Daily Recession covers the world as it goes into recession. The financial crisis, stock market crash, bankruptcies, job cuts, and the turmoil that follows.

Navy to Cut 3000 Jobs Amid Recession-Driven Sailor Surplus

Posted: July 12th, 2011 | Author: | Filed under: By Location, USA | Tags: | No Comments »

With more sailors staying in the military amid a slumping economic recovery, the U.S. Navy is taking the unprecedented step of firing midlevel service members to help rein in spending.

The Navy plans to let go of 3,000 sailors with between seven and 14 years of experience after economic uncertainty put the service in the unusual position of having a manpower surplus.

From: Fox News

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