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Layoffs Back: Verizon 13K, Sam’s Club 11K

January 27, 2010

The other day Wal-Mart announced 11-12K layoffs at its Sam’s Club unit. Yesterday we got word that Verizon is planning on laying off roughly 13,000 employees in 2010. This comes on the back of some pretty significant cuts it made in 2009.

And today Home Depot is announcing 1,000 layoffs.

…and there will be more. Retail sales numbers after Christmas have probably returned to the doldrums.

On top of this, we anticipate that as part of an effort to close budgets, cities and states will begin cutting workers as well, all but ensuring that unemployment numbers remain at elevated levels. A negative sign for commercial real estate, and the economy.

Look for more layoff announcements over the next few weeks.

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Sam January 27, 2010

Sad news, but more great commercial lease deals to be had over the next 12 months.

joshua January 28, 2010

Verizon is screwed. they laid off a buddy of mine with 30 years of service who ran the their entire infrastructure development for the desert areas of so cal and gave it to a guy with 12 months experience. they also fired 75% of my buddies staff. however, they are adding associates at my local verizon wireless mall kiosk.

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