Say NO to Pink Slips

The past two years have brought about a lot of talk of jobs losses and gains. America has been out of work for the past couple of years but when will the jobs return?

Europe is in a financial crisis that has the world shaken. With other countries on the brink of disaster people are thinking the United States could face even more layoffs country wide. This is not good news for anyone.

The unemployment rate is still at a high and many executives think that companies are not going to hire more people. The number is still shocking and the solution is simply more jobs.

“I think people are in the process of dialing back 2012 expectations and that will bleed into whatever they were planning,” said Michael Neal, a General Electric Co vice chairman who heads the company’s GE Capital finance arm. “My view is they continue to stay with a tight belt and I think it means less hiring than they would have done otherwise.”

Anxiety is not decreasing at market reports are still at all-time highs. Even executives are finding it hard to remain positive in this disastrous economy. People should have listened to President Roosevelt when he said “there is nothing to fear but fear itself.”

That quote is hard not to fear when places like JPMorgan are cutting jobs in the banking world. The United States is lacking confidence and that is something it needs in this economy.

A more shocking set of news is that Bank of America will cut almost 30,000 people from their payroll. This is a large part of their company and is very scary. Several other large corporations are threatening major job cuts as well.

While larger companies are cutting people, smaller companies are hoping to add workers to their workforce. The overall percentage is down in the number of hires they plan to complete but at least it is still there on some level.

Companies are looking for ways to cut their overall spending as well. If the economy does not increase, then the United States can expect companies to not hire more workers. It is a cruel fact of reality that companies have to do this.

Pinching pennies is in the forecast for many companies. No one is safe from the cuts that are going on in retail companies.

“Analysts have lowered their growth forecasts for the companies of the S&P 500 and now look for overall profit for the group to rise 12.5 percent in the third quarter, less than the 17 percent they expected at the start of July.”

With the holiday season right around the corner, many are hoping that is a positive sign to the growth of the economy. Some companies cut so much of their workforce when the recession first hit that it will really harm them if any more is cut.

“There might be some firms that decide to preemptively cut, but I think that many firms are pretty lean and mean.”