10 companies axe 100000 jobs globally - December 9, 2012

HP, Google, Citigroup, Procter & Gamble, Morgan Stanley, AMR Corporation, PepsiCo, MetLife, Hostess Brands and JC Penney Co have together laid off 95500 employees majorly die to cost-cutting reasons.

HP, Google, Citigroup, Procter & Gamble, Morgan Stanley, AMR Corporation, PepsiCo, MetLife, Hostess Brands and JC Penney Co have together laid off 95500 employees majorly die to cost-cutting reasons. HP is downsizing its workforce by 27000, and saving $3.5 billion, Hostess Brands laid off 18500 to increase its liquidity, AMR scrapped 14000 jobs, PepsiCo will lay off 8700 jobs, Citigroup has given pink slip to 11000 employees and P&G will lay off 4100 jobs. Two thirds of Google’s layoffs are going to happen outside USA.

Source: www.financialexpress.com, December 9, 2012. “Ten global cos cut one lakh jobs in 2012, HP tops the list”

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