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Layoffs Not an Option for Some US Companies

From CNBC.com

Revenue may be down and the pressure to slash costs intense, but some U.S. companies say job cuts are not an option. Companies that have avoided layoffs amid this recession are the exception, not the rule. U.S. employers have cut 5.1 million jobs since the recession began, including 663,000 last month alone. But some are looking to shave costs while keeping their work forces intact, so that when the economy does turn around, they’ll be ready to ratchet up production again.

Economists say that’s a wise move. “If you overshoot on the downside and lay off workers, it puts the company at a disadvantage when the economy comes back to life,” said Sean Snaith, economics professor at the University of Central Florida. Continue reading

04/22/2009 Posted by | hiring | , , , , | Leave a comment