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Article: Depths of downturn illustrated by layoff numbers: more than 5,800 jobs being cut across business sectors.(EMPLOYMENT)
- Article from:
- Los Angeles Business Journal
- Article date:
- January 12, 2009
- Author:
CopyrightCOPYRIGHT 2009 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The headline-grabbing layoffs that began at mortgage lending companies more than a year ago radiated throughout the Los Angeles economy in the fourth quarter of 2008.
State figures show a steady stream of large-scale staff reductions at L.A.-area companies and facilities have reached into virtually every corner of the local economy.
Area manufacturing, health care, retail, transportation, high-tech and media companies all gave official notice to the state Employment Development Department that they were preparing mass layoffs. More than 5,800 workers either have gotten pink slips or will see them in the next several weeks as indicated by these filings.
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