Economic Crisis, Job Cuts | featured news

Home Depot is cutting 7,000 jobs and closing its 34 Expo Design Centers as the recession continues to batter the U.S. housing market.

An anemic ad market is expected to depress the Web portal's Q4 earnings.

India-owned Corus - Europe's second-largest steelmaker - is to axe 3,500 jobs worldwide, the BBC learns.

Microsoft Corp posted quarterly results that missed Wall Street expectations, announced it would cut up to 5,000 jobs and said it could no longer offer profit forecasts for the rest of the fiscal year.

Germany's largest retailer, Metro, is planning to cut 15,000 jobs or 5% of its workforce due to the economic slowdown.

Microsoft Corp is considering significant layoffs across its various divisions, The Wall Street Journal reported on Wednesday, citing people familiar with the company’s plans.