Union Pacific has disclosed the economic impact on their staff. They hit upon a point made here often that the staff reductions are not the only economic impact to employees. They noted that 1,500 people have been affected by the economy in layoffs and reduction in hours. I wonder how many of those are overtime hours that carry extra incentive to the employee?
As we know, we are not in a need of shipping stuff over the seas, through a quick look at the BDI. If almost nothing arrives at the port, then almost nothing gets triaged into DHL or UP vessels. Really makes sense, in light of the fact that the clownsumer does not have the same purchasing power to perform shelf clearing manias fueled by irresponsible borrowing and irresponsible lending. How else wil these clownsumers buy the latest Sunbeam Toaster and pay for it over 30 years on an option ARM loan?
Union Pacific is headquartered in Omaha, NE.
Related:
Hark The Herald Sings: Omaha World-Herald to Cut Jobs
Returned to Sender: Your Job and Paycheck
Your (Last) Check's in the Mail
Speaking of Shipping
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