcan 1,100
Jan-09 Saks 1,100
Dec-08 Aetna 1,000
Dec-08 Alcatel-Lucent (management jobs) 1,000
Jan-09 Alltel 1,000
Jan-09 Ashland 1,000
Jan-09 Bose 1,000
Jan-09 Ecolab 1,000
Jan-09 Electronic Arts 1,000
Dec-08 Electronic Arts 1,000
Dec-08 Genworth Financial 1,000
Nov-08 GlaxoSmithKline (US sales) 1,000
Nov-08 Mattel 1,000
Nov-08 Neptune Orient Lines 1,000
Dec-08 Sovereign Bancorp 1,000
Jan-09 UAL Corp (United Airlines) 1,000
Jan-09 Walgreens 1,000
Nov-08 USG 900
Nov-08 La-Z-Boy 850
Dec-08 Viacom 850
Jan-09 Barnes Group 800
Jan-09 Cummins 800
Jan-09 Suntech Power 800
Jan-09 Time Warner (Warner Bros.) 800
Dec-08 Sonoco Products 700
Jan-09 Deere 692
Dec-08 U.S. Steel 677
Nov-08 Lam Research 600
Jan-09 Seagate 600
Dec-08 Principal Financial 550
Jan-09 Bridgestone 543
Jan-09 Lincoln National 540
Dec-08 Agilent Tech 500
Nov-08 Hartford Financial Services 500
Dec-08 Las Vegas Sands 500
================================================================
Total 519,895
================================================================
Source: Challenger, Gray & Christmas, Inc. and Bloomberg

# -- Combined total for the year.

* -- May cut 7,500-11,000 this year.

@ -- Estimated 10 percent of workforce.



Source : Bloomberg
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