This holiday season has brought bad news to workers who stand to lose their jobs as a result of corporate cutbacks. Some examples this week:Exxon's purchase of Mobil for $73.7 billion in stock would result in the loss of roughly 9,000 jobs worldwide.
Boeing Co. is cutting an additional 20,000 workers over the next two years, largely as a result of the Asian financial crisis. In all, Seattle-based aircraft manufacturer is reducing its work force by 48,000 jobs, a 20 percent drop from the high level of 238,000 reached in June.
Kellogg Co. is cutting 525 salaried jobs, or about 20 percent of the salaried positions in its North American operations, as part of a restructuring plan.
ITT Industries Inc. disclosed it is considering a restructuring that could affect as many as 1,200 jobs, especially at operations that make industrial pumps and electrical connectors.
D.E. Shaw & Co., a New York securities firm, is eliminating 264 jobs, or nearly 25 percent of its work force, in a restructuring related to BankAmerica Corp.'s $43 billion merger with NationsBank Corp.