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[–] Jacknasty 0 points 1 point (+1|-0) ago 

The banks around here have parking lots full repossessed cars and trucks. Multiple homes have foreclosure notices taped to the front door.

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[–] 1443578? ago 

I'm normally a free market kinda guy but, With the amount of profits they make I think they could float some unneeded employees for a wile. Chalk this up to shameful business practice.

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[–] bpg131313 [S] ago 

The way I see it, they could keep the people and say that they are investing in the business, and write it all off anyway. If they really wanted to keep them, they could. They are dumping personnel either because they see things worsening down the line, or they are spiteful. For all I know, it might be both.

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[–] 1450473? ago 

My first thought was that it was to appease stockholders. Its always good for the bottom line when less people do the same work.

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[–] Jacknasty ago  (edited ago)

I went from 130k a year to unemployment. Now I'm taking a job that I will maybe make 55-60k. I am lucky I have different job skills, considering I have no degree. For all the people wanting lower fuel prices and low oil prices, it eventually ruins the rest of economy due to massive job cut. Jobs have been getting cut since January.

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[–] bpg131313 [S] ago 

I'm not one of those people complaining about falling oil prices. The folks who earn a living getting the oil out of the ground and refining it are feeling it by way of pink slips. Notice at the bottom of the article that Halliburton is cutting 9,000 jobs, Schlumberger cut about 20,000 jobs, and Baker Hughes cut 10,500 jobs. That's going to take a bite out of their local economies. BP is also talking about more layoffs.

Is this just proof that we exist within a zero-sum-game where someone can't win unless someone else loses?