Many Get Pink Slips Instead of Turkey
- Share via
NEW YORK — Merry Christmas, you’re fired!
Instead of a bonus or turkey, many workers have been getting layoff notices for Christmas. Despite signs of an improving economy, companies are pressing ahead into the New Year with staff cutbacks to try solve their problems.
Lastweek, IBM said it would eliminate 25,000 jobs next year, and indicated some of the reductions might be made through the company’s first-ever layoffs.
Ford Motor Co. said it will slash 10,000 jobs in its British operations by April 15. And Steelcase Inc., an office furniture maker, notified 1,000 workers they might be dismissed in February.
Poor corporate performance and the weak economy are usually blamed for layoffs, but American Management Assn. researcher Eric Greenburg said “downsizing in large companies is not a child of recession.”
To many workers, the Christmas season is just about the worst time to find out they might lose their jobs. And over the last few years, thousands have gotten the bad news during the holidays.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
