Your point is quite valid, that there is a huge difference in scale with these 2 layoffs. But the math isn't quite right.
If your figures are correct about the total # of employees, then the Cat layoff of 20,000 jobs out of 175,000 employees is 11.4% reduction of staff, not 17%.
Bottom line is that this is still a huge problem for 20,000 families, 20,000 mortgages, 20,000 health care family needs, and on and on. Headline in the Mpls Star-Trib this morning announced 55,000 jobs lost JUST YESTERDAY by big companies. That will be multiplied many times by the losses in smaller job shops, suppliers of raw materials the big companies used to produce product, independent contractors who supported the needs of the big companies, and by the merchants on main street who sold the goods and services to the now huge number of unemployed people. But, of course the people affected still have needs for housing, heating, food, medical care, etc.
We are in for big time hurt. Dayum, I shudda turned off the TV news last year, and cancelled the newspaper, and went to my optician to buy a pair of rose colored bifocals. Then all these people would still be working and there would be no pain. And 3 SILs and 1 BIL would all have their jobs back. Ya shure!!
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