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5 Big-Name Companies Cutting Jobs

Mass layoffs are more proof that jobs crisis is far from over

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layoffsIt was hardly shocking when BlackBerry (BBRY), which continues to circle the drain, announced plans to cut 40% of its workforce in September — 4,500 layoffs in all.

But the dying smartphone pioneer isn’t alone — plenty of other companies are struggling.

In the past few months, numerous big-name companies have announced plans for big-time layoffs. They see layoffs as a way to cut costs and boost profitability in the absence of substantial organic growth.

Of course, large layoffs also create a bit of a self-fulfilling prophecy. Organic growth — both here and across the pond — probably won’t start revving until employment crises come to an end. And yet unemployment is exasperated by that original lack of organic economic growth.

It’s not a pretty landscape, but it’s worth zooming in on anyways. Here are five companies that recently announced large layoffs.

Article printed from InvestorPlace Media,

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