DavidM | April 6, 2009, 3:28am | #

Most of the employees are facing anxious moments due to the recent layoffs. The employer needs to take necessary steps to face the global recession like reducing the number of employees, reducing the pay rates to make sure of their sustainability. Layoffs are an epidemic. It seems at times that a return of the plague would be preferable to more layoffs (Not really.) Well, the number of layoffs and more payday loans being taken out are attributable to the people that many thought to be the newly untouchable group – the hi-tech industries. Well, hi-tech isn't quite high profit as much anymore. The recession has forced people to cut back on their tech toys, so software and hardware developers have been shedding employees. IBM, for instance, just farmed out 5,000 jobs overseas. (Executive bonuses and oriental rugs in the office MUST be protected.) It's a sad day in yuppie communities, as the thing they wished to avoid from the blue collar world is now hitting their neighborhoods as well: