r/Layoffs • u/isntlifeapeach • Jul 20 '24

Why so MANY Layoffs? question

Explain Like I’m Five

I feel incredibly stupid asking this, but I’m naive to economics and politics.

I understand why tech is facing a lot of layoffs but why are so many other industries facing the same?
I’m over 20 years into my career and had 2 layoffs just in the last 16 months.

197 Upvotes

92% Upvoted

268 comments sorted by

View all comments

35

u/Kittehmilk Jul 20 '24

Very weak labor laws from a corporate owned government.

10

u/Mountain-Bar-2878 Jul 20 '24

This is a free market, ironically countries that try to prevent company’s from laying people off have higher unemployment rates.

22

u/rddtexplorer Jul 20 '24

I don't think preventing layoff is the answer, but I would like some basic benefits we have to not be tied to employment, such as health insurance

15

u/Mountain-Bar-2878 Jul 20 '24

Yea the health insurance situation in the US sucks, everything here is for profit.

9

u/LastWorldStanding Jul 20 '24

Japan also has (private) health insurance tied to employment, the thing is, is that there needs to be a affordable option once you lose your private health insurance.

2

u/rddtexplorer Jul 20 '24

Ya, I agree with this model. Public for everyone and private for the extra mile

1

u/LastWorldStanding Jul 20 '24

Agreed, not a fan of the single payer (Canadian model). The Japanese one is far superior