this post was submitted on 17 Oct 2023
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Technology
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I'm afraid I don't have any good sources to back this up, but I've seen it said multiple times in other threads on similar layoffs that investment capital has dried up in tech, investors are starting to demand a return, which leads to companies doing layoffs to cut costs etc. I'm sure smarter people can come along and explain it better (if they so choose).
The rich have way too much cash and desperately want another recession so they can buy cheap assets. Consumers, the overall job market etc. Are trending the other way and messing up the cycle of boom/bust. In this particular instance, I am fine with the layoffs... as long as they keep paying the people they laid off. Paying people whose jobs are automated should have started at least as early as the industrial revolution.
Exactly. We've been hearing "there's a recession coming, any minute now!" for YEARS, and yet every jobs report shows the economy is doing gangbusters.