A New Kind of Layoff Insurance

Do you have the savings to weather months without a job? If not, here's how to use your home as a lifeline

Though the recession's bloodletting diminished last month, to about 180,000 layoffs--down 25% from the record set in September--it continues to make news. Last week American Express announced it was shedding more than 5,500 employees--on top of the 7,700 it cut earlier in the year. Similar dire notices came last week in industries as diverse as health insurance (Aetna), semiconductors (Applied Materials) and automotive products (Delphi). Fear of job loss is spreading among workers in retailing, which is expected to downsize sharply in 2002. Even the booming health-care sector isn't safe if the recession continues into the second half of next year,...

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