Majority of layoffs in great recession hit in 2009 although it started in late 2007 or early 2008.
I recall MSFT laying off thousands even though q1 2009 they made billions dollars in profit ๐๐
That was under Ballmer maybe Satya will be even more ruthless?
Intel had a pretty big layoff too. Adobe did too...
How long till companies do a cleanup purge just to play victim of financial crisis?
#economy #crash #bigtech
TC:210K
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Deleveraging is healthy and DOW could settle back down to ~32K as we're still in lala-land (see TSLA market cap etc...).
Mortgage companies are going to be the first to announce layoffs - obviously avoid Better etc...
People typically buy less homes and rent more in recessions especially w/ high mortgage rates.
https://www.theinformation.com/articles/more-startup-layoffs-are-coming-as-investors-push-founders-to-conserve-cash?