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As unemployment spikes, companies weigh options
U.S. companies have cut more than 550,000 jobs so far in 2008 as they try to preserve their profits in a slumping economy, but analysts say such downsizing must be done carefully for corporations to have any long-term benefits.
A continuum of companies have announced plans to cut their payrolls since the economy began to weaken last year, and many chief executives are still taking a hard look at their overhead to determine who is expendable and who isn’t. That means layoffs will remain a possibility across a number of sectors, from financial services to airlines and manufacturing, for quite some time.
Posted by: Sammy on 09/06 at 10:52 AM
- 1. · Unemployment is still relative low and the economy is running along with Bush as President. Obama would destroy job creation by increasing the income tax corporations pay. McCain will remove the obstacles corporations face while trying to grow jobs. Unless we can get "Community Organizer" as an official job, we would be in deep trouble with Obama as President. McCain/Palin is the best ticket.
Comment by Bruce Wesbury on 09/06 at 11:51 AM | [Back to Top] | [Back to Main]
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