Downsizing: Out One Door And In Another

Thanks to greater mobility, corporate job-cutting isn't as lethal as it looks

The news seems unrelentingly grim. Last year, U.S. corporations announced plans to eliminate 440,000 jobs. That brings the number of jobs cut since the start of the decade to 2.9 million, according to Chicago outplacement firm Challenger Gray & Christmas Inc. And 1996 hasn't gotten off to any more promising a start: On Jan. 2, AT&T said it will cut 40,000 jobs. Six days later, Lockheed Martin Corp. and Loral Corp. announced a merger that defense analysts predict could result in several thousand layoffs.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.