All time Corporate Earnings are Bad for job seekers

Today on CNBC Ronald Perelman the founder and CEO of MacAndrews & Forbes Holdings, Inc which owns Revlon, and one of the US military’s best suppliers AM General which makes the Humvee said that with companies making record profits by having cut out employees, they have made investments into new ways to increase productivity.  These activities have permanently cut out the need for employees that have previously lost their jobs.  Watch the video for his explanation.