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| Jan 19, 2009 |
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| Industries in this issue |
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| General Electric, the world's leading jet-engine maker, will eliminate 1,000 jobs this year in the GE Aviation division. The company cites a slowdown in orders and the need to integrate recently-acquired Smith Group as reasons for the job cuts, which it plans to achieve through attrition, voluntary departures, and retirements. |
| Candidates: 1,000 |
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| Aerospace giant Boeing will eliminate 4,500 U.S. jobs in 2009, mostly in its Commercial Airplanes unit, as it struggles to remain competitive amid a weak global economy. Some job cuts will be achieved through normal attrition and a reduction in contract labor. |
| Candidates: 4,500 |
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| In response to slow global car sales, Honda, Japan's second-largest car maker, will cut 3,100 jobs in Japan and not renew contracts with temporary workers. Honda is also slashing domestic production by 56,000 vehicles. |
| Candidates: 3,100 |
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| UK-based luxury automotive maker Jaguar Land Rover, a subsidiary of Tata Motors of India, will cut about 300 management jobs and 150 salaried agency jobs worldwide in response to what it refers to as a "severe" drop in demand. Management bonuses have also been eliminated, and management salary increases have been deferred until October 2009 at the earliest. |
| Candidates: 450 |
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| Alcoa, one of the world's leading aluminum producers, will reduce its global workforce by 13 percent. The announcement follows news that Alcoa posted a larger-than-expected fourth-quarter loss as a result of the weak global economy and lower commodity prices. |
| Candidates: 13,500 |
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| Logitech International, a leading maker of computer peripherals, will cut 15 percent of its non-manufacturing jobs and may reduce factory jobs as well. Citing a weakness in demand as a result of the global economy, the Swiss company has also abandoned its profit targets for 2009. |
| Candidates: 500 |
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| Salary.com, a leading provider of on-demand salary software perhaps best known for its signature Salary Wizard, has reduced its staff by 100 employees, including two vice presidents. The company says the 16 percent reduction in workforce is "in response to the current and anticipated macroeconomic uncertainties," The Boston Globe reports. |
| Candidates: 100 |
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| After posting the worst sales figures in nearly a decade, British department store chain Marks & Spencer has announced it will close 27 stores, which will result in worker layoffs. The retailer will also eliminate approximately 450 positions at its corporate headquarters, for a total of as many 1,230 jobs. |
| Candidates: 1,230 |
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| Health insurer Cigna will reduce its workforce by about 4 percent and consolidate certain operations in response to economic conditions. Job cuts are expected to be completed by mid year. |
| Candidates: 1,100 |
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| Google, the company whose name has become synonomous with Internet search, is feeling the impact of the economy. The company has announced it will close three engineering offices, consolidating operations that may result in lost jobs. Because it is hiring less employees, Google will also reduce its full-time recruiting staff by 100 employees. |
| Candidates: 100 |
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| Pharmaceutical giant Pfizer will lay off about 8 percent of its research staff as it reorganizes. The rising cost of drug development and tougher regulations impact pharmaceutical companies in general. Pfizer also faces increased pressure because its top-selling drug, Lipitor, loses patent protection in 2011. |
| Candidates: 800 |
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| Facing some of the most difficult challenges in its 84-year history because of the economy, upscale clothier Saks will reduce its workforce by about 9 percent, cutting both corporate and store positions. Saks will also eliminate merit-based pay raises this year and suspend matching 401(k) contributions. |
| Candidates: 1,100 |
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| Volvo AB |
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Truck, Bus & Other Vehicle Manufacturing |
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| Volvo, the world's second-largest truck maker, has announced another round of job cuts in response to slow sales resulting from the economy. The company will eliminate more than 1,600 jobs in Sweden, mostly in its truck division. |
| Candidates: 1,620 |
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| Motorola, a leading maker of cell phones, has announced it will slash another 4,000 jobs in an effort to reduce expenses. These job cuts are in addition to the 3,000 announced last year. |
| Candidates: 4,000 |
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