Most big firms seen cutting staffs in early '10

<snip> More of America's largest companies will shrink their staffs than will hire in the next six months, according to the latest survey of their CEOs.

Nineteen percent of the CEOs expect to expand their work forces, while 31 percent predict a decrease in the next six months, according to a quarterly survey from the Business Roundtable released Tuesday. That's slightly better than the 13 percent who expected increased hiring three months earlier. At that time, 40 percent forecast cuts.

The CEOs also expect the overall U.S. economy to grow by 1.9 percent in 2010. That would mark a slowdown from the 2.8 percent pace in the third quarter of 2009. Last quarter's growth followed a record four straight quarterly declines and was the strongest signal that a recovery from the recession had started.

"These forecasts are in line with an anticipated slow and uneven recovery," said Ivan Seidenberg, CEO of Verizon Communications and chairman of the Roundtable. Sales and capital spending already are beginning to rise, but "it still will take some time for these gains to translate into more jobs and higher employment," he said.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/12/09/BU4C1B10OO.DTL&type=realestate#ixzz0ZabO0tQU

Best euphemism yet for "deepening depression."

I heard him! Now why wouldn't we believe him?

it will be at least 2014 before the JOB Situation begins
to turn around. And when this does begin to turn around
we are dreaming if we think our economy is to be anything
like it was before the fall.