Monday's announcement of layoffs just kept coming. By the end of the day, at least 75,000 people were either suddenly out of work or learned their jobs would soon disappear.
A roundup of coverage:
"Home Depot, Caterpillar, Sprint Nextel and at least eight other companies announced on Monday they would cut more than 75,000 jobs in the United States and around the world." (New York Times)
"Since Nov. 1, America's 500 largest companies have said they would hand out 330,815 pink slips." (Forbes)
"More pink slips, pay freezes and other hits are expected to come in the months ahead as companies desperately look for ways to survive.
"We're just seeing the tip of the iceberg — the big firms," said Rebecca Braeu, an economist at John Hancock Financial Services. "There's certainly other firms beneath them that will lay off workers as quickly or even quicker." (Associated Press)
“The economy is deteriorating at a faster clip than even the most dreary forecasts had expected,” said Joseph Brusuelas, an economist..." (New York Times)
"On Wednesday, the tally of mass layoffs for December will be released by the Bureau of Labor Statistics. Already, the bureau says the United States economy has shed 2.55 million jobs since the recession began, pushing the unemployment rate up to 7.2 percent last month." (New York Times)