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But we aren't seeing major layoffs in other industries, unemployment is low and job growth is relatively high. It seems like the low interest rates were helpin
by schnitzelstoat 4y ago
But we aren't seeing major layoffs in other industries, unemployment is low and job growth is relatively high.
It seems like the low interest rates were helping sustain a bubble in tech and that bubble is now deflating.
- hef19898 4y agoWhich other industries relied so heavily on outside funding to stay afloat?
- monero-xmr 4y agoI don't think you have been reading the same news I have. Maybe you are only reading tech-news like HN Disney https://www.cnbc.com/2023/02/08/disney-reorganization.html https://www.cnbc.com/2023/02/08/disney-reorganization.html 3M https://www.cbsnews.com/minnesota/news/3m-to-lay-off-about-2500-employees-due-to-2023-economic-outlook/ https://www.cbsnews.com/minnesota/news/3m-to-lay-off-about-2... GE https://www.cnbc.com/2022/10/06/ge-layoff-20percent-of-onshore-wind-workforce-hundreds-of-jobs.html https://www.cnbc.com/2022/10/06/ge-layoff-20percent-of-onsho... Dow Chemical https://cen.acs.org/business/finance/Dow-rolls-layoffs-profits-slump/101/i4 https://cen.acs.org/business/finance/Dow-rolls-layoffs-profi... Ford https://wraltechwire.com/2023/02/14/layoff-watch-ford-cutting-more-jobs-nearly-4000-this-time/ https://wraltechwire.com/2023/02/14/layoff-watch-ford-cuttin... I can keep going, but this is much broader than tech