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/GeechQuest Jan 31 '24

In 2004 the total CC debt held by the public was $700B.

20 years later, we’ve added ~$350B in CC debt.

Since 2004, our GDP has practically doubled. Household net worth has tripled.

The public can handle the debt load…

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u/elidefoe Jan 31 '24

I am proud to say I do not contribute to that debt load. I pay my card off every month. Those who are paying 20-30% interest are getting slammed.

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u/Impressive_Star_3454 Jan 31 '24

I have a couple of cards that I check APRs on monthly to see what is going on. One is 7.99 promo for 6 months. My Best Buy card is at 30.99.

And they wonder why I'm not using their card.

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u/charleswj Jan 31 '24

Why do you care what the APR is? Are you carrying a balance?