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10 biggest corporate layoffs in US

Last updated on: December 12, 2011 19:45 IST

10 biggest corporate layoffs in US

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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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Image: There have been many layoff in the US.
Photographs: Reuters

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10 biggest corporate layoffs in US

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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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Image: IBM tops the list.
Photographs: Reuters

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10 biggest corporate layoffs in US

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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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Image: Kmart is a chain of discount stores.
Photographs: Reuters

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10 biggest corporate layoffs in US

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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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Image: Citigroup is an American multinational financial services corporation.
Photographs: Reuters

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10 biggest corporate layoffs in US

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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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Image: General Motors is based in Detroit, Michigan.
Photographs: Reuters

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10 biggest corporate layoffs in US

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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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Image: It is the largest provider of mobile and fixed telephony in the United States.
Photographs: Reuters

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10 biggest corporate layoffs in US

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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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Image: The automaker was founded by Henry Ford and incorporated on June 16, 1903.
Photographs: Reuters

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10 biggest corporate layoffs in US

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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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Image: Boeing has expanded over the years, merging with McDonnell Douglas in 1997.
Photographs: Reuters

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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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Image: BofA is the second-largest bank holding company in the US.
Photographs: Reuters

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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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Image: It is one of the few government agencies explicitly authorized by the United States Constitution.
Photographs: Reuters

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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.


Image: DaimlerChrysler was founded in 1998.
Photographs: Reuters

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