There was always a strong suspicion the woke corporations were holding back negative employment intentions until after the midterm elections.
Well, as expected, the U.S. multinationals are starting to announce advanced downsizing.
(CNBC) – Tens of thousands of tech workers have been laid off within days, as tech giants including Meta, Twitter, Salesforce and others shed headcount going into the final stretch of the year. At least 20,300 U.S. tech workers were let go from their jobs in November, and more than 100,000 since the beginning of the year, according to Layoffs.fyi, which tracks layoffs in the field.
Tech workers reported huge drops in confidence in their job security through the summer, as news of layoffs, hiring freezes and rescinded offers put a damper on what’s so far been a worker-driven Covid pandemic recovery.
But the latest headlines are all converging at once as businesses course-correct on over-hiring and acknowledge how rising interest rates are thwarting their growth plans, says ZipRecruiter chief economist Julia Pollak. (more)
Nov 11 (Reuters) – Walt Disney Co (DIS.N) is planning to freeze hiring and cut some jobs as it strives to move the Disney+ streaming service to profitability against a backdrop of economic uncertainty, according to a memo seen by Reuters on Friday.
Chief Executive Bob Chapek sent the memo to Disney’s leaders, saying the company is instituting a targeted hiring freeze and anticipates “some small staff reductions” as it looks to manage costs. (read more)
As noted by Yahoo News, a “wave of layoffs” has begun that encompasses dozens of medium and large corporations [SEE HERE].
The layoffs, outlined in Yahoo, cover real estate, tech companies, banking, finance, automakers, EV startups, and brick and mortar stores like 7-11 and GAP. It should not come as a surprise, but it is sad to see, nonetheless.
Within the economy, a great pretending can only last so long… then reality hits.
The skilled trades should likely end up in the best employment situation, with the tech sector the worst. Service industries are also one of the first sectors hit when employment becomes an issue.
With rising interest rates, high inflation, excessive inventories, a shrinking production economy, extreme energy costs and diminished disposable income as a result of inflation and gas prices, there was going to come a time when it all starts to congregate. 2023 looks to be the year when economic pretenses collapse under the weight of having to admit a recession exists.
I know it’s easier sang than done.. but regardless of who’s running things.. life ain’t fair down here in the weeds..
so when things get tight.. don’t be ashamed to do anything.. don’t be above doing any kind of job..
throughout my single life I was a fck’n loner.. I didn’t have nobody.. I did what I had to do.. all I had was God.. He makes things happen..
I was determined.. reaching for the stars.. I was gonna be a fck’n diver.. or a fck’n rock star.. or crash and burn.. those were my only options.. my only destinations..
along the way being a fck’n diver.. I’ve been a fck’n dishwasher.. a fck’n limo driver.. even almost a fck’n male stripper.. and even almost a fck’n rock star..
Dad had told me it’ll be alright.. you know who you are.. back in his day pro football players had to take second jobs off-season just to get by too.. just like in other professions..
you chose this career.. so live your profession.. believe in yourself.. you see.. it’s not about what you do.. it’s about who you are.. it’s something called “character”..
just because you are down on your luck.. doesn’t mean it’s over.. life ain’t fair.. you’ve gotta fight to be you.. scratch and claw your way up.. every step of the way..
there were a couple of songs about this situation back in my day that helped me keep going.. I had made up my mind early on.. never give up.. never quit.. die trying..
because spending the rest of my life thinking about “what if..” scared the hell out of me..
screw everybody else.. just keep reaching for the stars.. even if you have to be a fck’n dishwasher during the holiday season..
believe in yourself.. you know who you really are.. and where you are going..
You were in “Honey Hatch”
I had to thinktank that one for a moment..
yes sir.. honey hatch.. but I never beehived.. I was offshore for long periods of time..
besides.. it was more fun dancing with the queens in the wildflowers..
You are right about sports people having to have second jobs off season. Back in the 60’s I worked at General Electric Co. (office) in downtown St. Louis. I remember one of the star Cardinal players coming in our office to call on one of our sales men. He worked for a supplier, either G.E. Supply or Graybar Electric. I don’t remember his name but I can still picture him in my mind.
thanks for the confirmation Lionel..
cheers..
yawn … humanity is getting what it chose ‘ in the garden ‘ … it’s arrogance and stupidity can only take it so far over the cliff … ( the landing will be interesting …)
Oh the horror, a bunch of left-leaning tech workers, probably most of whom are Indians and on work visas with their entire extended family of 9,329 uncles/aunts/cousins/brothers/sisters/wives/husbands/children brought over with them, have lost their job!!!
Anyways…
My wife works for one of those very left leaning companies that had layoffs. She kept her job (so far) but still keeping fingers crossed to get through the next few years. We had hoped this would be the job she was in until retirement, but things are getting just stupid so there are no guarantees. Even though her company reported huge gains, they’re now starting to take cost-cutting measures. Would have been better if they’d just taken cost-saving measures in the first place.
She felt guilty in the past for working for such a lefty company, but I told her… “wouldnt you rather they pay an exorbitant salary to a conservative than to a leftist” 😀
Anyway, sadly, the folks with the visas are probably the last to get cut as they often come out of a different budget than the regular full-timers.
” outlined in Yahoo”
WOW that is a huge list.
Certainly enough people that the enemedia had to have known prior to the elections.
I wonder what the leftists at many of these companies think about the media not reporting on these such that those same leftists would turn out to vote.
I guess electing turnips might not be such a good idea.
But….but…but I thought Joe said his economy was doing just great….
What is a “tech” company?
How about letting the “unhomed” move into Cinderella’s Castle and all the shops and restaurants?
Learn to c…uh, nevermind, lol
Here’s an investing tip:
Don’t invest in any company which put politics ahead of shareholders.
It’s time to re-up the “Declaration of Independence”from 1776 and move on from the “FAILED” Federal Government. The good news is “We the People” CAN fix it AGAIN. Our forefathers got it right and WE allowed it to be TAKEN from us. Time for a “RESET” and start it all over again. Not calling for conflict, but, Civil DISOBEDIENCE and a refusal to comply. As for me I’ve carved out a way to subsist off of my land for me my family and help my community around me. As a TEAM, as a COUNTRY of UNIFIED CITIZENS “WE THE PEOPLE” CAN OVERCOME. We can barter, trade, worship the one TRUE GOD, and, only IF pushed too far, protect the land that we love. What Those who have BETRAYED US “FEAR MOST is a TRULY WOKE SOCIETY who UNDERSTAND that it is “WE the PEOPLE” who keep this world moving in the right direction. WE don’t NEED THEM, THEY DESPERATELY NEED US.
No place to run , no place to hide they will tax your property out from under your Hyde
This news about companies laying workers off highlights the importance of companies providing jobs to Americans instead of hiring foreign labor.
Too many companies unnecessarily bring in foreign workers when American workers are willing and capable of doing the same work.
I’m a user acceptance software tester (UAT). This is non-technical work that simply tests that software works as intended from the end user’s perspective.
Any normal American of normal intelligence can do this work, but many companies have typecast this work as work that should be done by Asian-Indian immigrants.
There isn’t any reason for bringing in these foreign workers besides trying to change the cultural and ethnic composition of America.
Many of these workers are paid the same as American workers doing the same work, so companies can’t even claim that they are hiring this foreign labor to save on costs.
I suspect that companies in part hire foreign labor as they have more control over employees who are on foreign work visas than with employees who are citizens.
Employees on work visas jeopardize their work visa status if they lose their jobs so they are more incentivized to go along with whatever their employer tells them to do.
These companies that are now mercilessly conspiring with corrupt politicians to enslave the entire race are not invincible. They can be destroyed. People need to organize, boycotts, strikes, forced closures, etc. Drive them out of your state, town, county, etc. Confront corrupt politicians who represent the enemy at your expense. Those two guys who called out AOC in that townhall about her warmongering were great examples. Just imagine what you would do to someone trying to kill you and take everything you have and everything your progeny will ever have, and everything fought for by your ancestors. Because that is accurate.
Here is an easy one: Disney. Dedicate yourself to never buying anything produced by them. Maybe some Mickey bonfires. Stop supporting NFL/NBA.
Flip side of same view: too many American workers, especially white collar, waste too much time whining about their entitlements, work environment, need for woke stroking, etc.
No doubt about the recession. It’s the depression that I’m worried about. Grandkids will be entering the post college economy starting in a couple of years. I just hope there’s something out there for them. I’m getting less and less hopeful though. Tough times are just starting……
Now the truth has shown it’s wicked face, I find it very hard to beleive people voted for more of this doom and gloom economy and policies.
Lucky for them the World still needs Ditch Diggers. LMAO
Recommend reading :https://rwmalonemd.substack.com/p/physicals-virtuals-machines-and-overlords
Dr. Malone references an article describing the differences between “Physicals” and “Virtuals”, terms used to denote distinct worlviews that will likely resonate with the Physicals on this site. The new age Virtuals are susceptible to believe anything because they have very little real experience against which to compare the manipulative lies of the WEF crowd. They are the chearleaders for the great reset because they are confident that their tech jobs won’t be replaced by automation. As the article points out however, they are of the least actual value to anyone. I think this value will decrease as survival becomes more imminent. Who needs a financial analyst for example when one is watching their savings disappear into the maw of Davos?
Along with societal breakdown and crime, many idiots incapable of learning are going to be receiving hard lessons.
Those that support the Globalist Marxist agenda refuse to learn from history. Marxists have and will ALWAYS turn against their own. Sacrificing the pawns that ensured their advance and eventual victory has and will ALWAYS be part of the Marxist methodology.
I worked as day labor, part time delivery driver, gas station attendant..all at the same time durning the Carter recession, just to get by. It didn’t hurt me, but made me stronger. It all worked out.
“The skilled trades should likely end up in the best employment situation”??? This all depends on which skilled trade you’re in. I was in my carpenter apprenticeship when Carter was elected. We went from new construction everywhere to y9u couldn’t find work even if you invented the saw and hammer. The housing industry is ALWAYS first and hardest hit.
I keep hearing about i flation (it is real, I haven’t paid less than $100.00 for groceries in 6 months), possible recession, unemployment, etc, etc, etc, yet when I tried to get reservation for Thanksguving 2 weeks ago at a high end restaurant, the only available seatings were at the bar. Restaurants are full when we go out to eat. Anybody have an explanation other than partying hard the night before the ship hits the iceberg?
Oh my , when it was millions of steel , foundry , shipyard and assembly line workers being laid off it was because we were all over paid and the work we did could be done cheaper over seas and south of the border !
The result was a declining tax base and mountains of debt so the elites could keep all the plates spinning on sticks and balls in the air . As infrastructure collapsed and debt continued to pile up and inflation due to money printing destroyed a cross section of middle America .
We were all told we can work for less with no benefits.
So when the severance pay and unemployment run out Wal Mart Target and Burger King will have a minimum wage job just right for you tech workers as your tech work is done in sweat shops in some third world country .
See how the WASHINGTON ELITES OWNED DIRECT AND INDIRECTLY BY THE CCP WORK FOR YOU LMAO !
Bend over and brace yourself they are not done with all of us by a long shot !
Remember? Biden: “learn to code”??
HeeHaww HeeHaww