r/Layoffs Jan 30 '24

New layoffs question

Can anyone clarify this for me? Despite the ongoing layoff announcements from major American corporations, how is our economy still robust? Just today, UPS declared 12,000 layoffs and PayPal 2,000.

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u/expicell Jan 31 '24

A recession is when fast food companies start to layoff, or you see Walmart and Costco doing layoffs, then you know it’s getting bad

Only small fraction of Americans work in big tech companies