It was the kind of year where, in the months leading up to Christmas, the news was already dominated by the financial crisis, with financial analysts predicting it would be a year of “subprime lending, job losses and falling consumer confidence” in the US.
The news, however, was far from over.
In the US, a number of companies were hit hard by the crisis, and the impact of the crash has yet to be felt.
Here’s a look at some of the companies that have already reported negative results in the year so far.
Applied industrialApplied Industrial, a global software company, said it will be shedding up to 2,000 jobs in 2018 and 2019.
Its CEO, David Akins, told The American Business News the company will cut about 300 jobs in the next year.
He blamed the slowdown on “unfair labour practices,” including wage freezes and job losses due to the recession.
The company said the cost of making software has increased by around 10% since 2014.
“We will have to reduce the scope of our growth and focus on delivering better value to our customers,” Mr Akins said.
Goodwill IndustriesThe US consumer goods retailer is struggling to make ends meet amid the global financial crisis.
It said it lost $1.4bn last year, and is losing money on almost $1bn of purchases a day.
Its shares have plunged in 2017.
The company is currently seeking to raise $20bn to invest in new projects, including a factory in China.
It has also said it wants to hire more staff.
In 2018, Goodwill said it would cut more than 200 jobs, and its next round of layoffs would be on a temporary basis.
It expects to save about $100m in the short term.
Apple, Facebook, Amazon and Netflix are among the companies expected to report positive results.
Amazon said it expects to increase its annual profit by around $5bn in 2018, and Facebook said it plans to increase annual revenue by $1,000bn.
Apple also said in a report it would add 10,000 new employees in 2018.
However, the biggest hit to the US consumer products sector so far this year has been Amazon, which reported a loss of $6.6bn.
The retailer has been hit hard because of its massive online retail business, and Amazon’s stock has fallen by about 20% since the start of the year.
In February, Amazon announced it would begin selling e-books from Amazon.com, the company’s e-book delivery service.
The move came amid a global recession in which e-commerce sales fell more than 40% in the first quarter of 2018.
Apple said last month it planned to add 10 million employees by 2019, bringing its total workforce to more than 50 million.
It plans to hire 50,000 more people in the UK this year and 200,000 in 2019.
Netflix, Facebook and Amazon have also announced hiring plans.
The US-based companies are struggling to compete with Amazon and other big online retailers, which have become increasingly popular in recent years.
Netflix said in March that it will hire 2 million employees this year, up from 1.6 million in 2019, and that it would continue to expand its content offerings, including original shows and movies.
The streaming service said it was adding 50,00 employees in 2019 and adding 5 million in 2020.
Amazon said in September that it planned 2 million new workers in 2019 to support its growth.
The firm also plans to expand into new areas including film, music and mobile advertising.
Amazon CEO Jeff Bezos has been criticised for his investment in the online retail company Amazon Prime, which the company now sells for $99 a year.
The $99 membership comes with access to Amazon Prime Video, which offers exclusive content, a huge library of movies and TV shows and a free Kindle e-reader.
Amazon also launched an online store with a subscription service, Amazon Prime Music, which has been downloaded more than 150 million times.
Amazon Prime’s popularity is expected to continue.
Amazon Prime Video has become a hit with consumers.
It is estimated that the service has helped boost Amazon’s share price by 25% in 2018 over the previous year.
In the first three months of 2019, Amazon has lost nearly $3.4 billion on Prime Video.