BBC to Slash 2,000 Jobs to Cut Costs

TOKYO (Reuters) - Japan's Sony Corp said it will slash 8,000 jobs, scale back investments and pull out of unprofitable businesses as it aims to cut $1.1 billion in costs out of its struggling electronics operations.

JPMorgan Chase announced plans Tuesday to slash $1 billion in costs and cut its staff by about 4,000 jobs.

Damages related to Greek debt exposure continue to mount. ING and BNP have both taken writeoffs related to Greek debt and both are cutting jobs.Expect more damage related to sovereign debt in Spain, Portugal, and Italy as well as general writeoffs related to the European recession. Please see Europe Undeniably in Recession; Germany Manufacturing PMI Contracts for First Time in Two Years, New Orders Collapse for a discussion of the recession.

In a stark acknowledgment of the tough times ahead in the credit card industry, American Express Co. said Thursday that it plans to cut 7,000 jobs, or about 10 percent of its worldwide work force, in an effort to slash costs by $1.8 billion in 2009.

In a stark acknowledgment of the tough times ahead in the credit card industry, American Express Co. said Thursday that it plans to cut 7,000 jobs, or about 10 percent of its worldwide work force, in an effort to slash costs by $1.8 billion in 2009.

NEW YORK (AP) -- In a stark acknowledgment of the tough times ahead in the credit card industry, American Express Co. said Thursday that it plans to cut 7,000 jobs, or about 10 percent of its worldwide work force, in an effort to slash costs by $1.8 billion in 2009....

In a stark acknowledgment of the tough times ahead in the credit card industry, American Express Co. said Thursday that it plans to cut 7,000 jobs, or about 10 percent of its worldwide work force, in an effort to slash costs by $1.8 billion in 2009.