There’s been a hostile takeover at the RNC. And as in all such takeovers the first order of business is to lay off as many workers as possible. In this case, about 60 workers so far.In the business world, the new owner initiating a hostile takeover makes the purchase with wads of borrowed money and then places that debt on the purchased company. To service that debt, costs must be cut, usually through mass layoffs.
The RNC layoff victims now join the 30 million Americans who have also lost their jobs over the past three decades. No one is immune from the mass layoff plague, except maybe the chieftains of Wall Street, who seem to hold onto their jobs even when they gamble and crash the entire economy.While blue-collar industrial workers have been the most numerous layoff victims, today even the booming high-tech industry is chopping away at jobs despite record earnings and valuations.
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