, which will create tension as workers will be pitted against each other for the coveted spots. The office environment will feel tense as everyone will be trying to one-up their peers to keep their jobs.
Once one leading company lets go of people, others will follow. We’ve already seen this when Elon Musk purchased Twitter and started firing people. He had figured out that he doesn’t need a bloated workforce to run the social media platform. CEOs noticed that the headcount dramatically declined without too much damage caused. Musk’s strategy offered cover for companies to follow suit and execute their own layoffs.
There will be a pushback on so-called liberal “woke” agendas in the workplace. Shareholders, who are already seeing large losses on their investments, won’t stand for money to be spent on projects that don’t help improve revenue, profits and the bottom line.
JPMorgan, one of the largest financial institutions in America, said regulatory oversight of smaller banks, along with the flight of deposits leaving these banks, will cause a slowdown in loan underwriting. Thousands of people withdrew money from small and regional banks and opened accounts with the largest U.S. financial institutions, such as Bank of America, JPMorgan and Wells Fargo. These firms will be hiring to accommodate the influx of new business.
The losers will be shareholders of the shuttered banks, CEOs and executives at SVB, Signature Bank and Silvergate Bank. Outside auditors of the firms in question, rating agencies, government regulators and internal managers responsible for the divisions that caused the collapse will be questioned on how they missed the problems that led to this mess and may have a difficult time finding new jobs.
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