As businesses across the country file for bankruptcy protection, their economic problems trickle down to their employees, the local economy, and in some cases even the national economy.
Business bankruptcies may mean mass layoffs, pay cuts, or reduced hours. In addition, the company in bankruptcy is likely to reduce or eliminate services and materials previously purchased from outside companies, creating a chain reaction that may force those other companies to reduce staff.
This entry was posted on Wednesday, October 25th, 2006 at 6:21 pm and is filed under Bankruptcy and the Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.