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Job Loss Far Below Expectations
05/02/08 - 09:25 AM EDT
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While the government figures cheered Wall Street, a litany of high-profile companies have been succumbing to economic pressures and slashing payrolls. Sun MicrosystemsJAVA on Thursday said it was cutting between 1,500 and 2,500 jobs as it swung to a loss in its most recent quarter. United Airlines parent UAL Corp.UAUA slashed 1,100 jobs after it posted a first-quarter loss last month. Wall Street banks like CitigroupC, Merrill LynchMER and Lehman BrothersLEH have all cut payrolls, and many Bear StearnsBSC employees are expecting pink slips after its merger with JPMorgan ChaseJPM goes through.
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