Unemployment line

Big companies aren’t the source of job stability like they were when our parents were growing up. It seems every few weeks another company announces layoffs. One of the worst is the U.S. automobile industry. Reuters reports, “DaimlerChrysler could lay off up to 16 percent of the workers in its North American truck operations next year due to an expected downturn in demand.” The auto industry is in the middle of deep structural change resulting from global competition as well as changing demand from higher gas prices and promises to labor companies can no longer afford to keep.

Restructuring isn’t only for the auto industry. DuPont announced they’ll cut 1500 jobs. The savings will go into the seed division where it’s fighting Monsanto. Who knew there’s more to the company than “Better Living Through Chemistry” and sponsoring Jeff Gordon’s race car.

Read (DaimlerChrysler)

Read (DuPont)