Layoffs ramping up and it aint just tech. Walmart lays off 2000 workers

JetFueledThoughts

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JLova

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Companies Keep the lower paid employees, but bob in marketing, Susan in sales , and Timothy in IT manager making 80-100k a year and good bonuses and benefits we have to let go and they just make mike and Becky in other departments cover those areas and reduce hours and production..,

Might be different times but the same story from 10,20, 30 years ago

They call it an “opportunity”
 

JetFueledThoughts

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You know that can change rather quickly and the Fed is doing whatever it can to jack up that number?

Also the job numbers are janky as hell.

You’re in here saying the unemployment rate will hit double digits when that didn’t even happen during the ‘08 recession. THAT’S janky as hell.

A lot of companies (especially tech) overspent during ‘20-‘22 because free money was floating around. Now that interest rates are up to fight inflation those same companies are having to cut back. The world isn’t falling apart. Companies are laying people off then they’re finding jobs relatively quickly. The unemployment rate is .2 % lower than it was in Feb of ‘22. Stop it

Blame the government when inflation is goin crazy then blame the government when unemployment goes up. You can’t have both.
 
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JLova

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You’re in here saying the unemployment rate will hit double digits when that didn’t even happen during the ‘08 recession. THAT’S janky as hell.

A lot of companies (especially tech) overspent during ‘20-‘22 because free money was floating around. Now that interest rates are up to fight inflation those same companies are having to cut back. The world isn’t falling. Companies are laying people off then they’re finding jobs relatively quickly. The unemployment rate is .2 % lower than it was in Feb of ‘22. Stop it

Blame the government when inflation is goin crazy then blame the government when unemployment goes up. You can’t have both.
Reading is fundamental. I said unemployment COULD get close to double digits. Thrn I said it could get even worse it all depends how soon the Fed decides to change direction and hoe much damage will be caused. Economy doesn’t turn on a dime.

Let me ask you. In 08 what was the equivalent of Microsoft, Disney, Google, Twitter, Meta laying off tens of thousands of people in a couple months?

US is in a tough spot.
 
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JetFueledThoughts

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Reading I’d fundamental. I said unemployment COULD get close to double digits. Thrn I said it could get even worse it all depends how soon the Fed decides to change direction and hoe much damage will be caused. Economy doesn’t turn on a dime.

Let me ask you. In 08 what was the equivalent of Microsoft, Disney, Google, Twitter, Meta laying off tens of thousands of people in a couple months?

US is in a tough spot.

The world COULD also explode in 2 years from global warming, but you’re still gonna be called an idiot if you make a thread screaming panic about it.

As for the bolded? Context is also fundamental, but you don’t care about that shyt. Check the below

 

prime

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That’s crazy because Walmart has a new warehouse in Joliet Illinois and they just had a big azz job fair my cousin is a lead there and 4 of my cousins just got hired i know Amazon is closing down their warehouses with the least traffic so maybe this is the same

Edit: i feel for the people losing their jobs but now that I think about it 2,000 isn’t a lot their are 210 Walmart warehouses and 50 Sams club warehouse I know my cousin warehouse alone has 1100 employees and looking to fill 120 more positions just texted her
 
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Inflation going up which means consumer spending going down. Makes sense with more to come in the retail sector throughout the year. You won’t hear this on your cable news program because they don’t want the folks who haven’t figured it out yet to take their dollars and run home
Consumer spending is weirdly up.

Even with layoffs in tech, there are a lot of people still working in STEM, health care, finance, etc., who can and will just pay more for products. It's interesting. If you're single and making 125K+ a year, or married with no kids and making a combined 225K+ a year, you probably are more likely to gripe a little about higher prices, but spend anyway. I wonder if there are more of those consumers in the market than ever before, which explains the disconnect.
 
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