Several major U.S. companies announce layoffs, office mandates
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- Опубліковано 29 січ 2024
- The nation's unemployment rate is low, but some big companies are laying off workers and requiring people to return to the office. Guy Berger, director of economic research at the Burning Glass Institute, joins CBS News to assess the state of the labor market.
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Employees are not hard to find . Employees willing to work for peanuts are hard to find
Here in Russia they say this - they don’t have enough highly qualified, low-paid employees
With the continuing lay-offs, and unemployment limited, people will have to take jobs they don't necessarily want. Supply/Demand.
Economy? Who cares when we have to deal with blatant criminality in charge
Outsourcing. Many extremely poor people overseas will be more than happy to take the jobs. Also, AI...
@@strongbad2016 dealing with them is a huge headache so bigger companies can't take advantage of this but the small ones and the cheapskates will
No one ever mentions our disappearing middle class. If you don't invest in it, we won't have one.😮
Without the middle class the rich and the poor have nobody to exploit- fact !
@@Gogalen789They dont really care, they would just exploit each other.
No one cares only the strongest survive
no one except RFK JR.
Middle class has been gone for a long time. Its the haves and the have nots.
Why can't the executives take a pay cut and benefits cut?
👀 Would you take a pay cut of any kind? Remember: income is “relative”.
Companies should take note from Nintendo, when Nintendo CEO Satoru iwata was alive, he took a pay cut to prevent laying people off at Nintendo as he believed that the employees were a long-term investment for the success of Nintendo.
Because I am one.
I mean their stocks are tanking and that’s basically their entire compensation.
@@Ravi-rl8tt No, investors don’t cash out that quickly-just because the market takes a turn.
🤔 It’s not their ‘entire’ compensation-who told you that!? Stocks are BONUS / retirement funds & are completely irrelevant of the company employee count.
This is why if another pandemic come we have to carefully think if is worth helping companies. They are making record profits and the hard working people are taking the hit.
Gross or net?
Just stop it with the Covid stuff no one cares anymore about wearing a mask
The masses should be happy for trickle down crumbs.
@@ViceCoin imagine still believing Reagan's BS
HACHETER DANS LES MAGASINS, TOUT EST MANIPULE POUR RUINER LES PEUPLES. HACHETER DANS LES MAGASINS
My job is so bad they don’t dare lay anyone off because no one else will take the position. Job security 🎉
What do you do?
🙈🙉🙊
Just gonna leave us hanging?? What do you do?
My job is always secure and if they did lay me off I would have to be the last person laid off lol
@@minjikim2161
I’ve heard of some pretty incredibly awful jobs. There’s usually SOMEONE crazy enough to fill it, especially if it pays well.
Edit:whoops I’m half asleep, meant to respond to OP
WFH is not a benefit. People are hired to do Jobs. If business commitments/objectives are being met or EXCEEDED, why would an employer care if the employee is sitting on their sofa or commuting over an hour to sit in a depressing, open office space, with no privacy, having to ignore a co-worker sitting 5 feet away on a conference call?
Office is work is an old paradigm rooted in employer mistrust and management control/insecurity.
Because they get off on it. Just like greed is short-sighted and self-defeating, so are office mandates. It's time for us to let go of this quasi-religious myth that corporations and their officers are rational actors. They are _not._
They need to ensure you do busy work all day as punishment for not growing the company.
Its about domination and control
Hybrid work ? Try showing up to a job where you actually produce something tangible. Shuffling papers is a job waiting for a pink slip. IK, factories lay off too.
@normlang1994 - That you do not understand why, makes you even more expendable.
The company I work for is letting people go this month till July. It is part of their business strategy and transition, they want to have a higher profit this year. Corporate greed screws the average employees.
First of all, this whole economic chaos was powered by optimism that the FED is done with hiking interest rates. Now that interest rate crash is the situation, where do we go from here? How would you advise I safely allocate $250k funds at this point?
The market is volatile at this time, But doesn't the Federal Reserve's monetary policy and low interest rates contribute to the current valuations? hence I will advice you get yourself a financial advisor that can provide you with entry and exit points on the share/ETF you focus on.
Agreed, my portfolio is well-matched for every market season yielding 85% from early last year to date. I and my CFP are working on a 7 figure ballpark goal, tho this could take another year. IMO, financial advisors are the most sought-after professionals after doctors.
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
Bro says economy is great, but also that its not a great time to be looking for a job
Have a family member who’s worked 40 years in tech but can’t find a job
@@MohammadAliKhalil Hope they'll be able to find something soon. There have been hundreds of thousands of layoffs in tech, and no one knows (besides the executives) when it'll even out.
Yes, including the decrease in quality of products or smaller portions and still charge the same price (or more) for those products.
U rate is 30%
For the record, that's happened in all of history. You should have seen the large pizzas and boxes of cereal we could get when I was a kid 50 years ago
Things will not get better until people actually take a stand and stop buying that garbage. The dollar is the most powerful voting tool in this country and yet people still throw them around mindlessly with no regard to whether what they're getting in return is actually worth it.
Forcing people back in the office is simply about power and control, cynicism and a lack of understanding. Either that or it’s about commercial real estate values or trying to force people to spend money on nearby restaurants. It has nothing to do with productivity. I’m actually more productive and don’t mind working longer hours when I’m working from home. It’s also far less stressful.
I think it's both really, but probably more so on the commercial real eatate
I own a smaller IT security company and I have been allowing fully remote work since 2012. Less office space to rent, less overhead, and I can hire employees all over the US, not just in my area. Makes so much more sense than renting 3000 square feet of office space, paying maintenance , etc.
It's also a quiet way to lay people off without laying them off. The idea is that a good chunk of employees will simply quit instead of come back to the office.
They are doing it to try and get people to quit to minimize layoffs
Noone is forcing you to stay at the job, just get a different one or go back Luke the rest of us. You are not special.
The economy is very bad. Lots of layoffs. I know lots of people that got laid off just before Christmas and are still unemployed in the new year. A lot of people got laid off from a major internet company. Most of my friends that are working have work at home jobs. They love those jobs. They tell me they will never go back to the office. They will quit if asked to return to the office. I can't blame them. I'm just glad that I'm retired and no longer have to face those kinds of decisions.
The fact that so many democratic citizens see this as "the economy" - just another force of nature, and not a human institution that we have failed to properly regulate - is one of the great success stories of right-wing brainwashing.
Me too, i retired young, retirement will soon be a thing of the past. Congrats on your retirement.
@@silverblue9286 Mind if I ask what you did that allowed you to retire early?
What they say and what they actually do will differ. It's not a good time to be unemployment and looking. They will as bold as their options allow them.
Christmas was only 5 weeks ago, and then the holiday extended two weeks after that.
Many companies don't even know what their budget is like because they're trying to make their books sound great for those finance calls in March.
The other ones are busy telling employees we need to do more with less like that's any different from any year
I don't see how you can say inflation is going down. Just about everything I buy has gone up.
They like to say stuff more than do stuff
Think of inflation as the “rate” of price increases versus the current or absolute price. To use a car analogy, inflation is the rate of a car’s acceleration (0 to 60mph in 5secs) vs a car’s current speed of 30mph. So you are correct, many things are still more expensive than ever but the “rate” at which those prices increase has slowed. Many things are now taking 10secs to increase from 0 to 60mph vs 5secs. Price inflation is normal. Most things cost more than they did 5 or 10 years ago. The challenge is to have a job or career that keeps up with that inflation. The govt target being around 2-3% inflation per year so we need at least that in wage increases. Hope this helps.
Might want to look up how inflation is measured
@@Pete.across.the.street might want to look up exactly what we’re paying for
@@Soggygr I'm paying for gasoline
forcing people back into office is a good way of making them resign by themselves and saves headache for the company!
People arent resigning bloated companies are firing people. You clowns just make things up without doing any fact checking
Well, when all the companies is forcing people back into the office. Then the people will have to follow because they couldn’t find any remote jobs no more lol the power is on the companies side now, not the employees anymore. They don’t care if you want to come into the office or not. You either come in or you don’t work here.
No one is forcing people back in. If an employee doesn’t like the terms of work, they are free to go find another position that is better suited to them. It’s a two-way street. The best thing would be for employees to maybe negotiate some extra money to cover for things like parking, commute time, gasoline, etc.
Agreed!
When the market rewards you for firing people instead of making strong products and a future facing business, then you fire people. Market needs to stop rewarding companies for doing this, because execs are solely driven by the share price
The wall street investors demanding layoffs are evil and the biggest problem with keeping valuable employees and intelligence capital.
They also get tax breaks for their buildings they force people to come into work. I have a hunch they have to have numbers at work to get their stupid tax breaks.
I always assumed that this happens post holiday season.
We won't have this problem if the government don't keep stealing from social security and force everyone to rely on stock market for their retirement
have YOU looked at the tags of Made in ... of everything on your back. AND that is/was the plan to "Feed Americans communism by any name a little at a time" Good jobs out to add to other countries, while their haters of us pour in, look at the names in the dem party and the policies they have always put forth. 6+ decades of chip chip chip GONE.
Just to increase their bonuses
AND raises!
Unmentioned in this video:
Greedflation, companies keep prices high even though cost of production has gone down to increase profit margins.
Inflation going down just means the US dollar is losing value more slowly.
AI is deleting jobs faster than people think, especially in tech.
AI isn't deleting tech jobs it's deleting generic office jobs
@@OG_Trolltech is generic office job nowadays
@@alexanderkachur9014 I work in tech as a data scientist 😂 AI isn't replacing anyone who's already in the industry, but it does make us more efficient. AI writes awful code sometimes. The jobs replaced will be data entry, assistants, middle management, some HR roles with chat bots. Smaller value add people positions.
@@OG_Troll Anecdotal fallacy and you contradicted yourself blatantly.
"AI isn't replacing anyone who's already in the industry" and "The jobs replaced will be data entry, assistants, middle management, some HR roles"
@@OG_Troll when AI makes you more efficient - it decreases value of your colleagues, cause now you can do their work as well. So your manager fires them and demands more work from you. That’s exactly what happens
I fail to understand why management salaries have not been greatly reduced. Most of the narcissistic upper managers I have seen blow a lot of hot air and are about 70 percent useless.
Nothing to see here, the economy is flourishing!
Joey told me
Bidenomics 😂 Trump 2024! MAGA! 🇺🇸🇵🇷
Vote for Biden 2024
This is capitalism at its best. Please tell us how Joe runs UPS and Amazon. I’d like to hear this story.
@arios1977 is a president able to save an economy if it is doing poorly?
Finding and keeping a job is just another vicissitude in this new weird dystopian era.
Soylent Green (the movie) becomes a primer on what they expect and plan for.
Yep... the corporate America 🇺🇸 hamster 🐹 wheel 🛞 in this debt driven overly inflated monstrosity of an economy.
I can't wait✋🏻to retire. Cheers 🍻! 😳
Oh no...
Now what will I do???
@@alphaomega1351 Good for you but apparently for most of us we will have to work well into our retirement years
Remember that at the end of the day, we are still in the masses.
Thank you to our financial overloads for bringing us back to our beloved cubicle farm😅
Plenty of production jobs open since you have such disdain for working at a desk. Or trade jobs you get to work outside in all kinds of weather.
Try roofing... you stay in shape and enjoy the outdoors all at once!!
@@Shadowbanned4LyfeOnly the individual contributora work at a desk while rank runs around in luxory. Its hamsters on wheels, when those production and trade jobs provide pay equality to office workers there will be mass exodus and the economy will flip. upside down.
@@edpeterson2293 😂
Last gasp of a dieing power structure.
What a coincidence, tomorrow Fed is speaking and today UPS decided to layoff a big chunk of people
Notice how they keep making laws forbidding stuff related to basic human survival needs like…illegal to catch rain water or have a effective self defense gun or giving millions of people dangerous vaccines and lying about the serious risks and outlawing natural gas and coal and wood burning pizza ovens and stop construction of a pipeline from Alaska that we desperately need and wasting billions already spent on the project and drilling for oil overseas and you have to say retarted things like “boom stick…the cough cough…and unalived…eggs are three bucks a dozen and they tell us inflation is down lol…good freaking luck people
almost like someone at UPS knows what the fed is planning.
hope paul got his stocks sold
Such decisions do not happen over night. It was already set in stone before you said merry christmas.
at my job, 50% of the staff was fired, they ones that stayed are being asked to do at least double the work and take a payment reduction of 40%, at this point it makes sense to take disability and move to another country.
If their mouths are moving, they’re lying. smh
All of these companies seem proud they are treating their employees like dirt and laying off a ton of them. As a shareholder that tells their company is not doing well and makes poor decisions, you hire the right number of employees so that you don’t have to immediately do lay offs, lay offs are failed investments in training. As an investor it’s a troubling thing to see out of that management.
It’s really not that simple
@@JJJohnson441 it’s really not that hard if the management understood macro-economics a bunch of them hired like crazy in 2022/2021 only to fire shortly afterwards. It was clear the Fed’s actions were unprecedented when they lowered rates so drastically and that they would have to shortly afterwards raise rates substantially. Well managed companies hired a normal amount of employees in each year allowing them to not fire right now and in fact hire when employment compensation and negotiating power is weaker. The management teams i am complaining about paid record high compensation for new employees during 2021/2022 a bunch of which was in bonuses or recruitment fees only to lay them off 6-24 months later and have hiring freezes during the best time to pick up good talent. So ya it’s that simple it’s poor planning or poor understanding of Fed policy.
@@SeanPannella Nope. It sounds like you work a minimum wage job.
@@JJJohnson441 “In fact, let’s do this, I’ll tell you how much I’m worth, you tell me how much you’re worth.”
The labor rate is skewed and misreported.
Honestly in what ways ?
@@frazier2420able
If someone is umemployed for a certain period of time, they are no longer considered part of the work force all while still collecting government assistance, so that's one way it's skewed.
@@JeikuAnimeReview what about skewed in the fact that after unemployment runs out they are no longer counted as unemployed on the federal records, also no Govt, political leadership wants to ever announce a serious downturn in employment, instead of having to fix any problem, just deny it and let the wrong federal numbers mysteriously hang about.
@@brianblithe2271
I literally just said that...
@@JeikuAnimeReview I just clicked on last comment reply to add my comment, mine is more in depth and i thank you for your thanks of my true caring as well as I appreciate your more intelligent than most comment, as well.
I got a “below expectations” at work despite working very hard and long and going to the office everyday. So this year, I am only remote with minimal effort and no expectations on my end. No promotion, no pay increase? No problem but keep your expectations low.
The thing is when you have a small middle class or no middle class, you have a good chance for real deal riots or revolutions to happen.
This is what america needs nowadays, but I understand most people cant afford to take even one day off of work to riot in millions. whats the population size in america? likd 300 something million... pretty much split down the middle polictics wise. so itl be very hard to get anybody to riot or revolt. This is what we get when we let our goverment turn family against family, and neighbor against neighbor.
And when you do everything to wreck your education system you have an easily manipulated mass of easily agitated people. Even the people that control them will be in dangerous positions once unrealistic demands cant be met.
People in the US will never revolt because they have their TikTok, designer sneakers, iPhones, games, on-demand TV/movies. Rampant consumerism makes sure of this.
Greed will never end
And that's a VERY good thing. Greed is what drives progress. Without greed we would still be living in caves, eating small animals raw.
@@hkgamma I’d rather live in a cave than work in an office
moved to Asia 18 yrs. ago. seems like it was a good move.
Yep
The US is collapsing more and more each year...
@@hansonel China found out tofu lacks structural integrity like their economy.
I wonder if it matters that the jobs being lossed are high paying, and the 9M available jobs are 20hrs a week minimum wage?🤔
n u know what minimum wage is here in Dallas- there was atleast one job that told me 6$ with great pride.
Lowe's corporate recently had layoffs
Amazon is getting ready for major cuts, volume is down, so remind me again how great the economy is.
Yup amazon is the only part of the economy 🙄
@Pete.across.the.street If Amazon is hurting, do you belive all other businesses are doing great? They're a bellwether company
Yeah people went back to shopping at stores.
@@SafeEffective-ls2pl Duh. Shopping on Amazon is boring especially when you can go out and get whatever it is you need within minutes no extra costs.
@@Beantastrophe Amazon is far from boring, that’s where you get the most variety. I almost exclusively shop on Amazon, every time I go into a store in the last couple years, they don’t have the inventory. They keep the very bare minimum of a products that the mass population wants. I have no interest in that. And I live in Florida, in a major city And ,Amazon not doing good is a huge sign, because honestly I haven’t been shopping there much in the last year. Nobody wants to go out and shop in stores anymore also because, it’s also dangerous. Here in the United States of America you don’t know if you’re gonna make it home from a grocery store trip without getting shot.
If the economy is so strong, how come so much layoffs ? the Governement is sugar coating the economic numbers.
Exactly. Tech has already had hundreds of thousands of layoffs and they're still going forward with more layoffs. A lot of the jobs that are being lost are decently paid jobs ($60k+), and the jobs that are growing are in hospitality, service, and...government. If the economy was great, people would be able to buy houses and that market is frozen right now.
Duh
US need European style labor protections. There are companies with record profit making layoffs for the sake of pleasing investors. Layoff have huge impact on people expecially on visas. Most states doesn't even mandate severance pay. There should be higher barrier to mass layoffs and encourage more responsible hiring and less risk taking.
unemployment is NOT 3.7, unless you're drinking Kool-aid.
Here comes the bankruptcies, the crash!
Buckle up, it’s going to get bumpy.
Yes, let's force everyone to come back and be part of the revolving sicknesses that spread at work
Exactly,I was working the office and suffered the flu and COVID, my coworkers one by one got sick
The worst part is that this situation is permanent at this point.
@Mollyy606 how many of them got multiple shots??? They killed their immune system
The more layoffs ……the higher the stock price goes up.
Stock prices up suggest that USD worth less and a big money trying avoid holding dollars
I just thought I would mention that we just went to Red Lobster. The lobster dream is now 45 dollars. As you could imagine there was no wait to be seated
In my neck of the woods, the lobster dream is $54 plus tax plus tip! I don’t order it anymore.
Anyone that can afford a $50 lobster meal obviously has no financial issues, and does not need any social support benefits.
What is the lobster dream??
Sometimes you gotta treat yo' self, even when broke or in severe debt!! @@DistrustHumanz
@@Zorbino88and that’s why millions of people are in debt and living paycheck to paycheck. Everyone wants to treat themselves even when they’re broke. How about don’t treat yourself for 6months to a year and see how much money you can save for an emergency fund? Peace of mind is priceless.
Man that sucks I feel the pain times are so hard right now!
I’m currently working @ Bass Pro Shops, and recently we’ve been hiring like crazy but it’s crazy how other companies are furloughing like crazy!
Hold up a second , I thought this was the strongest economy of all time 🤔
Mr. Magoo says it is..
Sadly, no
Office means CONTROL
We keep hearing that the economy is great and unemployment is at a record low. Google is in their 4th round of layoffs in the past 2-1/2 years, Target has been closing stores, so has Macy's, even Pizza Hut. And now UPS? Somebody is playing with the numbers and we're being lied to.
The problem with these layoffs at UPS, Wayfair, Amazon and other big companies is that the people that are getting let go are mostly higher paying, well to do positions.
What happens when all the high paying positions are eliminated or severely reduced over time? It basically means that those people that were used to making six figures, will be forced to take on a job that they won’t like nor pay anywhere near what they were making previously due to the intense competition in the labor market for those higher paying positions.
That means taking a big hit to their lifestyle and possibly meaning losing their houses. So this news is not good at all. It will also mean more lower quality jobs are up for grabs and more and more of these upper middle class folks will be forced into either the middle class or poor class living, not good for Americans at all. The labor market is seriously detracting, as the unemployment rate is a freaking joke.
The folks that had those jobs were not qualified to do them
Exactly. And the 300k jobs created in January (which will be revised to less than $150K when no one's looking in 3 months) are $12-15 / hour jobs.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
Evelyn Alicia Schoenholtz' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Employees will be laid off to increase profits, which will then be used on stock buybacks and a hefty raise for the CEO. Same as it ever was.
From 2020 to now, a $100 item now costs about $135-$145.
When these pundits mention inflation, they do not look at year over year costs.
If inflation was 5% last month and it's 2% this month, prices still went up 5% and 2%. If something was $100, it goes $105 then $107.10.
Yeah Bring in Federaly mandated Price control 🛂 Also Enforced Compliance ! Full 🌝 stop 🛑! By our Government!
The Bidet Admin and MSM are mathematically challenged for sure. And their minions eat up everything they feed them. Lol
I noticed that traffic has gotten crazy in the last month...now I know why
So much for reducing the carbon footprint and climate control 😂. What is the next excuse for these large corporations.
@@ziasun1094 exactly!
These actions may be signs that some or all of these companies are suffering from poor management. Given that other companies in these sectors are thriving, that is the only real difference among them. Executives wanting larger salaries as they layoff workers and close locations are an example of poor management. Another example is executives seeking government favors to help them cover up their mistakes. Many executives are quick to blame employees for the bad policies they make and implement rather than attempt to correct their own failures. The flourishing economy is bringing to light just how many companies are poorly managed.
Huh?? Look at the comp packages of the companies making money.
I work for a federally supported transit company. Instead of offering overtime opportunities they over hire so they don’t have to pay overtime rate. Also no one is going back to the office the way we used to
So they either force you to work overtime, or they hire additional people so you don't have to work overtime. I'm not sure if you're aware, but many people do not want to be forced to work overtime.
@@intermediate212 overtime helps against inflation
@@ryandarko2115 I don't think the average American would want to work forced overtime for the sake of inflation.
They keep saying it's all good but it doesn't seem like it at all
Many companies are by passing college grads as they discover that too many have been poorly trained in today's markets. This is one of the main reasons that companies are recruiting more foreign workers.
Wait
Why feel sorry for your boss or manager if they are always threatening to fire you ?
Plus they humiliate you on purpose to show you their power.
You do all the work, and they take all the credit !
The people that do all the work other ones with the most answers when it comes to getting promoted
The layoffs are small if you are not affected.
When a company has 4 managers follow one driver in one day. Blame the managers for excessive waste.
synthetic layoffs to slowdown the economy, mostly impacting middle management those that all day asking workers what is the ETA? in addition lot of startup up companies that did noting makes nothing , investors are dropping them as they can not pay employees .
Dear American tech workers, I HIGHLY recommend to start looking for international opportunities. The job stability in the US is just not worth it anymore. Look to Canada, AU, EU, or England. Forget about working in the US anymore. Just not worth it
Most of the places that you mentioned have pretty bad housing markets as well. Maybe people need to diversify beyond tech.
Not a bad idea I heard the same. Given the tax is around 40% for high tech earners anyways.
@Wong-Jack-Man And at least overseas you don't have to worry about health insurance since your taxes are already funding it by default
@@Wong-Jack-Mantax is 40% for anyone earning in that high bracket- healthcare, pharma, finance, tech etc
Damn, I just started work at Amazon. Better call Saul.
Working from home ruined the workforce. Once people got a taste of it they don’t want to go back to the office. The reality is that there is a very small percentage of people who can actually work from home and be productive.
I can't believe how blind the WFH people are about their long-term future. If their job is easy enough to do remotely, then it's also probably easily done by someone in a cheaper location or by AI. I've worked for larger companies long enough to know the owners/shareholders profit comes first and employees are always dead last. Widespread WFH is still relatively new and it hasn't been "optimized" yet.
@@ChiselMouse My CPA told me that some of these people have 2 or 3 jobs working from home. That brings a whole new meaning to the term side hustle although the hustle part still applies!
@@ChiselMouseAgreed
@@comp.eng.student2055yea really, people are actually more productive remotely since the workplaces have evolved into a social cess pool. I can get much done without being bothered to constantly train someone on something they should already know
Good luck to these companies trying to bring employees back to the office. LOL
The immigrants we'll do them lol.
It's already starting to happen lol those workers are getting replaced by overseas remote workers using AI. All my comp sci friends can't get jobs regardless of how much leet code and studying they do
They won this round. Remote work almost disappeared. Hopefully when the economy improves they'll chill the F out and employees have more say. I also hope that the govt. puts more worker friendly laws in place, but I'm not holding my breath on that one
@@James-eq8cqAnd they have college debt they’re paying for. The Trades are usually a better choice then a computer job pushing paper.
Working from home wasn't an option for those who keep this country operating.
Yep. Im a truck driver of almost 30 years. Not an option for me to stay home during the pandemic.
Why don't those who want to work from home work for companies that welcome such workers instead of the companies firing such workers?
Inflation hasn’t come down
So productivity explodes, worker pay stagnates, and ceo pay explodes. Interesting. I say we go back to the 50s and 60s and tax the rich 90%, and give the productivity gains to the people being actually productive. We had good policy before, we called it the golden age of capitalism, and then we had some oil issues in the 70s and Reagan came in and convinced the young boomer generation that unions and regulations that protect people were bad. Thats when worker pay starts to stagnate and mergers start to explode. Give me the Roosevelt era again please.
So the layoffs are no big deal. But yet he said it's not a good time to be looking for a job. So what are these people supposed to do, that have lost they're job's. When these so called experts talk, they always talk themselves into a corner.
They have to get those rookie layoff numbers way up, this next crash is going to be 08, on steroids. Get ready people!
Wow it just goes to show you that these companies have such major influences that they can tell you to stay home and work and then they can tell you you're going to come back and work. Just sad for all the people that are thinking that work from home is going to be a future
In my opinion, many of these people developed an entitled attitude about working from home. I have noticed that I am getting poor customer service from people who are working from home. They are very distracted.
@@genxx2724 I think thats a bit of a generalization. It could be that. Or it could also be the fact that companies are working their workers to the bone. You can bet that the unfortunate people affected by these lay offs are having the work stacked onto current staff with no extra pay.
When a company is paying workers salaries they have to be more concerned about productivity as opposed to workers that are paid on a commission only basis without any benefits package thus the consequential reeling in of workers to the office for accountability, and so forth and so on.
Yeah the company you work for has the power to tell you how they want the job done...that's kinda how it works. You just figuring that out?
@@spankyssurprise1361 It took me a lesson from a company. I was hired at a certain location and then all of a sudden they told me im relocated to a different location. But I specifically applied for that location. Of course they said that my contract I signed with them stated that they could do with me what they want. I left that job. Moral of the story: These companies are going to exploit you any what they can. Its time for a reset.
Why Biden Administration keep telling us how great the economy is? All lies 😂😂😂😂
No job is safe...economy is about to go into depression
When our office announced that they were mandating that everyone return to the office was the day that I decided to resign.
Haven't regretted it in the least.
Bet your skills were not needed
2% is called deadwood layoff. These are conducted opportunistically. That is, CEO sees companies laying off, it is time to get rid of deadwood.
F these insecure CEO’s demanding/forcing RTOffice policies. Seriously gross.
The people laid off this month aren't in the statistics yet
Remote workers should have to live in San Francisco metro to make silicon valley wages. Remote work employees drive up prices in other states.
I heard that the new applicants for UPS wanted to be drivers but they also wanted to work from home?
Asked HR is it possible to deliver packages from home?
This has greed written all over it. Layoff then rehire for less pay & benefits, give existing employees more work with pay cuts.
Many office jobs can be done remotely. His use of words of remote working as a "benefit" or being "generous" is propaganda. I know someone who works for a company that has IT staff (except for Operations that has physical need to be on-site) work remotely for last 3 plus years & there is absolutely no reason to require them to return. It's a step backwards to disallow remote working.
Good jobs going away, crappy jobs taking their place
Lol what happened to the four-day workweek talk?
Employees quitting. Unacceptable work place gross.
Forcing workers who can and have successfully completed their work remotely back into the office is a sign of a failing, outdated company. It’s an outdated model that won’t be tolerated in coming years. People will choose to live smaller and make less over higher pay and working in office
Crossing their fingers..uh oh its bad . I bet most being laid off are the ones refusing to go back to the office .
No better way for companies to accelerate their brain drain and flush their productivity and profitability down the tubes than to demand return to office. The best people will give the middle finger and move on to better-managed businesses.
Yep that's what I'm doing.
Wait a minute, i thought UPS increased salaries. Now they are laying people off?
People should work in person.
Anyone that blames one party or the other is a sheep.
#Bidenomics
Agreed.
Economy was great under the four years Trump was in office. Inflation was very low, too.
They need buy in for people to go to the office. So far everyone that can will leave for a WFH role.
Companies are reporting record profits, yet those same companies are laying off ridiculous amounts of people, arguing they "overhired" during the post-pandemic period. But numbers don't add up. They are simply squeezing the most of remaining employees.
This only contributes to wealth inequality, this is not resource optimization, this is only overworking of employed people to maximize profits.
UPS can’t afford to pay all of them that increase
Companies, or should I say the execs running them, need to focus on the quality of their employees' work product and not where they were when they produced it.
There's a Recession every 9th year of every Decade! 1929, 1939, ........1969, 1979, 1989, 1999, 2009, .......2019 was delayed and then Pandemic struck
Aided by Government Bailouts, Stimulus Checks on top of Stimulus Checks, PPE, PPP, Rent Eviction Moratorium, Foreclosure Moratorium, etc.......
✌✌
🎯
It’s just a lazy work from home people
Why is everybody getting layed off?
The "numbers" are seriously not accurate. Dont forget state propaganda is real in america too
Inflation has gone down? Wtf is this guy smoking.
I heard that major league sports teams are petitioning to WFH
Corporate elite want more $$ then can use in thrre life time..
Unionize ✊
Be wise Unionize
20 million layoffs is a small number?
😂 Yes , because in India 🇮🇳 1.5 billion people... CBS News from Delhi