More than 68,000 job cuts were announced today. This is yet another low blow to an already dwindling job market. In this early stage of 2009, two hundred thousand cuts have already been made since the New Year began. Among the companies continuing this downsizing trend are Fortune 500 heavy hitters such as Caterpillar, Pfizer, Home Depot, Sprint and the financial group ING.
More than 2.6 million jobs were lost last year alone. It was the highest job loss ratio since 1945, the latter end of the Great Depression where jobs were sparse and necessities were few. These statistics give wonder to the question . . . “Are we heading in the same direction?”
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