Monday, May 26, 2014

The Horrible Obama Economy Continues

From Omaha (NE)Online: Hewlett-Packard Co. said Thursday that it aims to cut another 11,000 to 16,000 jobs by October, bringing the total number of planned layoffs to a maximum of 50,000 and nearly doubling the largest payroll reduction ever for the 75-year-old technology giant.
HP's move revises upward a previous target of 34,000 job cuts. In May 2012, eight months after former eBay Inc. CEO Meg Whitman took the reins, HP unveiled the chief executive's initial restructuring plan, which called for a headcount reduction of 27,000.
When the program was first announced, the company had nearly 350,000 employees. As of October, it had 317,500.
Each week, there are 300,000+ new applicants for unemployment insurnce.
That's like filling Lambeau Field in Green Bay, WI about 4-5 times with newly unemployed.
Another Obama legacy- high unemployment.

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