Mass Headcount Reductions on the Rise

One of the least known facts coming out of last week's largely disappointing earnings announcements were the crushing news and detail of mass layoffs.  

Courtesy of this Mish Shedlock post, 

Firing Details

• Ford is closing its first European car-assembly factories in 10 years
• AMD, the second-largest maker of processors for personal computers, said last week it will cut 15 percent of its staff, or about 1,665 jobs, after forecasting fourth-quarter sales that fell short of analysts' estimates.
• Dow Chemical will close 20 plants in the U.S. and abroad to eliminate about 2,400 jobs
• DuPont plans to trim 1,500 jobs after third-quarter profit trailed analysts' estimates
• Cummins Inc. (CMI), a Columbus, Indiana-based engine maker, said it expects to erase as many as 1,500 jobs by the end of 2012 and lowered its forecasts for sales and profit.
• Kimberly-Clark Corp. (KMB) said this week it plans to cut manufacturing and administrative operations as it exits the diaper business in western and central Europe