Can the U.S. economy and the American people handle another major economic downturn?
Some of the biggest names in the business world have announced job cuts in recent weeks. The following are 15 signs that layoffs and job losses are skyrocketing…
1. Dow Chemical has announced that it will be closing about 20 plants and will be letting about 2,400 workers go.
2. Colgate-Palmolive has announced that they will be eliminating about 2,300 jobs.
3. DuPont has announced plans to eliminate about 1,500 jobs.
4. Ford has announced that it will be eliminating 6,200 jobs and will be reducing production capacity in Europe by 18 percent.
5. Hewlett-Packard announced last month that they plan to eliminate 29,000 jobs.
6. Chip maker AMD has announced that they will be getting rid of about 15 percent of their workers.
7. Sony has announced plans to reduce their workforce by about 2,000 workers.
8. Electronics manufacturer Sharp reportedly plans to eliminate 11,000 jobs.
9. Engine maker Cummins Inc. has announced that they plan to get rid of about 1,500 jobs by the end of 2012.
10. Earlier this month Applied Materials announced a plan that will eliminate up to 1,300 jobs.
11. Zynga (known for making video games for Facebook such as FarmVille) has announced that they are reducing their workforce by about 5 percent.
12. Lattice Semiconductor has announced plans to eliminate about 13 percent of their jobs.
13. Alcatel-Lucent recently announced a plan to eliminate more than 5000 jobs all over the globe.
14. Siemens AG has announced that the number of positions being eliminated may reach 10,000 by the end of the year.
15. Banking giant UBS plans to eliminate up to 5,000 jobs.