WORLD NEWS "JOB CUTTS" 14yr HIGH

The US jobless rate rose to 6.5% in October, official figures have shown, the highest rate since March 1994.
Figures from the US Labor Department showed US employers cut 240,000 jobs in October, the 10th month in a row that the economy has lost jobs.
The increase means that in the first 10 months of this year, 1.2 million people in the US have lost their jobs.
Some economists predict the jobless rate could climb to 8%, or possibly higher, next year.

Read more:http://news.bbc.co.uk/1/hi/business/7715873.stm

As a business man myself job cutts occur only when the CEO isnt making his salary... this is the cut and dry version