Layoff list. Is your company on it ? (employee, credit, highest)

[heydade]

Markets are braced for more hemorraghing in jobs, with a Friday employment report expected to record 200,00 more jobs vaporized in October. This would push the jobless rate up two—tenths of a point to 6.3 percent.
"Job losses are now likely to run around 150k to 200k per month, with a few whopping declines now and then," Tony Crescenzi, chief bond market strategist for Miller Tabak & Co. LLC wrote in a research note Thursday. Friday's employment report will show job losses of at least 200,000, and could go as high as 250,000.

The private sector registered a larger—than—expected loss of 157,000 jobs last month, according to a report released Wednesday by payroll giant Automatic Data Processing [ADP 34.31 -0.35 (-1.01%) ]and consultancy Macroeconomic Advisers.
The bad news comes after planned layoffs surged to their highest in nearly five years during October, with cuts in the financial and auto sectors leading the charge, according to a report from outplacement firm Challenger, Gray & Christmas.
Job cuts announced in October totaled 112,884, up 19 percent from September, the report said, citing evidence of widespread economic malaise as troubles that began in housing and banking infect the rest of the economy.
ADP also said it revised the number of jobs lost in September to 26,000 from the originally reported loss of 8,000.
Here's a rundown of some of the recently announced job cuts: (source: Reuters, with CNBC staff):

• Fidelity Investments will start laying off about 2.9% of its global workforce later this month—affecting 1,288 workers in the first round from a workforce of 44,4000—and plans to trim more workers early next year.
• Goldman Sachs [GS 80.43 -7.00 (-8.01%) ] notified roughly 3,200 employees this week that they have been laid off, part of previously reported plans to slash 10 percent of the firm's global work force. The move comes after laying off hundreds of support staff and junior bankers in June. The company had a record 32,569 employees in August and the latest cuts reduce headcount to the lowest since 2006.
• At Merrill Lynch [MER 16.34 -1.28 (-7.26%) ], 10,000 employees could be jettisoned as a result of the merger with Bank of America [BAC 20.09 -1.66 (-7.63%) ].
• Bank of America, the second-largest U.S. bank by assets said in June it expected to eliminate about 7,500 jobs over the next two years after the completion of its acquisition of Countrywide Financial Corp, the largest U.S. mortgage lender.
• Barclay's [BCS 11.48 -0.32 (-2.71%) ] plans to cut about 3,000 jobs as it brings Lehman Brothers into its fold. Lehman, which filed for bankruptcy last month, had 26,000 employees. About 10,000 have been given jobs until at least the end of the year.
• The lack of merger and acquisitions and initial public offerings is hitting Morgan Stanley [MS 15.26 -1.80 (-10.55%) ] hard. The U.S. investment bank said on July 31 it was finished cutting jobs, having slashed 4,800 jobs in the past year but some analysts expecy Morgan could lay off 15 percent of its work force.
• Even the more stable JPMorgan Chase [JPM 38.19 -1.03 (-2.63%) ] is looking at cutting at least 10 percent and maybe 15 percent of its workforce. It has over 180,000 employees globally, including 25,000 in investment banking.
• Citigroup [C 11.73 -0.90 (-7.13%) ] cut 11,000 jobs during thir third quarter, which brought the total number of jobs cuts in 2008 to 23,000.
• Wachovia [WB 5.50 -0.48 (-8.03%) ], said in August it would cut 6,950 jobs, 600 more than it had previously disclosed.
• UBS [UBS 14.86 -1.06 (-6.66%) ] said at the beginning of October it would cut another 2,000 jobs at its troubled investment bank. The job losses come on top of 7,000 jobs already cut, about 4,100 of which were in investment banking positions cut in the past year. The bank will have reduced its headcount by more than 10 percent to under 80,000.
• Credit Suisse [CSGKF 31.5 -2.50 (-7.35%) ] has axed more than 1,500 jobs, the majority in investment banking in the last year since 2007, and on Tuesday it said it would cut 500 more jobs.
• HSBC [HBCYF 11.5 -0.35 (-2.95%) ] said late last month it was cutting 1,100 jobs in its investment banking operation, or 4 percent of the workforce.
• Commerzbank [CBK.DE Unavailable () ] announced its plan to cut 9,000 jobs in the wake of its agreement to purchase Dresdner Bank from Allianz [AZ 7.67 -0.90 (-10.5%) ]. About 2,500 jobs of the 9,000 cuts will be outside Germany.
• UniCredit [UNCFF 2.57 -0.43 (-14.33%) ], Europe's fourth-largest bank said in June it would shed 9,000 posts out of 100,000 in Germany, Austria and its domestic base Italy.
• First American [FAF 19.78 -0.60 (-2.94%) ], the largest U.S. title insurer, by reported revenue said last month it cut 1,250 jobs in the third quarter, bringing the total for the year to about 2,950, or 8 percent of its workforce. It has cut roughly 6,500 jobs since the first quarter of 2007.
• National City Corp [FAF 19.78 -0.60 (-2.94%) ] said last week it planned to reduce 4,000 jobs, or 14 percent of its workforce, over three years to save $500 million to $600 million annually by 2011.
• Computer maker Dell [DELL 12.20 -0.57 (-4.46%) ], which is nearing the end of nearly 9,000 job cuts, has asked employees to consider taking up to five days of unpaid vacation, is offering voluntary severance packages and has instituted a global hiring freeze.
• Nissan [NSANF 10.9 --- UNCH (0) ] announced layoffs affecting 2,500 salaried jobs overseas and 1,000 temporary posts in Japan amid plans to cut vehicle productions globally.
• Privately held Chrysler said it was cutting about 5,000 salaried employees. Earlier in the week, it said was slashing 1,825 jobs as the result of plant closings.
• Money manager Janus Capital [JNS 9.33 -1.20 (-11.4%) ] said it would cut 9 percent of its staff a day after rival AllianceBernstein said it would make unprecedented job cuts.
• Xerox [XRX 7.39 -0.32 (-4.15%) ] announced job cuts of 5 percent, or 3,000 positions, due to a "tough business environment."
• Mining equipment maker Terex [TEX 15.01 -0.99 (-6.19%) ] said it would lay off hundreds of workers and suspend its share buyback program to preserve cash.
• Starwood Hotels & Resorts Worldwide [HOT 18.97 -1.22 (-6.04%) ] said it plans to cut an unspecified number of jobs to offset slowing travel demand.
• United Parcel Service [UPS 50.50 -1.94 (-3.7%) ] sees layoffs in 2009 as customers need less shipping due to cutbacks on holiday gift purchases.
• Computer systems vendor Agilysys [AGYS 3.81 0.03 (+0.79%) ] cut three senior management positions and is consolidating headquarters in Ohio.
• Merck [MRK 28.40 -0.32 (-1.11%) ] announced plans on Wednesday to cut 12 percent of its workforce, citing a need to change its business model in order to survive.
• Fidelity National Financial [FNF 8.39 -0.11 (-1.29%) ], which controls one of the largest U.S. title insurers, announced 1,000 job cuts, office closings, a 10 percent pay cut and a 50 percent dividend cut, which comes on top of 1,600 job eliminations in the April-to-June period.
• Biotechnology company Maxygen [MAXY 4.49 0.05 (+1.13%) ] plans to cut nearly 30 percent of its workforce and explore strategic options due to the current financial environment
• Popular Inc. [BPOP 6.75 0.04 (+0.6%) ], parent of Banco Popular, is cutting 600 positions and more than a quarter of its branches in the United States.
• General Motors [GM 4.98 -0.58 (-10.43%) ], which previously said it would reduce salaried employment costs by 20 percent, reportedly plans more layoffs than expected in its salaried and contract workforce. GM also said it is reducing some employee benefits, including 401 k contributions and other programs.

Courtesy of CNBC.com

[Willy-Bill]

I began working for a Company in 1969 and in tough times we would go to a 4 day work week or 32 hours. Saved the Company several times and kept food in our bellies.
I can't imagine why more Companies don't do that today.

[heydade]

Originally Posted by Willy-Bill

I began working for a Company in 1969 and in tough times we would go to a 4 day work week or 32 hours. Saved the Company several times and kept food in our bellies.
I can't imagine why more Companies don't do that today.

I often wonder myself. The same issue was brought up in a separate article on cnbc. Sad.

[dennismpat]

Originally Posted by Willy-Bill

I began working for a Company in 1969 and in tough times we would go to a 4 day work week or 32 hours. Saved the Company several times and kept food in our bellies.
I can't imagine why more Companies don't do that today.

I worked for a case management company a few years ago that began doing this, but not at the particular location where I worked. The manager there laid people off instead. Fortunately for me, I was able to find another job before that happened.

[IonRedline08]

Originally Posted by Willy-Bill

I began working for a Company in 1969 and in tough times we would go to a 4 day work week or 32 hours. Saved the Company several times and kept food in our bellies.
I can't imagine why more Companies don't do that today.

A lot of it is so they can cut the benefits. Right now, after salary, that is the biggest expense that is labor related for every company. Benefits, especially medical, is eating companies alive. They would rather cut someone and save that money, rather than cut everyones hours and yet still pay everyones bennies.

[killer2021]

Nope not on it but then again I make peanuts so I'd say my job is rather stable.

[SmerkyGrl]

Originally Posted by Willy-Bill

I began working for a Company in 1969 and in tough times we would go to a 4 day work week or 32 hours. Saved the Company several times and kept food in our bellies.
I can't imagine why more Companies don't do that today.

Most company employees (especially of financial consulting firms) are salaried. They can work 32 hours, they can work 72 hours, the company is still obligated to pay them the same paycheck. Its in a legally binding contract.

[Willy-Bill]

Originally Posted by SmerkyGrl

Most company employees (especially of financial consulting firms) are salaried. They can work 32 hours, they can work 72 hours, the company is still obligated to pay them the same paycheck. Its in a legally binding contract.

We'd be pretty surprised to the extent people will flex to maintain employment, contract or no. Most Companies feel that they have to be open 5 days a week. So, you can do 5, 6 hour days pretty easy.
Anything is better than nothing.