Blogs > Cliopatria > QUOTE VADIS US JOB MARKET?

May 31, 2009 1:04 pm


Meet the Press:

MR. GREGORY: What about the jobs picture? Are you, are you going to rehire? Has the stimulus allowed you to rehire? You got in this flap with President Obama a little bit about he said you'd be able to rehire.

MR. OWENS(Xeorx CEO): Yeah, well.

MR. GREGORY: You said not so fast.

MR. OWENS: Well, a little timing issue here. Essentially, I mean, we've had to--you know, our demand for our products has dropped. We sold $51 billion worth of products globally last year, demand this year's going to be in the mid 30s. So a, a, a very large drop in demand for our products, therefore employment. So we have had to continue reducing employment, and I'd say we will probably not be able--in a position to rehire until mid next year as we see these markets begin to recover.

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