U.S. Employers That Made The Most Job Cuts In 2012
Job cuts: Up to 14,000
In February, American Airlines parent company AMR Corp. (AAMRQ) announced plans to cut 14,000 jobs as part of its bankruptcy organization. By September, that number had been whittled down to a about 11,000 workers, who were advised they may lose their jobs by year-end. The company said, however, that it expects fewer than 40 percent of those it sent notices to, or 4,400 people, would actually be laid off. About 800 employees had agreed to leave the carrier voluntarily, American said, moves that are expected further reduce the number of layoffs.
Jobs cuts: 18,500
The iconic maker of Twinkies and Wonder Bread said in late November that it wouldeliminate 18,500 jobs as it liquidates its assets and sells off its familiar brands. Strikes crippled the company after it and the union representing some 5,600 bakers failed to reach an agreement during contract negotiations.
Hewlett-Packard Co. (HPQ)
Jobs cuts: 27,000
The legendary computer and printer manufacturer announced plans in May to cut 27,000 workers, and then revised the total to 29,000 by 2014, equaling more than 8 percent of its workforce. HP has said that it will likely cut 11,500 jobs by the close of fiscal 2012, which ended Oct. 31.
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