More Layoffs Ahead?More Layoffs Ahead?

Look out: The economy's contractions may not be over. A wave of reports of layoffs by big-name companies that hit Wednesday seems to indicate we've got a long way to go.

The bad news started when reports of job cuts began to leak from telecommunications equipment maker Lucent Technologies Inc. According to media reports, the company is considering a new round of layoffs, on top of previous cuts of more than 10,000 jobs. A company spokeswoman declined to say whether more cuts are in the cards.

"I think [more layoffs are] certainly possible," says Larry Hettick, VP of consulting at TeleChoice. "So far as I know, they're only rumors, but the last time there was a rumor, I called them and asked if it was true, and they said no. Two weeks later they announced layoffs. I guess I don't have a lot of confidence in their no-comment policy."

Next, fiber-optics company JDS Uniphase Corp. said it, too, is considering more cuts. Any layoffs there would come on the heels of 8,000 jobs, or 20% of its workforce, slashed earlier this year. A JDS spokeswoman says that while more layoffs are being considered as part of a restructuring program, there are no definite plans.

And then, as if to really beat us over the head with the day's message, The Nasdaq Stock Market Inc., once cradle of the dot-com boom, said it will cut 10% of its workforce, or about 140 jobs. In a statement, the company said the cuts are needed because of a sharp decline in the number of initial public offerings on the market.

Hettick says the trend toward layoffs is the result of companies being conservative and planning for the worst: "The economic condition in the U.S. and the rest of the world is causing everyone to be more careful."