........Thousands more jobs cuts were announced Monday.

Pharmaceutical giant Pfizer Inc., which is buying rival drugmaker Wyeth in a $68 billion deal, and Sprint Nextel Corp., the country's third-largest wireless provider, said they each will slash 8,000 jobs.

Home Depot Inc., the biggest home improvement retailer in the U.S., will get rid of 7,000 jobs, and General Motors Corp. said it will cut 2,000 jobs at plants in Michigan and Ohio due to slow sales.

Caterpillar Inc., the world's largest maker of mining and construction equipment, announced 5,000 new layoffs on top of several earlier actions.

The latest cuts of support and management employees will be made globally by the end of March. An additional 2,500 workers already have accepted buyout offers, and ties have been severed with about 8,000 contract workers worldwide.

In addition, about 4,000 full-time factory workers already have been let go.


Full story at:

http://news.yahoo.com/s/ap/20090126/ap_on_bi_ge/business_outlook

My company recently cut 14% of it's workforce, closing one plant. I am fortunate that my plant is getting the work from the closed one & we have OT.

It's getting bad. Stores are closing in my city. The latest big one is Macys. The little stores have "For Sale" signs up.

I just read that GM is laying off 2,000. Heavy sigh.