Despite Booming Economy And Record Profits Google, Amazon, Microsoft And More Lay Off Over 42,000 So Far In 2024::Despite a booming U.S. economy and significant advancements in the tech sector, including a robust performance by companies like Nvidia Corp. and a thriving artificial intelligence (AI) industry, tech companies have continued to lay off workers at an alarming rate in 2024. The tech-heavy Nasdaq index has shown an impressive uptick and the U.S. economy added 353,000 jobs in January, outpacing economists’ forecasts. However, this overall economic strength masks a wave of layoffs in the tech sector
Don’t forget they pay little to no taxes and even some are getting money for negative tax. We pay something like 154 billion to those top companies, according to another article I read on Lemmy today.
Removed by mod
The US economy is booming?
In every way that matters to corps, yes.
For the rest of us who are getting laid off, not so much.
Profitability is up, but that’s partially because of the layoffs not despite them.
GDP is doing just fine, its just that there is a class warfare where wages are being suppressed significantly by corporations with State help and so most people are getting poorer as the wealthiest get richer faster than ever before.
What‘s the point of not regulating them when they don‘t create new jobs? I mean putting congressmen self interest aside, they should be broken up. No point in keeping them together.
Maybe it’s due to over hiring, maybe due to the fact that some those people had jobs that were replaced by AI bots, it does not really matter, right now the market is fucked and good luck finding a job if you were laid off.
