Mass layoffs continue
By Greg Butterfield
According to the media, happier economic days may be around
the corner. But as President George W. Bush continues his
"endless war" abroad, workers in this country are still reeling
from economic assault on the domestic front.
In April the official U.S. unemployment rate hit 6
percent--the highest rate since 1994. In May mass layoffs
continued unabated.
International Business Machines announced plans to cut 7,950
to 9,540 workers. (Reuters, May 10) A Boston securities firm
told its clients that IBM plans to lay off 1,500 people in
Burlington, Vt., and sell off its huge microprocessor plant
there. (Boston Globe, May 14)
On May 17, aerospace giant Boeing issued 1,500 pink slips.
The layoffs take effect July 19.
Last September Boeing announced that it would slash 25,000
to 30,000 jobs by the end of 2002. (Associated Press, May 17)
Unions are fighting the layoffs. They have charged the company
with using the Sept. 11 disaster as an excuse to push through
already-planned job cuts.
On May 14, SBC Communications of San Antonio, Pacific Bell's
parent company, announced 1,000 job cuts in addition to 8,000
previously announced. SBC left open the possibility of more
cuts later this year. (San Francisco Chronicle, May 15)
Other recent layoffs include Bell South--5,000;
DuPont--2,000; and Winn-Dixie--5,300.
"Companies are far from finished when it comes to thinning
out their ranks," said John Challenger, chief executive of
Challenger, Gray and Christmas, a company that monitors job
trends. (Reuters, May 2)
Reprinted from the May 30, 2002, issue of
Workers World newspaper
This article is copyright under a Creative
Commons License.
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