Here is an attempt to impart a perspective on job losses that you hear in the news.
Last week, our VP announced that there would be layoffs this week at our chip manufacturing plant [Class 10 clean room facility]. This is in addition to a 20% RIF last September.
So, today is the last day before a reduction in force comes into effect tomorrow. In the least, its a tough time. For coworkers who have families, mortgages and those who have looked upon their careers as a long time commitment, its a hard day today. It seems everyone is saying bye to everyone else.
If this situation does not abate, many of us who'll be entering graduate school will face a tough world - a world where US might not be the dominant force anymore.