Body Count: April 2, 2001
04.02.01, 12:40 PM ET
YA REALLY THINK WE AT THE BOTTOM?
I SAY NOT A CHANCE BUT THE LONGS KEEP EXPERIMENTING.
GOOD LUCK IS ALL I CAN SAY.
HERE IS A FEW WEEKS DATA--FOR A TASTE
The latest casualties of the economic downturn:
Chemical giant DuPont (nyse: DD - news - people) will cut 4,000 employees, or 4% of its total workforce, and slow production at less profitable plants to cut costs as the economy slows. Dupont will cut workers from its nylon, Lycra and polyester fiber businesses. In addition to cutting 4,000 permanent jobs, Dupont will shed 1,300 contract workers.
Ford Motor (nyse: F - news - people) will cut 830 jobs, or 0.2% of its workforce, because of slowing sales of its Expedition and Navigator sport utility vehicles. One production shift will be cut at Ford's truck plant in Wayne, Mich. 275 of these employees are being offered new jobs in Wixom, Mich.
Aerospace company Honeywell (nyse: HON - news - people) will lay off 475 employees, or 0.4% of its total workforce, because of the slowing economy. The Morristown, N.J.-based company will cut jobs at its Arizona division. Honeywell said the layoffs are unrelated to its pending acquisition by General Electric (nyse: GE - news - people). -- Marcella Bernhard
Date | Company | No. Of Layoffs | % Of Workforce
April 2 | DuPont | 4,000 | 4%
Focus On The Forbes 500s: DuPont
The Panty Hose Wars
Du Pont On The Forbes 500s
April 2 | Ford Motor | 830 | 0.2%
The Ford Itch
Mercury Lives--Up to a Point
Ford Motor On The Forbes 500s
April 2 | Honeywell | 475 | 0.4%
Wishful Thinking
Honeywell Hooks up With GE
Honeywell On The Forbes 500s
March 30 | Kellogg | 620 | 1%
Deal Of The Day: Kellogg's Elvin Play
Fat Chance
Kellogg On The Forbes 500s
March 30 | Venator | 3,000 | 6%
Struggling Venator Looks To The Web For Salvation
Buy It Retail
Venator On The Forbes 500s
March 30 | R.R. Donnelley and Sons | 120 | 0.4%
R.R. Donnelley and Sons On The Forbes 500s
Layoffs The Week Of March 26, 2001
Date | Company | No. Of Layoffs | % Of Workforce
March 29 | Delphi Automotive | 11,500 | 5%
Low-Cost Supplier
The Autoworker; An Endangered Species
Delphi Automotive On The Forbes 500s
March 29 | SCI Systems | 200 | 0.8%
Singapore Fling
SCI Systems On The Forbes 500s
March 29 | Gateway | Undetermined
Focus On The Forbes 500s: Gateway
Gateway And AOL Ram The Wintel Battleship
Gateway On The Forbes 500s
March 29 | Smurfit-Stone Container | 100 | 0.3%
Psst! Let's Raise Prices!
Smurfit-Stone Container On The Forbes 500s
March 29 | Volvo Group | 300 | 0.6%
Offers That Should Have Been Refused
Volvo Group On The Forbes International 800
March 28 | Nortel Networks | 5,000 | 5.3%
Top Tech Execs: John Roth
No Optical Illusion: Nortel Invests Billions In Fiber
Nortel Networks On The Forbes International 800
March 28 | Disney | 4,000 | 3.4%
Go.com: Just Go, Already
Disney Ditches Go.com
Forbes Faces: Michael Eisner
Walt Disney On The Forbes 500s
March 28 | Bristol-Myers Squibb | 105 | 0.2%
Focus On The Forbes 500s: AIDS Drugs To Africa
Deal-Making In The Brave New World Of Biotech
Bristol-Myers Squibb On The Forbes 500s
March 28 | ADC Telecom | 3,000-4,000 | 14%-18%
ADC Telecommunications: Getting Glitzy
ADC Telecom On The Forbes 500s
March 28 | Kansas City Southern | 170 | 6%
Kansas City Southern Industries on The Forbes 500s
March 27 | LM Ericsson | 3,300 | 3.1%
Forbes Forecast: Ericsson To Dial Up Gains
Ericsson Restructures Mobile Unit
LM Ericsson On The Forbes International 800
March 27 | Nokia | 300-400 | 0.5%-0.6%
How High Is High?
Around-The-Globe: Nokia Mobilizes Market
Nokia On The Forbes International 800
March 27 | Fleet Boston Financial | 80 | 0.1%
Top Of The News: Fleet Lands In New Jersey
Creative Accounting
Fleet Boston Financial On The Forbes 500s
March 27 | Kmart | 500 | 0.2%
Disaster Of The Day: Holiday E-tail Starts Slow
Focus On The Forbes 500s: Kmart Earnings Slip
Kmart On The Forbes 500s
March 27 | Sony | 4,500 | 2.4%
Japan Retools
Sony: Toys Of The Future
Sony On The Forbes International 800
March 26 | Conexant | 1,500 | 17.8%
Forbes Forecast: Goodbye Mr. Chips
Conexant Systems On The Forbes 500s
March 26 | PMC-Sierra | 230 | 15.6%
PMC-Sierra's War Plan: Buy, Buy, Buy
Dog Of The Day: PMC-Sierra
PMC-Sierra On The Forbes 500s
March 26 | Phelps Dodge | 85 | 0.6%
Wealth In The Ground
Phelps Dodge On The Forbes 500s
Layoffs The Week Of March 19, 2001
Date | Company | No. Of Layoffs | % Of Workforce
March 23 | Motorola | 4,000 | 3%
Motorola Slashes 7,000 Jobs
Focus On The Forbes 500s: Motorola
Motorola Cuts 4,000 Jobs
Top Of The News: Motorola Layoffs
Motorola On The Forbes 500s
March 23 | 3Com | 170 | 1.5%
3Com Loses Confidence Vote
Focus On The Forbes 500s: 3Com
3Com On The Forbes 500s
March 22 | Procter & Gamble | 9,600 | 9%
Dog Of The Day: Procter & Gamble
Forbes Forecast: P&G May Clean House
Procter & Gamble On The Forbes 500s
March 22 | Charles Schwab | 3,400 | 13%
Disaster Of The Day: Charles Schwab
Charles Schwab Decrees Three-Day Weekends
Charles Schwab On The Forbes 500s
March 21 | Teradyne | 650 | 6.5%
Head Of The Class
Teradyne: Ready For A Comeback?
Teradyne On The Forbes 500s
March 20 | Oracle | 866 | 2%
Oracle Will Be Next
Oracle Everywhere
Oracle On The Forbes 500s
March 20 | Solectron | 8,200 | 10.3%
Forbes Forecast: Solectron Surprises
Solectron On The Forbes 500s
March 20 | France Telecom | 100 | 0.06%
Disaster Of The Day: France Telecom's Orange IPO
Global One Or Global None?
France Telecom On The Forbes International 800
March 19 | Applied Materials | 1,000 | 4.5%
Trader Wrapup: Applied Materials To The Rescue
Applied Materials On The Forbes 500s |
