U.S. Employers That Made The Most Job Cuts In 2012
Job cuts: 8,700
The beverage-and-snack giant announced its plans to cut 8,700 jobs in February as part of its plan to reduce costs by $1.5 billion. The layoffs affect workers in 30 countries, with fewer than 2,000 of the cuts expected to occur in the U.S., where the Purchase, N.Y.-based company has some 100,000 employees. Globally, PepsiCo employs three times that number and the announced cuts account for 3 percent of the company's total workforce.
(C) Job cuts: 11,000 Among the latest companies to announce job actions, the banking giant announced this month that it plans to eliminate 11,000 positions, as it seeks to shrink the size of its business and become more profitable. The cuts amount to about 4 percent of the bank's workforce and carry the fingerprints of Citigroup Chairman Michael O'Neill. The banking industry veteran has a history of ruthlessly shedding businesses that aren't earning enough money. American Airlines Job cuts: Up to 14,000 In February, American Airlines parent company AMR Corp. (AAMRQ) announced plans to cut 14,000 jobs as part of its bankruptcy organization. By September, that number had been whittled down to a about 11,000 workers, who were advised they may lose their jobs by year-end. The company said, however, that it expects fewer than 40 percent of those it sent notices to, or 4,400 people, would actually be laid off. About 800 employees had agreed to leave the carrier voluntarily, American said, moves that are expected further reduce the number of layoffs. Hostess Brands Jobs cuts: 18,500 The iconic maker of Twinkies and Wonder Bread said in late November that it wouldeliminate 18,500 jobs as it liquidates its assets and sells off its familiar brands. Strikes crippled the company after it and the union representing some 5,600 bakers failed to reach an agreement during contract negotiations. Hewlett-Packard Co. (HPQ) Jobs cuts: 27,000 The legendary computer and printer manufacturer announced plans in May to cut 27,000 workers, and then revised the total to 29,000 by 2014, equaling more than 8 percent of its workforce. HP has said that it will likely cut 11,500 jobs by the close of fiscal 2012, which ended Oct. 31.
More From AOL Jobs 10 Tips to Avoid the Flu at Work Best Cities For Young Workers Layoff Rumors? How To Prepare For The Worst
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV