Did you know that there was More Than 40,000 Layoffs?

Miserable Monday:

Home Depot, Caterpillar, Sprint Nextel and Pfizer announce cost-cutting plans."Labor reductions are always the most difficult action to take, but many companies are finding it necessary in this environment," Sprint Nextel CEO Dan Hesse said in a statement today.

The nation's third largest wireless carrier will cut 8,000 jobs by the end of March or about 13 percent of its work force.

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Home Depot, Sprint and Caterpillar
Sprint was one of at least four large U.S.-based companies announcing large-scale job cuts. Pfizer, which is buying rival pharmaceutical giant Wyeth for $68 billion, is planning to cut 8,000 jobs, or about 2 percent of its work force.

The closure of Home Depot's high-end EXPO stores, meanwhile, will affect 7,000 employees, or 2 percent of the company's work force. In addition, Home Depot today said it would also institute a salary freeze for company officers. more