Fired And Tired: 8 Companies With Highest Job Cuts

Bangalore: Economic gloom has pushed businesses to come up with extreme measures to curb losses. Companies all over the global have either opted to cut down on their workforce or have decided to stop hiring with a view to add life to their balance sheets.

Take a look at the companies that have laid off the most employees this year, as listed by Alexander E.M. Hess and Michael B. Sauter of 24/7 Wallst.

8. MetLife Inc

Job cuts: 3,150

Number of employees: 64,000

Established in 24th March 1868, MetLife is one of the largest providers of insurance, annuities, and employee benefit programs in the world. It has over 90 million customers and is operational in about 60 countries. This March the company revealed plans to cut 650 jobs from its office at Bloomfield, Connecticut. And the company claimed that the layoffs were part of a plan to reinforce its operations and start new offices in North Carolina. It also came into light that a third of its advisers (approximately 2,500) would lose their jobs this year.

Eric Steigerwalt, CEO of MetLife, exclaimed that the layoffs were part of the company’s policy to increase the revenues by bring an end to financing unsuccessful advisers.

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