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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST
There have been many layoff in the US.

With the world going through tough economic times, companies around the world are handing out pink slips.

Let us take a look at the biggest corporate layoffs in the United States, according to data collected by 24/7 Wall St.

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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST
IBM tops the list.

1. IBM

Biggest layoff: 60,000

Date of layoff: July 1993

International Business Machines Corporation is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States.

IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas ranging from mainframe computers to nanotechnology.

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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST
Kmart is a chain of discount stores.

2. Sears/K-Mart

Biggest layoff: 50,000

Date of layoff: January 1993

Kmart is a chain of discount stores headquartered in the United States. The chain acquired Sears in 2005, forming a new corporation under the name Sears Holdings Corporation.

The company was founded in 1962 and is the third-largest discount store chain in the world, behind Walmart and Target, with stores in the United States, Puerto Rico, the US Virgin Islands and Guam.

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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST
Citigroup is an American multinational financial services corporation.

3. Citigroup

Biggest layoff: 50,000

Date of layoff: November 2008

Citigroup is an American multinational financial services corporation headquartered in New York, United States.

Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group on April 7, 1998.

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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST
General Motors is based in Detroit, Michigan.

4. General Motors

Biggest layoff: 47,000

Date of layoff: February 2009

General Motors Company is an American multinational automotive corporation headquartered in Detroit, Michigan, and the world's second-largest automaker in 2010.

For the first half of 2011, GM was the world's largest automaker.

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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST
It is the largest provider of mobile and fixed telephony in the United States.

5. AT&T

Biggest layoff: 40,000

Date of layoff: January 1996

AT&T is an American multinational telecommunications corporation headquartered in Texas, United States.

It is the largest provider of mobile and fixed telephony in the United States, and is also a provider of broadband and subscription television services.

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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST
The automaker was founded by Henry Ford and incorporated on June 16, 1903.

6. Ford

Biggest layoff: 35,000

Date of layoff: January 2002

Ford Motor Company is an American multinational automaker based in Dearborn, Michigan.

The automaker was founded by Henry Ford and incorporated on June 16, 1903. In addition to the Ford and Lincoln brands, Ford also owns a small stake in Mazda in Japan and Aston Martin in the United Kingdom.

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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST
Boeing has expanded over the years, merging with McDonnell Douglas in 1997.

7. Boeing

Biggest layoff: 31,000

Date of layoff: September 2001

Boeing Company is an American multinational aerospace and defence corporation, founded in 1916 by William E Boeing in Seattle, Washington.

Boeing has expanded over the years, merging with McDonnell Douglas in 1997.

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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST
BofA is the second-largest bank holding company in the US.

8. Bank of America/Merrill Lynch

Biggest layoff: 30,000

Date of layoff: September 2011

Bank of America Corporation, an American multinational banking and financial services corporation, is the second-largest bank holding company in the United States by assets, and the fourth-largest bank in the US by market capitalization.

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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST
It is one of the few government agencies explicitly authorized by the United States Constitution.

9. US Postal Service

Biggest layoff: 30,000

Date of layoff: March 2010

The United States Postal Service is an independent agency of the United States government responsible for providing postal service in the United States.

It is one of the few government agencies explicitly authorized by the United States Constitution.

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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST
DaimlerChrysler was founded in 1998.

10. Daimler Chrysler

Biggest layoff: 26,000

Date of layoff: January 2001

DaimlerChrysler was founded (1998-2007) when Mercedes-Benz manufacturer Daimler-Benz (1926-1998) of Stuttgart, Germany, merged with the US-based Chrysler Corporation in 1998.

The deal created a new entity, DaimlerChrysler.