Time magazine recently asked why these companies are laying of people by the thousands when the economy is ‘on the mend’.
If there ever was a magazine of propaganda it is Time magazine. The economy not only isn’t recovering, it’s quite impossible at this point to recover without some serious pains.
America will soon engage in QE 3, or 4 or 5 (hey, who’s counting?), because our entire economy is a sham and would fall if we truly stopped printing money. Europe is about to start QE and we will be playing this game of racing our currencies to the bottom until it all comes tumbling down.
Why?
To be very brief, our money is created with debt attached to it, forcing us to expand credit and the money supply every year or it all shuts down. Our entire economic system is a con game. But the fiat game of money can’t go on forever and usually sees a death or drastic change every 30-40 years, and we’re overdue. See the video below.
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning”
–Henry Ford
eBay: 2,400 jobs
On Wednesday, eBay announced it would be cutting 2,400 jobs in the first quarter of 2015. The company says that the layoff figure includes positions that are unfilled, so the actual number of people losing their jobs will be less than 2,400. What’s more, eBay points out that the figure represents only 7% of the company’s total workforce. (Are we the only ones surprised to hear that eBay currently employs 34,600 people?)Among the factors influencing the layoff decision: “Weak holiday sales” and revenues that have been lower than analysts expected, as well as a company restructuring in anticipation of the spinoff of eBay’s online payment service PayPal. The company said it may also spin off a third division, eBay Enterprises, which runs e-commerce operations for other companies, explaining in a statement: “It has become clear that [eBay Enterprise] has limited synergies with either business, and a separation will allow both to focus exclusively on their core markets.”
As for weak sales, one reason eBay is suffering is that, unlike Amazon—which effectively uses its Amazon Prime membership program to create legions of shoppers who make the vast majority of their purchases at its site—many eBay customers use the site randomly and haphazardly rather than habitually. “It’s the infrequent shopper that comes two, three, four times a year,” eBay CEO Donahoe toldUSA Today. “They didn’t come back at the rate we thought.”
American Express: 4,000 jobs
During the course of 2015, AmEx plans on cutting costs by trimming 4,000 jobs after failing to meet long-term revenue growth target of 8%. The Wall Street Journal pointed to “a stronger dollar, a weak December for retail sales and the sharp drop in gas prices” as forces that hurt the company’s fourth quarter results—which actually showed revenue and profits increasing, just not enough to satisfy investors. The 4,000 layoffs represent 6% of AmEx’s total workforce of roughly 63,000.Baker Hughes & Halliburton: 8,000 jobs
The two energy companies agreed to merge last autumn, and bothended the year strongly, with Halliburton posting revenues up nearly 15% and Baker Hughes achieving record revenues for the quarter. Nonetheless, in light of plunging crude oil and gas prices, oilfield services provider Baker Hughes announced plans for layoffs of 11% of its workforce, roughly 7,000 employees, while Halliburton plans for about 1,000 job cuts of its own.“This is really the crappy part of the job, and this is what I hate about this industry frankly,” Baker Hughes CEO Martin Craighead said this week in a conference call with analysts. “This is the industry, and it’s throwing us another one of these downturns, and we’re going to be good stewards of our business and do the right thing. But these are never decisions that are done mechanically.”
Schlumberger: 9,000 jobs
Another oilfield services company, Schlumberger also reported surprisingly strong fourth quarter results despite the steep drop in oil and gas prices—and it too recently announced big-time layoffs. Last week, the company said it had laid off 9,000 employeesworldwide in late 2014 as profits fell and demand for oil retreated.
NO really they are going to FIRE 900 American People and give those 900 jobs to illegals because they can pay them less
This is the wonderful and recovering economy Obama was bragging out in his SOTU. The numbers are all altered by the Obama administration to try to make this loser appear to be winning. When the number of people working one job equals the number of people working one job in 2006, they I’ll consider the economy “fixed”. Now, we have too many people sitting at home and feeding off the government teat.
blame Illinois politicians greed
http://www.youtube.com/watch?v=Gy7FVXERKFE&feature=youtube_gdata_player
Obama Keeps saying he is helping the economy, and we keep seeing reports of people losing their jobs.
did u the lay offs ?of businesses?
Ever think the decline in prices are linked to the supply? Think! GMO grains are being rejected everywhere but here. Exports have tanked and corn, soybean and other GMO crops are refused entry into China, Russia and other countries. WAKE UP. No one wants GMO c**p; it has NO benefit except to lock in farmers to Monsanto and sell massive quantities of RoundUp.
Obummers economics put everyone on food stamps under gov. control.
This is more proof of Obama’s economy doing so good. Oh wait, no it’s not. Actually, this is more proof of Obama lying about the economy recovering. The economy is in the toilet and everybody knows that. Get that gay treasonous muslim traitor out of our white house and stop him from sending all of our tax dollars to his muslim brothers and our economy can recover. Plus bring back our American jobs. Reverse all trade agreements to move the American jobs to any foreign country. Reverse NAFTA that Clinton put into place. Help any American company that keeps jobs here and tax the hell out of any American company that moves jobs out of the US.
Not good