For awhile, analysts had hoped that the biggest layoffs in the economy would be restricted to already troubled industries including retail, automotive, and airlines. At least companies in those sectors were losing money.
But, news out of places like Nortel (NT), Whirlpool (WHR), and Hewlett-Packard (HPQ) indicate the prophylactic job cuts are being made in almost every industry.
Even Dell (DELL), which made over $700 million last quarter and has $8 million of cash on hand is talking about sharply lowering expenses.
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