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It actually feels like a semi-coordinated effort to push down wages. With high inflation, workers would have demanded raises, but with the specter of layoffs, t
by nytesky 3y ago
It actually feels like a semi-coordinated effort to push down wages. With high inflation, workers would have demanded raises, but with the specter of layoffs, they keep their heads down.
Musk bought Twitter in April 2022, had huge layoffs and then rest of tech followed in Nov 2022 onwards.
Prior to current trends was it common to announce great earnings and then announce layoffs?
- dartos 3y agoNothing seems coordinated. Musk made layoff palpable to investors, ZIRP ended, the industry is correcting for over hiring when assuming the 2020s growth would continue forever. Just a bunch of things that happened. As always. “We didn’t start the fire”
- kansface 3y agoWe went from 0% interest rate to a whole lot real quick. It used to be there was literally no overhead for over hiring if it moved the bar at all. Thats not true anymore.
- nytesky 3y agoIf it was really over hiring, and the end of ZIRP, why have their financial results been so strong? It’s not like profits dipped to losses from these “headwinds” — companies have been strong and AI is increasing demand for cloud services, chips, etc.