The simple math of layoffs - Manager Southern California Edison Employee Review

Shrinking benefits and an executive team that's a corrupt group of nobodies. And layoffs are a feature of life there, forever. The math is very simple: since income from rates is steady of even declining, the only way to get earnings growth (the Holy Grail) is to cut costs. Which means lay off people. Every year. That's all it is: our current batch of executives is too incompetent to grow earnings in any other way. In fact, with all their little hobby projects and mini-empires on the Edison International level, all they do is waste money and depress earnings.