U.S. companies spent $51.3 billion on employee training in 2003, down 6% from the previous year, according to the 2003 U.S. Training Industry Study, conducted by Training magazine. It’s just the fourth time in the last 22 years that training spending declined, and it marks the first time since 1982 that training spending dropped two years in a row. The economy is the overriding reason for the cuts. The combination of widespread layoffs and hiring freezes has reduced the American workforce, ...

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