Man, another day and more layoffs with Twilio laying off folks for the...100th time. In the last week we have seen Boradcom, Spotify etc. happy to wield the axe. Everyone blames over hiring during the pandemic, but a lot of the firm's laying off folks are not only growing revenue but also generating fat profits. What gives? Do yall really think that once inflation hits 2%, Fed will pause/decline rates and then hiring will sky rocket? How can you be so sure? My hunch is that more work is being done by fewer folks, and more work is being sent overseas, so that work gets done at cheaper wages. Lastly, with the focus on profits, I feel a lot of the vanity projects that firms were working on have been permenantly cut and will never see the light of day again, further depressing hiring and wages. Happy to be proved wrong but we also have way too many people entering the field and a dearth of decent paying jobs not to mention record immigration. I know after the dot com/'08 crash some old timers told me that it took ages for hiring to pick up and wages to reflect that. What's the best bullish case for hiring to get to 2019 levels? Likewise, any bears who think the industry's best days are behind and want to take the bear case?
idk but I’m tired of being unemployed every year
Skilled mmigration is not at record rates...
Surving on a low European wage. I hope layoffs don’t happen again here.
2023 is a baby for what’s to come in 2024 ☄️
No, late 2024 will be better. However expect layoffs dec/Jan
What percent of your net worth would you bet on this
Hold on. It only gets worse for the next couple of years.
Dm for tiktok
Interest expenses are going up and need to trim someplace else.
The Fed won’t cut rates and inflation won’t come down until the unemployment rate and market volatility skyrocket. The Fed is a reactionary entity. They have a poor track record with anticipating economic crises.
thats exactly why they will cut rates, them being reactionary to inflation not increasing equals "hurr durr me powell me fix problem me cut rates now for friends at goldman"
Change in rates takes time to reflect. Even if they get cut, it may not avoid the inevitable.