Sectors feeling the squeeze

Some industries are more likely than others to find themselves in the throes of a merger - and in layoff mode.

"Merger-and-acquisition activity has been on the rise lately," especially in telecommunications, banking, oil, and the computer industry, says John Challenger, chief executive officer of the Chicago-based outplacement firm Challenger, Gray & Christmas Inc.

Telecommunications mergers might have been the newsmakers of late, but that industry doesn't make the top five on this year's list - compiled by Mr. Challenger's firm - of overall merger-related job cuts through October:

1. Financial services. Banks, securities firms, mortgage companies, and collection agencies.

2. Commodities. Oil, mining, and energy companies.

3. Industrial goods. Companies that make products made for businesses, not consumers - scientific equipment, for example.

4. Chemicals

5. Aerospace/defense

(c) Copyright 1999. The Christian Science Publishing Society

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK