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Following years of rapid increase in demand for computers and computer skills in the 1980s, there were large- scale layoffs late in the decade.
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* 160 layoffs latest symptom of cash crunch.
But American Express officials said that after making a round of layoffs late last year, there would be enough space in Lower Manhattan to accommodate all of its local employees.
The company has just 35 employees, he says, after 40% layoffs late last year.
"Paying retention bonuses in the face of unlawfully terminating women who were making money for the company and were highly qualified is completely outrageous," says Douglas Wigdor, a New York attorney who is representing five women suing Citi over their layoffs late last year.
They are your neighbors and friends who are forgoing a paycheck and lending money to their businesses, agonizing over layoffs, working late into the night, negotiating with creditors and virtually killing themselves to stay afloat.
While previous exoduses by investors from volatile emerging markets have caused waves of bank failures, corporate bankruptcies and mass layoffs, the latest retrenchment has been much milder so far.
In recent years, there have been a series of budget cuts and layoffs, the latest of which came in January, when the firm said it would dispense with five hundred of its eight thousand remaining workers.
The balance between readiness and rust may be most critical for Manning, and he insists that a layoff this late in the season does nothing but keep his arm fresh.
Perhaps that's partly because, in real life, layoffs often occur late in the year for accounting reasons.
Morgan Stanley's latest layoffs reflect an industrywide trend.
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