From Financial Week, 1/28/08:
http://www.financialweek.com/apps/pbcs.dll/article?AID=/20080128/REG/600868279/1036
Layoffs coming, and in large numbers, survey finds
By Mark Bruno
Corporate executives are poised to start making substantial cutbacks
in their staffing, according to a new forecast by employment
consulting and legal firm Career Protection.
In fact, the firm is predicting a 37% increase in layoffs this year
over last, based on a survey of more than 1,300 corporate executives
and senior level officials that was conducted earlier this month.
The layoff forecast registers as the worst in the last five years,
according to Career Protection officials.
They also indicated that the firm has already been “inundated” with
inquiries from employees at a number of companies that announced
layoffs earlier this month, including Bear Stearns, Chrysler,
Citigroup, Ford, Covidien, General Motors, IndyMac and Sprint Nextel.
If there is a silver lining, it’s that the executives surveyed said
that they do intend to provide severance packages to employees whose
positions are eliminated.
Broadly speaking, however, these severance packages will not be as
generous as those that have been paid out in recent years, according
to the Career Protection survey.
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Harry
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