Job Loss Galore in the U.S.

Layoffs Keep Growing—Is Your Firm On the List?

Even on Inauguration Day, companies continued to announce layoffs, reinforcing the economic challenges facing Barack Obama as he takes office.

Bank of America may slash as much as 4,000 jobs as it absorbs Merrill Lynch, the Financial Times reported Tuesday.

Rohm and Haas and Cerberus Capital Management also announced big cuts in staffing.

Analysts believe the job cuts are far from over.

“The experience of previous deep recessions suggests (jobless) claims are nowhere near their peak, and we doubt that peak will be reached before the fall of this year,” said Ian Shepherdson, chief U.S. economist for consulting firm High Frequency Economics.

Shepherdson said in a research note that weekly jobless claims could reach 750,000 later this year.

List of Jobs Being Cut

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s