Photographs: Reuters
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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10 companies that have announced most job cuts
Photographs: Mike Segar/Reuters
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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10 companies that have announced most job cuts
Photographs: Shannon Stapleton/Reuters
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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10 companies that have announced most job cuts
Photographs: Toru Hanai/Reuters
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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10 companies that have announced most job cuts
Photographs: Yuya Shino/Reuters
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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10 companies that have announced most job cuts
Photographs: Mike Blake/Reuters
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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10 companies that have announced most job cuts
Photographs: Robert Galbraith/Reuters
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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10 companies that have announced most job cuts
Photographs: Robert Galbraith/Reuters
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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10 companies that have announced most job cuts
Photographs: Chip East/Reuters
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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10 companies that have announced most job cuts
Photographs: Rick Wilking/Reuters
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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10 companies that have announced most job cuts
Photographs: Jason Lee/Reuters
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.
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