Volvo AB to lay off 1,000 individuals, with 100 of them expected here stateside in Maryland. As we saw the auto sales figures dive and big ticket items come under discretionary HELOCopter spending scruity, these type of job cuts are to be expected and expect them to be ongoing.
It is these cuts that will cause consumers to feed the vicious cycle of not purchasing products and causing mroe layoffs by those that produce products. This will be hitting all sectors and price points. Obviously, large ticket items are the first wave, but the layoff repurcussions and tightened spending that occurs in recessions will hit everything from the big ticket items tot he flower shop on the corner strip mall.
Related:
Automobile demand meet the cliffs of the Grand Canyon
Car Parts Falling Apart!
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