The slowdown from a dangerous pace, with thousands of new Layoffs Monday some of the biggest names in American business, Caterpillar and announced by Home Depot's killing jobs. More pink, freezes and other companies hit hard on pay Slips month looking for ways to survive in the form of workers are expected to slam.
"We just" the tip of the iceberg big firms are looking at Rebecca Braeu, an economist at John Hancock Financial Services said. "Certainly them down as the workers will have to hurry to other firms or too quickly." Looking ahead, economists at least 2 million jobs _ an estimated net loss this year, possibly more _ if increased government spending of President Barack Obama and $ 825 billion tax cut package is enacted. Last year, the economy is a net 2.6 million jobs, the most since 1945, although significant work force has grown since then lost it. A 16-year high 7.2 percent unemployment rate, now, 10 percent or more at the end of this year or early next year, some analysts' estimates under can kill. Obama Congress on Monday enacted a plan to speed his recovery to the nation "" or "can not tolerate delay Distractions warning call."
The slowdown this year with more to pull through, more damage will be inflicted both companies and workers expected. The mounting toll in Monday as the U.S. and about 40,000 workers had shown serious news. Pharmaceutical giant Pfizer Inc., which is a $ 68 billion deal to buy rival drugmaker Wyeth is, and Sprint Nextel Corp., the country's third largest wireless provider, they will each slash 8,000 jobs. Home Depot Inc., the largest in the U.S. home improvement retailer, will get the jobs of 7000, and free the General Motors Corporation plants in Michigan and Ohio because of slow sales in 2000 will cut jobs. "We in the labor market are seeing no improvement," year, Guatieri, BMO Capital Market Economics senior economist said. "This year, as last year in the form of evil in the sight of Layoffs could be."
The status of trade, Caterpillar Inc., mining and construction equipment to the world's largest producer, in response to deteriorating, most of which already has been cut nearly 20,000 jobs have been. They white collar workers, the world level by the end of March 5000 will be the new place Layoffs are involved. Earlier, in December announced a Buyout proposed action through the eradication of 2500 Caterpillar workers included, about 8,000 contract employees and Temp Agency and the end of 4000 through Firings Buyouts and full-time shortage of staff of the factory. Texas Instruments Inc., the cell phones and other equipment to make chips, 3,400 jobs will be cut because of Slumping demand. The Dallas-based company Monday Layoffs through it and your work force will slash jobs, 12 per cent 1800 and 1600, said a voluntary departure and Retirements through. And Brooks Automation Inc. said it plans to receive 350 jobs, or 20 per cent of the Task Force got rid of. The Brooks, the software for chip makers and equipment makes for the second round of cuts will be.
Although Oilfield service provider Halliburton Co. did not provide this information in the market especially hard hit in the recession, jobs will end. The last major rival Schlumberger Ltd. week in the first half of 2009 to cut 5,000 jobs worldwide to cut and will consider this spring said. Flurry of big name companies Layoffs by similar action on the heels of last week comes. Microsoft Corp. of the 5,000 jobs over the next 18 months will slash. Intel Corp. manufacturing jobs cut in 6000 it will be asked to. And United Airlines parent UAL Corp. said it will be 1000 jobs, 1500 axed late last year over rid of. And there is no end in sight. National Association of Business Economics, forecasters in a survey by 39 per cent for the next six months, the attrition or "significant" layoffs through job cuts in the last survey in October from 32 per cent predicted. Almost 45 per cent in the current survey plans no change in hiring anticipated. About 17 per cent thought that would increase hiring.
Placement firm Challenger, Gray and Christmas, a new report by the measures that companies often for a creative combination of layoffs _ beyond cost reduction to change are found. Those measures Freezes or pay cuts, vacation, Travel Cutbacks and the abolition of the end of the year, including bonuses force.
Downturns in the past as in, just because he is very detail during the recent hiring has not in the form of "as many companies cut their deep Payrolls can not," John Challenger, the firm the chairman said. "As a result, they reduce the cost to explore the options are forced to." All the economic news Monday was as serious. Owned homes in December before a different barometer of economic activity, and each log unexpected benefit of the sale. But economists as signs of improvement did not see them. "In the box in the wine cellar and party hats on," Bernard Baumohl, head of the World Economic Outlook Group economist said. "This set of data a month and they tell us a little about the future."Economists home buyers rapidly Uptick in sales prices was due to drowning. Second report, a government of the country on a large scale in the supply of money affected the results influenced balloon. Wall Street has closed the upper middle. The Dow Jones Industrials percent, to 8116.03, negative in the short ahead after 38.47, or 0.48 roses. National Association of Realtors existing home sales of 6.5 per cent from 4.74 million last month to an annual rate has increased. Dramatically less than the value of buyers, California, Florida and Nevada, as in the States, especially where disturbed Foreclosures are soaring took advantage.
The nationwide median sales price to $ 175,400, down 15.3 percent from a year ago drowned. The record going back to 1968 but marked the biggest annual drop. In the meantime, where more than half the homes and half sell for less to the middle point. All of last year, existing home sales for more than 13 percent below last year, and the lowest since 1997, a total 4.9 million. Meanwhile, the economic activity of the Conference Board's monthly forecast in December rose 0.3 percent. But it's mainly a pickup that federal efforts to expand the money supply because of the debt crisis, was impressed with the rest. If the jump in the supply of money were excluded, the Board's index would have fallen sharply, economists said. National economy, meanwhile, refused to continue. Many analysts economy with the pace of 5.4 percent in the fourth quarter when the government released a report Friday that the contract would be predicted. If they are right, that in the first quarter of 1982, a decline of 6.4 percent since the mark is the worst performance. Now the economy is now the contract _ with the pace of nearly 4 percent, according to some estimates.