US firms announce 104,530 job cuts in November, survey shows Yahoo! News (12.7.04)
WASHINGTON (AFP) - US employers announced plans in November to step up job cuts, with the total exceeding 100,000 for the third month in a row, an industry survey showed.
Employers posted 104,530 cuts in November, up 2.6 percent from the previous month, according to a survey sponsored by international outplacement firm Challenger, Gray and Christmas.
Government workers were hardest hit, with 21,971 cuts, followed by telecommunications workers, with 21,158 job losses.
"Not only are more companies announcing job cuts, there are more jobs being eliminated in each announcement," said the outplacement firm's chief executive, John Challenger.
"This volatility could continue into 2005 as competition forces more companies to consider strategic combinations," he said in a statement.
"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."
Yes, yes: blame health care and energy costs because they threaten profits. How dare workers expect to be able to take care of themselves when sick or injured or be warm in their hovels when it's cold? Can't they see their greediness hurts the Investor Class? Shame on you workers!
Challenger said a weak labor market could hurt the crucial holiday shopping season.
"The biggest worry for the economy is that the large number of lower-middle-class and middle-class Americans struggling to make it paycheck to paycheck will be short of discretionary income during the holiday shopping season," he said.
Silly workers, why are you holding on to your meager incomes (noting that wages have fallen throughout the Bush Co. reign)? Don't you know the terrorists will win if you don't go shopping? Did you learn nothing from September 11th (queue Toby Keith or Lee Greenwood) as you sat horrified watching those selfish Eastern Liberal Elites being attacked on TV like some bad Bruckheimer film? Not shopping during Christmas is just what they want!