Now you know where you stand in the scheme of things, American worker.
"Companies are quick to slice their workforce" by Robert Weisman, Globe Staff | November 26, 2008
A growing number of jittery companies are slashing jobs not because business has slowed, but because they are afraid it will, a trend some economists warn could intensify the downturn.
Philips Healthcare had welcome news for investors last month when it posted its third-quarter financial report: Sales were up 5 percent, and profit 4.8 percent. So employees were taken by surprise last week when the Andover company, which makes defibrillators, electrocardiogram monitors, and other medical gear, disclosed it was slicing 5 percent of its global workforce, cutting 1,600 jobs worldwide, including fewer than 100 in Massachusetts....
But, but, but... I thought biotech was going to save us!?!
Related: The Massachusetts Miracle
I thought THOSE were supposed to be the JOBS of the FUTURE!?!
While all businesses are grappling with murky forecasts, the uncertainty is being felt most keenly by global companies. In addition to anticipating a drop in sales, they also face declines in offshore revenue as a result of the strengthening dollar - the reverse of the situation a year ago, when the dollar was losing value. --more--"
Awww, the POOR MULTINATIONAL GLOBALISTS are allegedly hurting because of the econocmic "crisis." Like I really am going to have empathy for that band of criminal thieves and rapists.
Oh, the bias of the MSM in AmeriKa is knocking me out!!!! Time to hit some blogs!