Chanel laying off hundreds of people
December 29, 2008
Chanel, one of the most high end French fashion names, is to lay off 200 Paris based staff. When global brands like Chanel are firing people right and left whereas at the same time Five and Dime stores are doing the same, it states that clear across the board people are feeling the effects of the depression.
We are seeing instances of people that were millionaires 6 months ago now unemployed and can’t meet their mortgage payments.
We can't take care of our own
And it’s hard to believe that all this started by people buying houses and banks lending to those same people that couldn’t afford that house in the first place.
It’s ugly out there, and it will get worse.
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