Word: layoffs
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...corporate America would never consider cutting the salaries of many to avoid cutting the jobs of a few. But these days, a wide range of businesses, from San Francisco ad agencies and high-tech outfits like Agilent to steelmakers in Pittsburgh, are breaking the taboo. "We did a 7% layoff that probably would have been 15% had we not done some creative things," says Charles Morgan, 58, CEO of the database-management firm Acxiom, of Conway, Ark. In April the company made a 5% reduction in salaries for people earning more than $25,000, then gave stock options...
...captain Jane Park, among the team’s top returning scoring threats, have yet to play this year. A horrific shutout at the hands of New Hampshire, marked by a nightmarish string of missed open nets and wasted many-on-ones, was followed by a 11-day layoff due to last week’s tragedies in New York...
There’s no reason to get too worked up about yesterday’s defeat. It was a non-conference game. It was a Wednesday afternoon game following a several-day layoff. Harvard’s 1-2 start thus far, beating Vermont, and losing to UConn and New Hampshire, is on par with last season. Beating UConn was not the primary goal of the Crimson’s season...
...They may not be needed back. United Airlines told CNN Tuesday that it plans to cut at least 20,000 employees, or 20 percent of its workforce, joining the announced-layoff parade at Continental (12,000), U.S. Airways (11,000) and Northwest (to be announced). Midway is already in bankruptcy. Continental, the most debt-ridden of all the majors, is talking about it for October. And many airline-watchers expect United and American to follow suit - not least because a bankruptcy filing would protect them from getting sued by victims? families...
...panic either. The losses stabilized by late morning and actually bounced a bit off their lows before slipping again in later afternoon and then bouncing again. The final tally: The Dow down 677 points, the NASDAQ down 115 - and it did seem as if the involuntary four-day layoff didn't hurt. The machinery worked, the connections connected, volume hit a record on the NYSE and it still wasn?t anything the hastily reconstructed infrastructure couldn?t handle. A promised halt to trading if the Dow dropped 1000 points did not materialize...