CNN: "Job cut plans accelerate: Firms set 104,530 November cuts"

[Bush_Eats_Beef]

Job cut plans accelerate
Survey: Firms set 104,530 November cuts, ending first 3-month stretch at that level since '02.
December 7, 2004: 2:52 PM EST

http://money.cnn.com/2004/12/07/news/economy/jobless_challenger/index.htm?cnn=yes

NEW YORK (CNN/Money) - Hit by rising health care and energy costs, employers announced more than 100,000 job cuts in November, capping the first three-month stretch above that level since early 2002, an outplacement firm said Tuesday.

Challenger, Gray & Christmas Inc. said companies announced 104,530 job cuts in November, up 5.1 percent from a year earlier and 2.6 percent from October.

The September through November totals mark the first time that announced job cuts have topped 100,000 for three or more straight months since January to April of 2002, the firm said.

"Higher health care and energy costs for employers and employees are definitely taking a toll. Companies are being forced to enact more cost-containment measures to protect profits," the firm's CEO John Challenger said in a statement.

[bling bling]

1. Give 'em some more tax cuts!!

That's worked soooooo well so far. (sarcasm)

[Shakespeare]

2. Merry fucking Christmas.

Until the government does something to control how insurance companies invest their money, the situation will not improve. And I think we all know what the chances are of the current regime putting any controls into place...

[Lone_Wolf]

3. Seems like the bastards held off on layoffs...

until after the election...

[Bush_Eats_Beef]

4. Yes, layoffs and outsourcing

There were multiple articles on this which were posted on DU leading up to the election.

Big business and its big gift to its biggest benefactor, George W. Bush: there was an across-the-boards agreement to keep outsourcing and layoffs to a minimum until after November 2nd so he could trumpet the "success of his economic policies."

Then, after November 2nd:

"Gasoline can, say hello to lit match. Lit match, say hello to gasoline can."

If you look at the number of layoff / outsourcing threads on DU in just the last WEEK, all of this is ringing true.

:grr: