AP: Mass layoffs to accelerate in 2009 at furious pace

[marmar]

AP via Yahoo!:



Mass layoffs surge in 2008, continue at rapid pace
By CHRISTOPHER S. RUGABER, AP Economics Writer


WASHINGTON – Mass layoffs involving 50 or more workers increased sharply last year, and large job cuts appear to be accelerating in 2009 at a furious pace.

Boeing, Pfizer, Home Depot and other U.S. corporate titans have announced tens of thousands of job cuts this week alone.

The economy is likely to continue to shed jobs for the rest of this year, even if an economic stimulus bill pushed by President Barack Obama is approved, economists said.

The Labor Department reported Wednesday that 21,137 mass layoffs took place last year, up from 15,493 in 2007. That's the highest annual total since 2001, the last time the economy was in recession, and the second-highest since the department began tracking mass layoffs in 1995.

More than 2.1 million workers were fired as a result of last year's mass layoffs, the department said. ........(more)

The complete piece is at: http://news.yahoo.com/s/ap/20090128/ap_on_bi_go_ec_fi/economy