Tuesday, January 27, 2009

More Lay-Offs Ahead

According to an article by Reuters, 70,000 people in the United States and Europe will have their lives turned upside down. After having the employment rug pulled out from under me, I am finding it more and more difficult to find a job in this market.

I have seen a number of job postings frozen or removed. Some employers are no longer hiring and they all say the same thing, "We don't know what the future is going to hold for us." Corporations lack confidence in the economy. I, too, lack confidence in the economy not because the outlook is bleak. My confidence is weak due to the fact that we are making the same mistakes over and over.

The governments around the world want to help, but throwing good money after bad does not make any sense whatsoever. Think about it. In most cases, we are enabling companies to continue to pay high salaries to their executives and provide them with bonuses. Companies are paying executives bonuses to lay people off in order to save the company.

In Sunday school a couple of weeks ago, a friend and member of my class, Dean, made an observation and it makes a lot of sense. When a company first gets started, they spend money to get talent and produce new products. I see the balance sheets of some companies and I am sickened by their cash reserves. I'm not asking them to spend everything, but employees and employers need to work together to keep the company moving forward. Too many people have been thrown to the curb like waste and left to fend for themselves.

As I look at the faces of individuals who show up to job fairs, I see the despair in their eyes. It is the same despair I saw in the eyes of the men photographed during the Great Depression standing in job or bread lines. There are times when I hear the song, "Buddy, Can You Spare a Dime?"

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