When there's no lending, families can't afford to buy homes or cars, so businesses are forced to make layoffs.
It points out that most such systems make layoffs artificially cheap for firms.
Too many have been content to make superficial layoffs to please Wall Street analysts, in the hope that they can avoid more painful changes.
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The reason: Hemorrhaging 401ks and massive layoffs make guys crave the security of the old and familiar.
The company was forced to make its first ever layoffs, of 120 employees, one-fifth of its workforce.
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Of course the rest of the economy is not going to make up for the loss of production in the train building sector or reduce unemployment enough to make up for sector layoffs.
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His three professed principles were to deliver promptly on promises, to avoid layoffs and to make certain that his employees trusted the quality of management's leadership.
Once massive layoffs started to make daily news headlines back in 2008, observers of the labor market quickly turned their attention to the disparity between job seekers with higher education and those without.
It plans to make the cuts through a combination of layoffs, attrition, voluntary leaves and leaving job openings unfilled.
On the other hand, we were able to do that precisely because we wanted to prevent layoffs and we wanted to make sure that we sent a signal that everybody is going to have to make some sacrifices, including federal workers.
There are 57 police officers who are still on the streets of Minneapolis tonight because this plan prevented the layoffs their department was about to make.
While New BAC sounds fancy, it is really a euphemism for layoffs, consolidations and improving processes to make the Company run more efficiently with fewer employees.
For many of you, that meant restructuring and branch closings and layoffs that I know were very painful to make.
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And we have to work with state and local governments to make sure they have the resources to prevent the likely layoffs of hundreds of thousands of public school teachers across the country over the next few months.
The district, which avoided teacher layoffs during the economic downturn, sees the plan as an opportunity to make more money without raising taxes.
Shaiken says the union is willing to make concessions now to try to help the company survive so it can avoid massive layoffs later.
And I also have to tell you that I am concerned because state budgets have not yet recovered, and you're now seeing a whole bunch of state and local governments who were able to put off layoffs last year, as the recovery money is running out, having to make some very tough decisions.
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