Economics
One Day, Thousands of Job Cuts: Economic Pain Is Deepening
- Announcements point to job losses moving up the ladder
- Decisions come ahead of U.S. unemployment reports this week
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Tens of thousands of job cuts announced by blue-chip companies in a 24-hour period are a warning sign for the world’s recovery and emerge just ahead of two key reports forecast to show limited progress in the U.S. labor market.