The Layoff Playoffs

China Telecommunications Corp. Jobs eliminated: 200,000

Announced: August, 2000 Why: Restructuring. China's

telecommunications sector was hit hard after the government

split the telecom monopoly into four companies.

IBM Corp. Jobs eliminated: 85,000 Announced: July, 1993

Why: A massive restructuring program led to the early retirement of

50,000 employees, followed by a gradual phasing out of 35,000 jobs.

By 1994, after several years of downsizing, IBM's total workforce

was about 200,000, down from a peak of 406,000 in 1985.

General Motors Corp. Jobs eliminated: 74,000

Announced: December, 1991 Why: To restore the financial health

of its North American operations, GM closed 21 plants and cut 74,000

jobs, including 9,000 in its home state of Michigan.

Sears, Roebuck & Co. Jobs eliminated: 50,000

Announced: January, 1993 Why: Phasing out of catalogues

due to high costs. Sears stopped producing its Big Book and closed

its catalogue store operations.

AT&T Corp. Jobs eliminated: 34,000 Announced: January, 1996

Why: The telecommunications giant originally cut 40,000 positions

when it split into three companies. However, a voluntary buyout

package and an eventual rehiring of 6,000 workers softened the blow.

Boeing Co. Jobs eliminated: 27,000 Announced: February, 1993

Why: The world's leading airplane builder cut back production after

carriers like United Airlines and Japan Airlines delayed or cancelled orders.

DaimlerChrysler AG Jobs eliminated: 26,000

Announced: February, 2001 Why: Restructuring. To get the company

back on its feet, chairman Jürgen Schrempp is unveiling new

products--revamped models of Jeep Liberty, Dodge Viper and Durango.

Unilever Jobs eliminated: 25,000

Announced: February, 2000 Why: Unilever divisions sold off 1,400

brands in order to focus on their 400 top sellers. Oxo, for example,

was sold to Campbell Soup Co.

Nortel Networks Corp. Jobs eliminated: 10,000

Announced: February, 2001 Why: Nortel announced its earnings would fall short of forecasts. Its share price plunged 30%, taking down other companies in the sector.

Cisco systems inc. Jobs eliminated: 8,000

Announced: March, 2001 Why: In a move to cut costs

after missing its first revenue-growth target in seven years,

Cisco announced a plan to slash 16% of its workforce.