10 US companies with the largest number of job cuts
January 7, 2013 2 Comments
By Dyah Megasari
Its latest is Citigroup, the giant Uncle Sam bank plans to cut 11,000 employees who, though apparently not the biggest.
Who topped the list? Here are 10 US companies to lay off employees in large numbers:
1. Hewlett-Packard Co. (HP)
Although Citigroup announced the baffle on Wednesday (12/05/2012), HP is the leader of a workforce reduction in 2012. Citing the data Challenger, Gray & Christmas Inc., in May, a company based in Palo Alto, California, is to lay off 27,000 employees in order to save money as much as 3.5 billion U.S. dollars.
May this year is the peak HP adversity. Management admitted that computer manufacturers are the most vulnerable to the crisis shaken during the year. HP’s stock collapsed more than 45 percent so far this year.
2. Hostess Brands
Hostess Brands is the company’s second most widely laying off employees. Maker of Twinkies and Wonder Bread icon at the end of November it was announced that it would eliminate 18,500 jobs as its assets liquidated. Employees strike paralyze production after 5600 business owners and workers’ representatives failed to reach a contract agreement.
3. AMR Corp
American Airlines parent company is planning to lay off 14,000 people. But in September, that number shrank to 11,000 people. Layoffs is the impact of the bankruptcy of the company. Finally, American Airlines and U.S. Airways Group Inc. merged.
Bank of America is the big fish in the number of job cuts led to the financial institution. Yesterday, Citi announced it would cut 11,000 workers in order to save operating costs of $ 1 billion.
Reduction of these workers under the control of a new chief executive, Michael Corbat, substitute Vikram Pandit who resigned in October.
5. PepsiCo Inc.
In February, Pepsi announced plans for global job cuts as much as 3 percent. The amount is equivalent to 8700 workers. With the layoffs, the Pepsi can cut costs by 1.5 billion dollars in 2014.
6. JC Penney Co
Back to January, JC Penney Co. announced a restructuring of the company’s management which impact on cutting the number of employees to 4,700 people. January believed to be the second most active month with the condition that many companies are reducing the number of employees.
7. MetLife Inc
Just opened in 2012, MetLife Inc. has made an announcement that concern. A total of 4300 employees will lose their jobs. MetLife Inc. plans to remove the housing finance business (mortgage) and will focus on the insurance business.
8. Procter & Gamble Co (P & G)
In 2012, the manufacturer fulfilling household announced it would eliminate 4100 employees. Removal of the number of employees will begin in fiscal year 2013. This is a saving measures worth 10 billion dollars for the next four years. Competitors, Colgate Palmolive, also laid off 2,300 employees.
9. Google Inc
Who would have thought, a company synonymous with the search engine giant in the virtual world is also not spared from layoffs. However, employees are not deducted from the Google core, but from the newly acquired companies, namely Motorola Mobility.
4,000 Motorola workers lost their jobs after Goggle control of those shares. Pruning is also valid for Motorola employees who are outside the United States.
10. Morgan Stanley
After Citigroup, Morgan Stanley is the second financial institution in the land of Uncle Sam that houses employees. A total of 7 percent of the number of employees or 3,200 people no longer work there. Stock market conditions that make profanity shrinking customer interest.
(Source Kontan, Kompas /Images wikipedia)