UPS to slash 12,000 jobs in cost-saving move as workers ordered to be in office 5 days a week

Bidenomics, babay!!

 

Solid proof the end times are here. Good post. Let us know if a 7eleven closes somewhere as well.

 

This doesn't include the LA Times or Sports Illustrated.

 

And yet job growth under Biden is at record levels ... as in the best ever ... way better than Trump, who actually lost 3 million jobs in his 4 years ... It's amazing how the millions of jobs created over past 3 years offset these minor setbacks.

 

Layoffs happen. Companies right size and diwnsize to become more efficient. It's not a signal of economic conditions. Layoffs are generally a lagging indicator of a recession.

And we're not in a recession. Especially when there are 3 million more job openings than unemployed. And even with these layoffs, I don't expect unemployment numbers to rise significantly, if at all. Plenty of jobs, and the average length of someone unemployed is less than 3 months.

 

More jobs have been created under the Biden's first term than any 4-year term since records were kept ... and he's only 3 years in ... he's trouncing everyone and it's not even close.

More jobs have been created in his first 3 years than in the last 20 years, including Bush, Obama, and Trump combined.

 

I would hate for unemployment to become a massive scale problem this year.

 

Here's some headlines from just the last week to cheer you up!

No 'economic collapse': Top Citi strategist says healthier economic growth is coming (cnbc.com)
Bloomberg Evening Briefing: US Economy Booms Along Path to Soft Landing - Bloomberg
American Express CEO: Spending is strong, delinquencies down from 2019 (cnbc.com)
Weekly jobless claims post lowest reading since September 2022 (cnbc.com)
Consumer sentiment surges while inflation outlook dips, survey shows (cnbc.com)

 

UPS employees around 500,000 people. This is like 2% of their workforce

 

I've been following the tech layoffs and now it's like they're becoming used to it. You have companies like Salesforce whose profits are up 10% YOY and just announced more layoffs.

Discord has seen insane profit growth yet has decided to lay people off

 

Yeah, no biggie.

 

On an individual, micro level, it sucks. Been there. But let's see what all the numbers are. If job created are strong, and unemployment unchanged, then on a macro level, these layoffs mean nothing. Companies are right sizing for efficiency and profits, while those laid off are usually quickly landing on their feet.

When there are more unemployed than job openings, that's a problem. But that usually happens well after the recession starts.

 

Just a reminder the former president referred to 2019 as one of the best years in US economic history (he was in office at the time by the way).
2019 was one of the decade's worst years for job cuts in the US
At roughly the same time
Trump touts his economy as ‘the best it has ever been.’

 

Why do people always use "job cuts" and "lay-offs" interchangeably?

 

Covid lockdowns and the eventual reopen.
Economy juiced with Federal spending and ultra low rates.
Neither President could have done a thing to change those numbers man.

If HRC had been in the oval it would have been worse she would have tried to force the states that refused to shutdown to do so.

 

Not uncommon in the tech world when rates go up, harder to get seed money and new investors.

Many over hired for fear of not getting workers, they are now realizing they don’t need all the staff.

 

Two words: Covid Reopen

 

I'm referring to well established companies, not startups