Wednesday, December 31, 2008

Companies force workers to take unpaid vacation

NEW YORK (AP) -- Here's the vacation no one wants, courtesy of the recession: Forced time off without pay. Financially struggling universities, factories and even hospitals are requiring employees to take unpaid "furloughs" -- temporary layoffs that amount to one-time pay cuts for workers and a cost savings for employers. This year, the number of temporarily laid off workers hit a 17-year high.

For factory workers, unpaid time is coming in the form of extended shutdowns as manufacturers try to reduce inventory of everything from aluminum to newsprint to fertilizer.

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