58,000 Job Cuts Announced Just This Morning

Discussion in 'Economics' started by ByLoSellHi, Jan 26, 2009.

  1. ...this, probably before person #1 of the 30,000 or so job cuts announced last Monday has actually been laid off.

    These days where as many people get laid off in one day as if a large multinational corporation just went under are becoming so common that it barely raises anyone's attention anymore.

    Very, very few companies, even the largest, have more than 30,000, let alone 58,000 employees.

    The job loss rate is accelerating at an unprecedented and alarming rate, and few people are talking about this, let alone emphasizing it as a primary concern.

    And that is why we're headed for a severe crash.

    The risks to the U.S. and global economy from a much higher than anticipated unemployment rate can not be overstated at this point.

    10% unemployment will seem like a 'virtuous wish' at this time next year.
  2. talknet


    When the Tsunami is few miles inside the ocean, it looks like a still & small tidal wave. But when the tsunami reaches shores, people realise that the Tidal wave is 100 feet high and traveling at 800 kmph.

    By this time it is too late and the tsunami destroys everything.

    Falling giant banks & giant companies are indicators of approaching massive financial catastrophe.

  3. ooops, I misstated the job losses of this morning.

    They were actually MORE:

    Caterpillar, Sprint, Home Depot Slash Jobs on Falling Sales
    Email | Print | A A A

    By Don Jeffrey

    Jan. 26 (Bloomberg) -- Caterpillar Inc., Sprint Nextel Corp. and Home Depot Inc. led companies announcing plans today to cut at least 61,000 jobs as sales withered and construction slowed amid the global economic decline.


    Maybe all these people can get jobs building windmill blades.

    Every time facts such as this reveal themselves, bulls shed their horns and testicles.
  4. jjf


    CA is there already
  5. Well we know for sure if they're white they can't get jobs working on the nationwide infrastructure project.


    Racism at it's finest (but the media doesn't care b/c it's against white men).

  6. S2007S


    As I said back in MARCH of 2008 that unemployment rates were going to skyrocket and skyrocket they did with no signs of letting up. Unemployment rates peaked in September 1982 at 10.8%, I can almost guarantee you they will easily be well above that by the time unemployment peaks. Im thinking somewhere in the 14-18% range by 2010-2011.


    Registered: Aug 2006
    Posts: 7908

    03-17-08 12:53 AM

    Unemployment rates are going to skyrocket over the next 12-18 months, I really do think we will see rates as high as 8-10% by mid to late 2009...GDP will fall below 0%.
  7. boo hoo hoo cry me a river. The markets are surging. has is ever occurred to you that companies layoff people all the time? Unemployment isn;t that high.
  8. Not quite.
  9. BSAM


    Ba-Ba-Ba-Ba-Baaaaaby.....You ain't seen nothing yet! (BTO)