Welcome2B_Here t1_j5esznp wrote on January 22, 2023 at 2:21 PM

Reply to comment by miltonfriedman2028 in What High Tech and Media Layoffs Say About the Economy by PleaseThinkFirst

There are much broader effects from headlines like these, though. It's easy to dismiss the numbers on a percentage basis from the sidelines, but the real impact will be a domino effect across communities. Mid-tier companies and SMBs copy what the large enterprises do, even if they don't really have to.

Also, as a side thought, if these large enterprises in the headlines are still making tens of billion in profit, then why layoff in the first place -- especially considering the narrative about a supposed labor shortage and skills gap? No one should wonder why people don't have loyalty anymore.

rulesforrebels t1_j5ga2kb wrote on January 22, 2023 at 8:21 PM

Plus those 10k or 12k peoppe all took vacations bought groceries and cars paid for services and they now will be cutting back which in turn affects all the businesses they spent money with. Add to that 70% of our economy is consumer spending so that means something