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The 18 Biggest Mass Layoff Announcements Of The Past Year

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Miriam Abrego, 55, unemployed, california

We're expecting the March jobs report Friday, and expectations are that nonfarm payroll employment will increase by 193,000.

The unemployment rate is expected to hold steady at 7.7 percent.

While the labor market has been trudging along slowly, mass layoffs in the past year have weighed on employment.

We drew on Bloomberg data to highlight the 18 biggest layoff announcements since April of last year.

18. First Solar: 2,000

Number of Employees:
7,000

First Solar announced that it would lay off almost a quarter of its workforce early last year and shut down its factory in Germany. This comes as the European market for green energy has deteriorated.

Source: Business Insider, Bloomberg



17: JC Penney: 2,200

Number of Employees:
116,000

JC Penney employees were told earlier this year that they have to get ready to "work harder with less" in 2013. "Service Leaders, administrative assistants, and office/cash room associates" were being cut, though some of these were being reabsorbed and offered sales positions. 

CEO Ron Johnson has been trying to transform the retailer. 19,000 employees have been laid off since he took over.

Source: Business Insider, Bloomberg



16. Colgate-Palmolive Co: 2,316

Number of Employees:
38,600

Colgate-Palmolive, which makes a variety of consumer products like shampoo and toothpaste, announced that it would be laying off 2,316 employees by 2016. The layoffs are expected to save the company more than $365 million annually. 

Source: The Motley Fool, Bloomberg



See the rest of the story at Business Insider

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