https://www.reuters.com/technology/gemini-is-laying-off-10-staff-information-2023-01-23/ HYPERLINK has full article end snip Cryptocurrency exchange Gemini is slashing 10% of its headcount in what is at least the third round of layoffs in eight months, the Information reported on Monday, citing an internal message. end snip More folks hit the bricks. The beat continues with layoffs. Who here is noticing a trend with the economy?
Most of the layoffs trends are in the tech sector and in crypto. Sounds more like a course correction than something wrong with the economy. Tech hired too much in 2021/2022, and virtually everyone was predicting that the crypto bubble would burst. This isn't about the overall economy.
keep telling yourself that the economy is good. When you or loved ones lose their jobs, maybe you will awaken.
I've had plenty of friends lose jobs. I'm just capable of thinking about it objectively and look at the facts. Keep telling yourself that math is a lie.
what part of the math is the lie? Would that be 10% laid off at Gemini? Would it be the 3,900 laid off at IBM? Please educate us
Educating would involve you learning that those layoffs are industry-specific. Are you prepared to accept that reality or are you going to continue running away from that reality?
This time of the year, it really isn't terribly unusual for big corporations to conduct layoff's of between 5% - 15% of its headcount... and that's been true for decades! But, it's especially common in periods of economic turbulence, during recessions, and when the overall economy is in the 'doldrums'. Things are especially unsettled these days because ever since the Federal Reserve System central bank completely hijacked the U. S. economy in 2007, more and more of everything that business sectors do is based on 'market sentiment' rather than nuts-and-bolts considerations, like market-share and real (REAL) valuations!
There will surely be a 'spillover' effect into other sectors beyond tech, depending on how far and how deep the 'slow-down' becomes. Curiously, some areas within the tech 'sphere' may continue to do just fine, or even better -- particularly those involved in robotics, AI, and areas that can contribute directly to all other sectors' profitability by making it more and more possible to cut bottom-line costs associated with employee payrolls! . Best of all, "Robbie" doesn't have 'issues' or call in sick....
Gemini eliminating positions? Wow...When the Dems were in control, those people had a steady job outlook... NOW, that the GOP Took the House, about 10% of Gemini's headcount is being slashed! Thx Alot, McCarthy! The Economic DISASTER of GOP House Control Costing Jobs!
uh huh, will you comment on the thread about med equipment maker Philips and job cuts? Good grief. Enough with supporting all things Democrat. The USA economy is tanking and partisanship won't help. It's time for pro-business policies
So . . . yet another tech company? Didn't think that through, did you? The US economy isn't tanking, and your side's partisan approaches haven't helped.
