Layoff list grows even more from yesterday (daily updates) 2

Please review previous layoff list update before this one.

http://investment-blog.net/layoff-list-grows-even-more-from-yesterday-daily-updates/

Lets see Circuit City just filed bankruptcy, 1,000’s of businesses to small to make it to a news head line have filed bankruptcy, DHL to lay of 15,000, Nortel to lay of 1,300, up to 70,000 Financial Sections jobs to be cut by end of year.

Don’t forget the 40,000 potential layoffs for the US postal service… first time ever…

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/02/AR2008100203828.html

In the service industry, it is generally difficult to maintain a talented, dependable workforce. Last weeks application count:
1 Office Manager
2 RPN
1 Civil Engineer
2 Auto Manufacturer
17 service workers (housekeepers)
3 teachers with degrees

This was for 1 job, part time making $7.50

It is going to get a lot worse. In the 80’s, the percentage of working people was less by 8% and the rate was 3 points higher. People also were in the habit, as told by hiring managers, to stay with their jobs as long as possible. Today they are told to switch jobs frequently for experience. It was a volatile job market before we hit this tragedy. Two people working that was one, less pay, more hours. Keep adding and you see that people are living beyond their means like never before.

Also when companies report losses, they will as well announce cost cutting plan, and thousands more jobs may add up. How many more companies are going to report loss and how many more jobs are going to be cut, this is going to shock you soon. I think 13-15% sounds more likely. I will keep this update.

Related Posts:

• Banks, FRE and FNM already face huge losses for years to come.
• Why is the government allowing GM to go bankrupt now?
• Three problems with payroll numbers that are really scary:
• Get Illegal Workers Out of This Country
• US Layoffs - The Latest Casualty Count

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