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NEW YORK (CNNMoney.com) -- The second week of December was another brutal one for jobs, as Bank of America and at least 20 other companies announced more massive cuts.
"The recent news does not bode well," said Rich Yamarone, director of economic research at Argus Research. "This is the reason it's going to be the longest recession we've had in post World War II history."
Those are announced layoffs that may occur over a period of months and years. Many never happen because people quit or divisions are sold. It is not like all those people were fired and escorted out by security last week. Those are just headlines to scare people.
In many cases business let go to many people and then when things turn around they have to wrap up hiring and everything turns out fine at the end.
Those are announced layoffs that may occur over a period of months and years. Many never happen because people quit or divisions are sold. It is not like all those people were fired and escorted out by security last week. Those are just headlines to scare people.
In many cases business let go to many people and then when things turn around they have to wrap up hiring and everything turns out fine at the end.
Yep, point for you...I have seen this time and time again. Someday the worker will have the advantage...I hope.
Many big corps are hiring freelancers and consultants and temp workers though. Expect to see much more of this from now on. This is the way of the future. When the project is over after 2 years, they send you away. The temps and freelancers often can command a little higher salary than a perm employee. A flexible work force would not be a bad thing necessarily if this is indeed the new way of doing business here as I suspect.
But this will aggravate the health care / affordable insurance being linked to worker benefits in ways that will be catastrophic. And NO ONE will be spending $$ or taking out mortgages or taking out car loans when they have non-perm employment.
My 2 cents...
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