Employees around the nation got another nasty dose of job cut announcements Monday morning from several different industries and job classes.

The job cuts were headlined by Caterpillar (CAT), which said it would cut about 20,000 jobs over the next few months -- but in total the job cuts announcements come to approximately 55,000 job losses just today alone. 

Caterpillar Chops One-Fifth of Work Force

Caterpillar’s cut of approximately 20,000 employees comes after the global construction boom that helped buoy the company’s fortunes faltered in late 2008.

The loss equates to approximately one-fifth of the company’s work force, according to the company’s most recent annual report.

Caterpillar, which the world’s largest mining and construction equipment manufacturer, said it was cutting the jobs primarily as “financial markets remain under stress” and “expectations for 2009 have deteriorated.” The company said it would be a cut in line with at least a 25% decrease in sales for the year.

The company did not clarify where the job cuts would come from or when the cuts would go through.

Sprint Nextel Cuts 13% of Work Force

Sprint Nextel (S), the struggling wireless and broadband company, said it would cut about 8,000 jobs over the next three months. The cuts equate to approximately 13% of the Sprint’s work force.

According to the company’s announcement, the job cuts would save Sprint about $1.2 billion a year in labor costs. The company did not rule out additional job cuts for the year, and said it would depend on how quickly the struggling economy recovers.

About one out of every 10 jobs cuts would come from management ranks, Sprint said.

“Labor reductions are always the most difficult action to take, but many companies are finding it necessary in this environment,” said Sprint CEO Dan Hesse.

Along with the job cuts, Sprint also said it would eliminate the company’s 401(k) match and its tuition reimbursement programs.

Home Depot

Home Depot (HD), the nation’s largest home-improvement retailer, said Monday it would cut about 7,000 jobs over the next several months as the company continues to struggle during this housing market downturn.

The retailer said Monday that the cuts would be primarily in office operations and cutting back officer and upper management ranks by 10%. The company will also institute a salary freeze for upper management as well.

As part of the announcement, Home Depot said it would close its Expo home improvement centers

A Merged Pfizer, Wyeth Will See Job Losses

As part of the merger agreement announced today, Pfizer (PFE) said its merger between itself and Wyeth (WYE) would result in approximately 15% of the company's combined work force. The cuts would equate to losses of about 18,000 employees.

Pfizer has already announced job cuts in past recent weeks, including both scientists and sales staff, as the company deals with a slowing economy. 

Pfizer Chief Executive Jeff Kindler said the cuts would be "difficult and painful but very necessary."

The companies did not define what positions would be eliminated in the merged company, but traditionally in a merger it’s the back office and support staff that is cut first. The transaction is expected to close in the third or fourth quarter of 2009, and the job cuts are expected to follow soon after that.

General Motors Cuts More Jobs    

General Motors (GM) said Monday it would lay off 2,000 additional workers in the next few months, and in addition would schedule more down time at several of its manufacturing plans. 

The cuts would come be 800 workers at a factory in Ohio and 1,200 job cuts at a plant in Michigan, General Motors said. 

In addition, the company would idle 14 out of 24 assembly plans for a week later this year -- possibly in the second or third quarter.

Other International Name Slice Positions

ING Groep (ING), the Dutch insurance and finance giant, said Monday it would 7,000 jobs in 2009. Phillips Electronics said it would cut 6,000 jobs over the next year as well.