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Time Warner Inc.
Wall Street talks, companies respond -- by axing thousands of jobs
Wall Street talks, companies respond -- by axing thousands of jobs

Today's Times business page has a grim cast to it, related to reports of thousands of layoffs provoked not by a bad business climate but by Wall Street investors dissatisfied with their income.  If you're looking for a mockery of the image of wealthy investors as "job creators," you need go no further than Wednesday's reports of workforce cuts at the biotech company Amgen (1,100 jobs, on top of about 2,900 announced earlier) and Time Warner's HBO unit (150, as part of the parent company's campaign to shed 2,600 employees). The carnage will come to about 20% of the workforce at Amgen and 10% at Time Warner. If economic conditions were tough, it...

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