USG Corp, a maker of building materials that are used in construction of residential and commercial real estate and otherwise has no one to sell to for the considerable future, has decided to reduce expenses by layoff of 900 employees.
This can not bode well for the shopping season, which will in turn cause less commercial buildings to be built or remodelled and feed into their luscious cycle. Let's hope they were prudent in spending while the easy money was rolling in.
Back to the employees, this area has been hit with a lot of layoffs, but these are what are called white collar jobs. Those are the types of jobs that will be difficult to replace in this economic client. Poor guys are going to have to let scrooge and the grinch DVD go on rerun to condition their spawn about the harsh realities of the business cycle. I'll bet they were glad to hear the idiot Paulson and Bernanke claiming subprime is contained and not expected to ravage the whole global economic system.
USG Corp is headquarteed in Chicago, IL.
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