7 Biggest Layoff Proclamations of 2012

6. Food Lion

Food Lion owned by Delhaize America planed to shut 113 underperforming Food Lion stores and the decision ultimately resulted in sacking 4,900 jobs out of the total work force of 107,000. The company also further plans to close some of its Bloom grocery stores as well.

Though the layoff plans were announced but the company also said that the company will consult with public agencies to help the employees find jobs and most of them will be employed in the converted stores.

7. JC Penney

Seems like the decade old strategies of discounting offers over weekends failed to improve the underperforming stock value of the J C Penny Company. And as the cost cutting action starts, the first step was to sack 4,700 employees. CEO Ron Johnson made the decision stating “Obviously, there’s an opportunity to rethink how we do things,” quoted Wall Street Journal. The CEO further added, “If you only change prices once a month, there’s nothing for them to do,” Johnson said. “All of those hours can go to serve the customers, or you can make your business a little more economic.”

Also Read:
Business Events Which Made Headlines In 2012
Lessons to Learn From These 5 CEO Blunders