Independent thinking for complex markets and current events
by Michael The layoffs are starting to come at a fast and furious pace now. At what point will the mainstream media finally admit that we are facing a major crisis? In recent days, I have been writing quite a bit about the alarming transition that the employment market is going through. There is a …
Just as in 2023, layoffs have hit the tech sector in 2024. Tech firms are continuing to streamline costs, improve efficiencies and respond to a cooling labor market. The U.S. unemployment rate is at 3.7%, according to the most recent jobs data, a near 50-year low. However, job gains have cooled in recent months. Employers …
by mark000 To believe in a global soft landing requires a mind to have “recency bias”, “confirmation bias”, “optimism bias” and “normalcy bias” knobs cranked up to 11. The backdrop right now is war: bad and getting worse, global financial system (banks and plumbing) with problems poised to burst, and a global economy on the …
Meta’s Instagram started off the new year by telling at least 60 workers their jobs were disappearing, sources told Business Insider. The change at the popular platform happened this week and affected technical program managers across the Instagram organization, according to two people familiar with the company and a post to Blind, an app popular …
Twitch, the livestreaming platform owned by Amazon, said on Wednesday that it was laying off hundreds of workers, the latest in a number of companies announcing cuts in their workforce this week. But experts tell Newsweek that the job losses do not signal that mass layoffs are set to hit the U.S. economy in the …
BREAKING: Blackrock will be laying off 600 employees, mostly from the ESG division. ESG global investments collapsed by $5 trillion in just 2 years. ESG is the system used by Blackrock and Vanguard to blackmail companies into adopting woke practices. Here is BlackRock CEO… pic.twitter.com/SHLOVQhvTs — End Wokeness (@EndWokeness) January 8, 2024 Wow – BlackRock …
by Michael We experienced a tremendous amount of economic turbulence in 2024, but at least the employment market was relatively stable. Unfortunately, that period of relative stability appears to be ending. The pace of layoffs really seemed to pick up steam at the end of 2023, and the outlook for the coming year is not …
by Lapuamies I can confirm Citibank is cutting people. I have a close friend down here in Tampa, FL who works mid-level at Citibank and was just recently transferred over to a brand “newly-created” position. Not sure where he falls in the pecking order, but judging off his home and comfortable lifestyle, I’d guess his …
via Yahoo: The media industry has been rocked this holiday season by news of newsroom layoffs as outlets downsize to combat volatility in advertising, after an already-brutal year of job cuts. In the last month alone, Condé Nast, G/O Media, Vice Media and Vox Media have all cut staff, most of whom already had layoffs …
The Teamsters union said on Saturday that 99 percent of its members had voted to authorize a strike at brewer Anheuser-Busch’s U.S. breweries. The union is seeking an agreement that would improve wages, protect jobs, and secure healthcare and retirement benefits for 5,000 of its members at 12 breweries operated by Anheuser-Busch, which makes Bud …
via Naturalnews: McDonald’s is going human-less in an effort to keep its top executives handsomely paid and its lower-level store employees, well, obsolete. In a recent press release, McDonald’s announced a new partnership with Google that will utilize the search engine giant’s artificial intelligence (AI) technology at McDonald’s franchise stores. With self-serve kiosks already plastered inside McDonald’s restaurants all …
via theblaze Stellantis, one of the Big Three automobile manufacturers, recently announced massive impending layoffs and pointed blame, in part, at California, Fox Business reported. The Jeep parent company stated that 2,455 employees who work at the Detroit Assembly Complex, where the Jeep Grand Cherokee is produced, may be impacted. Approximately 1,225 workers at its Toledo Assembly …
Wells Fargo warning ⚠️ about mass layoffs 😳 pic.twitter.com/IgQTsAGeVr — Win Smart, CFA (@WinfieldSmart) December 10, 2023 ‘More aggressive’ job cuts are coming to Wells Fargo, the bank’s CEO says Wells Fargo is planning to be “more aggressive” about layoffs at the bank, and expects to have higher severance costs in the fourth quarter than …
via stltoday GRANITE CITY — The last operating blast furnace at U.S. Steel’s plant in Granite City will remain idled indefinitely, the company said Tuesday, extending a closure first billed as temporary. The company on Tuesday also notified 600 additional employees that they might lose their jobs. U.S. Steel spokeswoman Amanda Malkowski, however, said the …
The Washington Post will pause ad spending on X because Elon Musk posted a Pizzagate meme. pic.twitter.com/ZAlv7kpZHB — Citizen Free Press (@CitizenFreePres) November 29, 2023 The Washington Post has been able to attain just half of the job reductions it needs to secure before the end of the year, the newspaper’s leadership said this week. …
The financial landscape is shifting as Barclays unveils a $1.25 billion cost-cutting plan with potential job cuts, contributing to a 26% share price drop under the current CEO. Deutsche Bank remains flat, while HSBC sees a 37% increase. The finance and tech sectors have witnessed over 20,000 job layoffs this year, challenging the traditional notion …
In 2023, major financial institutions such as Citigroup, Goldman Sachs, Farmers Insurance, Robinhood, Charles Schwab, Wells Fargo, Ally Financial, Morgan Stanley, Bank of Nova Scotia, and RBC have collectively announced layoffs, totaling more than 20,000 employees according to Forbes. These layoff announcements contribute to the ongoing struggles in the US banking sector, with bank stocks …
In the midst of a severe recession in the freight market, marked by an oversupply of trucks and a scarcity of freight, the logistics industry faces a wave of bankruptcies, closures, and layoffs, with notable companies like Yellow Corp. and Convoy being casualties. This downturn, contrary to some analysts’ expectations, is not a mere reversion …
AAPL gross cash drops to $162BN, lowest since 2014; Net cash dropped to $51BN. pic.twitter.com/w7dftMkttF — zerohedge (@zerohedge) November 2, 2023 China market is slowing down for Apple as their govt moves to a domestic model competitors. Big hit to Apple. — floridanow1 (@floridanow1) November 2, 2023
https://layoffs.fyi/ https://techcrunch.com/2023/10/27/tc-startups-weekly-10-27-23/
via CNBC: “The largest American banks have been quietly laying off workers all year — and some of the deepest cuts are yet to come. Even as the economy has surprised forecasters with its resilience, lenders have cut headcount or announced plans to do so, with the key exception being JPMorgan Chase , the biggest …
Tech companies have recently cut 400K+ jobs.. Tech companies have cut 400K+ jobs, and the competition is fierce. As the industry faces a reckoning, job seekers fight for a smaller number of positions. Read the full article here: 🔗 https://t.co/NbWyjT4d2i — WIRED (@WIRED) October 12, 2023 Nasdaq breadth hits new all time low. We have …
Over 100 Planned Parenthood employees were informed of job loss due to decreased demand.
BREAKING: Truist plans ‘sizable’ layoffs; target of cuts uncertain https://t.co/S94qKp2qzt — Financelot (@FinanceLancelot) September 11, 2023 Banks in the US just saw their biggest weekly deposit outflows since the collapse of SVB. Total bank deposits (on a seasonally-adjusted basis) plunged by $70 billion last week alone. This puts bank deposits at their lowest levels since …
As hundreds of Anheuser-Busch employees pack up their desks due to a company-wide layoff, one former executive of the company warned that more job losses may be coming. “Otherwise, you’ve seen hundreds of people laid off Anheuser-Busch, hundreds of people laid off at some of their suppliers, their glass suppliers, and unfortunately,” he cautioned, “thousands …
Starting to see massive layoffs in Pharma. Bristol Meyers Squibb just gutted their salesforce yesterday. Many others cutting too. Novartis etc. — QE Infinity (@StealthQE4) August 4, 2023 Yeah but access is way down post COVID. Sales forces are gonna shrink. Territories will increase in size. Too many reps in this new world. — QE …
There have now been 223,000 tech layoffs in 2023 and we are only 7 months in. That's 60,000 more tech layoffs than the entire year of 2022. pic.twitter.com/bcGE9hUdus — The Kobeissi Letter (@KobeissiLetter) July 30, 2023 "The Nasdaq is outperforming the Dow by more than 30% this year – the widest margin on record in …
