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Despite Booming Economy And Record Profits Google, Amazon, Microsoft And More Lay Off Over 42,000 So Far In 2024 (finance.yahoo.com)

submitted 8 months ago by L4s@lemmy.world to c/technology@lemmy.world

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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

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[-] dangblingus@lemmy.dbzer0.com 22 points 8 months ago

The US economy is booming?

[-] june@lemmy.world 18 points 8 months ago

In every way that matters to corps, yes.

For the rest of us who are getting laid off, not so much.

[-] essteeyou@lemmy.world 9 points 8 months ago

Profitability is up, but that's partially because of the layoffs not despite them.

[-] BrightCandle@lemmy.world 5 points 8 months ago

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.

this post was submitted on 01 Mar 2024

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