John Challenger
John Challenger
Challenger, Gray & Christmas, with headquarters located in Chicago, Illinois, is the oldest executive outplacement firm in the US. It has offices throughout North America...
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The only clear picture we have from the job cut numbers this year is that employers appear to be confused about the direction this economy is taking, ... Companies are experiencing increased business, but they are also seeing their costs soar due to higher fuel prices, inflation in supplier prices and a weaker dollar, which makes it more expensive to buy foreign parts.
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Overall, job cuts are down from last year and significantly lower than the record numbers we saw in 2002 and 2001, but there are still some worrisome trends,
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It may seem as if the light at the end of the economic recovery tunnel keeps getting farther away, but our research has shown that there are opportunities for the growing numbers of Americans who suddenly find themselves unemployed,
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Companies are looking at their staffing needs for the balance of 2001 and the numbers do not present a very positive picture. The most worrisome aspect of the job-cut numbers, in terms of serving as an economic barometer, is the fact that job cutting has been heaviest in both manufacturing and technology.
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Because of the declining numbers of students in computer science and engineering, companies are looking overseas for tech-savvy workers.
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If job cuts in the auto industry continue and we start to see consistently high job-cut numbers from the top three job cutters in July, it should set off some relatively loud alarm bells about the state of the job market and economy.
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The job-cut numbers in 2001 far exceeded anything we ever could have anticipated back in January.
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The July numbers are still double what we saw in the period of economic expansion, ... They're the lowest in some time, but they're not good by any means.
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What's new is that these relationships between men and women are less fraught with risk.
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We are at a peak period of employment. Companies can't afford to lose people.
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We're seeing the dismantling of the retirement age of 65.
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There is no question about it. More people today are striking out on their own, either involuntarily or voluntarily.
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There are thousands of co-heads, chiefs and directors now. You don't know if they are top people or are buried in middle management somewhere.
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There is a lot of extra fiscal stimulus moving into the economy from the storm relief.