Holy fuckballs. The economic illiteracy in this thread is shocking. We need civics and economics taught in highschool.
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Greed
...Searches for the word "union" in the article...
Yeah it's propaganda.
Tech is a cost center (in most cases) not a revenue center so despite us being an invaluable resource, IT jobs are generally the first cut when investors need to be paid
because capitalism is not about the workers, not about the quality of the product, and not about helping anyone. It doesn't give a shit about anyone except whichever monkey is on top, and would argue vehemently against the suggestion that it should.
I'd go so far as to say that what it IS about, is not being human. Perhaps it's about becoming a dragon? but even that implies some degree of personality. Capitalism is unrelenting, banal evil, for the sake of being evil, with an endless litany of specious lies to justify its utterly retarded bullshit.
I've always said capitalism and corporations are anti-social. They make society worse for profit.
"The stock market is booming". Fixed the first part of the title for you.
As for why all of the layoffs? Because in the short term it usually causes the quoted bit above.
- Companies value short term gains not long term projects
- COVID overhiring
- Salaries are too high for peons, they are trying to readjust
- Market is spooked due to the interest rates and SVB collapse
- New product offerings are not exciting consumers
- The belief AI developments can offer performance improvments
- The belief AI developments can weather regulatory scrutiny