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Recession at the corner !! (update 6)

We are already in recession...
Nov. 14 (Bloomberg) -- Sun Microsystems Inc., the world’s fourth-largest maker of server computers, plans to cut as many as 6,000 workers amid the global credit crisis.

Royal Bank of Scotland will cut around 3,000 jobs worldwide over the next several weeks to reduce costs amid the global financial crisis, according to British media reports.

13 Nov 08 : Telecoms giant BT says it expects to have cut 10,000 jobs by the end of the financial year. The cuts will mainly affect agency and contract staff and offshore workers, the company said. The company said it had already cut 4,000 jobs, leaving a further 6,000 to go by the end of March. BT has a global workforce of 160,000.

12 Nov 08 : Chip manufacturing equipment company Applied Materials plans to reduce its global workforce by about 12 percent, or 1,800 workers, in a move to cut costs and streamline its business, the company announced Wednesday

11 Nov 08 : Yell plans 1300 job cuts in £100m costs drive

Nortel posts loss, to cut 1300 jobs in 'challenging environment' ... posted a third-quarter loss of 3.4 billion US dollars on Monday and announced 1300 job cuts as its sales stagnate in a highly competitive market

Hamilton County Administrator Patrick Thompson today proposed a 2009 general fund budget for the county that would eliminate 532 jobs.

Citing heavy losses and fierce competition, the overnight-delivery giant DHL is cutting 9,500 American jobs and significantly reducing its air and ground operations in the U.S., largely leaving the field to FedEx, UPS and the Postal Service. DHL's parent company said the new round of cuts are on top of another 5400 job cuts already announced and blamed heavy losses at the unit

10 Nov 08: Fidelity Investments will cut nearly 1,300 jobs, or 2.9 percent of its staff, this month and plans more layoffs in the first three months of next year

7 Nov 08 : In order to slash its costs by USD 1.8 billion in 2009, major US credit card group American Express, will lay off 7000 of its employees, amounting to around 10 per cent of its worldwide workforce.

6 Nov 08 : Cable & Wireless to cut 700 jobs as part of Thus merger

15 Oct 08 : India's largest private sector airline Jet Airways axes nearly 2,000 jobs and reveals unprecedented cost-cutting pact with main rival. The airline on Wednesday confirmed the lay-off of 800 cabin crew and indicated a further lay-off taking the total to 1,900 people.

Massachusetts Governor Deval Patrick plans to eliminate 1,000 jobs as part of an effort to close a $1.4 billion gap that appeared in the state budget in the last 3 1/2 months.

14 Oct 08: British confectionery giant Cadbury Plc reported a 6 percent rise in third-quarter underlying sales as it announced a further 580 job cuts to keep it on track to meet its annual sales and profit margin goals.

Daimler's North American truck division will shed 3,500 jobs, close two plants and scrap its Sterling Trucks brand in response to depressed demand across the industry, the German automaker said Tuesday.

PepsiCo Inc., the world's largest snack maker, said it will cut 3,300 jobs after posting profit that fell more than analysts estimated and lowering its forecast for the rest of the year.

Ford Motor Co.'s Australian unit is set to cut a further 500 jobs in Victoria state on poor sales and higher fuel costs, the Age reported, citing unnamed sources.

HP has told union officials that 3,378 jobs will cut in the UK, as it attempts to integrate its new acquisition EDS.
The EDS job cuts will take place over the next two years, and are part of a wider strategy to axe 24,600 jobs globally and cut costs.

13 Oct 08: A Nissan official said the car maker would lay off 1,680 workers at a plant in Spain because of poor demand.

The Media Entertainment and Arts Alliance (MEAA) said it seemed likely Fairfax editorial staff would face forced redundancies as part of a "business improvement plan" to cut 550 jobs across the company's Australian and New Zealand operations.

10 Oct 08: Micron Tech to cut 2,850 jobs. Micron Technology Inc, the largest US producer of memory chips, will cut about 2,850 jobs over the next two years and reduce production in an industry glut. The cuts represent about 15 per cent of its global workforce of 19,000.

07 Oct 08: Aer Lingus Group PLC is planning up to 1,500 job cuts, Ireland's SIPTU trade union said Tuesday.Under the plan, which is scheduled to go ahead on Dec. 1 following a consultation process, the airline would cut 1,500 ground staff and cabin crew at Dublin, Cork and Shannon airports, and outsource those jobs.

6 Oct 2008 : eBay, announced Monday that it was laying off 10 percent of its work force, or about 1,000 permanent employees and several hundred temporary workers.

Accenture UK job cuts to hit 300-400 IT workers

Computer maker Hewlett-Packard Co. will cut 1,400 jobs in Germany over the next two years as part of a worldwide restructuring effort

1 Oct 2008 : Sony Ericsson plans to cut costs by axing 2,000 jobs around the world, 450 of which will be in the US . At Sony Ericsson’s US headquarters in North Carolina , 450 of the facility’s 750 staff will be laid off, in a measure that will cut the company’s US workforce in half.
1 Oct 2008: UBS plans to cut 1,900 more jobs in its investment banking, equities and fixed-income trading businesses. The cuts would represent abut 10 percent of the worldwide investment banking staff. UBS has slashed about 7,000 jobs since 2007

30 Sept 2008 : ITV outlines 1,000 job losses

26 Sept 2008 : 1,100 announced by Britain's HSBC Holdings.

25 Sept 2008 Bradford & Bingley (B&B) has announced cost cutting measures that will result in 370 job losses.

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