Layoffs Abound: Cat (CAT) Cutting 20K, Sprint (S) Cutting 8K, Home Depot (HD) Cutting 7K
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We're seeing a plethora of job cut announcements this morning, including:
- Caterpillar (NYSE: CAT) - cutting 20,000 jobs
- Sprint Nextel (NYSE: S) - cutting 8,000 employees
- Home Depot (NYSE: HD) - reducing its workforce by 7,000 jobs
- Altus Pharmaceuticals (Nasdaq: ALTU) - cutting 75% of its total headcout
- Starbucks (Nasdaq: SBUX) - hearing reports from the Seattle Times that the trendy coffee-brewer could layoff as many as 1,000 jobs.
- Pfizer (NYSE: PFE) - cutting its workforce by 10%.
UPDATE: After the close today, Texas Instruments (NYSE: TXN) issued its Q4 earnings report, also announcing that it will reduce about 12% of its workforce. Quiksilver (NYSE: ZQK) also was out saying it will reduce its headcout by 200 jobs.
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