One job is being lost every 10 seconds in the world

Prepare for a horrendous piece of information. Globally, companies are laying off at least one employee every 10 seconds to cut costs and fight the economic crisis. So far in December, companies across diverse sectors have announced at least 115,000 job-cuts, a figure which translates into an average of more than 8,200 people being laid off a day or about six every one minute. More than 30,000 jobs were lost in the first week of December itself. But in the following seven days, the number nearly trebled to touch about 85,000, with the U.S. being accountable for more than one-third of the layoffs. The country has already seen a shocking 5,33,000 job losses in November alone.
I think that shortsightedness in management has created the problem, Job cuts and layoffs are yet another reaction of such shortsighted managements in these orgnizations! Lesser jobs will mean lesser incomes leading to lesser expenditures leading to lesser market demand, resulting in widening losses and yet widening crises. This was on a macro scale, on micro scale...a good management is always characterized by long sighted vision for future....the crises was born because management of various such affected organizations went on to make quick money and indulged themselves in the subprime fraud and now later repenting...these job cuts are short cut quick recovery trick with long & wide negative impact on themselves. Instead of this approach, organizations must take on task of innovating whatever they do, find out innovative solutions to curtail costs, delivering more value to customers, curtail the inefficiencies in the organizations and build on quality...such endeavours are going to pay off and will ensure sustenance not job cuts.