Layoffs rising?

[1srelluc]

I frequent a forum where most of the folks (blue-collar or tech) are still working and I've seen a shit-ton of "laid-off" threads in the last week or so.

Anecdotal evidence or is it happening?

 

[jbrownson0831]

I frequent a forum where most of the folks (blue-collar or tech) are still working and I've seen a shit-ton of "laid-off" threads in the last week or so.

Anecdotal evidence or is it happening?

Definitely happening....
We posted a job online for an Inside Sales Representative, someone who supports our field sales team by making outbound calls to clinics we rarely reach...230 resumes came back, from banking, credit card, mortgage, finance, etc companies who have laid off droves of folks with just this kind of experience.
....and our job doesn't pay close to what these folks were making....

 

[1srelluc]

Definitely happening....
We posted a job online for an Inside Sales Representative, someone who supports our field sales team by making outbound calls to clinics we rarely reach...230 resumes came back, from banking, credit card, mortgage, finance, etc companies who have laid off droves of folks with just this kind of experience.
....and our job doesn't pay close to what these folks were making....

I tried looking up recent figures (besides tech) and the MSM seems more interested in covering-up lay-offs than reporting on them.....No surprise there I guess given that they are in bed with the dems.

The blue-collar guys seem to state that it is a severe reduction in orders for their companies that prompted the lay-offs.

 

[jbrownson0831]

I tried looking up recent figures (besides tech) and the MSM seems more interested in covering-up lay-offs than reporting on them.....No surprise there I guess given that they are in bed with the dems.

The blue-collar guys seem to state that it is a severe reduction in orders for their companies that prompted the lay-offs.

I would say that is correct...

 

[80zephyr]

Construction is down in my area.

 

[Lisa558]

I frequent a forum where most of the folks (blue-collar or tech) are still working and I've seen a shit-ton of "laid-off" threads in the last week or so.

Anecdotal evidence or is it happening?

I don’t know about the “laid off” (yet), but I have had people tell me that blue-collar jobs aren’t hiring. Not a good omen, if true.

 

[jotathought]

I frequent a forum where most of the folks (blue-collar or tech) are still working and I've seen a shit-ton of "laid-off" threads in the last week or so.

Anecdotal evidence or is it happening?

It's happening .. Many organizations, such as technology firms, didn't respond well from a budget perspective during the height of COVID, and Healthcare payors have been impacted by recent legislation that targets Medicare and Medicaid benefits -- shifting more cost to the payor. Humana is a great example. The concept of budget from 2020 - 2022 was the wild west, and then a series of layoff waves and forced early retirements started as the 2023 budget cycle began. Literally, thousands of associates plus contracted resources, followed by a sell-off of their commercial business, their wellness and behavioral health program, real-estate assets (they sold their corporate headquarters), and multiple acquisitions.

 

[jotathought]

I tried looking up recent figures (besides tech) and the MSM seems more interested in covering-up lay-offs than reporting on them.....No surprise there I guess given that they are in bed with the dems.

The blue-collar guys seem to state that it is a severe reduction in orders for their companies that prompted the lay-offs.

Check out Humana .. they are a great example to highlight this outcome. Optum did the same thing.

 

[Harpy Eagle]

Construction is down in my area.

It is booming around here. There are at least 7 houses being built within a half a mile radius of where I live

 

[80zephyr]

It is booming around here. There are at least 7 houses being built within a half a mile radius of where I live

Every place is different.

 

[JohnDB]

I tried looking up recent figures (besides tech) and the MSM seems more interested in covering-up lay-offs than reporting on them.....No surprise there I guess given that they are in bed with the dems.

The blue-collar guys seem to state that it is a severe reduction in orders for their companies that prompted the lay-offs.

 

[Ringo]

It would be possible to believe that the poor and unemployed deserve their fate if the elites were at least a little bit made up of smart, talented and useful people, and not of criminal scum, sycophants and sons of bitches who “clean the fields” of everyone who doesn’t let them steal and doesn’t bow down to them.

 

[Harpy Eagle]

Yet, even with those revisions average jobs added per month are numbers that Trump only dreamed of.

 

[sealybobo]

I frequent a forum where most of the folks (blue-collar or tech) are still working and I've seen a shit-ton of "laid-off" threads in the last week or so.

Anecdotal evidence or is it happening?

Are you good at connecting the dots?

In 2023, Amazon had the most layoffs in the tech industry, with 27,410 employees laid off. Other companies with significant layoffs in 2023 included:

• Meta: 21,000 employees laid off
• Google: 12,115 employees laid off
• Microsoft: 11,158 employees laid off

The number of tech companies that laid off workers in 2023 also surpassed 2022, with 1,186 companies laying off workers compared to 1,061 in 2022.


In 2024, the tech layoff wave has continued, with 60,000 job cuts across 254 companies as of September 2024. Some notable layoffs in 2024 include:

• PayPal: Laid off 2,500 employees, which is 9% of its global workforce
• Swiggy: Laid off 400 employees, which is around 7% of its workforce

Apple, Google and Others at Trump Tech Summit Have Stashed $560 Billion in Profits Overseas

Trump has promised a huge tax cut that could be worth up to $140 billion to the 11 companies in attendance alone.

theintercept.com

APPLE, GOOGLE AND OTHERS AT TRUMP TECH SUMMIT HAVE STASHED $560 BILLION IN PROFITS OVERSEAS​

Trump has promised a huge tax cut that could be worth up to $140 billion to the 11 companies in attendance alone.

U.S.-BASED MULTINATIONALS are currently holding $2.4 trillion in profits overseas to avoid paying taxes on them. Remarkably enough, the 11 technology companies represented at Wednesday’s summit with President-elect Donald Trump at Trump Tower in New York account for about one-quarter of that total — a staggering $560 billion — all by themselves.

So while some among the technology industry made muted sounds about refusing to attend a summit with someone who so flagrantly violates tech’s supposed values, they were never going to follow through: Trump is worth far much too much money to them.​

U.S.-based multinationals are, in theory, supposed to be taxed at a rate of 35 percent on any profits they earn anywhere on earth. But because tax law also allows multinationals to postpone paying taxes on overseas profits until the money’s brought back to America, corporations have a huge incentive to use financial shenanigans to appear to “earn” as much as possible in other countries — something which is easier for tech companies than most others because their value is largely found in their immaterial intellectual property rather than immovable factories. Companies then refuse to bring the cash back until they get a special sweetheart deal slashing their rates.

Trump has promised to deliver such a huge gift to multinationals by allowing them to bring back overseas profits at a one-time rate of 10 percent. As he put it during the campaign’s final debate, “We’re going to cut business taxes massively.”

 

[1srelluc]

Are you good at connecting the dots?

In 2023, Amazon had the most layoffs in the tech industry, with 27,410 employees laid off. Other companies with significant layoffs in 2023 included:

• Meta: 21,000 employees laid off
• Google: 12,115 employees laid off
• Microsoft: 11,158 employees laid off

The number of tech companies that laid off workers in 2023 also surpassed 2022, with 1,186 companies laying off workers compared to 1,061 in 2022.


In 2024, the tech layoff wave has continued, with 60,000 job cuts across 254 companies as of September 2024. Some notable layoffs in 2024 include:

• PayPal: Laid off 2,500 employees, which is 9% of its global workforce
• Swiggy: Laid off 400 employees, which is around 7% of its workforce

Apple, Google and Others at Trump Tech Summit Have Stashed $560 Billion in Profits Overseas

Trump has promised a huge tax cut that could be worth up to $140 billion to the 11 companies in attendance alone.

theintercept.com

APPLE, GOOGLE AND OTHERS AT TRUMP TECH SUMMIT HAVE STASHED $560 BILLION IN PROFITS OVERSEAS​

Trump has promised a huge tax cut that could be worth up to $140 billion to the 11 companies in attendance alone.

U.S.-BASED MULTINATIONALS are currently holding $2.4 trillion in profits overseas to avoid paying taxes on them. Remarkably enough, the 11 technology companies represented at Wednesday’s summit with President-elect Donald Trump at Trump Tower in New York account for about one-quarter of that total — a staggering $560 billion — all by themselves.

So while some among the technology industry made muted sounds about refusing to attend a summit with someone who so flagrantly violates tech’s supposed values, they were never going to follow through: Trump is worth far much too much money to them.​

U.S.-based multinationals are, in theory, supposed to be taxed at a rate of 35 percent on any profits they earn anywhere on earth. But because tax law also allows multinationals to postpone paying taxes on overseas profits until the money’s brought back to America, corporations have a huge incentive to use financial shenanigans to appear to “earn” as much as possible in other countries — something which is easier for tech companies than most others because their value is largely found in their immaterial intellectual property rather than immovable factories. Companies then refuse to bring the cash back until they get a special sweetheart deal slashing their rates.

Trump has promised to deliver such a huge gift to multinationals by allowing them to bring back overseas profits at a one-time rate of 10 percent. As he put it during the campaign’s final debate, “We’re going to cut business taxes massively.”

"The chief business of the American people is business.” -Calvin Coolidge

If we focus our attention, efforts, and resources on business, (within common sense guardrails) then everything else will pretty much take care of itself, as elevated economic growth (you know, having a job) cures the ills of society, from poverty, to access to health care, to adequate housing.

If you want your provender given to you then you should fuck-off to the EU.

 

[sealybobo]

"The chief business of the American people is business.” -Calvin Coolidge

If we focus our attention, efforts, and resources on business, (within common sense guardrails) then everything else will pretty much take care of itself, as elevated economic growth (you know, having a job) cures the ills of society, from poverty, to access to health care, to adequate housing.

If you want your provender given to you then you should fuck-off to the EU.

I was following and agreeing until that last sentence. What huh?


If you want your provender given to you then you should fuck-off to the EU???

 

[Picaro]

No problem! Just have them selling each other Apple and Nvidia stock back and forth with each other!

 

[Captain Caveman]

It is booming around here. There are at least 7 houses being built within a half a mile radius of where I live

Is that because of government grants for deprived areas?

 

[Harpy Eagle]

Is that because of government grants for deprived areas?

Nothing deprived about in the area I live in, other than its distance to the beach

 

[Captain Caveman]

Nothing deprived about in the area I live in, other than its distance to the beach

Brit sarcasm