Bosses get richer, workers poorer. ho-hum.

[Margaret]

"NEW YORK (Reuters) - Merger-related layoffs soared in
1998 to nearly double the level of 1997, reflecting a
slew of high-priced mergers and acquisitions, the
outplacement firm Challenger, Gray & Christmas reported
on Monday.  Job cuts resulting from mergers totaled
73,903 in 1998, up 99.6 percent from the 1997 total of
37,033, the international outplacement firm said.
The annual merger-cut figure was the highest since
1995, the first year the firm began tracking such data.
Merger-related cuts comprised 11 percent of the total
677,795 job cuts announced last year, Challenger said. 
While the number of mergers remained relatively
moderate in 1998, the high price tags of many of the
mergers that did take place forced companies to make
big staff cuts in order to cut costs, the report said.
The number of mergers in 1998 totaled 11,630, just 4
percent higher than the prior year's total.  But the
value of last year's mergers and acquisitions
jumped 80 percent to $1.6 trillion from $907.5 billion
worth of deals announced in 1997. Nine of the 10
highest-priced mergers and acquisitions in U.S. history

 occurred in 1998, Challenger said."

Note that the mergers 'forced' companies to get rid of
people.   No responsibility there, just the inevitable
result of physical law at work.