Mass layoffs are plaguing more than just the Big Tech industry.
On Sunday, former Walmart CEO Bill Simon joined “Fox & Friends Weekend” to warn Americans of the detrimental impact that corporate layoffs could have on the U.S.’s feeble economy.
“It’s crazy right now. We’re stuck in this loop of wage inflation, product inflation and cost inflation. And it’s just that cycle keeps going. And I think, unfortunately, an inevitable byproduct of some of the Fed’s moves and as the necessary medicine we have to take to kind of cool things down and get the inflation back under control on some of these layoffs that are coming,” Simon told co-host Will Cain.
Although the labor market remains healthy and one of the few bright spots in the economy, there are signs that it is beginning to soften. In addition to a number of high-profile tech layoffs over the past month, the economy added 223,000 jobs in December, the smallest gain in two years.
Biden WANTS you to HURT !!!!!
Biden act soon? Are you kiddin me? You might as well plan on lay offs.