Goldman 'Sacks,' eBay bids audieu, Tellabs 'disconnects' - But well-oiled McD is heating up

Oh yeah life goes on
Long after the thrill of livin is gone
Oh yeay say life goes on
Long after the thrill of livin is gone....John Cougar Mellencamp

Firms seem to be firing "The Lay-off Announcements" on all cylinders.

• eBay announced it would lay off 10 percent of its 16,000 workers, including 1,000 permanent employees.
• Goldman Sachs Group Inc. is cutting about 10 percent of its work force amid the ongoing downturn in the credit and lending markets, a person briefed on the plan said Thursday. Goldman Sachs will cut about 3,260 jobs.
• My former employer Tellabs is cutting 280 jobs.
• Chrysler LLC announced it would get rid of 1,825 factory jobs and General Motors Corp. trimmed some benefits and said it would make further white-collar cuts.

On the 'Flip' side, a jump in global sales boosted McDonald's Corp.'s third-quarter profit by 11 percent, the company said Wednesday, a bright spot among restaurant companies as strapped consumers balk at spending their cash on dining out. The nation's No. 1 hamburger chain cited the popularity of its sandwiches and drinks, but reiterated that it was discussing changes to its Dollar Menu because of the high cost of ingredients and expected to reach a decision soon.
Consumers -- spooked by bank failures, declines in the stock market and talk of a prolonged recession -- have cut back on spending and focused on necessities. Given their desire to save cash, fast food sales have held up far better than those at pricier sit-down restaurants. Oak Brook, Ill.-based McDonald's is "recession-resistant," Chief Executive Jim Skinner said on a conference call, adding that it is "operating from a position of strength."