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Mass Firings Starting Up Again (Just Like 2008)
Gerick will be home tomorrow. He, along with the rest of the company, have to cut one day a week out (and off their pay) for pretty much the rest of this year. And THEN, next year, they're going to begin laying off (though perhaps even before that.) The partial 1-day-a-week layoff is their way of spreading the pain around and avoiding laying people off a little while longer.
In the meantime, any vacation pay is used up (thus reducing severance packages when lay-offs begin– SNEAKY!) and wages are reduced after that. Everyone knows that their job may be on the line and so there is a nervous tension at my husband's work now.
The last time this happened was September of 2008. Then it seemed like the next 6 months were a frenzy of mass firings.
Though its coming later in the year– given that Celestial is a global company– it seems that at last we're going to hit the next big bump down. I've been expecting to hear that other companies are following suit. Seems they are:
globaleconomicanalysis.blogspot.com/2012/10/mass-firings-soar-at-fastest-pace-since.html
I don't know how far or how bad this trend may be… However, I suspect that after the elections, regardless of outcome, we'll see many more companies doing the same. New hirings are more likely to be for part-time employment only for the most part. Living wage jobs with decent benefits are just disappearing, and I think we'll see another big chunk of those go bye-bye in the next 6 months.
2012-10-29 18:56:46
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