Scrooge wears a GM hat

Hard on the heels of its holiday price cuts, General Motors today announced plans to close some of its plants, laying off thousands of workers at the end of the year.

It’s a mystery to me why companies choose to fire employees at the end of the year. With year-end and holiday expenses, it is for many the worst possible time to lose a job.

Wouldn’t it be more logical for companies to cut personnel at the end of the fiscal year, June 30, rather than at the end of the calendar year? Certainly it would be easier on the employees who lose their jobs, as well as a better time of year to relocate, should that be necessary.

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