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Signs of deflation and start of depression - Dell plans to cut 10% of its work force, its first layoffs since 2001
Fred Day
Jun. 1, 2007
The cyclical boom with secular long-term economic weakness may have ended abruptly. The technology companies are reporting horrible prospects for 2008-2009. If their predictions are correct the economy will contract more than 3% or more driven by deflation.
Another confirmation came from Dell. Dell plans to cut 10% of its work force, its first layoffs since 2001. The PC maker also reported flat earnings and 2.8% sales growth.
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