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Jobs Layoffs, Slaughter on Main Street

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.  In one day.

This isn’t just a few layoffs.  This is a slaughter of the labor force.   If anyone had any doubts about the difficulties major employers are encountering, this should certainly put them aside.   Even companies, like Caterpillar, that were touted as being posed for a comeback with the Federal cash infusions and the rebuilding of the infrastructure reduced its workforce by 20, o00 employees.

“This steepens the whole downturn,” said labor economist Harry Holzer, of Georgetown University.  I’ll say.   I thought we were in big trouble when on a recent Sunday the supposed experts couldn’t answer the more fundamental questions about economic rebound, the advantages of cash infusions and all the other stuff we want to know.  Watching them hem and haw, fudging their answers, I thought, “It’s really the case of nobody knowing nothing.”

So maybe there should be a general pool where you put up your money and predict when the economy will finally hit bottom.   You pick a date when the economy will flatten out, and perhaps another date when we can foresee an ecoonomic rebound.   The winner will e awarded with a job.

Check them out before you hire.  When you hire.

By Gordon Basichis

Gordon Basichis is the Co-Founder of Corra Group, specializing in pre-employment background checks and corporate research. He has been a marketing and media executive and has worked in the entertainment industry, the financial, health care and technology sectors. He is the author of the best selling Beautiful Bad Girl, The Vicki Morgan Story, a non-fiction novel that helped define exotic sexuality in the late twentieth century. He is the author of the Constant Travellers and has recently completed a new book, The Guys Who Spied for China, dealing with Chinese Espionage in the United States. He has been a journalist for several newspapers and is a screenwriter and producer.