This is coordinated cost cutting across the largest employers during a time of record profitability. The goal of this is explicitly to use their monopsony power

This is coordinated cost cutting across the largest employers during a time of record profitability. The goal of this is explicitly to use their monopsony power to transfer wealth from the workers to the investors at the expense of product quality (since they will lose some people that they need to keep the lights on). These firms also happen to hold monopolies in many areas, so the amount of product enshitification the market will bear is practically unlimited. The wage fixing and enshitification halves of this scheme are probably both in violation of anti-trust law, though enforcement of the law in either way would probably be novel. Here's a long writeup showing how Amazon (accidentally?) pioneered industry-wide wage suppression for minimum-wage workers. I'm beginning to wonder if twitter was a dry run for the rest of the industry. https://chicagounbound.uchicago.edu/cgi/viewcontent.cgi?article=2598&context=law_and_economics https://chicagounbound.uchicago.edu/cgi/viewcontent.cgi?arti... > As one industry analyst noted, “Amazon is almost becoming like the negotiator for all hourly wage workers to a certain extent.”90 It is tempting to argue that this is good for workers. But Amazon is an employer, not a union. While it is true that workers benefit when Amazon enters a labor market, Amazon has every incentive to use its wage leadership to ensure that a cartel wage is maintained rather than the competitive wage.