LostCat, what I’m saying is from an employee and even business standpoint, the difference between laying off 1/3rd or 1/2 the workforce and closing the doors is largely a technicality.
They are arguing that they aren’t closing.
You are pointing out that they aren’t making money and going to be laying off virtually everybody.
So in the end, if they layoff 10% of the staff, that’s minor correction, call it a ‘soft-landing’. If they layoff a 1/4, 1/3 or more that isn’t trimming, that’s bare survival. In effect, the entity that was WMC during the boom is dead.
