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Monday, January 5th, 2009
articles.php?which=AnotherWeekOfLayoffs
Another Week Of Layoffs.

Continuing with the trend we saw last week, more start-ups laid of staff this week. Here's who's down employees:

-VoIp start-up Jaxtr laid off 13 employees this week, leaving the company with only 30 employees. Like many of the start-ups laying off employees, they say they have plenty of money to ride out the storm. According to TechCrunch, they're still sitting on $10 million in funding they raised in June.

-Mahalo.com, a "human-powered" search engine laid off 10% of their staff this week. Company CEO Jason Calacanis, who we've quoted several times on this blog, announced the news in a blog post. He writes"

"While I anticipated and prepared for the ‘internet winter’ we’re now facing (you’ve read my posts and e-mails about the startup depression I’m sure), I failed to realize how bad the situation would get. It’s much worse than I thought it would be, and ignoring market conditions today would only mean deeper cuts down the road."

-Even old start-ups aren't exempt from the cuts. Internet grandaddy Yahoo announced this week that they're laying off nearly 10% of their staff—which is a lot more than just a handful of staffers. It's about 1500 yahoo employees, according to the LA Times.

-Big business was hit with layoffs this week as well. Drugmaker Merck announced that they intend to cut more than 7,000 jobs. This move is part of a restructuring program they say they've developed after their profits tanked last quarter.

-Chrysler also revealed that they're cutting more than 25% of their white collar jobs this week. You know things are bad when your companies CEO is making statement like this:

"These are truly unimaginable times for our industry," said Chairman and Chief Executive Officer Bob Nardelli. "We continue to be in the most difficult economic period most of us can remember."

Ouch. Chrysler says they'll start making the layoffs next month.

-This last item is a shout out to our youth. Molson Coors Brewing announced earlier this week that they're ending production of Zima. Coors execs say that lagging profits and weakness in the "malternative" segment (who knew there was such a think?) led to their decision to yank the beverage. Sad!

zima

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