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Recession Roundup: Monday Edition

by Tim Stevens on January 26, 2009 at 03:23 PM


It wasn't that long ago that Monday mornings in the office were a depressing time -- another cheerful weekend gone; another long week of work ahead. But, these days, being in the office on a Monday is a good thing, because if your login still works you've survived another scary layoff Friday. Spare a thought, then, for those whose system access has been cut off, including 1,300 from Sun (the first wave of a total of 6,000 planned job cuts), 8,000 workers at Sprint who are due to receive pink slips, 6,000 from Philips, and an unannounced number of IBM workers (rumored to be 16,000) who have also found themselves to be on the wrong side of the cost-cutting ax.

In one final bit of cheery news, AMD has reported a $1.4 billion loss in the fourth quarter of 2008 and, after shedding its handheld graphics unit, is now selling its manufacturing operations to Advanced Technology Investment. Oh, sorry, you were hoping for some genuinely good news? How about this: that loss is smaller than AMD's $1.8 billion loss from the same time last year. Now have a great day!

Read - Sun confirms 1,300 layoffs
Read - Sprint Nextel Plans to Cut 8,000 Jobs in Quarter
Read - Philips to Release 6000 Employees into Wild
Read - Several IBM employees report being laid off on Alliance@IBM
Read - IBM Confirms Layoffs
Read - AMD Reports $1.4 Billion Loss

Tags: business, economic crisis, EconomicCrisis, layoffs

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