Survey: LoT Unemployment Rate

[Ghoulish Delight]

Originally Posted by scaeagles

Survived a lay off today. Even though my company was profitable last year they had a round. This was presented to us as being prudent, and while I suppose I can appreciate that, the 10 people or so in my local office and satillite offices that were let go must not be feeling too good right now (4 in my department).

Our company made profits of over $90 million in every quarter for the past 5 years or so, over $100 million in several. We have millions of dollars of cash in reserve. But because we're making slightly LESS than that in recent quarters, we've had a round of layoffs and have implemented some semi-drastic cost cutting measures to prevent more.