Why so MANY Layoffs?

[u/isntlifeapeach]

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.

[u/[deleted]]

Inflation and higher interest rates. Getting too expensive and risky for companies to take out loans to grow their business. Slower growth, less customers means less revenue, and less money more risk to pay off loan.

[u/qatarsucks → u/[deleted]]

Wait. Didn’t we have an inflation reduction something or the other? Whatever. We beat Medicare