Gist: There is still looking good on earning numbers. However, it is not quite the sales do the jobs but the layoff helps the expense saved on personnel.
Many big companies now is cutting their expense and hoarding the cash in case of the rainy day. Personnel are usually the primary target that can save a lot of money when there is no sales number rising up. Nobody wants to spend money so that the demand in the market is falling. When there are no demands for companies’ products, there are no jobs for people to make those products. People do not get paid so they will not be willing to spend money on anything. This cycle then will keep running over and over until the recovery arrived.
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