Screwed: 20,000 at NEC

Japanese electronics giant NEC Corp. will cut 20,000 workers worldwide…with sales down 24%, Eastman Kodak said it plans for 3,500 to 4,500 more layoffs…

CNBC: Cuomo Subpoenas Thain

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A breathless Charlie Gasparino is reporting on CNBC that New York Attorney General has subpoenaed former Merril Lynch CEO John Thain over the $4 billion in bonuses that were paid out to the company’s executives late last year.

Screwed: 8,000 at Sprint Nextel

A daily review of the employment fallout around the country.

Sprint Nextel plans to cut 8,000 jobs in the first quarter, or about 14 percent of its work force…Corning is slashing 3,500 positions…Philips Electronics is eliminating 6,000 jobs this year after swinging to its first quarterly loss in five years…IBM is cutting 2,800 jobs in sales, software units…Fox Interactive Media is laying off about 100 people…Reed Business Information sacked 7 percent of its work force.

Read about layoffs at the sites compiled on our Layoff Tracker page.

Recession Briefing 1.27

What you need to know today to survive and thrive in the recession.

U.S. Stocks Set to Open Higher (WSJ)
U.S. stock futures edged cautiously higher Tuesday, as investors faced another flood or corporate earnings.