AOL and Starbucks Announce Major Job Cuts: Round Two of Layoffs

In the past few years, consumers have flocked to electronics stores to buy new high-definition televisions, DVD players, digital cameras and all sorts of other electronics. Those purchases waned as the recession grew deeper, pushing struggling Circuit City over the edge. In November, the company filed for Chapter 11 bankruptcy protection. The move came a week after the retailer announced it was closing about 155 Circuit City stores. As part of the store closings, 7,305 jobs were cut.

AT&T to Delivery Businesses

Things aren't too good, either, for the country's largest telecommunications company, AT&T. If businesses are shutting their doors, they don't need phones. In December, AT&T said it was eliminating 12,000 jobs because of tough market conditions.

With less business out there, there are fewer packages being shipped. In May, DHL's German parent company announced plans to cut costs in its U.S. express delivery business by hiring UPS to handle North American air cargo transportation. The change meant 6,800 jobs would be cut.

With reports by ABC News' Charles Herman and contributions by ABC News' Eleanor Hong

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