Job Cuts Continue to Hammer Workers and Communities
Stock Market Cheers Rising Profits
San José, CA – Layoffs continued to hammer workers and their communities in July and August. Job losses are leading to more and more home foreclosures. State and local governments are losing tax revenues and making more cuts to education and social services. At the same time the stock market has been on a tear, as the profits of big businesses have benefited from layoffs, furloughs, wage cuts and benefit cuts.