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Latest layoffs: Companies making cuts
Posted on 6/30/23 at 1:28 pm
Posted on 6/30/23 at 1:28 pm
LINK
As the economy tightens, layoffs like these will pick up in order to preserve a company’s profits. From the point of view of managing from the balance sheet, it’s a more predictable way of preserving profits via expense control since expenses are a lot easier to control compared to revenue.
As the economy tightens, layoffs like these will pick up in order to preserve a company’s profits. From the point of view of managing from the balance sheet, it’s a more predictable way of preserving profits via expense control since expenses are a lot easier to control compared to revenue.
3
Posted on 7/1/23 at 1:21 pm to Kreg Jennings
JP Morgan laid off 40. Everything else on that list is a doomed business model anyway.
Posted on 7/1/23 at 1:31 pm to Beessnax
KPMG to layoff 5% of Audit and Tax workforce. Announced this week.
Posted on 7/2/23 at 1:44 am to Kreg Jennings
quote:
expenses are a lot easier to control compared to revenue.
It's hard to grow revenue when the economy has been in a recession with no signs of it ending for well over another year. Profit keeps companies afloat, and provides a reason to hire people.
I'll wait here for the usual executive cash compensation BS, and will love when you explain how it's material to balance sheets. Or maybe I won't.
Posted on 7/2/23 at 6:43 am to Kreg Jennings
It's getting worse, but people don't seem to care anymore
Posted on 7/2/23 at 7:11 am to kywildcatfanone
quote:
It's getting worse, but people don't seem to care anymore
Why should they? Everyone is so used to bailouts and stimulus payments and loan forgiveness that they've basically become entitlements.
Posted on 7/2/23 at 7:26 am to kywildcatfanone
quote:
It's getting worse, but people don't seem to care anymore
for one, JPM laying off 40 of their 200k+ employees is not a concern.
I'm not going through each company's hiring practices over the years, but I'd question how many hires they've made recently and how it compares to their layoffs.
layoffs happen all the time in periods of strong economic growth and recession. with the unemployment rate being historically low, there is no room for it to go, but up at some point in the future; however, there's really no reason to worry about it right now when each data release suggests a strong labor market. let's start ringing alarm bells when it crosses 4.5-5%.
Posted on 7/2/23 at 9:46 am to JimMorrison
It doesn’t matter as long as there is plastic money. I don’t see change in American lifestyle. It seems to have gotten worse
This post was edited on 7/2/23 at 9:47 am
Posted on 7/2/23 at 10:29 am to glorymanutdtiger
quote:
I don’t see change in American lifestyle. It seems to have gotten worse
not worse! it just shows America is the best.
the resiliency in the American consumer has surprised a lot of people. just think about when we get lower rates next year and we'll be able to unleash more leverage. it will be even better.
Posted on 7/2/23 at 11:27 am to JimMorrison
quote:
the resiliency in the American consumer has surprised a lot of people
The stupidity of the average American and their lack of foresight and planning for the future and/or emergencies along with their comfortability living in debt up to their eyeballs is keeping this economy going.
With rates as high as they are, how long can this continue? Hopefully forever, not my problem
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