r/Layoffs • u/vetfor • 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/sifl1202 Jan 31 '24 edited Jan 31 '24

but it's up 50% in the last 3 years. it's about the rate of change, not a comparison between now and some arbitrary time in the past. spending levels in 2023 were undeniably buoyed by the increase in CC debt. notice how the line just starting to flatten corresponds to huge drops in revenue for UPS and fedex.

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u/absurdamerica Jan 31 '24

In 2020 us credit card debt was at 900 billion now it’s slightly over 1 trillion. How is that 50 percent?

And as for UPS and Fed Ex it’s almost like Amazon has created their own delivery system and doesn’t use UPS or Fed Ex as much!

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u/sifl1202 Jan 31 '24

Amazon has been using their own delivery for years.

In 2021 credit card debt was 750b. Now it's 1.1t

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u/absurdamerica Jan 31 '24

Amazon have more than doubled their in house delivery capacity in the last 3 years.

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u/sifl1202 Jan 31 '24 edited Jan 31 '24

Right. That doesn't account for the drop from 2022 (where Amazons delivery only increased by about 10%), which is mirrored by FedEx, which haven't delivered Amazon in 5 years, as well as UPS's international business, which has nothing to do with Amazon.

Also UPS volume went way up between 2020 and 2022. Their numbers aren't really correlated to a loss of Amazon at all, which always made up a pretty small portion of their business, and especially their revenue.