I sort of agree, except schools are hosting job fairs and finding out no one is coming. Laying people off is hard emotionally. Except for corporate raiders, mos

I sort of agree, except schools are hosting job fairs and finding out no one is coming. Laying people off is hard emotionally. Except for corporate raiders, most companies don't like to do it. It depresses morale. Now imagine you've gone through 2-3,000 workers. But you're still shopping around for interns. The people that stay will see this, and you can guarantee there will be a great deal of sabotage. I remember when there was the contraction (dotbomb) in 1999-2000. I was in Uni and when I went to the job fairs (Engineering, Science, and business colleges all had their own) the amount of alumnus was overwhelming. Guys that had graduated many years before me were taking a 2-3 hour drive to this land-grant university hoping to get a shot. Using their alumni connections to get any job. You can imagine what it would be like for an undergrad, no experience, no references, a meager resume, and a start date months or years away. I remember when Intel gave new hires severance money $7-10,000. They weren't going to start for at least 6 months. But Intel just laid off ~4,000 people so no way these guys were getting in. The problem is those programs are also tied to the economy in general. When businesses aren't hiring paid positions, it is also unlikely they are looking for unpaid interns. And those university programs are meaningless if there are no where for them to go.