Local company makes 1.8 billion in profit yet laying off 50 workers

Hi ronnyb! I do think that if they made 1.8 billion in profit and still will lay off 50 workers, then I don't think that it is justifiable. I am no expert on this but I do think that companies are just trying to save more by reducing labor cost and therefore more profit for them. They will impressed on their workers that it is better to do some laying off and let the remaining workers just absorb the workload of the laid off workers. Reduced labor cost means additional profit for the company. Just a thought! take care and have a great day! lovelots..faith

There are a lot of lay offs happening in our area right now. Some companies even shutting down their 2nd and 3rd shifts saying they are preparing for a drought in the market. In all reality, when you look at cost of goods sold and libility expensese for companies, payroll and the taxes that apply to it is a companies biggest expense. So yeah, when they're cutting emoployees down, they'er putting money back into the company which goes back to the share holders and bonuses for officers. Sad part of big business, they think the workers are expendable.

i don't think big companies give a hoot about their workers. they are just after that dollar. look how they treat people who are getting ready to retire, cut then off bsfore they can draw their pensions or whatever, i think u are juat a number w/ them & they keep their earser around to get rid of you any way they can. u don't have any perks when u are self-employed but u don't have to put up w/a big companies bull either.

WOW! What company is this? We should ban their products. But I am sure I have an idea of what it is. They don't want to cut into the big bosses profits so they have to lay off the little man. During the recession things are going to get greedy and those on top are going to take all they can get.

If they lay off enough people, next year their profit will be $2.8 billion. The word greedy comes to mind immediately!!!

Making profit in the past not necessary mean it will continue doing so in the future. If management project lousy economy ahead, and lack luster demand, they probably will cut work forces into minimum size to maintain certain profit margin or numbers in their operation, it is one of the method big corporation used to lower total costs of doing business.

These companies seem to be forgetting who made them that $1.8 billion. There is no reward for being dedicated to a business these days. You can do your job to the best of your ability and even kiss a little butt every now and then but there is still no guarantee you will have a job come tomorrow. This is crazy and I believe companies are using the recession as an excuse to unload workers they feel they don't need. Geez, why have 10 workers doing a job when you can have 8 workers do the same thing, just working a little longer and a little harder for the same pay? [em]thumbdown[/em ]I believe this is the attitude most companies have now. Who cares about the working man and woman?

I think some does use the crisis as an excuse even if they are not affected. I feel sorry for the workers that put a lot of hard work and loyalty to the company that do not care for them back.

It does make you wonder what is going on,they are laying non performing units off,did they pay these people just to sit and do nothing before,it is an excuse as far as i am concerned getting less people to do more work and make even bigger profits.We heard on the news tonight that Wall Street rewarded themselve with bonus's worth about four billion pounds ,what on earth is going on there,the government has just bailed them out and yet they still live in another world or selfishness and greed.Words fail me the financial institutions caused this terrible recession and they are still taking money from the health service,food out of the mouths of hungry people and they congratulate each other.I don't wish those selfish persons well.I am having to stop with this discussion before I type something that will get me banned for life.xxx

well many companies are facing recession in this time as they do not get funds, now local companies too get projects from some big companies and when they are not in position in providing projects to local companies then it becomes difficult for them also to pay salaries so they lay off jobs and in this way even they can lay of some workers who are not working. well 2009 situation is much more worst then 2008 hope this recession gets over soon and we come back to normal positions

I was wondering the same thing, myself. I think they are making themselves very unpopular as well. I know I won't be buying from them anymore. I'll find another way to do the same things. It's irresponsible and cruel. No, they don't have any social conscience. Nor any conscience at all. I'm beginning to think they're in a similar category as Mr. Blagojevich. (Long may he suffer!!)

I think its just an excuse to just make more money or the media is brainwashing employer and making them think they are going to lose money unless the fire new people.

Hi ronnyb, It's possible that the company has departments that aren't performing due to the changes of the economy. Hopefully, those that lose their positions will get another in the company. However, I really believe that companies don't care about the employees, but the all mighty buck, and their bottom line. It's a dog eat dog world, and when push comes to shove, we the little working bee will be pushed right out of the picture so that the owners/managers or powers that be of these companies can continue to survive.

Actually, just an hour ago, I had this discussion along with my sister. We've got the same opinion. I think some companies are just using this economical crisis as an issue for lessening their expenses and gain more for themselves. Well, keeping pioneer workers are more costly rather than getting new workers. Pioneer workers have financial benefits that they may get from the company. Like for example the retirement pay. The longer an employee works in the company, the more they will pay for their retirement fee. These businessmen are more worried for their income rather than the welfare of their employees.

Ive been listening to CNN a lot lately and they say, with all the newest layoffs happening in the last week, that companies are seemingly panicing about the recession and may be unnecessarily cutting jobs/costs when they dont need to. I do have a feeling that this company you mention is using the recession as an excuse to fill their pockets by cutting jobs. Yeah, thats a solution. Increase the unemployment rate even more, making the economy that much worse just to suit your needs. The heck with everyone else. Its all about you, right? Instead of sharing the wealth and perhaps help the economy, cut jobs. Great idea! Maybe they should run for political office.

I hope the whole world runs after money so the company is eager to make much profit next year so it may take off the workers. Many say that there is economic scarcity around the world but i feel that many companies are upto the mark and performing well.