Earlier this month we thought it was bad that there were 10,000 jobs lost in October in Sao Paulo. Then we found out that there were 70,000 jobs lost in the month of November in Canada. When you consider that there are 41 million people in Sao Paulo state and just 33 million in Canada, well....
Canada is now officially in a recession. The Bank of Canada cut interest rates by three quarters of a percentage point which was more than what was expected. The article also credited the political upheaval in Canada last week with dragging investor sentiments.
Recent depressing headlines:
- 850 jobs lost at Magna
- Chrysler Canada's Windsor mini-van plant to shut down for 6 weeks over Christmas
- 700 workers at an Oshawa based GM plant face temporary layoffs
- Bombardier Recreational Products Inc. cuts production by 20% and will it eliminate 550 white-collar jobs, 430 blue-collar employees have been given temporary layoff notices in the current quarter, after already laying off 370 blue-collar workers last quarter.
We are definetly in a tough environment these days... things here are equally terrible. Work has been very stressful...being manager in times like these is no good. I worry about money, how to pay vendors, employees, etc! I hate it!
Posted by: Stephanie | December 10, 2008 at 04:05 PM
Stressful I am sure!
Posted by: Daily Rio Life | December 11, 2008 at 09:39 PM