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Originally Posted by OneHungLo
So record stock profits are from cutting jobs? Are you even serious? What companies are booking massive profits by cutting jobs? list them.
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No company set out on a mission to create jobs... jobs are contrary to profits.
Well, just take a look at 'revenue growth' and see if it is in line with 'profit growth'.
While some do have real revenue growth, not all of the profits were created from that. Cuts, cuts and more cuts. I call it the syndrome of greed... More, More, More !
And most of the job cuts are the result of merger and acquisition of years ago finally taking hold.
In my zip code alone, with a 4% growth rate, now employs 8% less than they did just 3 years ago. without loosing one biz.
Many of those lower end scale jobs... fast food and the like, they have few full time employee's and the ones that are, were made management so they can work them overtime without paying overtime wages. The lost jobs were the part time jobs.
Go into a Wall-Mart and go to the Wood Forest Bank that Wall-Mart owns controlling interest in and find just one person who is not management. And then ask how many hours they work. Mine has 11 assistant managers working 55 hours a week and one manager.
Nobody gets overtime pay. If they were to return to a 40 hour week, they would need 3 more folks to cover the same man-hours.
What's that do for your bottom line.
Most, probably will not care about such things, until they will be forced to do the same.
Oh... I know... That won't happen to me... LOL
But if all my competitors do it, I will be forced to also.
That is similar to what started the race to make it in China.
So yes, jobs are contrary to profits and no company has a mission to create jobs.