Economic Crisis: 18,885 Layoffs in this week | Startup Meme - Technology Startup and Latest Tech News

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Nov 1 2008

Economic Crisis: 18,885 Layoffs in this week

Saad Ali Abbasi 

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With all our reporting of companies cutting costs, total layoffs amount to 38,538, from 108 companies, in the past two months. Among the mayhem some of the bigger cutbacks this week came from Motorola – with 3,000 employees (rumored to be 5,000), Qwest – with 1,200, and Electronic Arts - 600. As multinational companies were seen having to make cutbacks, so were startups. Revision3 – 10, Emusic – 10, Sugar Publishing - 9, Aligh/Jawbone - 25, matchmine – 42, Gizmos – 10. Media companies facing disruption from the Internet are also mentioned here: Gannett – 3,000, Time Inc. – 600, Conde Nast – 32, where its Portfolio magazine was forced to lay off nearly all of its Website staff.

[via TechCrunch]

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