Here is what i find out, There has been so many jobs cut in this economics.I am wondering what will happen next if there is no jobs.Any way there is lot of company cutting job, but right now this is what i find out. There are so many people don't have a medical insurance.This might be work out for some of them. AARP has recently launched a new Web site to help you figure out if your family qualifies for public benefits programs, what Medicaid help you can get, you can also get tax assistance, job training and search for scholarships for older people.You can download the applications you need.
Here is the United States Unemployment Rate Forecast Record.
Jobs lost is become one of the scariest for all over the world.Jobs cuts is making really bad scene for that particular country.It has been slashed 71,4000 jobs on Monday.It's very sad day. Click here and find more about this news.
The Dutch financial services company ING, said on Monday that it would cut 7,000 jobs this year and that its chief executive would step down as it seeks government guarantees for toxic mortgage debt.
Intel Corp said on Wednesday it would close manufacturing plants in Malaysia and the Philippines, as well as its only remaining factory in Silicon Valley, cutting as many as 6,000 jobs.
The announcement comes a day after the world's largest maker of microprocessors used in personal computers slashed prices on a number of its chips and a week after it reported a decline in fourth-quarter revenue.
Intel said it would close two assembly test facilities in Penang, Malaysia, and one in Cavite, Philippines.
Not all cuts at the affected plants will lead to job losses and some workers will be offered positions at other facilities, it said, adding that the restructuring will take place between now and the end of 2009.
With a big questions mark on its cash position and a minimum outgo on salary estimated at Rs 500 crore a month, Satyam may lay off over 10,000 employees next month, says a recruitment firm.
"It is most likely that Satyam will cut 10,000 jobs next month as the company is left with no cash to pay the salaries. The current fiasco is likely to put pressure on salaries, which may reduce by 10 per cent due to the surplus of about 20,000 people in the jobs market," Headhunters India CEO Kris Lakshmikanth said.
Satyam interim CEO Ram Mynampati while admitting that the cash position is not encouraging, the company, however, has taken care of salary for December.
Lakshmikanth said till Tuesday evening there were about 7,800 people from Satyam who had posted their resumes on job sites and by Wednesday afternoon, it has gone up to 14,000.
The uncertainty about jobs is killingly painful for the 53,000 employees of Satyam, especially when the industry is going slow on recruitment.
Further, possibility of a takeover too looks distant as the accounting fraud done by the company would make it difficult for any firm to evaluate its correct market value, which is compounding the worries of the employees. Satyam, News from Satyam, Message from Ram Mynampati, Satyam Interim CEO, Satyam CEO message
This what i read "In a country where it takes more than 10 years to prove the guilt, here is a man who has confessed everything before. we only see 7000 Crores but everyone forgets lacs of crores that he has bought to India and lacs of families that enjoyed his success. In Business anyhthing can happen and which he is ready to face. I wish Mr.Raju to come back the way steve Jobs of Apple Computers bounced back and built a new company with more integrity than ever. " Read more: Click Here
Mitsubishi Motors Corp. will slash more than 2,000 temporary jobs in Japan by the end of March as the country's fourth largest automaker struggles in the face of a severe slump in sales worldwide, media reports said Thursday.
Mitsubishi announced last year it would cut 1,100 temporary jobs by the end of March 2009.he job cuts, the latest in a slew of setbacks for Japanese carmakers, underlined a rapid deterioration in the global auto market as major developed economies grapple with recession and emerging economies slow.
The Japanese automaker said it is considering business cooperation with Peugeot in the area of electric cars, but stressed nothing has been decided at this moment.
Alcoa Inc said on Tuesday it would slash more than 15,000 jobs, halve capital spending and sell four businesses as it reduces aluminum production in the face of the global economic downturn. Alcoa said targeted reductions, curtailments and plant closures and consolidations, mostly in the United States and Europe, including Russia, would reduce its headcount by more than 13,500 employees or 13 percent of the worldwide workforce by the end of 2009. An additional 1,700 contractor positions also will be eliminated.
What Alcoa Do?
Smelting Output Reduced 750,000 mtpy, or 18% of Output
Reducing Headcount by 13,500 (13% of Global Workforce) and an Additional 1,700 Contractor Positions
Freezing Salaries and Hiring
Selling Four Non-Core Downstream Businesses
Reducing 2009 Capital Expenditures by 50%
Taking Advantage of New Sourcing For Raw Materials
Exchanging Equity Stakes with Orkla; Alcoa To Take 100% Ownership of 2 Elkem Smelters For its 45% Stake in SAPA
After-Tax Charges For 4Q 2008 Range from $900 to $950 Million, 80% Non-Cash
Electronic Arts Inc, the second- biggest video-game publisher, boosted planned job cuts to 1,000, or 10 per cent of its workforce nd will consolidate or close at least nine studio and publishing locations.
EA, Electronic Arts Inc., is the world's leading interactive entertainment software company. EA develops, publishes, and distributes interactive software worldwide for video game systems, personal computers, cellular handsets, and the Internet.
I have found very shocking news for another jobs cut.I have post it all most so many jobs cut post in my blog Click here.
The Memphis Daily News has reported that FedEx Freight will cut 450 jobs throughout the U.S.
The article says FedEx Freight cuts will occur at 150 facilities within the FedEx Freight network, and that some employees will have the opportunity to work at other locations. The Memphis Daily News also said that roughly 35,000 people are employed nationwide by FedExs trucking network.
Alcatel-Lucent SA, the world’s largest maker of fixed-line networks, will cut 1 billion euros ($1.3 billion) of costs in each of the next two years, including 1,000 more managerial jobs, as Chief Executive Officer Ben Verwaayen tries to end losses.
The new measures bring job cuts to 22,500, including 5,000 contractors announced today, since Alcatel SA bought Lucent Technologies Inc.
Bank of America Corp. said Thursday it expects to eliminate 30,000 to 35,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch & Co.
Office Depot Inc. will close about 9 percent of its North American stores and cut 2,200 jobs over the next three months while planning to open fewer locations next year in an effort to cut costs.
Shares of the office supply chain rose more than 12 percent after Wednesday's announcement.The company now plans to open 20 new stores next year, down from its earlier estimate of 40.
Office Depot will also close six of its 33 North American distribution centers as part of its long-term plan to combine its supply-chain systems.
I think in USA so many stores going to be close down.Let's see what happen next ?
Swedish group SKF, the world's leading maker of ball bearings said on Wednesday that it will cut 2,500 jobs, including 1,300 temporary posts, as key auto clients struggle in the economic downturn.
"The automotive segments have continued to rapidly fall and a negative trend is now also seen for the industrial segments, leading to much lower total demand for the group in the fourth quarter," SKF said in a statement.
"SKF has initiated a number of actions involving a reduction of the workforce by around 2,500 people globally."
It said it had cut production during the third quarter to cope with the fall in demand but had to take further action in face of the continued downturn.
At the end of 2007, the company's workforce totalled just under 43,000.
Rio Tinto Group will cut 14,000 jobs worldwide and reduce capital investment as part of new measures to reduce its debt amid waning demand for iron ore and other metals, the mining company said on Wednesday.
The job cuts, accounting for 12.5 percent of the company's 112,000-person work force, and reduction in operating expenditure are expected to save at least 2.5 billion Australian dollars ($1.6 billion) a year by 2010, the London-based company said in a statement.
Rio Tinto also said it will try to sell ``significant assets'' that were not previously listed for sale in order to reach its goal of trimming AU$10 billion ($6.6 billion) from its debt by the end of next year.
Rio Tinto has offices in 40 countries, with most of its employees in Australia and North America, as well as significant operations in South America and southern Africa. It employs 97,000 people directly in addition to 15,000 contractors, or people on short-term contracts. The job cuts will mostly be on the contractor side, where 8,500 positions will be eliminated.
he world's second-largest aluminum producer stressed it remains committed to its strategy of finding, developing and operating large, long life, low cost mining assets.
Yahoo Inc will tell 1,500 employees on Wednesday they are losing their jobs, after announcing in October that layoffs would occur by year's end, a person familiar with the situation said on Tuesday.
The expected date of the announcement and some details were reported this week by All Things Digital, a blog covering Silicon Valley. The layoffs will hit hardest in the labor-intensive areas of human resources and finance.
The blog had speculated the layoffs would affect more than 1,500 people, or about 10 percent of Yahoo's workforce, and the source said the number has not changed.
Yahoo will cut its workforce in high-cost markets and hire aggressively in lower-cost locales such as Eastern Europe, India and Southeast Asia, the company has said.
Sony is slashing 8,000 jobs, or 5 per cent of its global electronics work force, aiming to cut costs by $1.1 billion a year as a global downturn batters profits.
Sony Corp said it will cut the jobs from its electronics operations, which employ about 160,000 workers, by the end of March, 2010. It did not give a country breakdown for the layoffs.
Sony has already cut production and lowered inventories, but tough times demand more drastic efforts, the company said in a statement.
The electronics industry has been hurt by plunging prices, currency fluctuations, intense competition and a global slowdown in consumer spending.
Sony will end production at some plants, including one in France that makes tape and other recording media, and will continue moving electronics production to lower-cost areas. Manufacturing sites will be reduced by about 10 per cent from 57 today,
Steel maker ArcelorMittal has said it would cut over 1,500 jobs in Germany and Belgium in response to sagging demand.
s many as 750 jobs (450 in Bremen and 300 in Eisenhttenstadt) will be cut in Germany ... the time frame has not yet been finalised. In Belgium we announced a voluntary separation programme for 800 employees," spokesperson Arne Langner said.
The L N Mittal-led company said that the jobs of another 450 employees at its Bremen unit and 300 at the other German plant would be affected temporarily. However, they will not have to leave the company but will have reduced working hours and can apply for part-time work at the units where they are working now,
In Belgium, a voluntary separation programme for 800 employees in sales, and general and administrative (SG&A) departments was announced, Langner said.
However, the company did not say whether there would be job cuts in India.
US automaker General Motors (GM) announced today that another 2,000 workers will lose their jobs by early next year as low profits, slow demand, and a lack of funding has continued to shackle the car manufacturer.
The cuts come in addition to the 2,000 job cuts announced in early November at the plants in Michigan, Ohio and Oshawa, Ontario.
The struggling automaker said on Tuesday it plans to cut up to 31,500 jobs by 2010 - or a third of its workforce - as part of a restructuring plan aimed at winning $US18 billion ($A28 billion) in government-backed loans.
AT&T announced Thursday that it plans to lay off 12,000 people and curb spending on new equipment — a sign that the telecommunications industry is beginning to feel the pain of the economic downturn.
AT&T had already been struggling with a decline in revenue from its traditional wireline phone service as customers continued to drop landlines. Rapid growth in wireless, television and high-speed Internet services more than offset that drop.
But analysts said Thursday that the recession is now clearly having an impact even on the fast-growing businesses.
AT&T, which had 303,500 employees at the end of the third quarter, said layoffs would begin in December and continue through 2009. Cutbacks will come primarily in its wireline units.
Car rental company Avis Budget Group Inc. said Thursday that it has cut more than 2,200 jobs and taken other steps to meet its goal of reducing annual costs by $150 million to $200 million by the middle of 2009.
