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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (34228)	7/26/2005 12:34:28 PM
From: CalculatedRisk	Respond to of 116555

Speed bump Commentary: Corporate America is slimming down marketwatch.com EXCERPT: HEMPSTEAD, N.Y. (MarketWatch) -- A funny thing happened on the way to solid economic growth over the next few quarters: a sudden spurt in layoffs. Buffeted by a wicked combination of rising costs and falling productivity Corporate America is doing what comes naturally: cutting staff. One after another, America's behemoths have announced that they plan to slim down. In just the past two weeks alone, job cuts totaling around 90,000 have been announced by the likes of Sprint, Nextel, International Paper, Hewlett-Packard, Northwest Airlines, Kodak, Ford and Kimberly-Clark. To put this figure in perspective, June's announced layoffs reached 111,000 - the most in 17 months, according to the outplacement firm of Challenger Gray &Christmas. At this rate, July's totals could well be one of the largest since the last recession. <MORE>