More Losses, More Layoffs
It was another down day on Wall Street. The Dow fell 176 points, or 2 percent, and both the S&P and Nasdaq shed 2.2 percent. Naturally, a handful of companies announced a round of fresh layoffs: As many as 60 employees of Condé Nast's Internet division were reportedly let go; an estimated 20 percent of CurrentTV's staff were given notice; the law firm of White & Case announced plans to shed 3 percent of its staff; and Time Inc. bosses in New York are now reportedly planning to lay off lots of European staffers, too. Oh, and don't bother looking for a job if you've already lost yours: Online job sites are reporting that new listings have hit a new low.