January 2009 Layoff List
This is a list of the total announced layoffs at America’s 500 largest public companies as measured by a composite ranking of sales, profits, assets and market value during January 2009.
Total Announced Layoffs: 151,352
Cigna: reduces workforce by 4% (1,100 jobs).
United States Steel: cuts 50 jobs as it closes production lines in Texas.
Alcoa: starts global salary and hiring freeze, plans sale of four non-core businesses and cuts workforce by 13% (13,500 jobs).
Aqua Glass (Masco): pink-slips 30 employees.
EMC: fires 2,400 as it reduces 2009 expenses by $350 million.
Union Pacific: pink-slips 230 as company struggles; stock down 22% year-to-date.
Bath Iron Works (General Dynamics): dismisses 179 employees.
Eaton: 78 laid off in Iowa.
Walgreen: cuts 1,000 (roughly 9%) from corporate and field manager ranks.
Oracle: cuts 500 from U.S. sales and consulting businesses.
Boeing: cuts 4,500 and returns workforce size to what it was in early 2008.
Freeport-McMoRan: cuts workforce in half at Arizona mine; 1,550 workers let go.
Smitfield Foods (Butterball): Fires 75 at Missouri plant.
Mosaic: 1,000 employees in Saskatchewan.
Aircraft maker and Textron (Cessna): 2,000 employees fired.
Best Buy: 12.5% of its headquarters staff with 500-employee layoff.
Precision Castparts: dismisses 40 as airline industry continues to struggle.
Cummins: freezes salaries for the rest of the year and lets 800 go.
Pfizer: cuts 800 researchers as it lowers cost in the face of poor performance and coming patent losses.
Ecolab: restructures and reduces workforce by 4% (1,000 jobs).
Delta Air Lines: gives 2,000 early retirements as part of 8% capacity reduction.
Motorola: lays off 4,000 following a 3,000-worker layoff last year; savings of $700 million a year.
Google: fires 100 hirers cutting back on contract workers and temporary employees.
Xerox: cuts 275 jobs in New York region.
MeadWestvaco: fires 2,000 and plans closings or restructurings at up to 14 plants.
Autodesk: expects loss from 2008 fourth quarter; pink-slips 750 (10% of workforce).
Marshall & Ilsley: cuts 8% of staff (830) in ongoing cost-cutting.
General Electric: jet-engine group cuts 1,000 white-collar jobs.
ConocoPhillips: trims capital spending by 18%, writes off $34 billion and reduces workforce by 4% (1,300 jobs).
Hertz Global Holdings: sets out for worldwide restructuring in first quarter of 2009; cuts 4,000 jobs.
WellPoint: reduces workforce by 600 and removes 900 open positions.
Advanced Micro Devices: reduces global workforce by 9% (1,100 jobs).
Clear Channel Communications: reduces workforce by 9% accounting for 1,850 job losses.
Deere & Company: dismisses 120 at Iowa plant.
Burlington Santa Fe: cuts 2,500 workers (5% of workforce).
UAL: fires 1,000 to cut overhead costs.
SPX: attempts to sell a business unit and cuts 400 employees to help endure the downturn.
Intel: closes five manufacturing plants and pink slips 5,000.
Walt Disney: offers voluntary buyouts to 600 theme park executives on poor attendance.
Wynn Resorts: wraps up construction on Las Vegas Strip casino with 53-worker layoff in design and construction affiliate.
Eaton: total workforce reduction since the beginning of last year to 10% with 5,200-worker cut.
Warner Bros. Entertainment (Time Warner): cuts 10% (800) of its jobs.
Microsoft: has first mass layoff in 34-year history; pink slips 5,000.
Huntsman: reduces workforce by 9%; cutting 1,175 regular workers and 490 full-time contractors.
Deere & Company: subsidiary lays off 502 employees.
Abercrombie & Fitch: cuts 50 from headquarters as company leans expenses.
Harley-Davidson: sees 60% drop in profits in fourth quarter of 2008; fires 1,100 (10% of workforce).
Lincoln National: posts five quarterly declines in profit; cuts 540 (5% of workforce).
Caterpillar: announces quarterly profit plunge of 32%; fires 20,000.
Pfizer: closes five factories and cuts 15% of total workforce (19,000 workers).
Sprint Nextel: pink-slips 8,000 workers–recording more than $300 million in severance charges but saving $1.2 billion a year in labor costs.
Home Depot: closes high-end home design shops and slims ranks at headquarters; dismisses 7,000.
General Motors: cuts production at several plants and fires 2,000 in Michigan and Ohio.
Texas Instruments: pink-slips 3,400 (12% of workforce).
IBM: selects 2,800 to participate in its “current resource reduction action.”
AOL (Time Warner): reduces workforce by 10% (700 workers) as it fights declining ad revenue.
Merillat (Masco): cuts 20% of workforce (70 workers).
Starbucks: organizes closings at 900 stores worldwide and fires 6,700 in the process.
Target: cuts 400 open positions and 600 employees on sagging sales.