Too bad the federal government is not included in this. It could certainly use significant downsizing
Survey: Half of American Companies Set to Cut Jobs After Hiring Surge
Numerous companies across the United States are planning to trim their employee numbers, Fox Business reported Friday.
The outlet continued:
That’s according to a new survey published on Thursday by consultant PwC, which last month polled more than 700 U.S. executives and board members from various industries. About half of respondents said they are preparing to reduce headcount — or already have — while 52% have implemented hiring freezes.
On top of that, roughly 46% of companies are either dropping or reducing signing bonuses, which became commonplace over the past year as businesses tried to lure in new workers amid an increasingly tight labor market. Another 44% are rescinding offers entirely, the survey showed.
Home goods company Wayfair decided to cut approximately 870 workers to help manage operation costs and “realign its investment priorities” following the coronavirus pandemic, the Associated Press (AP) reported this week.
In the car business, staffing levels in many areas are down a third to a half. Many companies across the board have reduced hours, so, do not need as many employees. Many are simply implementing robots and ordering boards, or simply running lean
In addition, Best Buy was also cutting jobs as the company grappled with shifting consumer behavior, the AP reported on August 12.
More people order online, then come in to pick up product, especially since so many products are now kept in centralized warehouses and stores keep less product, because there isn’t enough to keep lots of extra at each store.
According to the recent survey by PwC, respondents were trying to streamline the workforce to create the right balance of worker skills moving forward.
“This comes as no surprise. After a frenzy of hiring and a tight labor market over the past few years, executives see the distinction between having people and having people with the right skills,” it stated.
We should do this to the federal government, which is bloated with lots of extra employees who do not really do a lot, have redundant jobs, or are simply there to push the power of Centralized Government.
It just shows the extreme instability of the economy, and Joe is off passing tax, climate, and (barely) health bills, doing things that, at best, do not help the economy, and on vacation.
Even Tesla is laying off. Elon is so far ahead of the game that he began laying off months ago even going so far as to be sued by his employees because heaven forbid the CEO of a company would put the company above its employees. Tesla gave them severance packages which 99 percent of other companies do not do.
Apple is laying off. Most of the tech companies are laying off including Facebook and Twitter who have found that without Donald J. Trump they are losing hits by the millions.
Truth Social is booming. People are flocking to it to post and post and post with FREEDOM. The only RULE is no Criminal activity as in threatening to kill each other. No law that says you can talk like DOWD on Trump’s Platform.
So yeah. Everyone knows we are headed for a recession, the FED IS JUST PUMPING BILLIONS INTO THE ECONOMY UNTIL NEAR OR AFTER THE ELECTION because even they have a policy. Don’t let THEIR ACTIONS AFFECT A NATIONAL ELECTION, even though they should have stopped this a year ago to sort out this mess of an economy.
Interest rates are at 5 percent yet banks are only pay 3/10ts of one percent on CD’s. WHY? Because everyone is trying to keep the money in the stock market including banks and Credit Unions because the ROI or return on investment is so HIGH. No bank wants to be selling 3-4-5-6 percent CD’s and then have the recession end in 2 years and they are locked into high rate CD’s for 7-8 more years.
FREE MONEY IN THE STOCK MARKET. Not so free when BANKS have to bear the brunt of funding the economy which is being done by the FED since 2007. Our entire economy is a house of cards right now. A giant ponzi scheme and we are on the verge of another 2007-2008 fiasco. This time it is housing and the stock market that is a huge bubble of silliness driven by the fed.
It’s happened before…
http://tallcotton-ppjakajim.blogspot.com/2008/10/barney-franks-herb-moses-bill-clinton.html
Truth zsocisl currently has about 500000 users
Twitter 200 million
The value of Truth Social stock has fallen by 50%
Only in your biz around world could you say Truth Social is doing well
The most recent data about Truth Social regarding how many people use it accounts for an estimated 2 million active users.
In comparison, Twitter has 300 million users. However, Twitter has been around for 16 years, compared to Truth Social’s three months.
Additionally, it is being discovered that half of Twitter is BOT SHILLS paid for by China, Russia, and the DNC.
I find it laughable that Hairy can’t even look up the facts before posting something his people at MSNBC are telling him.
All the alternatives are roaring. The right has established non-cancel alternative financing to Paypal and Patreon.
TimCast and the Daily Wire are now getting more views per month than all the networks and cable outlets combined.
The problem that the right has is that there is no outlet that owns an ISP as in ATT, Amazon. Oh wait Elon Musk is launching his own internet platform. Sorry Wokies.
Tesla phone guys. Check it out. Its more expensive but it can also let you surf the internet and make phone calls from the South Pole.
Apple and Meta/Facebook are in a war against each other. Zuckerdick wants YOU. YOU are a product HE SELLS to the highest bidder. Anyone that uses Facebook is crazy if you value any form of privacy.
Apple decided to allow you to turn off all your app tracking if you so desire, costing Facebook 10 billion a year. If you have an Iphone, look into app tracking and turning it off. There is no way you should LET FACEBOOK TRACK YOU…so ZUCKERPUCKER can spend your money buying democrat votes.
Downer on the Coner
Do you personally own stock in Truth Social? Do you think others should buy? Tesla has gone up 25%
BOT hairy.
Tesla is owned by a man who hates everything you stand for. But thanks for Casting praise on Tesla which is making its own internet platform to cancel the cancel culture. He also now has Tesla phones to access that internet and is looking to begin the production of computers as well.
But thanks for playing hairy. Do you own stock in Tesla? Or will China allow that>?
Actually, Down on the Corner, I think Hairy lives a Ted Kazinski kind of existence. A lot of kippered salmon cans out back. The better news is both he and Elwood might be looking to work for Sarah making $1200 a week for 2-3 hrs. of work. Sounds custom made for leftists.
They will repeat as told. Resistance is futile when your IQ is below a Zulu.
Work for 2-3 hours 1n your spare OO time and get paid $1200 0n y0ur bank acc0unt RTu every week…
Get more information 0n f0ll0wing site… Read more
The FED is purposely creating a recession to tame inflation. Textbook FED. They raise the interest rate to slow the the economy. Fewer car loans, fewer home loans, layoffs, reduced demand.
The FED was responsible for the 1982 recession that resulted in record high unemployment but did correlate with a reduction in inflation.
Mr Lewis, You link was to a dog’s breakfast of nonsense. Really, the 2008 Great Recession was the fault of Bill Clinton, Barney Frank and Barack Obama? LOL. We’ve heard it all before. BTW, your farrago of an article concluded that a 1929 depression could not be avoided unless… “The one and only thing that will save us from a Depression of 1929 magnitude is for the Congress to declare a national emergency and direct the oil companies to take all necessary actions to drill and bring oil on line.”
What brought the US out of the tRump Recession so quickly? Government spending.
Jeff,
Yes we have heard your crap before. We educated you on the issues of Frank destroying the world economy. Government spending has no gotten us out of any crisis. No sense in repeating all that again as you are the only one running around saying stupid things with no knowledge of history or economics.
Brandon and the demos spend an unnecessary $3.8 TRILLION in less than 2 years.
Whaddya expect?
Then President Trump added $7.8 TRILLION to the debt including nearly $3 TRILLION in new spending.
Sure, sure… Barney Frank and Bill Clinton and Barack Obama for the housing crisis and financial meltdown that happened 8 years after George W Bush took office and before Obama. LOL.
The biggest problem with the nuCons/nuGOP is their beliefs in fantasy.
diva uses the word “educate” instead the correct word, “type”.
As has been pointed out before Rimjob hasn’t the faintest idea of history or economics.
More willful denial from the professional denier. It’s a matter of historical fact (unless they changed it like the definition of vaccine) that the deliberate actions of Barnie Frank and the other corrupt congresscritters who wanted ineligible minorities to purchase houses they couldn’t afford just for votes. They made bad laws for the Federal Reserve, made private banks their scapegoats and damn near ruined the US economy to push their twisted economics.. But the corruption denier never sees the corruption when it’s his favorite democommie criminals doing it.
And the pedo laughs.