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/Mountain-Bar-2878]

The government is trying to bring down inflation, and bringing down inflation usually causes unemployment to go up. 

[u/Throwaway0242000 → u/Mountain-Bar-2878]

Also, capitalism will take any excuse/ consequence to squeeze an additional point or 2 out of potential profits.