Mystified by Downsizings, Strong Economic Statistics
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Announcements of cuts, layoffs, downsizings, etc. appear daily in The Times, yet the economy is said to be in great shape with job growth.
Nowhere is it stated that many of those “cut” are in their 40s and 50s and stand little chance of finding other employment at their current salaries.
The term “early retirements” is laughable; get real! How many forty- or fiftysomethings can afford to retire for 30 years? We can exclude all those CEOs and executives with golden parachutes who walk away with millions in their packages.
The government continues to announce job growth, but nowhere is there a mention of the high percentages of this growth in so-called service industries: e.g., fast-food-chain hamburger flippers, or temporary workers with no health insurance or pension benefits.
If companies can make a profit only by laying off employees, should the executives receive exorbitant bonuses?
What ever happened to the “middle class”?
FAYE BRANDT
Los Angeles
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