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.