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JOB CUTS * USA - Tens of thousands more layoffs are announced
Washington,DC,USA -AP, by JEANNINE AVERSA -26 Jan 2009: -- It's already been a lousy year for workers less than a month into 2009 and there's no relief in sight. Tens of thousands of fresh layoffs were announced Monday and more companies are expected to cut payrolls in the months ahead... A new survey by the National Association for Business Economics depicts the worst business conditions in the U.S. since the report's inception in 1982... Caterpillar Inc., the world's largest maker of mining and construction equipment, announced 5,000 new layoffs on top of several earlier actions. The latest cuts of support and management employees will be made globally by the end of March. An additional 2,500 workers already have accepted buyout offers, and ties have been severed with about 8,000 contract workers worldwide. In addition, about 4,000 full-time factory workers already have been let go... Peoria, Ill.-based Caterpillar also reported Monday that its fourth-quarter profit plunged 32 percent. The company expects sharply lower results this year as global economic problems cut into its business... (AP Photo/Charlie Neibergall, File – In this Nov. 18, 2008 file photo, a semi hauling a load of lumber pulls through The Home Depot store parking lot in Ankeny, Iowa. Home Depot Inc. said Monday, Jan. 26, 2009, it's cutting 7,000 jobs and closing its smaller Expo chain as the recession continues to batter the nation's housing market) Labels: jobs' cut
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