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New York Economy Will Feel Wall Street’s Pain

September 16, 2008
Before Lehman Brothers went bankrupt and Merrill Lynch & Co. was forced to sell, the subprime mortgage crisis prompted estimates of Wall Street job losses to soar from 2,000 to 33,000 during the current downtown. Now, those numbers could climb even higher.
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Abbott Laboratories Cutting 1,000 Workers

August 21, 2008
The plan to ‘streamline global manufacturing operations’ will result in $370 million in pre-tax charges over the next several years, including $140 million in the third quarter of this year. Employee-related costs will represent about $110 million of the charges.
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GM to Cut Jobs, Bonuses, Dividends

July 15, 2008
In addition to an unspecified number of layoffs among salaried workers, GM says it will eliminate health care coverage for U.S. salaried retirees over 65, effective January 1. Those workers will receive a pension increase to help offset losses.
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