The National Semiconductor Corporation said yesterday that it would cut about 550 jobs, or about 6 percent of its global work force, as it copes with an inventory buildup and lower demand.
U.S. and European stock markets fell Monday after Citigroup Inc. said it would cut another 53,000 jobs around the world in the coming quarters to deal with the fallout from the financial crisis.
Sun Microsystems, one stalwart of the industry, said on Friday it would cut up to 6,000 jobs, 18 percent of its workforce.
Nissan Motor Co
Nissan Motor Co is planning to slash 2,500 jobs abroad and 1,000 temporary positions in Japan as it plans to reduce vehicle production this year by 200,000 units in Europe, Japan and North America.
Motorola Inc
Motorola Inc has decided to cut its global workforce by laying off 3,000 employees. Motorola has reported a quarterly net loss of nearly $400 million.
Walt Disney Co
The Walt Disney Co is also planning job cuts. However, the company is tightlipped about the restructuring plans.. There has been a 44 per cent rise in jobless claims compared to last year.
Chrysler
American auto giant Chrysler in its latest round of job cuts said it would slash 1,825 jobs. The company has incurred losses of $1 billion in the first half of the year
Xerox Corp
The company has slashed 8,800 jobs since 2005, including 1,500 so far this year. The falling profits have further deteriorated the company’s financial position.
Fujifilm
Fujifilm announced that it would cut 1,250 jobs at its printer unit, Fuji Xerox Co as demand dropped. The company has also reported a 25% drop in profits in 6 months.
