Layoffs 2024
shailynn
They never tell you what you need to know.
Monday, July 1, 2024 4:06 PM
The other day I ran into a buddy of mine who works for a national company. He said they just laid off 1,000 admin / support type positions and although there’s only 5 people (including him) in his division he’s looking just to be safe.
He has a relative who works in Vegas and the company he works for is laying a bunch of people off too. I said “wait a minute, I thought Vegas was kicking ass?” He said “people are still going, just not spending near as much as they were hence the reason that company needs to trim the workforce.”
Everything always gets crazy during an election year and usually everything calms down in the spring no matter who wins, but anyone else hear of mass layoffs recently?
He has a relative who works in Vegas and the company he works for is laying a bunch of people off too. I said “wait a minute, I thought Vegas was kicking ass?” He said “people are still going, just not spending near as much as they were hence the reason that company needs to trim the workforce.”
Everything always gets crazy during an election year and usually everything calms down in the spring no matter who wins, but anyone else hear of mass layoffs recently?
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25 comments
Your pessimism may be right, but your friend's anecdote doesn't support it.
But Right Now, Mi Company Market Is Doin' Well.
Our problems aren't really related to demand or anything though. Its more of a situation where previous leadership made some moves to save their asses and prop up numbers for the sake of bonuses and stock prices, now its time to pay the piper. I'd almost feel bad for some of the c-suite if they weren't only here because they lost this game of musical chairs.
Example - Nike just took a shit and dropped 20% in a day. Well, people went nuts buying athletic gear and collecting sneakers during COVID. Their closets are still full from then and guess where they’re going to trim spending costs?!?!?
People are drinking less, most alcohol companies are off 30+% since the COVID days. It amazes me that people didn’t see this coming.
Volkswagen is offering 0% financing on almost all models now.
I just wish we could hurry up and get this election over with and move on regardless of who wins.
With all of that said, the federal government can't keep spending like this forever. Sooner or later we're going to come down off of this blowout spending sugar high and when we do, the tab will come due.
No layoffs - just a hiring freeze and for now not replacing most who quit or retire.
This year will mark the highest amount of retirees defaming social security in the history of our country. Those benefits are being unlocked from our treasury department at a higher volume and assets from retirement plans assist. This is somewhat building a safety net for our economy going forward, much like when unemployment insurance and welfare benefits became prevalent after the Great Depression. The main deters to keep your eyes out on the horizon is if tax rates go back up to prior the TCJRA act in 2017. If so small corporations and individuals will take the beutnf od the slowdown, and it will be sometime before we can get out of the stagflation art event.
I know I Morgan quit working if the tax rates go up to prior levels. I’d pay almost $40k less in taxes annually if I quit work and maintain the same amount of income to spend. Smh… I ain’t working for the man come that scenario.
My Sugarbaby’s allowance has been cut, down almost 3 times the amount paid out in the previous years………Now she is finally understanding Elections & Economics.
Luckily it isn't affecting the bank I work for. We had been on a hiring freeze for about 16 months but the senior leadership just briefed us on the hiring plan for q3, q4 and into q1 of next year. We are going to be hiring across most departments, just not as much as we had in the couple of years before the hiring freeze.
Makes Me Hungry For Hooters Or The Local Mexican Restaurant.
Home Deliveries & Internet Orders R Puttin' A Significant Damper On The Industries.
Pay Type Adult Websites, Even Free Porn & Social Media Are Effecting The Strip Clubs.
The Strip Clubs Need To B Lenient With The Rules In Pvt Dance/VIP. I Hear A Lot Of Talk About Customers Wanting That! Time Is Ticking In This Economy!
I'm Hearing A Lot About Inflation On The News.
~~~~ Tuscl Cheers ~~~~
Sign of the times. My closed bank was just a barrier between me and my money. I’m going totally online. Bad drugstores are being run out of town by the Walmarts, Targets and Krogers.
Was staying at the Wynn. Minimum bet at the Blackjack tables were $25 at a couple but mostly $50 or $100. I played elsewhere and would bet $20-$40 on some hands but did so at my discretion. A minimum bet of $50 seems like a recipe for disaster. Vegas pushing the floor of everything higher by so much has not worked out well for the city.
I did see a working girl getting walked out of the casino by security at the Wynn too. I saw numerous others that were lurking but she must have been to obvious with her craft