Bloody Monday: Over 68,000 jobs lost
- Caterpillar to slash 20,000 jobs ( source:Bizjournals.com)
- Home depot to cut about 7000 jobs. Close 34 Expo design center. Decline of 8% in sales
- Pfizer to cut 26,000 jobs
- Sprint-Nextel to cut total 8000 jobs by March 31
- TI to slash its workforce by 3400 employees
- ING to cut 7000 jobs
Nearly 2.6 million jobs were lost over 2008 ( highest since 1945 ). Economist predict recovery by 2nd quarter of 2009.
Other bad news:
- American express earnings plunge 79%
- California jobless rate 9.3 %.
- ING loses $1.3B in 2008
- Intel's last quarter profit's tumbled 90% to $234 million. INtel chairman Craig Barret to step down after 35 years.
Surprise good news
- Netflix profit jumps 45 % as expenses decline
- VmWare reported fiscal fourth-quarter profit that rose 42% from year ago.
- Home sales jumped in Dec 2008
- McDonalds posted weaker fourth quarter results, but still plan to open another 1000 stores in 2009.
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