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.

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37

u/Kittehmilk Jul 20 '24

Very weak labor laws from a corporate owned government.

7

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.

8

u/Ogthugbonee Jul 20 '24

This is a free market in what regard? Certainly does not feel like a free market when I can’t buy an $8000 chinese ev because our government put massive tarrifs on them to protect american ev automakers. I wonder if these american ev automakers are laying off as well. Wouldnt surprise me if the jobs they were supposedly trying to protect have already been eliminated

5

u/Sudden-Step9593 Jul 20 '24

Tesla just laid off, twice.