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Kristy Hammonds, 31, and Michael Setzer, 32 lost their jobs this week is the most ignominious and potentially costly way possible

 

just google the word "Dominos" for more info ;-)

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I think recently the media are trying to fool everyone that the recession is over, therefore any negative news like this would be suppressed. There has been all kinds of crap coming out, like how Intel did better than they expected etc.

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hmmm ... isnt it normally the case that jobs are lost well after the nasty r word is mentioned for the first time....and that the lovely recovery word is not enough to keep people in jobs once the downturn has reduced profits to the point where business can not carry those people for a few extra non profitable months without jeopardising the business itself.

 

The world economy may well be inching toward a slow recovery - but it will still be months or years before trade is again at a level that those jobs need to be recreated.

 

I hope we have seen the worst.

It is horrid for people to be battling to keep a roof over thier heads and food in thier kids mouths.

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It's only the end of the beginning, it's begun to happen at an accelerated pace. Banks are shedding hundreds at a time, the middle to senior levels, this time. It's never happened in the past downturns.

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Originally Posted By: thursday
It's never happened in the past downturns.


What about the biggie in the 30's?
Did it happen then?

I wonder if it is not a smart thing for business to shed staff and shrink the business expenditure at a time of great risk to save the business so that when it picks up again (and it will) there are jobs for those people again. Not fair for the people being 'shed', but the reality is that if you employ 150 people and are exposed to potential disaster, and can avert that disaster by shedding 50 and keeping 100 at a reduced pay rate then in the end you have mananged to keep the business viable and keep 2/3 of your workforce employed.

If companys held onto all of thier staff defiantly against the wave of recession, they may well have no business and EVERY ONE of thier employees is without a job.
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employees can help by accepting one day's no pay leave per week until they get out of the woods. But then there are all too many expoitative employers out there.

 

I mean if it saves a headcount from our department, then I'm all for an extra day off a week. Means losing 14% salary, but it's only temporary pain.

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