Layoff mania is not over yet. In fact it hasn’t started yet to a full extent. Many companies, especially big ones are wildly depending on layoffs to defend themselves from the economic crisis and recession.
The interesting fact here is that layoffs of a group with at least 50 people have not been seen to this extent since the September 11 attacks.
As we have already seen declination in main industries like manufacturing, automobile, etc., we can expect much layoff from these sectors.
Especially Mass layoff events have never been to this extent since 2001.
What can poor companies do? They have no much business now and the situation is so horrible that some great firms are still trying hard to deprive themselves from going bankrupt. Now who wants to have additional issues of payments in these critical times?
US census bureau has released some data on mass layoff events. There was nothing much positive in it.
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