Citibank is cutting another 53,000 from its payroll, on top of the 22,000 job cuts it has already announced. JP Morgan is also expected to announce job cuts today - the bank has already told contractors to accept lower day rates or find work elsewhere. Royal Bank of Scotland also said today that it is cutting 3,000 posts from …
And how many of these lay-offs will be in the we-allowed-this-mess-to-occur-in-the-first-place Management levels?
And what are the company’s leaders cutting back on? No bonuses, no perks I don’t think so.
How much are they paid a year and if their companies are failing why do they keep getting more money? They should be the first to take pay cuts and loose all their perks.
But wait I work for a living I don’t know enough to say what they should do. At least that is what the COO of my company says.
Shock and awe
Sounds like a typical 'shock' effect to me.
Corporations *say* that they are in big trouble. get £billions of your money. Then lay you off. Then you taxpayers have to pay back the loans that the govt raised to give them the billions.
Poor -> pay for it
read some Naomi Klein people.
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