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10 companies that have announced most job cuts

October 15, 2013 11:45 IST
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Companies around the world have either stopped hiring or are sacking employees to reduce cost and improve their balance sheets.

Let's have a look at companies that have laid off most employees.

Source: 24/7 Wall St

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Photographs: Reuters
Related News: 1

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10 companies that have announced most job cuts

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JPMorgan Chase & Company

Job cuts: 19,000

Number of employees: 254,063

Year-to-date share price change: Plus 15.7 per cent

Overall rank in job cuts: 1

JPMorgan Chase & Company, the biggest bank in the United States by assets, posted revenue of $97.03 billion.

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Image: A view of the headquarters of JP Morgan Chase & Co in New York City.
Photographs: Mike Segar/Reuters
Related News: United States

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JC Penney Company

Job cuts: 15,020

Number of employees: 116,000

Year-to-date share price change: Minus 60.6 per cent

Overall rank in job cuts: 2

JC Penney Company, which runs chain of department stores, posted revenue of $17.2 billion.

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Image: A woman shops for jeans at a JC Penney store in New York City.
Photographs: Shannon Stapleton/Reuters
Related News: JC Penney Company

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International Business Machines

Job cuts: 9,400

Number of employees: 434,246

Year-to-date share price change: Minus 6.7 per cent

Overall rank in job cuts: 3

IBM, which manufactures and sells computer hardware and software, posted revenue of $104.5 billion.

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Image: A view of the headquarters of IBM Japan in Tokyo.
Photographs: Toru Hanai/Reuters

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Boeing Company

Job cuts: 5,800

Number of employees: 174,400

Year-to-date share price change: Plus 53.2 per cent

Overall rank in job cuts: 4

Boeing Company, one of the biggest aircraft manufacturers, posted revenue of $81.70 billion.

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Image: An All Nippon Airways's Boeing Co's 787 Dreamliner plane takes off for a test flight at Haneda airport in Tokyo.
Photographs: Yuya Shino/Reuters
Related News: Boeing Company

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American Express

Job cuts: 5,400

Number of employees: 63,500

Year-to-date share price change: Plus 25.6 per cent

Overall rank in job cuts: 5

American Express, a financial services company, posted revenue of $33.80 billion.

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Image: American Express and American Express corporate cards are pictured in Encinitas, California.
Photographs: Mike Blake/Reuters
Related News: American Express

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Wells Fargo & Company

Job cuts: 5,236

Number of employees: 274,300

Year-to-date share price change: Plus 17.7 per cent

Overall rank in job cuts: 6

Wells Fargo & Company, a financial services firm, posted revenue of $86.08 billion.

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Image: A cable car passes the Wells Fargo Bank headquarters in the Financial District in San Francisco, California.
Photographs: Robert Galbraith/Reuters
Related News: Wells Fargo

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Cisco Systems

Job cuts: 4,500

Number of employees: 75,049

Year-to-date share price change: Plus 15.2 per cent

Overall rank in job cuts: 7

Cisco Systems, a company that produces and sells networking equipment, posted revenue of $48.60 billion.

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Image: Cisco Systems's headquarters in San Jose, California.
Photographs: Robert Galbraith/Reuters
Related News: Cisco Systems

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MetLife Incorporated

Job cuts: 3,150

Number of employees: 64,000

Year-to-date share price change: Plus 41.0 per cent

Overall rank in job cuts: 8

MetLife Incorporated, a financial services company, posted revenue of $52.71 billion.

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Image: The MetLife building in New York City.
Photographs: Chip East/Reuters
Related News: MetLife Incorporated

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Blockbuster (Dish Network Corp)

Job cuts: 3,000

Number of employees: 35,000

Year-to-date share price change: Plus 30.1 per cent

Overall rank in job cuts: 9

Dish Network, a direct-broadcast satellite service provider, posted revenue of $14.27 billion.

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Image: A sign in the lobby of the corporate headquarters of Dish Network shows prices of packages in the Denver suburb of Englewood, Colorado.
Photographs: Rick Wilking/Reuters
Related News: Dish Network Corp

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United Technologies

Job cuts: 3,000

Number of employees: 218,000

Year-to-date share price change: Plus 25.3 per cent

Overall rank in job cuts: 10

United Technologies, a company that manufactures aircraft engines among many other products, posted revenue of $58.19 billion.


Image: An employee installs an engine for an A320 plane at the final assembly line of Airbus factory in Tianjin municipality, China.
Photographs: Jason Lee/Reuters
Related News: United Technologies

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