Posted on 11/06/2022 5:39:07 PM PST by RomanSoldier19
Americans could suffer from Big Tech firms laying off workers and freezing hiring as the economy remains volatile, the founder of a Bay Area job search community told Fox News.
"The average American will probably be impacted, at least in some form, by what may happen in this next economic downturn in the tech industry," Albert's List founder Albert Qian said. "We touch these things every single day, whether it's Google Search, a store on Amazon, an Apple device."
"When the Microsofts, the Googles, the Amazons, the Twitters, when those companies start laying off people, that's when we need to start paying attention," he continued.
Major tech companies have taken steps to cut their workforce in anticipation of an economic downturn in the coming months. Microsoft, for example, recently announced layoffs across multiple divisions, and Meta implemented a hiring freeze.
(Excerpt) Read more at foxbusiness.com ...
https://www.investopedia.com/articles/markets/081515/how-inflation-and-unemployment-are-related.asp
In a paper last year, Wen argued that large-scale asset purchases by the Fed at the current pace could reduce the real interest rate by 2 percentage points, but would also put severe downward pressure on the inflation rate, among other effects. In The Regional Economist
https://www.stlouisfed.org/on-the-economy/2014/may/how-the-liquidity-trap-keeps-inflation-low
If the worker is needed, the worker is unlikely to be laid off.
Big Tech layoffs could Hurt Americans?
Learn to dig coal biatches.
There is far less need for post censors after an election.
Ditches still need dug, etc.
Prohibit bankruptcy discharge of no-fee loans of less than 6% interest.
Goodbye 19% loans, hello 5.99% loans!
.
Companies have been holding off on layoffs until after the election.
It’s going to be Bad.
All these employees / corps supported the crazy loon Biden Agenda, and people are going to suffer, and big time.
.
Local Real Estate Agency and Bank
Tired of low CD rates, come to Local Real Estate Agency and Bank. We currently pay depositors 4% and lend to our buyers at 1% more.
Many of our sellers participate in our 1% ten-year max mortgage subsidy program. The 1% subsidy will last until general mortgage rates fall below 4.5%.
Your effective mortgage interest rate is often 4% here.
Less greedy state suspends impact fees & mortgage and deed taxes.
The UK suspended stamp tax during the Covid scare.
Fwiw I and most of my friends are in tech-and highly conservative
That aside, most of us earn a lot more than average and spend disproportionately on consumer items, food and services
When that spending really slows its going to have disproportionate effect on the people and companies we buy stuff from and hire to do things for us
A lot of the idiots at social media companies serve no purpose but it will affect far more people than themselves
I’d be hesitant to celebrate any layoffs other than by government
The pain of millions in stock option profits is easily borne.
And I suspect Musk got very few thank you for being a sucker cards.
Herbert Hoover jawboned companies into retaining employees.
Stock prices eventually fell to below normal levels as profits disappeared.
Many of these workers will Not be missed as they’re in jobs we can do without.
But the idiots that run California will be in big trouble as their gravy train of taxes is going to take a shot in the gut.
Worse, Newsom and his idiots in the legislature have no idea how to prioritize spending.
Some many H1bs gone. Darn
Spot on!
Prohibit bankruptcy discharge of no-fee loans of less than 6% interest.
Goodbye 19% loans, hello 5.99% loans!
~~~~~~~~~~~~~~~~~~~~
Not sure how this post relates to this thread...
Can you please connect the dots for me?
49% of the state budget goes to education so ya
deport the h-1.b folks!
Black Friday sales will be skyrocketing at Amazon, Best Buy and thousands of retail outlests, they wont be laying anyone off for awhile.
The country needs more truck driving delivery men and less tech workers, thats what I say.
Yes, layoffs will hurt Americans, worse if they keep H1B while laying off Americans.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.