Globally, one lakh jobs lost in January
By siliconindia   |   Tuesday, 20 January 2009, 00:23 IST   |    3 Comments
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Globally, one lakh jobs lost in January
Bangalore: The New Year did not show up with any positive vibes for employees as nearly one lakh employees have lost jobs in January, 2009. The job loss, happened globally, spread across diverse sectors like retail, telecommunications and automobile. The companies who made job cuts include Alcoa, Motorola and Honda. The highest number of job losses is expected at the collapsed American consumer electronics retailer Circuit City. The retailer, which had earlier filed for bankruptcy protection, has decided to liquidate its assets, leaving the company's nearly 30,000 employees in the lurch. Apart from Circuit City, aluminum company Alcoa has plans to slash 13,500 employees or about 13 percent of its global workforce. Among other major job reductions, Motorola would be trimming its headcount by an additional 4,000 employees, Honda (3,100), Meadwestvaco (2,000), Barclays (2,100), Boeing (4,500), TDK (8,000), Hertz (4,000) and Well Point (1,500). The cellphone maker Motorola decision to cut 4000 jobs would be in addition to the plan to reduce its workforce by 3,000 employees in the fourth quarter. The company in a recent statement said it would "further reduce its workforce in 2009 by approximately 4,000 positions. This reduction will include approximately 3,000 positions associated with the mobile devices business and approximately 1,000 positions associated with corporate functions and other business units". Meanwhile Honda's 3,100 job cuts will be in addition to halting domestic production by about 56,000 vehicles. Even electronics maker TDK has announced it would bring down its headcount by a stunning 8,000 employees.

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