Contest: We Need a New Word for "Ouch"
45,000 before 9am. I'm glad the good folks at Raw are keeping up with this, in that "OMGWTFBBQ???" sort of way.
Somebody was working this weekend to make sure thousands of other people didn't.
US companies announced they're cutting 45,000 jobs by 9 am Eastern Time on Monday morning, even before the US stock market opened, according to a quick count by Raw Story.
The point is: this isn't going to stop. Layoffs lead to layoffs lead to more layoffs, until it's a Depression "for real." I live in MI, and we've been experiencing the truth of this for years now. There is no magic moment in which it all suddenly gets better, so long as policymakers continue to sit on their hands, or pass another round of meaningless tax cuts that lead to exactly no job creation.
So, what's your favorite snarky one-word response to news like this? "Ouch" just isn't enough anymore.