Layoffs mounted yesterday as thousands of pink slips were doled out across businesses and across the nation.
On Wall Street, the first wave of layoffs since the Sept. 11 tragedy swelled as Credit Suisse First Boston slashed a whopping 760 investment bankers – about 20 percent from its global roster.
Elsewhere in New York, Corning Inc., will dismiss an additional 4,000 staffers as profits dipped lower than expected for the third quarter. The big maker of fiber-optic cables said they would shed 12,000 jobs – 28 percent of its work force – this year.
In the Midwest, Iowa-based telephone and data provider McLeodUSA will lay off 1,600 people – 15 percent of its work force.
General Electric said it would let go 4,000 workers – or 13 percent of its payroll – at its Ohio-based aircraft-engine business.
In Seattle, Wash., high-end retailer Nordstrom said it will dismiss 1,600 employees, or 3.6 percent of its staff, over the next month.