51–60 of 308 posts
Did these companies accelerate planned layoffs because they figure Twitter layoffs on Friday would help take the spotlight off of them?
I think once the layoffs started companies began to follow suit. There's a serious herd mentality that's hard to avoid.
Earlier quoted context omitted.
I gave you direct quotes from Powell's September Press Conference. https://www.federalreserve.gov/mediacenter/files/FOMCprescon... He goes on to say that supply and demand for workers needs to be brought into balance. The goal of raising interest rates is to reduce demand for labor. He says that directly. This isn't a conspiracy theory.
> goal of raising interest rates is to reduce demand for labor. He says that directly None of your quotes say that.
> The labor market continues to be out of balance, with demand for workers substantially exceeding the supply of available workers. The labor force participation rate showed a welcome uptick in August but is little changed since the beginning of the year. FOMC participants expect supply and demand conditions in the labor market to come into better balance over time, easing the upward pressure on wages and prices. The median projection in the SEP for the unemployment rate rises to 4.4 percent at the end of next year, ½ percentage point higher than in the June projections
He's expecting the act of raising interest rates to increase unemployment to 4.4%. He's doing this to bring balance to supply and demand for labor, to ease upward pressure on prices.
He is also asked directly when he will know when to stop:
> So I will answer—I will answer your question directly, but I want to start here today by saying that my main message has not changed at all since Jackson Hole. The FOMC is strongly resolved to bring inflation down to 2 percent, and we will keep at it until the job is done. So the way we’re thinking about this is, the overarching focus of the Committee is getting inflation back down to 2 percent. To accomplish that, we think we’ll need to do two things, in particular: to achieve a period of growth below trend; and also some softening in labor market conditions to foster a better balance between demand and supply in the labor market.
He directly says he's waiting to see softening of the labor market before stopping the rate hikes.
Ask HN: Isn't recession just mass hysteria ? Layoffs leading to more layoffs leading to the entire economy slowing down ?
What recession? We are not in a recession. Unemployment data and the broader economy are still strong. Saying otherwise is dangerous, to be honest
Earlier quoted context omitted.
All these companies have vastly overhired. Think of your own peers and colleagues. How many are a) utterly useless or b) competent but don't have anything to do so they spend time working on mostly pointless projects to improve their CV?
How many are a) utterly useless or b) competent but don't have anything to do so they spend time working on mostly pointless projects to improve their CV? I hope my colleagues aren't reading this and looking at me.
Not entirely true, but I think most people can (if they're being honest) get 70% or more correct when guessing who will be laid off.
The only wildcard usually is when entire teams are let go, and sometimes those are predictable, sometimes surprising.
Ask HN: Isn't recession just mass hysteria ? Layoffs leading to more layoffs leading to the entire economy slowing down ?
Earlier quoted context omitted.
How many are a) utterly useless or b) competent but don't have anything to do so they spend time working on mostly pointless projects to improve their CV? I hope my colleagues aren't reading this and looking at me.
If you don't know who the useless colleague is, it's probably you! Not entirely true, but I think most people can (if they're being honest) get 70% or more correct when guessing who will be laid off. The only wildcard usually is when entire teams are let go, and sometimes those are predictable, sometimes surprising.
What happens when it's the managers themselves who are useless, overpaid, and can't evaluate the team for actual efficacy?
Where are we heading if every company drop 10-20% of their staff?
All these companies have vastly overhired. Think of your own peers and colleagues. How many are a) utterly useless or b) competent but don't have anything to do so they spend time working on mostly pointless projects to improve their CV?
Ask HN: Isn't recession just mass hysteria ? Layoffs leading to more layoffs leading to the entire economy slowing down ?
What recession? We are not in a recession. Unemployment data and the broader economy are still strong. Saying otherwise is dangerous, to be honest
Ask HN: Isn't recession just mass hysteria ? Layoffs leading to more layoffs leading to the entire economy slowing down ?
Was it not mass hysteria when FB, a company that everyone openly hates and who's main product is clearly dying was hiring by the thousands so they could "expand"?
Earlier quoted context omitted.
> has previously said that he wants higher unemployment He has not. I am open to being corrected with a credible source. But every time I see this conspiracy theory, it’s based on summaries of Fed statements unsupported by the statements themselves. > is why the market goes down when low unemployment numbers are released Because the market is anticipating rate hikes. When inflation is low strong employment boosts the…
> We’re never going to say that there are too many people working