Half of US companies gearing up for layoffs, survey suggests
submitted 1 year ago by [deleted] from (nypost.com)
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[–]magnora7 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - 1 year ago (0 children)
The fed just raised rates so money is harder to get for the big banks, which means all these companies that are surviving on cheap loans are not going to survive when the loans become expensive (due to much higher interest rates). This is what is happening across every industry. In many nations simultaneously too, a lot of central banks are now having to raise rates to counteract the massive inflation caused by all the two years of "emergency" covid stimulus printing.
This will thin the herd of businesses, but it will also make food costs and etc stop inflating so fast (hopefully). Inflation is way out of control just like in the 1980s (because that's what happens when you print like 60% of it in just two years) so now they're raising interest rates to make money harder to get to counteract inflation. Every company and person surviving solely on cheap debt, or who has an adjustable rate mortgage, is going to be in trouble in the coming months and years as this all gets sorted out.
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[–]magnora7 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 0 fun3 insightful - 1 fun - (0 children)