Revelation 6:3-4 NCV When the Lamb opened the second seal, I heard the second living creature say, "Come!" Then another horse came out, a red one. Its rider was given power to take away peace (prosperity, rest) from the earth and to make people kill each other (butcher, slaughter, to maim violently, in streets), and he was given a big sword (assassins sword, terrorist, loud, mighty, sore afraid).
Major companies, mostly located in the United States, are expecting to cut thousands of jobs within the next few years. These companies include: Whole Foods, Caterpillar, Chesapeake Energy, Hewlett-Packard Co., and Toshiba, along with supermarket giant, Wal-Mart Stores.
Reasons for the cuts have been attributed to a variety of reasons. Whole Foods reported to USA Today that they would be cutting 1,500 jobs within the next two months in order to lower prices for customers. The organic grocery store also announced that they would be trying to find other jobs within the company for those who were laid off.
Caterpillar, the heavy equipment manufacturer, said they would be cutting 10,000 jobs within the next three years. The job cuts come from a lack of projects for the company due to weakness in the energy and mining businesses worldwide, which affects the company greatly because their equipment is usually used for resource extraction and construction.
Another company that has been affected by the energy industry is Chesapeake Energy. Due to the high prices of oil and natural gas, the energy company is having to cut 750 workers, which is 15% of its workforce. Most of the job cuts will be in Oklahoma City, OK, where the company is based.
The technology business has also been affected by the recent world markets. Hewlett-Packard Company (HP) announced earlier this month that they would be cutting 33,300 jobs over the next three years due to falling demand. Another tech giant, Toshiba, also announced today that they would be cutting jobs as well due to a recent account scandal within the company. So far, Toshiba has not announced how many jobs would be cut, but that there would be restructuring within their company.
Even one of the biggest companies in the United States announced today that they would be cutting jobs. Wal-Mart Stores told Reuters that hundreds of people would be laid off at their headquarters in Arkansas. They expect fewer than 500 employees to lose their jobs. The job cuts were announced while the company struggles to shore up its profit margins, which have been weighted down by a $1 billion investment earlier this year to increase the wages of employees. So far this year, the stock for the world’s biggest retailer is down 26%.
CNN Money reported that the U.S. has cut more than 86,000 jobs due to falling oil prices.
