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Problems within the company itself will also lead to terminations. Smaller companies may have to cut out the entire work force while larger corporations may just cut back on the number of employees in certain fields or areas. Some of these problems cannot be seen in advance, thus leaving countless numbers of people without a job, and more importantly, without a backup plan. A study shows that during January 2003 through December 2005 period, 3.8 million workers were displaced from jobs they had held for at least 3 years. Of those long-tenured workers displaced during the January 2003 through December 2005 period, 49 percent lost or left their jobs due to plant or company closings or moves, 29 percent reported that their position or shift was abolished and 22 percent cited insufficient work as the reason for being displaced (search...
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