The media likes a good layoff story.
That’s what happened in TV and print media coverage over a 100-employee layoff at Capital One as the company trimmed its Delaware mortgage operation. Even after the cuts, Capital One has more than 2,000 employees in the state. It also has a couple of hundred open positions in other areas, including technology.
That was followed up by coverage by the News Journal of a 50-employee cut at 21st Century Insurance, a part of auto insurance giant Farmers.
That should have been the end of the story. But for some reason, other layoffs were thrown into the mix adding to the sense of foreboding many of us are feeling these days. After all, Delaware has been wounded by round after round of cutbacks at DuPont, a company that for so many years influenced every corner of the state’s economy.
Not mentioned was the gain of 30,000 jobs in the state over the past couple of years.
Some of these jobs may be marginal, but others have come in technology and other higher-paying areas.
Pointing out the job gains is not an effort to minimize the challenges ahead. In addition to the loss of high-paying jobs at DuPont, changes in financial services and other sectors point to the need for retraining and continuing education.
Still, it is important to keep things in perspective and offer both sides of the story.
