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Markel
08-31-2001, 01:28 PM
I work for the US division of a family-owned Japanese company. There is a reputation of being very hesitant to resort to layoffs. Well, they started the blood-letting this week. About half a dozen have gotten the tap. (Thankfully not me.) Things have to be really bad when they do this.
hapoo
08-31-2001, 03:28 PM
... and some say theres no recession :disa:
coleslaw
08-31-2001, 04:20 PM
My company had a big swoop of lay-offs a few months ago. Upper management told us that they cut just a little deeper than they needed to at the time, but that it was going to be the only time they layed people off, regardless of how the market behaves. They didn't want to do what our competitors had done and are doing by issuing a series of lay-offs over time.
OC
08-31-2001, 04:20 PM
Originally posted by hapoo
... and some say theres no recession :disa:

Not me. And now with the hundreds of thousands of layoffs, consumer spending is finally going down, which is leading to more layoffs. Investors are pulling their money out of the volitile end of the market, which devalues stocks, which puts companies in a pinch, which could lead to still more layoffs...

Sounds like a recession to me.

-OC
Grimm
09-01-2001, 04:53 PM
Originally posted by hapoo
... and some say theres no recession :disa:

Technicaly, no there isn't. There has to be an actual decrease in the GNP for a recession. It is just having much smaller growth right now. But if you adjust it for the peoples entering the work force...
Grimm
09-01-2001, 04:56 PM
Originally posted by coleslaw
My company had a big swoop of lay-offs a few months ago. Upper management told us that they cut just a little deeper than they needed to at the time, but that it was going to be the only time they layed people off, regardless of how the market behaves. They didn't want to do what our competitors had done and are doing by issuing a series of lay-offs over time.

Surrrrrre they aren't going to have another round of layoffs.

We had some about 6 months ago. 10% gone. Looks like we'll take another 10% in the next couple of months, if not days. It was just a one time thing too...