World’s large companies continued cost cutting that caused thousands of job cuts

job cutsGlobal economic recession has already hit the first month of 2009 as several large companies moved into cost cutting plans that involved thousands of job and employment cuts. The following is a list of companies that already announced to cut down their number of employees:

Ford Motor Credit, due to sinking car sales, the company announced on Wednesday that it will cut 1,200 jobs, or 20% of its workforce. Ford Motor Credit is an indirect, wholly owned subsidiary of Ford Motor Company.

Boeing Co., also announced on Wednesday that it will cut an additional 5,500 jobs this year, making its total cuts to 10,000 as the aircraft maker and defense contractor struggles with decreasing demand for new aircraft.

Starbucks Corp., the famous coffee chain around the world also said it would be cutting up to 6,700 jobs due to closing stores and a slower rate of store openings.

Allstate Corp., the insurance giant said it would be cutting 1,000 jobs over the next two years.

AOL, the internet company also intends to cut 700 jobs.

Abbott Laboratories, the healthcare company said it would be cutting 200 positions.

Jabil Circuit, the electronics parts maker also announced its plans to remove 3,000 jobs worldwide.

Nissan, the Japanese automaker said it would be cutting 110 U.S. jobs as it closes four regional offices.

Dell Inc., the computer maker also said it would be reducing the size of is workforce, but did not specify by how much.

These new announcements made on Wednesday bring the total number of job cuts this week to more than 100,000.

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