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Wednesday, February 16, 2011

Corporate America Fat & Happy, Doing More with Less Workers

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Corporate America Fat & Happy, Doing More with Less Workers

By Jane Genova

Corporate America earned record profits. Last quarter, reports The New York Times, those profits totaled $1.659 trillion, when tallied on an annual basis. Those are the highest profits in 60 years.

And the economy grew at 2.5 percent.

A lot of that money and economic growth is coming from the corporate mandate to do more with less -- yeah, less manpower.

Despite all the signs the great recession is over and the recovery is picking up steam, not enough companies are hiring. The party line on that is, "As yet, there simply isn't enough growth as well as confidence in the strength of any upturn for widespread hiring."

But, not many workers are likely to buy into that. For that reason, more and more aren't waiting around for a burst in hiring, and instead are creating their own jobs.

Filed under: Employment News & Trends
Tags: corporate america, economic recovery, recession
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