WESTCHESTER COUNTY, N.Y. (TheStreet) -- It may seem like little more than semantics--a mere matter of tense--though it's anything but. Writing this morning about electronic maker Philips' ( PHG) grim earnings, The Wall Street Journal ( NWS) ran a telling headline: "Philips Cuts 4,500 Jobs as Profits Slump."Seems self explanatory, no? Profits slumped, so Philips cut 4,500 jobs. Well, not exactly. Philips only announced that it PLANNED to cut 4,500 jobs. Saying they are already cut is a bit like claiming today that you've finished your Christmas shopping. You PLAN to finish, but--well, you get the rest. Unfortunately, The Wall Street Journal does not. That's representative of a business media that regularly confuses the announcement of future job cuts with actual cuts. There is an important distinction for precisely 1,423 reasons, but the main one is that job cuts are a clear case of easier said than done. Quite often, employees push back and the cuts are harder to come by or more expensive to push through than originally planned--or the company fears lost revenue or initiatives, and backs off from a portion of the cuts. And yet...there the Wall Street Journal went, trumpeting the cuts in the present tense. They knew better, of course. In the body of the article, we are told about how the job cuts were announced, scheduled for an undetermined length of time going forward. That's a long way from that deceptive headline.