Posts Tagged ‘Layoffs’

I know that the global economy is rebounding back; still it was a hot issue when President Barack Obama took office.  Bucketfuls of digital ink was poured all over the Internet.  Now it’s only receiving a lukewarm reception in the media.  Let’s take a nostalgic look at how the economy was perceived a few months ago, with a humorous twist.

“The economy is so bad that I got a pre-declined credit card in the mail.

It’s so bad, I ordered a burger at McDonalds and the kid behind the counter asked, “Can you afford fries with that?”

The economy is so bad that CEO’s are now playing miniature golf.

The economy is so bad if the bank returns your check marked “Insufficient Funds,” you call them and ask if they meant you or them.

The economy is so bad Hot Wheels and Matchbox stocks are trading higher than GM.

The economy is so bad McDonalds is selling the 1/4 ouncer.

The economy is so bad parents in Beverly Hills fired their nannies and learned their children’s names.

The economy is so bad a truckload of Americans was caught sneaking into Mexico .

The economy is so bad Dick Cheney took his stockbroker hunting.

The economy is so bad Motel 6 won’t leave the light on anymore.

The economy is so bad the Mafia is laying off judges.

The economy is so bad Exxon-Mobil laid off 25 Congressmen.

And finally…

Congress says they are looking into this Bernard Madoff scandal. Oh Great! The guy who made $50 Billion disappear is being investigated by the people who made $1.5 Trillion disappear!”

Source:  Bits & Pieces

Blogged with the Flock Browser

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One of the worst nightmares for newly elect President Barack Obama, is the rapidly deterioration of the economy in the United States.  Since his short time in office, the situation is getting worse, more so than expected.

It’s already been a lousy year for workers less than a month into 2009 and there’s no relief in sight. Tens of thousands of fresh layoffs has been announced in the past three months, and more companies are expected to cut jobs  in the months ahead.

The recession, which started in December 2007, and is expected to stretch into this year, has been a job killer. The economy lost 2.6 million jobs last year, the most since 1945. The unemployment rate  jumped to 7.2 percent in December, the highest in 16 years, and is expected to keep climbing.

Forecaster have grown more pessimistic about the outlook of the economy in the near future. In a October survey, no forecaster thought GDP would fall by more than 1 percent.  In terms of business conditions, more reported customer demand dropping, capital spending reductions and shrinking profit margins.

Let’s take a look at some companies that have decided to cut their payroll in an effort to lower their operating costs and try to weather out the storm:

  • Pfizer Inc.: 8,000 employees.
  • Sprint Nextel Corp.: 8,000 employees.
  • Home Depot Inc.: 7,000 employees
  • General Motors Corp.: 2,000 employees.
  • Caterpillar Inc.: 5,000 employees.
  • Microsoft Corp.: 5,000 employees.
  • Intel Corp.:  6,000 employees.
  • United Airlines parent UAL Corp.: 1,000 employees.

Unless something unexpected  happens in the next couple of months, it’s a gloom-and doom scenario right now  It’s time to sit down on the kitchen table with a calculator in hand, and start planning for the future.  You could be one amongst thousands of workers with a pink slip in your hand.  In case this  happens, be prepared with a Plan A, Plan B and just in case, with a Plan C.  Good Day.

Source:  Tens of thousands more layoffs are announced – Yahoo! News

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