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Grim outlook from PWC research: Expect layoffs at 51% of US companies
Posted on 8/31/22 at 12:49 pm
Posted on 8/31/22 at 12:49 pm
quote:
Expect Layoffs At 51% Of U.S. Companies, According To New Survey
Forbes
According to consultancy PwC, a survey of 700 executives and board members from various industries conducted last month shows:
Layoffs
Definite Layoffs: 51% have started layoffs or are planning to start layoffs
Potential Layoffs: An additional 19% are considering a plan to reduce headcount
Hiring Freeze
Definite Hiring Freeze: 52% have started hiring freezes or plan to start a hiring freeze
Potential Hiring Freeze: An additional 18% are considering hiring freezes
quote:
That said, the survey also shows that 70% of companies have expanded or are expanding remote work permanently, 64% are increasing or plan to increase compensation, and 62% have increased or are increasing mental health benefits.
Tech has been hit hard.
Major layoffs announced since May 2022:
quote:
Microsoft MSFT +0.3%: 2,000 people
Apple AAPL -0.1%: 100 people
Shopify: 1,000 people
Robinhood: 700 people
Netflix NFLX +2.4%: 300 people
Tesla TSLA -0.6%: 229 people
Peloton: 780 people
Groupon: 500 people
Carvana: 2,500 people
12
Posted on 8/31/22 at 12:50 pm to dewster
Let's watch it burn.
Most of these companies have departments that are complete jokes anyway.
Yes, I'm aware it trickles down. Yes, it may affect my family. No, I don't care, we will survive, we always do.
Most of these companies have departments that are complete jokes anyway.
Yes, I'm aware it trickles down. Yes, it may affect my family. No, I don't care, we will survive, we always do.
Posted on 8/31/22 at 12:51 pm to dewster
I guess the Biden Boom was short-lived
Posted on 8/31/22 at 12:51 pm to dewster
A lot of those companies were likely bloated in the first place.
Posted on 8/31/22 at 12:52 pm to Odysseus32
Remember, two consecutive quarters with negative GDP growth is no longer a recession.
We have changed that definition for reasons completely unrelated to mid term elections, our flat footed monetary policy at the Fed, and current leadership in Washington DC.
We have changed that definition for reasons completely unrelated to mid term elections, our flat footed monetary policy at the Fed, and current leadership in Washington DC.
Posted on 8/31/22 at 12:52 pm to dewster
they layoffs are only transitory. no biggie. this is totally not signs of a "recession"
Posted on 8/31/22 at 12:52 pm to Deactived
quote:
I guess the Biden Boom was short-lived
We have rebranded it to the Putin recession.
Posted on 8/31/22 at 12:54 pm to dewster
Just making sure the new generation starts out fricked like the millennials before them.
Posted on 8/31/22 at 12:54 pm to dewster
quote:
62% have increased or are increasing mental health benefits
This is an interesting one for me. Major insurance companies like Humana, Anthem, and United Healthcare have been pushing to hire in shitty therapists for their exclusive telehealth platforms (i.e. LiveHealth Online, Doctor on Demand) and reducing compensation for in-person therapists that are not on their telehealth platforms. For instance, I always see clients for an hour per session. But with some of their telehealth platforms it's an hour for initial session then 30 minutes for any after. With no guarantee of seeing your therapist regularly (like bimonthly or weekly if needed).
So I'm curious what they're actually increasing.
Posted on 8/31/22 at 12:55 pm to Klark Kent
quote:
they layoffs are only transitory. no biggie. this is totally not signs of a "recession"
You mean other than negative GDP growth for two consecutive quarters (-1.6% in Q1-22 and -.9% in Q2-22)?
Posted on 8/31/22 at 12:57 pm to dewster
quote:
Grim outlook from PWC research: Expect layoffs at 51% of US companies
Bidens* America
Posted on 8/31/22 at 12:57 pm to dewster
Huge allies in Europe have even more ridiculous green energy policies than we do, so we'll be shipping oil and natural gas to them this winter.
So I hope that means that Texas, Oklahoma, and south Louisiana might weather this recession better than others.
So I hope that means that Texas, Oklahoma, and south Louisiana might weather this recession better than others.
Posted on 8/31/22 at 12:59 pm to dewster
Labor participation rate is collapsing again - it's lower than it was pre-pandemic.
So that might artificially shield us from shockingly bad unemployment numbers, at least for a while.
So that might artificially shield us from shockingly bad unemployment numbers, at least for a while.
Posted on 8/31/22 at 1:01 pm to Odysseus32
quote:
Most of these companies have departments that are complete jokes anyway.
The diversity employees are getting raises and promotions.
Posted on 8/31/22 at 1:02 pm to Ed Osteen
quote:
A lot of those companies were likely bloated in the first place.
I’m going to be really curious about all the HR, DIE, and project managers that are just pushing emails around.
All these superfluous people that have posted TikTok’s of their easy days of having meetings at the pool getting in at 9 and enjoying all the company perks are about to be in a world of hurt.
Posted on 8/31/22 at 1:03 pm to kywildcatfanone
quote:
The diversity employees are getting raises and promotions.
It's even worse in colleges/universities. The Ohio State spends something like $16 million a year for a department that specializes in diversity and inclusion.
Posted on 8/31/22 at 1:07 pm to frequent flyer
quote:
Huge allies in Europe have even more ridiculous green energy policies than we do, so we'll be shipping oil and natural gas to them this winter.
So I hope that means that Texas, Oklahoma, and south Louisiana might weather this recession better than others.
That's probably true. The upper gulf coast might be okay here if it doesn't last too long.
Posted on 8/31/22 at 1:08 pm to goofball
quote:
Remember, two consecutive quarters with negative GDP growth is no longer a recession.
We have changed that definition for reasons completely unrelated to mid term elections, our flat footed monetary policy at the Fed, and current leadership in Washington DC.
This has been a great two years span for changing definitions to fit Progressive failures.
First, we changed the medical definition of "vaccine", now this...
Another "win" for Biden voters.
Posted on 8/31/22 at 1:09 pm to member12
quote:
It's even worse in colleges/universities. The Ohio State spends something like $16 million a year for a department that specializes in diversity and inclusion.
Your tax dollars at work. At every, single, state institution.
Posted on 8/31/22 at 1:10 pm to dewster
Lets see if they cut their diversity departments
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