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10 biggest corporate layoffs in US
With the world going through tough economic times, companies around the world are handing out pink slips.
Let us take a look at the biggest corporate layoffs in the United States, according to data collected by 24/7 Wall St.
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10 biggest corporate layoffs in US
1. IBM
Biggest layoff: 60,000
Date of layoff: July 1993
International Business Machines Corporation is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States.
IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas ranging from mainframe computers to nanotechnology.
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10 biggest corporate layoffs in US
2. Sears/K-Mart
Biggest layoff: 50,000
Date of layoff: January 1993
Kmart is a chain of discount stores headquartered in the United States. The chain acquired Sears in 2005, forming a new corporation under the name Sears Holdings Corporation.
The company was founded in 1962 and is the third-largest discount store chain in the world, behind Walmart and Target, with stores in the United States, Puerto Rico, the US Virgin Islands and Guam.
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10 biggest corporate layoffs in US
3. Citigroup
Biggest layoff: 50,000
Date of layoff: November 2008
Citigroup is an American multinational financial services corporation headquartered in New York, United States.
Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group on April 7, 1998.
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10 biggest corporate layoffs in US
4. General Motors
Biggest layoff: 47,000
Date of layoff: February 2009
General Motors Company is an American multinational automotive corporation headquartered in Detroit, Michigan, and the world's second-largest automaker in 2010.
For the first half of 2011, GM was the world's largest automaker.
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10 biggest corporate layoffs in US
5. AT&T
Biggest layoff: 40,000
Date of layoff: January 1996
AT&T is an American multinational telecommunications corporation headquartered in Texas, United States.
It is the largest provider of mobile and fixed telephony in the United States, and is also a provider of broadband and subscription television services.
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10 biggest corporate layoffs in US
6. Ford
Biggest layoff: 35,000
Date of layoff: January 2002
Ford Motor Company is an American multinational automaker based in Dearborn, Michigan.
The automaker was founded by Henry Ford and incorporated on June 16, 1903. In addition to the Ford and Lincoln brands, Ford also owns a small stake in Mazda in Japan and Aston Martin in the United Kingdom.
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10 biggest corporate layoffs in US
7. Boeing
Biggest layoff: 31,000
Date of layoff: September 2001
Boeing Company is an American multinational aerospace and defence corporation, founded in 1916 by William E Boeing in Seattle, Washington.
Boeing has expanded over the years, merging with McDonnell Douglas in 1997.
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10 biggest corporate layoffs in US
8. Bank of America/Merrill Lynch
Biggest layoff: 30,000
Date of layoff: September 2011
Bank of America Corporation, an American multinational banking and financial services corporation, is the second-largest bank holding company in the United States by assets, and the fourth-largest bank in the US by market capitalization.
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10 biggest corporate layoffs in US
9. US Postal Service
Biggest layoff: 30,000
Date of layoff: March 2010
The United States Postal Service is an independent agency of the United States government responsible for providing postal service in the United States.
It is one of the few government agencies explicitly authorized by the United States Constitution.
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10 biggest corporate layoffs in US
10. Daimler Chrysler
Biggest layoff: 26,000
Date of layoff: January 2001
DaimlerChrysler was founded (1998-2007) when Mercedes-Benz manufacturer Daimler-Benz (1926-1998) of Stuttgart, Germany, merged with the US-based Chrysler Corporation in 1998.
The deal created a new entity, DaimlerChrysler.