Layoffs at AMEX - Is AMX Stock Real Reason

American Express became the latest major American firm to announce major layoffs.

Are these layoffs needed? The customers of AMEX are wealthy americans. Therefore either the wealthy are not paying bills because they cannot or do not want, or that AMEX is taking the current economic gloom as a cover to throw some average joes to the street.

They would tell you it is triggered by the worst economic crisis in seven decades!

Plans is to slash 7,000 employees.

The name of the game is to use the economic storms as a cover to cut all undesirable Joes and to hail the master of the world: the AMX stock price! The latter should always rise, even if thousands were to be sacrificed.

7 comments

  1. Anonymous  

    October 30, 2008 at 2:35 PM

    Your blog spam sucks. Give it up.

  2. Anonymous  

    October 31, 2008 at 2:05 AM

    Don't worry about them. There are plenty of safety nets in place. They will all get a severance. Can you imagine getting paid for months to do nothing? When the small company I worked for in 1989 went under, the CEO came in and told us that there is nothing left in the bank - in other words we had just worked the last two weeks for free! When the severance runs out, then unemployment insurance will kick in. Plenty of time for them to find out what the growth industries are and retrain.

  3. Anonymous  

    October 31, 2008 at 4:29 PM

    7,000 in Q4... potentially the same number again in Q1....

  4. Anonymous  

    November 1, 2008 at 2:01 AM

    1. the 1989 small company story is really funny! Thanks for the laugh . Did the CEO say how much was his severance package?

    2. the last comment on list: do you mean that 7000 is just the beginning?

  5. Anonymous  

    November 1, 2008 at 5:44 AM

    The 1989 story concerns a 10 person company in a crowded office. It is hard to keep secrets under such conditions. Everyone knew that the third round of financing would be the last because the investor made quite a show shouting, "NOT ONE MORE DIME AFTER THIS." I am quite sure that there was no golden parachute for the CEO. In fact, I believed he worked for free for several months longer than the rest of us in order to keep hope alive for as long as possible. But we all survived, moved on, and learned from the experience.

  6. Anonymous  

    November 2, 2008 at 12:07 PM

    Yes, 7,000 is just the start - I would fully expect that number to have doubled by this time in 09.

  7. LogicGirl  

    November 2, 2008 at 9:51 PM

    I agree. Companies will take the opportunity to cut down on staff, and then overwork their existing staff.

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