1.01.10....Now The Layoffs Really Begin!!!!!!
Japan Air to Cut Third of Staff in Turnaround Plan
Jan. 20 (Bloomberg) -- Japan Airlines Corp. plans to cut 31 routes, 53 planes and almost a third of its workforce after winning state funds to help restructure following the nation’s fourth-largest bankruptcy.
Asia’s biggest carrier will ax 14 international routes and 17 domestic ones by the end of March 2013 under a 900 billion yen ($10 billion) plan announced yesterday by Enterprise Turnaround Initiative Corp. of Japan, the state-affiliated fund leading the reorganization. Employment will drop by about 15,700 to 36,201 over the same period.
1/3 of a large workforce....GONE.......It is not just Japan......
Wartsila Corp - 1,400
PSA Peugeot Citroen ( European Carmaker ) - 5,700 French Jobs
and thousands at Kraft/Cadbury
Welcome to the recovery.........
Expect more and more large cuts as we proceed forward past 1.01.10