No one needs to remind us of the perils facing the US economy. Every week there is another company that has laid off employees. We’ve heard a lot from the Publishing sector, a bit from the tech industry, and the Auto industry. We did hear of cuts from Saks and Neiman Marcus last month, not to mention Chanel cutting 200 employees from their Paris office.
Well, the announcement came today from The Wall Street Journal. Coach Inc, the leather-goods retailer, is cutting 10% or 150 employees from their US corporate staff.
Who is going to be next?!
I understand that this is happening in terms of the housing market fiasco and it’s trickling slowly down into every industry, but it’s getting a bit scary. Maybe this is meant to happen for our society to develop a new attitude in terms of how we live our life. Although, it’s one thing to make those kinds of changes on your own, it’s another when it’s forced upon you. It will be interesting to see how the rest of this year holds up.
