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2010 The Top 10 Worst Layoffs of 2010  

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The labor market improved a little in 2010, but there were still plenty of people who lost their jobs and more than enough bad layoff stories to go around. From unjust firings to companies letting workers go while still reaping record profits, 2010's worst layoffs gave everyone plenty to talk about. Here's hoping 2011 is a better year for businesses and their employees...or at least, a year with fewer awful layoff stories.

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Wells Fargo announced in July that it was closing its finance division--you know, the one specializing in all those lovely subprime mortgages that everyone's blaming for the collapse of the economy in the first place. In the process, Wells Fargo managed to eliminate about 3,800 jobs. You may be tempted to think this proves that karma does exist, but. . .

Also in 2010, Wells Fargo & Company CEO John G. Stumpf came in at #3 on a "Highest Paid CEO's on Wall Street" list put together by management consulting firm Hay Group.

Also Ranked

#10 on The Best Banking Brands

#2 on The Best Bank for Student Loans

#2 on The Best Bank for Recent College Grads

#15 on The Best Banks for Teenagers

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Yahoo!


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For the third year in a row, Yahoo! once again played the Grinch this year and laid off about 700 employees in mid-December. To be extra sensitive about it, the featured article on the site's homepage the day they announced the layoffs was titled "Great jobs that pay $100 an hour." Maybe that's their idea of helping their employees move on?

Also Ranked

#10 on The Most Evil Internet Company

#28 on The Coolest Employers in Tech

#38 on The Best Global Brands

#33 on Companies That Have The Best Branding

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Golden Parachute for CEOS, Pink Slips For Workers


During 2010's biggest layoff announcements, there always seemed to be one class of people who weren't feeling any pain at all -- the ones signing the pink slips. Hewlett-Packard's embattled Chief Executive Mark Hurd is only one example of a CEO getting a massive payout while his lowly laid off employees went home empty-handed. Another example is Johnson & Johnson's William Weldon, who took home $25.6 million not long after laying off 9,000 workers from the company.

In a study announced in September, business analysts even proved that CEOs who laid off more workers during the recession took home more money than the ones who didn't. For many high-ups in the business world, 2010 was all about the golden parachute, while their workers just got thrown out into thin air.
4

Camden Police & Fire Department Layoffs


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In December, the city of Camden, New Jersey announced it was laying off approximately 180 police officers, 20 dispatcher positions and 67 firefighters. Considered to be the second most dangerous city in America, Camden had the highest crime rate in the nation in 2009. So, residents were understandably upset when city officials announced they were slashing their crime fighting resources in 2010.

Sacrificing citizen safety to balance a budget? No wonder the people of Camden were seeing red when their officials announced this plan to get back in the black.