Mass Layoffs Announced

2009-01-27 03:15:28 (GMT) (WiredPRNews.com - Business, News)

More layoffs were announced Monday with the job loss numbers totaling in the tens of thousands.

Wired PR News.com – Tens of thousands of job cuts were announced Monday and many more are expected to occur within the coming months. As reported by the Associated Press (AP), a National Association for Business Economics (NABE) survey cites the current business conditions as the worst the United States has seen in over two decades.

As predicted from data in the survey, a significant number of layoffs will occur over the next six months. Sara Johnson, an IHS Global Insight economist and analyst for the NABE survey is quoted in the AP report as stating, “Job losses accelerated in the fourth quarter, and the employment outlook for the next six months has weakened further.”

Among the companies named in Monday’s layoff announcement were, The Home Depot, Pfizer Inc., Sprint Nextel Corp., Caterpillar Inc., and General Motors.