I saw on the news they are cutting 10% of their workforce.

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robert.loehmann
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I saw on the news they are cutting 10% of their workforce.

Postby robert.loehmann » Fri Nov 07, 2008 8:14 pm

On the evening news tonight they said American Express is laying off 7,000 of their employees which works out to be 10% of their worldwide workforce. This is not good.


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fffresh
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Postby fffresh » Sat Nov 08, 2008 2:58 pm

Unfortunately, yes it's true. Jobs are being slashed in nearly every industry across the board right now.

AnthonyBarone
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Postby AnthonyBarone » Sun Nov 09, 2008 10:48 pm

Rumor has it that DHL is going to layoff another 8,000 folks tomorrow in one Ohio town alone. It looks like things are going to keep going downhill. Any of you know if the holiday hiring has already been done? We are going to see a wave of problems when all those folks hired for holiday help are left without any job at all after the new year.

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fffresh
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Postby fffresh » Mon Nov 10, 2008 10:09 pm

Your rumor was correct and a lot worse. DHL is ceasing operations completely in the United States. Not only will the $8,000 in the Ohio town be without work but also any other DHL employee in this country.

I am suspicious of what the true unemployment rate is in this country now. As previously discussed on this forum the way unemployment is calculated is drastically different than it was in the eighties and much different than during the Great Depression. Today lost jobs are no longer counted after 180 days and there are a number of types of employment excluded from the total figures. Much in the same way the government inflation number is manipulated. If the truth were to come out about how bad the economy is panic would be even greater than what we are seeing presently.

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Postby kiboko » Thu Nov 13, 2008 7:10 pm

I'm still employed but because I make commission I'm not making ANYWHERE NEAR what I use to. The employment situation is A LOT WORSE if you count people like me.

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Postby AnthonyBarone » Fri Nov 14, 2008 7:55 pm

I'm in the construction biz and boy let me tell you I'm not bringing in jack shit anymore. I don't even think I'll bring in enough this month to cover our basics. Times are tough and jobs are hard to come by anymore. Folks are either unemployed or employed and not bringing much in. I've never seen anything this bad before.

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The Fuzz
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Postby The Fuzz » Wed Nov 19, 2008 8:31 pm

I don't think it is 10% of the workforce. They only said they were cutting 7000 jobs and nearly 1000 of those were open positions that they chose not to fill. So really that is only 6000 jobs. That is a lot better than the 52,000 jobs that Citigroup is going to cut.

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Postby Floppster » Thu Nov 20, 2008 8:50 pm

Lot of jobs will be lost in the current economy, lot of companies will go bankrupt in the current economy however it is not the first time we are in such debt hole. Is it bigger than it was the last time ? Yes! However we will go over it. We can not give up now. We'll all know that one day it will go uphill again since it can't get any worse.
Intellectuals solve problems. Geniuses prevent them.
- Albert Einstein 1879-1955

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Cucumber
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Postby Cucumber » Fri Nov 21, 2008 3:44 am

Well actually.... it can get worse :(

Why is it that 10% is the magic number?? The past two weeks every company that is cutting jobs says they are cutting 10% now. I guess that's their plan for economic stimulus with the bailout money. HA!
OBAMA
Stop talking crap about him!

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fffresh
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Postby fffresh » Sat Jan 24, 2009 10:51 pm

The layoff has spread to American Express India also-

American Express lays off more Indian employees- Jobs-News By Industry-News-The Economic Times

Frankly I would like to see 100% of the Amex Indian customer support reps laid off. Those foreign service reps not only take much longer than Americans to handle resolve a problem, they also infuriate us and tarnish the image and quality of the company.



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