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Layoffs Not An Option For Some Businesses Amid Recession
Revenues fall and costs rise, yet many firms avoid layoffs to preserve talent for a rebound. Costco freezes hiring and trims hours. Marvin Windows and Doors keeps 5,300 workers despite weak sales, while other actions include pay freezes and 401k suspensions. ITT plans selective cuts, citing retention of engineers. Manufacturing loses 161,000 jobs in March and 1.5 million overall.
MENTIONED IN THIS ARTICLE
Washington
Sean Snaith
University of Central Florida
Costco Wholesale Corp
Bob Nelson
Costco
Nelson
Wynn Resorts
Equifax Inc
U.S
Challenger, Gray & Christmas
John Challenger
Marvin Windows and Doors
Minnesota
Susan Marvin
David Peterson
Peterson
Terry Connelly
Golden Gate University
Agena School of Business
San Francisco
Connelly
ITT Corp
Andy Hilton