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Wednesday, July 20, 2005

The Economy is Booming...

unless you work for Hewlett-Packard:
Hewlett-Packard said yesterday it will cut 14,500 jobs worldwide over the next 18 months in an effort to become more competitive with rivals Dell and IBM.
or Kodak:
Eastman Kodak Co says it is cutting as many as 10,000 more jobs as the company that turned picture-taking into a hobby for the masses navigates a tough transition from film to digital photography.
or the Auto or Retail industry:
The U.S. auto and retail sectors slashed tens of thousands of jobs in June, bringing the number of planned job cuts to 110,996, the highest in 17 months, according to outplacement firm Challenger Gray & Christmas Inc. Corporate announcements of job reductions increased 35% from May's 82,282, and were up 73% from June 2004's 64,343, Challenger said Wednesday. Cuts are up 92% since April. So far in 2005, planned job reductions are up 14% year-to-date to 538,274. The automotive sector announced 45,378 job cuts in June, while the retail sector axed 24,065.

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