While voracious consumer spending has helped maintain overall economic strength, companies are still hampered by stiff pricing competition from abroad, ... The inability to raise prices has cut into corporate profits, which, in turn, has most certainly contributed to increased job cutting.
More Quotes from John Challenger:
Many are waiting with bated breath to see if the economy continues to add jobs at the rate it did in March. If it does not, it could be serious blow to consumer and business confidence, thus slowing the momentum of the recovery again.John Challenger
The heavy year-end downsizing does not necessarily indicate a sudden weakening of the economy, ... The fact is, job cutting has become a permanent part of the corporate cost-management mix, as demonstrated by the fact that a strong financial sector still found nearly 100,000 jobs to eliminate.
John Challenger
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.
John Challenger
We're optimistic about the job picture for the next year.
John Challenger
I think companies will spend billions of dollars over the next several years building their e-commerce structures, and these dot.com employees will be leaders in helping them do that,
John Challenger
Especially with all the worries about the war, terrorism and the economy, companies need to find ways to build morale right now, ... The NCAA, and the betting pools in many offices, are a way to bring employees together, to build rapport. These are the kinds of things that allow people to work well together. It's a good expenditure for companies.
John Challenger
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