US companies appear to have cut far more jobs than their European rivals during the crisis, providing a possible explanation of why American groups are performing better than their competitors across the Atlantic.
Chief executives and analysts said the trend also offered a reason why economic growth in the second quarter was higher in the eurozone than in the US and UK.
They said while US corporate profitability was boosted by the jobs cuts, the economy might suffer in the short-term from the shock of them.
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