Nearly one lakh jobs evaporate in Jan, still counting

Even the New Year seems to have a liking for layoffs, with nearly one lakh employees worldwide being shown the door so far in January, as companies embark on drastic cost-cutting initiatives.
About one lakh jobs spread across diverse sectors like retail, telecommunications and automobile, have been slashed this month alone, with a major chunk of them happening in the world's largest economy, the US.
Right from aluminum company Alcoa to mobile phone maker Motorola to auto firm Honda are axing jobs as part of their efforts to trim costs.
Meanwhile, so far the highest number of job losses are expected at the collapsed American consumer electronics retailer Circuit City.
The retailer, which had earlier filed for bankruptcy protection, has decided to liquidate its assets, leaving the company's nearly 30,000 employees in the lurch.      
As part of its cost-reduction measures, Alcoa would be reducing its headcount by 13,500 employees or about 13 per cent of its global workforce.
"Targeted reductions, curtailments and plant closures and consolidations will reduce headcount by more than 13,500 employees or 13 per cent of the company's worldwide workforce by the end of 2009. An additional 1,700 contractor positions also would be eliminated," the firm had said in a statement.
Among other major job reductions, Motorola would be trimming its headcount by an additional 4,000 employees, Honda (3,100), MeadWestvaco Corp (2,000), Barclays (2,100), Boeing (4,500), TDK Corp (8,000), Hertz (4,000) and Well Point (1,500).
Earlier this week, cellphone maker Motorola announced cost-cutting measures, which would result in the elimination of 4,000 jobs.
This would be in addition to the plan to reduce its workforce by 3,000 employees in the fourth quarter.
The company in a recent statement said it would "further reduce its workforce in 2009 by approximately 4,000 positions.
This reduction will include approximately 3,000 positions associated with the Mobile Devices business and approximately 1,000 positions associated with corporate functions and other business units".
Japan's leading carmaker Honda would be cutting about
3,100 jobs as the company copes with a steep decline in car sales worldwide.
In addition, the company would be bringing down domestic production by about 56,000 vehicles.     
Further, American oil major ConocoPhillips has unveiled plans to slash about four per cent of its total workforce, which would be about 1,350 jobs. The company has more than
33,000 employees.
"As a result of the current business environments impact on our operating and capital plans, we expect to reduce about four per cent of our overall employee work force... We also intend to reduce our contractor headcount," ConocoPhillips had said in a statement.
Moreover, electronics maker TDK Corp has announced it would bring down its headcount by a stunning 8,000 employees and Boeing would be trimming its workforce by 4,500.
Car rental company Hertz would be axing about 4,000 jobs as part of its cost saving initiatives.
US-based packaging company Meadwestvaco would be laying off about 2,000 jobs and reportedly, Barclays would cut 2,100 jobs worldwide.
Further, American health insurer WellPoint would be axing nearly 1,500 positions.