Job Cuts | featured news

Sprint Nextel is eliminating 8,000 jobs in the first quarter as it seeks to pare costs by $1.2 billion a year.

CHICAGO (Reuters) - Caterpillar Inc said on Monday that quarterly earnings fell more than 32 percent and warned of a tough year ahead as the downturn that began in the United States metastasized into a full-blown global recession that hit sales of its earth-moving equipment.

An anemic ad market is expected to depress the Web portal's Q4 earnings.

India-owned Corus - Europe's second-largest steelmaker - is to axe 3,500 jobs worldwide, the BBC learns.

Harley-Davidson said it will cut about 1,100 jobs over the next two years, as the motorcycle builder posted a 58% fall in net income following continued woes in its financial-services unit and slumping demand.

On a day when Microsoft announced 5,000 layoffs, the 7 or so people losing their jobs at Digg may seem like a drop in the bucket. But that represents about about 10 percent of Digg's 75-person workforce, whereas the 5,000 at Microsoft represents 5 percent.

Microsoft Corp posted quarterly results that missed Wall Street expectations, announced it would cut up to 5,000 jobs and said it could no longer offer profit forecasts for the rest of the fiscal year.

United Airlines, one of the leading U.S.-based carriers, said Wednesday it will cut an additional 1,000 jobs to reduce overhead costs.

Germany's largest retailer, Metro, is planning to cut 15,000 jobs or 5% of its workforce due to the economic slowdown.

Microsoft Corp is considering significant layoffs across its various divisions, The Wall Street Journal reported on Wednesday, citing people familiar with the company’s plans.