The next round of layoffs in corporate America is here. Four companies - AT&T Inc., DuPont Co., Viacom Inc. and Credit Suisse Group have announced a total of 20,000 plus layoffs. Here is the exact breakdown in the numbers for each company:
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AT&T - 12,000 jobs - About 4% of its total workforce
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Credit Suisse Group - 5,300 staff jobs + 1,200 contractor jobs - About 11% of its total workforce
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Dupont Co - 2,500 jobs
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Viacom Inc - 850 jobs - About 7% of its workforce
Just yesterday a combined total of 3,000 job cuts were announced by State Street Corp., Jefferies Group and The Carlyle Group. All these job cuts will further swell the already big number of 1.2 million job losses in America in the year 2008. The U.S economy is now officially in recession and when the bottom of this recession is reached is anybody’s guess. If you currently have a job, be happy about it and try your best to hold on to it.
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