There has been a steady drumbeat of bad news on the job front in Europe. Just
last month, the Swiss engineering firm ABB announced 12,000 layoffs, 8% of the
company's workforce. Infineon, Europe's second-largest chipmaker, said it is
downsizing 5,000 workers because of a slowdown in the electronics sector. Ericsson,
Sweden's big telecom equipment provider, said it would stop making mobile phones
a decision that will put 2,600 out of work in southern Sweden. In fact,...
