This week started with the European Union and Japan making official declarations that they are in a recession. Citigroup announced plans to layoff more than 50,000 employees by early '09. In our industry, American Express, BCD, and Carlson were in the news regarding job cuts. And it's only Tuesday.
What it all means depends on whom you talk to. A director of meetings at a large financial services company told me the company cut all of its 2009 incentives. But the vast majority