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Companies are talking about turning 'furloughs' into permanent layoffs

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These permanent cost cutting initiatives are only going to widen the disconnect between Wall Street and Main Street

A worker wearing a protective mask adjusts a torque wrench inside the service area at a Harley-Davidson dealership in Oakland, California, on Thursday, July 16, 2020.The dark side of good earnings: Companies are talking about turning "furloughs" into permanent layoffs.

The average company beat analyst estimates by 22% — way above the historic norm of a 3% beat. But top-line revenue beat by only 1%.

 

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BobPisani Shocking

BobPisani This is all coming in the UK and Europe as well. Companies have only kept people on to qualify for gov stimulus schemes and when they go away, so will many of the jobs.

BobPisani Didn't see that coming.

BobPisani Well duh.

BobPisani It’s what they planned all along. Let no crisis go unused.

Dang- can’t wait for the next nationwide riot

Shocker. They planned this all along.

Trump was warned not to rush to reopen the economy and now we have to pay the price. Who in their right mind would give this incompetent administration four more years?

... Are capitalists just trying for a poor, angry, and starving populace?

So corporation take money from the tax payer that was designed to protect the worker and they fire the employee and take the money and run. Sounds like a Trump tactic.

Reopen. Refund and support the police. You’ve got time to protest than you have time to go to school.

Better vote RED moving forward folks.

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