With Obama Reelected, Will There Be Mass Layoffs?

Obama layoffs
Obama layoffs



In the lead-up to this election, several CEOs sent email blasts to their staff, urging them to vote for Mitt Romney or brace for a bloodbath of layoffs. But with Barack Obama now president for another four years, will these employers or others follow through on their warnings? Fox News thinks so, announcing in a headline on their website Friday, "Obama Reelection Triggers Massive Layoffs Across America." But so far that claim seems very unlikely.

The CEOs of Westgate Resorts (pictured above), ASG Software Solutions, uniform-maker Cintas Corp., and paper company Georgia-Pacific all gave slightly different reasons why an Obama victory might threaten their employees' livelihoods, including regulations, taxes, expenses from the new health care law, and the general state of the economy. But all of them agreed that another four years of Obama would slash their profit margin, and that pain would inevitability trickle down to their workers.