Catherwood LibraryILR School

In an attempt to forestall layoffs, many companies have been engaging in such cost cutting practices as eliminating indoor plants, cutting back on light bulbs, and discontinuing employee discounts at vending machines. Despite this nickel and dime-ing, as the economy continues to slow down companies are already beginning to reduce their workforces. Even if the economy picks up again before the end of the year unemployment will likely continue to rise, as employers are usually hesitant to rehire quickly after economic down-turns end.