Thursday, October 07, 2004
Is Anyone Actually Working Any More?
AT&T Cuts 7,400 Jobs, Asset Value by $11B
The company announced Thursday that it now plans to shrink its work force by a fifth, or about 12,300 jobs, during 2004 -- up from a previous target of about 4,900 jobs.And from earlier today
CHARLOTTE, N.C. - Bank of America Corp. said Thursday it will cut another 4,500 jobs beginning this month as a result of its merger with FleetBoston Financial Corp. and declining business in mortgages.And let's not forget this one
U.S. I.T. services firm Unisys (NYSE: UIS - news) said it will cut 1,400 jobs, mainly in general and administrative areas, and consolidate its office space worldwide. The job losses represent 3.8 percent of Unisys's total staff of 37,000.The headline writers for the Associated Press are always upbeat, however:
Employment Report Might Show Improvement
The subhead, however, adds the caveat, "...Despite 16,000 Layoffs This Week".
Read the full story and full list of layoffs. I'm sure Bush will manage to find the silver lining somewhere. They've already managed to say that day is night with the report that says absolutely, positively no WMDs were found.
Did I mention that oil prices topped $53 a barrel, retail sales were weak, and no one trusts the drug companies any more?
Good late afternoon-early evening, my friends. I was supposed to go out and paint today, but what with redecorating, blogging, and savoring the disintegration of the Bush administration at every turn, I never got going. Never mind, I probably would have found it too beautiful again. Tomorrow is supposed to be rainy. I can hardly wait.
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