Just in, Microsoft plans to eliminate up to 5,000 positions over the next 18 months.
The news follows an 11% drop in net income.  Revenue increased 2% to $16.63 billion (still not bad from my perspective, given the adoption issues with Vista, and what seems like a speed up in development of “Windows 7″).  Net income [...]

We’ve been following job cuts here quite a bit, here’s an amazing number:
693,000 jobs cut in December 2008
According to an article on Reuters, Private job losses mount in December — the job cuts in December were up sharply from November.  Added to the fact that most employers would want to avoid cuts during the holiday [...]

The most jobs lost in 34 years.
This doesn’t even take into account the recent layoffs in December.
According to November: Most jobs lost in 34 years, we’re in for one hell of a new year.
While unemployed jumped to 6.7%, that is just shy of estimates of 6.8%.  If you can take that as a good thing.
Not [...]

CNBC reported, Jobs Cuts in BofA-Merrill Merger May Reach 30,000.
Now we’re adding Bank Of America to the list?
Going to be some depressing Christmas parties out there.
Take a look at some more depressing news from Seven Corporate Developments, at The Path to the Pegasus Letter.

More job cuts (it just doesn’t stop) … at least this one isn’t only in the US. Â
Credit Suisse announced an additional 5300 jobs to be cut from its global workforce.  This comes after already losing 1800 jobs this year.
That accounts for 11% of the Credit Suisse Work force.
So we have layoffs in:

Credit Suisse – [...]

AT&T (NYSE:T 29.08 on 12/04/2008) just announced that they will be cutting 12,000 jobs.  The layoff will total 4% of the workforce.
Is this another “we can get in under the radar”?  I don’t think so.  After all, it’s getting coverage everywhere.
Reported on CNN Money, AT&T to slash 12,000 jobs, AT&T attributed the staff cuts to [...]

Where’s FuckedCompany.com when you need it?
In a press release announced on adobe.com, Adobe will be laying off roughly 600 full-time positions globally. Â
Adobe, a crucial partner in the realm of Apple, is not going to have a booth at Macworld this year. Â
In talking with some friends in larger companies, they have said that even [...]

We have been following the JP Morgan / WaMu story for a while (there should be some related links below).
According to the BBC, JP Morgan Axes 9,200 jobs at WaMu.
WaMu, Washington Mutual, was the largest US bank to fail.  It was sold by regulators to JP Morgan at the bargain price of $1.9 billion. Â
4000 [...]

Bloomberg.com reports Citigroup’s Pandit to Reduce Headcount by 50,000, Cut Expenses.
After many other job cut announcements, Fidelity cuts 1300 jobs (and many more job cuts), here comes a big one.  Citigroup announces that it will reduce expenses by 20 percent, and cut 14% of its workforce. Â
Citigroup (NYSE:C 9.52 on 11/17/2008) is helping the rest of [...]

In another move that should scare even the most optimistic economist (is that an oxymoron?), Fidelity will cut nearly 1300 jobs this month (as reported by CNN Money, Fidelity to cut nearly 1,300 jobs).
According to the article, a second round of layoffs is planned for the first 3 months of 2009. Â
With all of these [...]

Let the carnage begin.
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As the crisis continues, institution like Bank of New York-Mellon Corporation who announced this week a decline in third-quarter earnings, are looking for ways to cut expenses. Â
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As they evaluate the current business environment and decide where their business is going, many will look at all alternatives including head count at [...]