That Means I'm Fired?

The U.S. unemployment rate has jumped to 4.9%. Also on the rise are the euphemisms being used by companies to describe layoffs:

TELEGLOBE "Today announced plans to revector portions of its business." Translation: 450 jobs lost

CISCO "The reduction in workforce will include...involuntary attrition and the consolidation of some positions." Translation: 3,000 to 5,000 jobs lost

SCHWAB "Announced today plans to implement further restructuring to reduce operating expenses." Translation: 2,000 to 2,400 jobs lost

LUCENT "Expects to reduce its net headcount...through a combination of force management actions and attrition." Translation: 10,000 jobs lost


Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!