"The Strategic Imperative Not to Hire Anybody."

"[CEOs have] decided that we've touched bottom, or they wouldn't be talking to me... They're starting to think about growing their businesses again.... But boy, I don't see employment coming back, not for years. My clients were amazed by how much productivity they could squeeze out of their people in the downturn. They're not going to start hiring again — well, maybe temps or contract workers, but not regular, full-time employees... In fact, the CEOs are mad at their middle managers for not having eliminated more jobs earlier."