These lay offs feel less like companies responding to slow-downs in online ordering and more like a tacitly co-ordinated wage re-set scheme.
Many of these companies hired in a tight labor market. Now they look at those wages and don't want to keep paying that for 5 years.
Fire en-mass, try to manufacture lower wages for re-hires.
@futurebird To take that a step further, beyond "just" wage suppression...
it's been postulated that most of the folks who have stayed at Twitter are here on a visa and may get kicked out of the country if they quit without a new employer lined up.
This is unjust.
And all of the (profitable) companies who have frozen hiring and laid people off are complicit in it.
@theruss They hated "low unemployment" so much and have been whining about it for months. This is the attempt at "taking action" disgusting.
@futurebird Precisely.
Jerome Powell has been saying the quiet part out loud. "Get wages down, get inflation down".
No mention of corporate profits.
There is a deliberate effort to conflate price inflation, aka price gouging (mostly bad) and wage inflation, aka fair compensation (good), and it's going to cause a lot of human suffering.
This has been painfully obvious, you can't really get more obvious than saying it out loud over and over, but yet never seems to be a topic of conversation amongst all of the "gas and groceries prices" crowd. Outside of @mehdihasan is it ever even brought up in the news cycle?
@BE @futurebird @mehdihasan
@rbreich covers it regularly, though I don't think that counts as a "news cycle" in and of itself.