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U.S. Recession Claims More Jobs

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U.S. Recession Claims More Jobs

Business

U.S. Recession Claims More Jobs

U.S. Recession Claims More Jobs

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As the recession eats into profits, U.S. companies continue slashing jobs and benefits. The information services company Unisys said it's eliminating 1,300 jobs worldwide. The Pennsylvania-based company will also suspend matching contributions to its 401(k) plan.

In Rhode Island, Textron — the world's largest maker of corporate jets — said it's cutting 2,200 jobs. The company said further cost-cutting actions are ahead.

And Caterpillar, the big construction equipment maker based in Peoria, Ill., said it will offer buyouts to as many as 25,000 U.S. workers. It's also reducing white collar salaries by up to 50 percent.

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