Add Another 17,200 To The Unemployment Rolls

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A classic evening for the new American economy.

First, we got four companies reporting strong earnings thanks to cost measures, currency effects, and global growth.

The market loves it.

And at the same time, we’re also getting confirmation of big-time layoff news.

Borders will officially sell and liquidate, eliminating 10,700 jobs.

And Cisco officially detailed its previously announced layoff plans, saying it will cut 6500 jobs.

17,200 jobs gone.

For more on what happened today, see here.

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