Business: The Vulnerable Managers

Recession's first victims are always at the lower end of the labor pyramid: the blue-collar worker, office staff and sales help. But the current slump is painfully hitting corporate managers and administrators, who in the past were relatively immune from layoffs. In January unemployment among managers hit the highest point in more than 15 years. Two typical examples:

> Until last November, Ed Bogota, 30, was earning more than $25,000 a year as trust investment manager in the Manhattan office of the Corning Glass Works. Abruptly, his job was abolished. "I got caught in cost cutting," he explains. BOgota is willing now...

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