2001: Trouble and triumph
Motorola leads way in job cuts
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Advertiser Staff
U.S. companies, led by Motorola Inc. and Boeing Co., fired more than 1 million workers in 2001 as the U.S. economy lapsed into recession, prompting the largest employment reductions in at least a dozen years.
Firings accelerated after the Sept. 11 terrorist attacks crippled sectors of the economy such as the tourism and aviation industries. More job cuts were announced after Sept. 11 than in any year from 1993 to 1997, said job placement firm Challenger, Gray and Christmas.
Hawaii companies have announced more than 2,200 job cuts since the attacks. Meanwhile, the state's jobless rate rose to 5.5 percent in November, the highest in more than two years. The following table lists U.S. companies with job cuts of 2,000 or more announced in 2001. Companies are ranked by the number of job cuts.
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