Global unemployment sours

AS the global economic crisis deepens major companies across the world have started cutting jobs.

In southern Africa, big mining houses are the worst affected because of a significant drop in international demand for raw minerals. Mining houses in Namibia and South Africa last year started cutting back their operations and reducing their workforce. At the end of last year Weatherly Namibia closed its four copper-mining operations in Namibia, resulting in the retrenchment of over 600 workers. Yesterday Namdeb announced that would shed 600 jobs at the end of February.De Beers, 50 per cent shareholder in Namdeb, will reduce its workforce by 3 500 globally. In December, the National Union of Mineworkers in South Africa said it feared that about 32 000 jobs in the mining industry would be on the line.Last year 2,6 million jobs were lost in the US. Following is a list of companies worldwide that have announced recently that they are reducing their workforce:
Caterpillar Inc.: 20 000 of its 112 000 employees worldwide.Rio Tinto: 14 000BHP Billiton: 6 000Engine maker Cummins: 800Drug maker Pfizer: 2 400Aluminium producer Alcoa: 13 500Marks&Spencer (UK): 1 000General Motors: 2 000