|
|
Article: Companies are quick to slice their workforce
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- November 26, 2008
- Author:
CopyrightCopyright 2008 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
|
A growing number of jittery companies are slashing jobs not
because business has slowed, but because they are afraid it will, a
trend some economists warn could intensify the downturn.
Philips Healthcare had welcome news for investors last month when
it posted its third-quarter financial report: Sales were up 5
percent, and profit 4.8 percent. So employees were taken by surprise
last week when the Andover company, which makes defibrillators,
electrocardiogram monitors, and other medical gear, disclosed it was
slicing 5 percent of its global workforce, cutting 1,600 jobs
worldwide, including fewer than 100 in Massachusetts.
"Companies in all industries are under pressure in the current ...