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Companies are talking about turning ‘furloughs’ into permanent layoffs

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A worker wearing a protective mask adjusts a torque wrench inside the service area at a Harley-Davidson dealership in Oakland, California, on Thursday, July 16, 2020.

David Paul Morris | Bloomberg | Getty Images

The dark side of good earnings: Companies are talking about turning “furloughs” into permanent layoffs.

You knew this was coming. It’s been a very strange earnings season.  Analysts dramatically underestimated earnings for a good part of the market, particularly industrials, financials, and many technology stocks. 

The average company beat analyst estimates by 22% — way above the historic norm of a 3% beat.  But top-line revenue beat by only 1%. 

The huge disparity between…



Source cnbc.com

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