Layoffs: Companies copy others 'in almost mindless imitation,' professor says

Evercore ISI senior managing director Mark Mahaney reveals which stocks could outperform if the US economy is hit with a recession on 'Varney & Co.'conditions and recession fears as the driver.

"It is a process called social influence—people, including managers look to what others are doing in a process of social contagion," Pfeffer said, adding that this can even occur with layoffs. Worker selects and packs items during Cyber Monday at the Amazon fulfilment center in Robbinsville Township in N.J., Nov. 28, 2022.As a result, Safai said other companies who are observing their competitor "getting ahead of the game by cutting their loses" may be questioning whether they are doing something wrong. Amazon, Apple, Meta Platforms, Lyft and Twitter weres announcing hiring freezes or layoffs, with Amazon possibly reducing its workforce by as many as 20,000.

we’ll if the professors and nyc psychiatrists say so..

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Jim Cramer says he expects 'many layoffs' at companies after ChristmasPepsi is one of the latest companies to downsize following layoffs at food and beverage peers Beyond Meat, Impossible Foods and rival Coca-Cola. I hope (but don’t expect) to layoff jimcramer immediately So all our jobs are safe then? 👍🏽 Plot Twist. Jim too, will be gone with the wind.
Source: CNBC - 🏆 12. / 72 Read more »

White-collar layoffs soar at brand-name companies amid economic slowdownAmong the brand-name firms announcing job cuts or hiring freezes recently, according to a list compiled by Reuters: Amazon, Citigroup, Intel, HP, Microsoft, Johnson & Johnson, Phillips 66 and the Walt Disney Co. Too heavy anyway 🤷🏻‍♀️ But wait, what happened to the HUGE job growth that was exalted by Biden? Yes. Jobs returned after the shakedown I mean shutdown. But growth? Pfffffttt. Reality is you’re seeing a recession folks. Amazon could start by not paying Andrew Jassy $202 million a year. CEO's are grossly overpaid. What exactly do they do, other than do book deals and paid meet and greets?
Source: NBCNews - 🏆 10. / 86 Read more »