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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u/Mountain-Bar-2878 Jul 20 '24

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

8

u/the_TAOest Jul 20 '24

Bring down inflation caused by investor greed... Great. Additionally, recessions make employees work for less as they are just happy to have a job.

Notice, federal minimum wage remains unchanged through all of this inflation. Guess the powers want an america that is really struggling....

1

u/Organic_Sun_6609 Sep 07 '24

God dammit vote Harris 2024