by Jocelynn Smith
The Sovereign Investor
This earnings season continues to be treacherous for investors. We’ve seen blue-chip global companies such as Coca-Cola, Johnson & Johnson, General Mills, Phillip Morris and Nike complaining about the impact of a strong dollar on their revenue.
We have also had companies announcing massive layoffs, including:
- Intel plans to cut 12,000 jobs.
- Boeing said it could cut up to 8,000 jobs this year.
- Lockheed Martin recently cut 1,000 jobs.
- Nordstrom plans to cut 400 jobs.
- Freeport-McMoRan will slash 25% of its oil and gas workforce — 325 jobs.
- Coach announced 300 job cuts.