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Quote of the week: Replacing expensive employees

April 01 2013

“Bit by bit, every corporation, just about, is firing expensive employees and hiring cheaper temp employees,” said James Altucher, managing director of asset management firm Formula Capital and board member of Corporate Resource Services Inc. (OTCBB: CRRS). Altucher made the quote in a video interview with Yahoo Finance. To view the video interview, click here.


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D. Tarrant04/01/2013 05:52 pm

Interesting interview. If James Altucher is correct, he should be out of a job soon, if he has one now, that is. Any employee that believes that Altucher id right should wait to be laid off, collect unemployment, and look for work, or start his her own business. The employers who follow this fellow's enlightened view will see their unemployment taxes climb, of course and their is the penalty they pay based on Obama Care. Minor details.

His view of "temping" is different fro what I've heard to date. Let's watch this and see what happens. Interesting view that he gives!

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