What's the Real Deal?

Layoffs Spread to More Sectors of the Economy

Job losses mount as downturn steepens

I know the economy is in trouble but is all this panic by large corporations and all these layoffs really necessary? I know a few companies are opting for employee pay cuts instead. Isn't that better than helping to worsen the economy by having more people out of work?

Call me cynical; I can't help but wonder if there are those who are taking advantage of the opportunity to let people go in order to safeguard their own inflated salaries. But that's just me!