Tag: downward spiral

Bank of America Slashes 35,000 Jobs in 3 Years

Paul

This one hit me hard in the chest.  I must say this was a big surprise to me and others but it looks like Bank of America is going to cut 30,000 to 35, 000 Jobs in the next 3 Years.   I’ll will quote Huffinton Post:

NEW YORK — Bank of America Corp. said Thursday it expects to cut 30,000 to 35,000 jobs over the next three years, as it faces a deteriorating economic environment and tries to absorb Merrill Lynch & Co.

[Via Huffinton Post]

[ad#ad2-right]Now this one will affect the Whole US and some other International in the coming years. It is based on the Economic Stresses we are getting hit with right now. I am saddened and disturbed by how many people have loss there jobs. I have lost count as to how many people have losed their jobs over this economic downward spiral as Jason Calicanis once said. I can only hope that we can get up after this and fix what went wrong in the first place. I also know that it is quite hard to get hired in this day and age. So what is to become of the hard working men and women? Will the Government have to pay for housing for even more people? These are all questions we must answer soon in order to prevent a disastrous depression.

Mattel introduces the new Welfare Barbie.

Paul

[ad#ad2-left]Mattel will be introducing the new welfare barbie doll,or laying off 1,000 jobs. According to Bloomberg and I’ll quote:

Mattel Inc., the world’s largest toymaker, said it would cut about 1,000 jobs, or 3 percent of its global workforce, as it faces higher manufacturing costs amid the worst financial crisis since the Great Depression.

[via Bloomberg]

If you’re like me and you want to cringe every time you hear another place is laying off people. I say we are still in a downward spiral. Everyone is saying that even Jason Calacanis, in his recent email he sent to all his fellow readers, he talked about the Rich not buying anything they didn’t need. He said that is good, I however wonder how far the hole goes before we hit rock bottom.

[ad#ad2-right]According to some analysts, they are talking about this lasting another year or more. On another note, according to Kotaku and I’ll quote on this one to:

We have received a letter purportedly sent by THQ CEO Brian Farrell to explain to his employees the reasoning behind the company closing five studios and laying off staff from two others. The closed studios are Helixe, Sandblast Games, Locomotive, Mass Media and Paradigm.


[via Kataku]

Now I’ve talked enough about Layoffs in the past and I won’t talk to much but I do hope this changes in the new future. If you want to find the other ones that I talked about just search my site, they are all there with out any problems.

[Thanks to Kyle Rees for the suggestion on the heading]