The economy in Dallas, Texas has been pretty robust up until now. But this week, it was pretty rough, with large companies in the area (and more nation wide) announcing layoffs.
On Monday alone, companies across the employment spectrum announced tens of thousands of job cuts in the U.S. and around the world, a stark sign that businesses are enduring a painful, protracted downturn.
Texas Instruments said it will cut 3,400 jobs due to slumping demand. The Dallas-based company said Monday it will slash 1,800 jobs through layoffs and another 1,600 through voluntary retirements and departures.
Nationally, Monday's toll also included cuts at Caterpillar, Sprint Nextel, Home Depot and others.
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