After trying to nip and tuck and otherwise work to cut costs, Employers around the world resorted to massive layorss.  According to an article in the New York Times, more than 62,000 employees worldwide found themselves out of a job on Monday.   More than 50,0oo employees were laid off the in the United States, alone.  [...]

The California jobless rate has reac hed alarming proportions at 9.3% unemployed.   The Los Angeles County unemployment rate, according to an article in the Los Angeles Times, is 9.9%.  Of coursse anyone knows that these number are merely approximations as it doesn’t reflect those who are either chronically unemployed or have seen their unemployment benefits [...]

Corporate Bankruptcy just isn’t what it used to be.   Until fairly recently companies would file for bankruptcy as protection while restructuring.   That isn’t the case anymore.  According to a recent article in the New York Times, corporations file for bankruptcy and then move on to liquidation. There are many reasons for this change in the [...]

The entertainment industry was once thought to be recession proof.  No longer.  In fact, show business is experiencing extensive employment layoffs and salary cutbacks, much like every other industry.   Because of the economic downturn, even movie stars are being forced to take less money for their film and television productions.   There is a large push, [...]