Boeing, GM, others issue pink slips before holidays

Tuesday, December 20, 2016

NEW YORK -- The Grinch stole Christmas this year for thousands of Americans who were given pink slips before the holidays.

General Motors: GM announced Monday that it will lay off 1,300 workers at a Detroit plant. The workers make the Chevy Volt, in addition to the Chevy Impala and Buick LaCrosse.

Those job cuts are in addition to 2,000 other GM employees who will lose their jobs within a month.

Boeing: Layoffs are nothing new for Boeing in 2016 -- the company has already fired thousands as demand for jumbo jets slumps. But Boeing told employees Monday it will continue to cut jobs at its commercial airplane unit in 2017, citing fierce competition with rival Airbus and a drop in new orders.

Airbus also told its labor unions in November that it was cutting around 1,200 jobs.

GoPro: The action camera company announced plans last month to lay off 200 workers. That comes after it laid off more than 100 employees in January.

Many of the latest job cuts come as GoPro plans to shut down its entertainment unit. That group was responsible for featuring videos shot on GoPro's action cameras.

Xerox: The company is splitting in two before the end of the year, and company President Jeff Jacobson says layoffs are coming -- even though the point of the split was to stem the company's sales slide.

He declined to say how many will be let go, but the 39,000 employees at Xerox's legacy copier business are most likely to be impacted.

Caterpillar: After laying off 10,000 employees last fall, Caterpillar said last week that it will issue another round of pink slips.

The construction giant didn't say how many jobs will be cut, but it said it will try to place as many as possible in new jobs at the company. A post-recession rebound has proved difficult for Caterpillar. Its forecast for the coming year is pretty dour.

The Limited: The clothing store told all 248 employees at its Ohio home office that their jobs are in jeopardy. Earlier this month, the company said on an earnings call that it is looking for cash to keep the company alive, and it might have to shutter stores.

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