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News > Economy
Are layoffs a good strategy?
July 5, 2001: 8:30 p.m. ET

Job cuts are effective at cutting costs, but long-term value is usually negative
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NEW YORK (CNNfn) - New claims for state unemployment insurance rose last week, the government said on Thursday, while the number of Americans remaining on the unemployment rolls topped 3 million for the first time in more than 8 years.

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But what is the track record of job cuts as a corporate strategy? CNNfn's Peter Viles takes a closer look. graphic

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Job-cut announcements by U.S. companies soar in June - Jul. 5, 2001




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