WTF Is It Now?!?

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The Bush recoverination

SBC to cut 3,000 to 4,000 jobs. In the past two years, the company has eliminated 28,000 jobs to offset an industrywide slump triggered by a global economic slowdown and intensified competition.

Struggling department store chain J.C. Penney plans to close 12 more of its department stores by the end of the year. In its quarterly report filed late Monday, the retailer said it would have closed a total of 25 of U.S.-based department stores by the end of the year, with 13 of the closings having already taken place.

Washington Mutual, the biggest U.S. thrift, plans to fire 2,900 of its mortgage lending and administrative staff in the first quarter as gains from home loans decline.

Tyson Foods said it is closing two meat processing plants in New Hampshire and Maine, putting more than 700 people out of work in February.

Struggling drug maker Schering-Plough Corp. said Thursday (12/4) it will slash at least 10 percent of its payroll expenses in a cost-cutting move that could cut an additional 2,000 jobs.

FAO Schwarz, which announced this week it had filed for Chapter 11 bankruptcy, may have to close some of its stores. 4,900 jobs will likely be lost.

Newell Rubbermaid Inc. said Tuesday it expects to post a fourth-quarter loss and lowered its 2003 and 2004 earnings estimates. It also announced that it will eliminate 850 jobs in Wooster, Ohio, once the showpiece headquarters city of Rubbermaid Inc.

Santa Clara County supervisors may have to cut 2,500 employees to offset an anticipated deficit of $381 million to $481 million in the upcoming fiscal year.

- - seen at the BC Forum.