The U.S. job market has been remarkably strong, even in the face of other economic head winds. Yet there’s been a proliferation of large-scale layoffs in recent months. Some of the deepest cuts have occurred in the tech and media sectors, but even large corporations with relatively robust balance sheets have slashed hundreds of white-collar positions.according to the Bureau of Labor Statistics, as unemployment fell to 3.5 percent, near record lows.
Aaron Terrazas, the chief economist at the employment website Glassdoor, said there are three kinds of companies laying off employees right now: those for whom debt is becoming more expensive amid Fed tightening; those uncertain about the economic outlook; and those using the economic climate as an excuse to cut employees they would have let go anyway.
Lol! Go woke, go broke!
They told people they would deduct money from their accounts if that person posted something on social media PayPal didn’t like. People said no thanks. Here’s the result of inserting social justice into your business model. But you knew that….
Yes, latest company to have massive layoffs in an industry that’s proven to be understaffed in favor of short-term profits.
Making billions in profit and laying off people. The American way
Average churn rate in tech is 12%, so this 7% layoff represents just 7 months of normal attrition/replacement. And they’re scheduled to be releasing their quarterly report next week, which makes this sound more like Stock Price Damage Control…
I closed my PayPal account because one of the founders of is funding the GOP. I hope more people do the same.
If twitter monetizes BK for pp.
Daily reminded that PayPal is ran by commies and they have smuggled language into their tos to fine users thousands for offplatform ‘misinformation’
When Twitter was downsizing everyone was calling Musk unprintable names. Facebook and others are doing to save cost in the Biden economy and everyone is suddenly silent. The hypocrisy is outstanding
Transitory.
evewalker_42 Don't worry, Powell says we're fine.
Please help me! My name is Lin donglong, an employee of China telecom fuzhou branch. Company manager huang fei (communist party of China) organized the leadership of the gang of evil forces brutal persecution: surveillance location, insult,abuse, framed to take nude photos of me
But no article about the US economy setting a 50 year record for lowest unemployment? Or Biden for historic job creation? Only bad news allowed.
Hi Wapo, whose economy is this?
LOL...Who's going to tell Potus? Bankrupt
São bolhas que estão estourando de uma época passada. Tecnologia muda muito rápido, inclusive diminuindo os quadros de funcionários. Vai ficar muito pior os desempregos com energia limpa chegando.
Hillary 2024
Businesses that were addicted to cheap money..over paid employees…done
Mass layoffs have been happening for months due to inflation and the FED hikes you're paper refuses to cover.
How about a rundown on the government employees who have been let go? They are the really rare - so even one should get some media attention
Meta and Amazon hired those people, likely took them away from other jobs. They planned with that many employees. What utter inkompetence & completely disgraceful to lay off that many people
hanya bisa menduga.. jika tanpa data
smh ofc the black woman is the one fired.
Let’s not forget Wapo, CNN and numerous other left wing news sources. Do you know why? Becuse people have realized the bullshit narrative and aren’t buying it anymore. Literally.
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