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How long Big Companies can last if the economy keeps sliding- 2011 corporate layoffs?

In July, Boston Scientific Inc. (NYSE: BSX) announced to cut an additional 5% to 6% of its workforce. Corporate layoffs for Boston Scientific Inc. (NYSE: BSX): 1,200 to 1,400 employees through the end of 2013. When bankrupt Borders Group Inc. (PINK:  BGPIQ) finish store-closure sales more than 10,000.

Cisco Systems Inc. (NASDAQ: CSCO) announced lay off 6,500 employees, or 9% of its full-time workforce it could go up to 10,000 employees. Delta Air Lines Inc. (NYSE: DAL) announced lay off 2,000 employees.

Gannett Co. (NYSE: GCI) announced lay off 2% of its nearly 22,000 workforce. Goldman Sachs Group Inc. (NYSE: GS) plans to cut roughly 1,000 jobs. HSBC Holdings plc (NYSE: HBC) aiming to reduce its headcount by around 5,000, 30,000 over the next 3 years.

Lockheed Martin Corporation (NYSE: LMT) announced in June that in its Aeronautics business unit it was shedding about 1,500 workers. Merck & Co. (NYSE: MRK) most recently cut 12,000 to 13,000 jobs following the merger with Schering-Plough.

Research in Motion Ltd. (NASDAQ: RIMM) headcount reduction will amount to 2,000 of about 19,000 of its workforce. Sears Holding Corporation (NASDAQ: SHLD) announced the layoffs of about 700 workers in the higher-ticket appliances department of the Kmart stores in June.

Credit Suisse Group (NYSE: CS) and UBS AG (NYSE: UBS) is expected to be between 5,000 to 7,000 layoffs. If the merger of Express Scripts Inc. (NASDAQ: ESRX) and Medco Health Solutions Inc. (NYSE: MHS) allowed, it is expected a big layoffs.

About the AuthorProfessional

Features Editor, a senior director of strategic planning for a major university, has experience at a long/short equity hedge fund and has been in the markets for just under a decade. He has degrees in Economics and Communications and focuses on macro themes in the markets. His background also extends to logistics, marketing, and e-commerce.

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