Today I spoke with a friend from a company where I worked many years. This company is an automotive parts supplier and is hard hit by the current economical recession and lack of automotive sales.
At one time there was over 1,400 associates working at a main site and two smaller remote facilities. Now the remote facilities are closed and the total associate count is less then one-third of its previous high.
Layoffs, demotions, reorganization, decreased benefits and overall pay cuts have been a part of management efforts for company survival.
Even if the recession ended tomorrow and car sales resumed at a pre-recession level many of those things lost may never return.
As there is a consumer level of confidence there is also a corporate level of confidence and many companies who have suffered in this recession will be slow and cautious about rolling back employee concessions–be it pay, benefits, or employee count.
IMHO: Businesses who survive may well exit this recession with increased profits and vitality, but it will be a long and slow recovery for those who sacrificed the most to make survival possible–the associates/employees.
I know this post is off my normal topic of photography and technology but I think it’s important to keep the real victims of this recession in mind.
A fine picture to support and accompany your remarks. I agree with what you say totally. The average people are the ones lining up for unemployment and wondering how they are going to make ends meet. These are very tough times…and may well get worse before it gets better.