They were the start of it, but they didn’t account for all of it. And, to be clear, it’s very much an over-correction. As usual they’re going to swing too hard in the opposite direction figuring that everyone else is doing it too, so if they have to hire people back, well they’ll be doing it in a flooded labour market so they can probably just re-hire the same people for less money.
I would have thought the mass layoffs in 2023, which eclipse the projected layoffs for this year, would have been the COVID correction.
They were the start of it, but they didn’t account for all of it. And, to be clear, it’s very much an over-correction. As usual they’re going to swing too hard in the opposite direction figuring that everyone else is doing it too, so if they have to hire people back, well they’ll be doing it in a flooded labour market so they can probably just re-hire the same people for less money.
well they are recording profits everytime they lay off.