Job Loses on the Rise

The New York Times has another article about the downward trend in employment. You have to do a free registration to read the article. I think all of us working in production already know. Some of us are watching as layoffs occur.

As the financial crisis cuts demand for American goods and services, the workers who produce them are losing their jobs by the tens of thousands.

Some industries have been hit hard and fast; heavy appliances, automobiles, expensive consumer goods like TVs.

In just the last two weeks, the list of companies announcing their intention to cut workers has read like a Who’s Who of corporate America: Merck, Yahoo, General Electric, Xerox, Pratt & Whitney, Goldman Sachs, Whirlpool, Bank of America, Alcoa, Coca-Cola, the Detroit automakers and nearly all the airlines.

With the current mood I am sure we have not seen the bottom of the tightening yet. So factories will continue to see lack of work.