As the economy continues to struggle, massive corporations are laying off more and more workers. In fact, for 15 straight weeks, more than 400, 000 Americans have filed new unemployment claims. CBS News Online reports that “companies are trying to do more with less.” Large corporations are aiming to cut costs, but still meet consumer demand. Thus, cost cutting strategies are all about increasing productivity–not their labor force. Consequently, companies not only have less incentive to hire new workers, but they also are more likely to layoff current workers. The image above displays some recent layoff statistics.
Cisco: 6, 500 Layoffs
Goldman Sachs: 1, 000+ Layoffs
Lockheed Martin: 6, 500 Voluntary Layoffs
SOURCE: CBS News Online