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Recession roundup: volume eleventeen zillion

Laura June

We're getting rather tired of having to "roundup" the misery, loss of profits, and layoffs in this modern era of plenty and luxury, but there's seemingly no end in sight, so here we go. Texas Instruments announced plans to cut 12 percent of its workforce (apparently as a safety measure as its profits last quarter actually topped analysts' estimates). Meanwhile, Panasonic's announced some modest cuts of roughly 600 workers, in addition to closing some of its plants in Asia as it posted a net loss for the first time in six years. Moving on, Hewlett-Packard's laying off nearly 25,000 people in a "restructuring" scheme, while those IBM losses we've been hearing about (and which have been rumored to number nearly 16,000) are now quietly happening in several locales across the U.S. Finally, big boxer Best Buy's just confirmed impending cuts at their headquarters in Minneapolis, but won't release any hard numbers until February. Seriously, world: the future is disgusted with us.

Read - Texas Instruments cutting jobs
Read - Panasonic to cut 560 jobs, close plants
Read - IBM, HP quietly cut thousands of jobs
Read - Best Buy plans layoffs at headquarters

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