Who Hired All the People Getting Laid Off?

Via TIME.com …

Some of the companies that need to let people go have lost such a large portion of their sales that they have virtually no choice but to cut staff. That certainly holds true for GM (GM) and United Airlines (UAUA).

There are a number of firms which are looking at 2009 and making prophylactic layoffs. They reasonably assume that their business prospects will get worse, but, in some cases not much worse.

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