American Airlines is sending layoff warning notices to more than 11,000 employees although a spokesman says the company expects job losses to be closer to 4,400. The notices went out to mechanics and ground workers whose jobs will be affected as American goes through a bankruptcy restructuring.
Best Buy has a big plan to cut its costs and regain its focus: closing stores, laying off employees, shifting its focus to smartphones and mobile gadgets, and slimming down margins. Only problem is, none of that is going to save it.
Companies that develop medicines have been bleeding jobs in the last few months, with three -- Biogen Idec, Charles River Laboratories and NicOx -- announcing about 1,000 new workforce cuts this week. When will the bleeding stop?
Since the recession began, more than 8 million Americans have lost their jobs. But perhaps even more surprising is the small number of companies that are responsible for laying off such a large percentage of today's unemployed workers.
