Recent Blog Posts
-
Tesla Tests Crossover Market With Model X
Feb 10 20123:50 pm EDT -
Groupon Keeps 'Em Guessing
Feb 09 20128:27 am EDT -
When Business Takes a Same-Sex Marriage Vow
Feb 07 20127:16 pm EDT -
Klout Looks to Take Influence Local
Feb 07 20124:07 pm EDT -
Netflix Faces a Fresh Rival
Feb 06 20122:41 pm EDT -
LivingSocial Losses Shouldn’t Shock
Feb 02 20123:28 pm EDT -
Big Primping at Gilt City
Feb 02 201211:42 am EDT -
How About a Raise?
Jan 31 201211:09 am EDT -
Show Us Your (Wild, Bold, Extreme) Cards
Jan 30 20122:54 pm EDT -
Is Groupon a Daily Deal Bully?
Jan 30 201211:51 am EDT
Mass Layoff Hall of Shame
Citigroup's announcement today that it plans to pare its workforce by 50,000 people -- 14 percent -- earns it a tie for second place in a competition no one wants to win:
Perpetrator of Corporate America's Biggest Mass Layoff.
The outplacement consultancy Challenger, Gray & Christmas, which has tracked layoff announcements since 1993, said that Citigroup's cut matches one by Sears, Roebuck & Co. that year.
At the top of Challeger's list is I.B.M., which pushed out 60,000 people in July 1993.
| DATE | EMPLOYER | INDUSTRY | NUMBER |
| July 1993 | IBM | Computer | 60,000 |
| Jan. 1993 | Sears Roebuck | Retail | 50,000 |
| Nov. 2008 | Citigroup | Financial | 50,000 |
| Jan. 1996 | AT&T | Telecommunications | 40,000 |
| Dec. 2005 | U.S. Air Force | Government | 40,000 |
| Jan. 2002 | Ford Motor Co. | Automotive | 35,000 |
| Jan. 2003 | Kmart Corp. | Retail | 35,000 |
| Sep. 2001 | Boeing Co. | Aerospace/Defense | 31,000 |
| Jan. 2002 | U.S. Postal Service | Government | 29,870 |
| Dec. 1998 | Boeing Co. | Aerospace/Defense | 28,000 |
| Jan. 2001 | Daimler Chrysler | Automotive | 26,000 |
| April 2003 | Alameda Schools | Government | 25,000 |
| June 2005 | General Motors | Automotive | 25,000 |
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
500 Startups Hits New York