Black Thursday
It's ugly out there today, isn't it? Viacom announced this morning that it plans to eliminate 850 positions, cuts that will take place "broadly" across the conglomerate's portfolio of media properties. NBC Universal followed up with the news it's slashing 1,350 positions. Credit Suisse revealed plans to pink-slip 5,300 people. DuPont said it would cut its payrolls by 2,500 people. And AT&T took the cake today with the announcement that some 12,000 employees will be on their own in the near future. If your boss asks to speak with you for "a moment" in the privacy of the conference room today, don't forget to bring tissues with you. [CNN, Dow Jones, WSJ]