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Companies sharpen job-cutting shears as sales slow

Posted By kurtnimmoadmin On October 23, 2012 @ 11:39 am In Economic Crisis,Old Infowars Posts Style,Tile | Comments Disabled

Scott Malone
October 23, 2012

Faced with weakening revenue, two big companies warned on Tuesday that they would cut jobs as a way of protecting their profits.

DuPont Co (DD.N) said it planned to lay off about 1,500 workers – roughly 2 percent of its global headcount – as the chemical company grapples with weakening demand from the construction and renewable energy sectors.

United Technologies Corp (UTX.N) did not specify the magnitude of the cuts it was considering but said it would raise its full-year restructuring budget by 20 percent to $600 million as demand for its military equipment declines.

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