Monday, November 10, 2008

Bad News for Jobs

Two big hits on the jobs side today. First, switching from just closing hundreds of stores, Circuit City has filed for Chapter 11. I can remember thinking a year or so ago when they fired all their experienced sales people for the cheapest folks they could find that this would be their demise. Continued poor and increasingly declining sales says it all when you couple it with a tighter economy and competing for for fewer and fewer buyers. How'd all that cheap labor work for you there CC?

DHL has also announced a global reduction of 40,000 jobs with 20,000 in the U.S. While they didn't specifically say they were shutting down U.S. operations that 20K in jobs is basically their entire U.S. workforce plus some(Canada?). This will hurt us in the logistics field as that is one fewer player to keep the game competitive.

The carnage widens.

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