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Zero Cool's avatar

Here's perspective:

At the macroeconomic level, we do have a growing economy.

However, whether it be what I get in my LinkedIn newsfeed or reports I read, there are regular layoffs happening. They are mainly in tech companies, but not for reasons showing we're in a recession (we are not). It's because running business while companies can still grow has been made harder because of inflation. AI developments and tech companies are having to restructure and streamline operations all the time. Even large consulting companies (my industry) have had to deal with more than typical layoffs and that's in direct proportion due to the over investment during the pandemic. It's led to many complications.

Also, in 2024 it's become much harder to land a job quickly because of the fierce competition. It may differ from company to industry but I have heard many horror stories posted on LinkedIn about people taking longer than typical to get hired. Plenty of companies go through excessive rounds of interviews for candidates beyond what is typical.

The economy will likely cool down and get to a sense of normalcy once interest rates get lower but for now, it's still a complicated picture.

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benamery21's avatar

My (very large) employer is laying off, cutting benefits, and letting salaries slip.

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