Bidens great Job market is evaporating today by 10,000+ and counting

[Ladsm]

We all heard about Twitter, Meta and now The big Jungle Company that starts with "A" is gutting departments starting today.

We are all sitting back waiting for the meeting invite from HR to "Have a Chat".

Sucks, I hate being in the sit and wait to see if you get called category just before the Holidays.

 

[jeepdog]

Well shit buddy, my fingers are crossed for ya

 

[Done-it-again]

We all heard about Twitter, Meta and now The big Jungle Company that starts with "A" is gutting departments starting today.

We are all sitting back waiting for the meeting invite from HR to "Have a Chat".

Sucks, I hate being in the sit and wait to see if you get called category just before the Holidays.

10K is a lot of people and never good, especially before the Holidays. In hindsight it's only 3% of Amazon's work force.

Wish you good luck!

 

[Ladsm]

Well shit buddy, my fingers are crossed for ya

I may be knocking on the door at Shiver River to see if I can become a sandwich maker!!

 

[RiverDave]

We all heard about Twitter, Meta and now The big Jungle Company that starts with "A" is gutting departments starting today.

We are all sitting back waiting for the meeting invite from HR to "Have a Chat".

Sucks, I hate being in the sit and wait to see if you get called category just before the Holidays.

I don't understand why Amazon and Fed Ex and the like are laying off right before the holidays? Seems like it would be right after the holidays?

RD

 

[regor]

I may be knocking on the door at Shiver River to see if I can become a sandwich maker!!

Hope it all goes well and way to keep that sense of humor!!!

Regardless of what happens, always move forward.

 

[LargeOrangeFont]

I don't understand why Amazon and Fed Ex and the like are laying off right before the holidays? Seems like it would be right after the holidays?

RD

These places overhired in the last 18 months. Amazon thought Covid was the deathblow to brick and mortar and far fewer people would go back to it. By extension the logistics companies followed suit.

@Ladsm hoping for the best for you.

 

[Drew]

They alien from “ meta” aka “ fuckface” fired 11000 people and my stock went up 30%. Don’t for one minute think these ceos are not looking at what 30% will do for them. They don’t care about us

 

[LargeOrangeFont]

They alien from “ meta” aka “ fuckface” fired 11000 people and my stock went up 30%. Don’t for one minute think these ceos are not looking at what 30% will do for them. They don’t care about us

Their #1 goal is stock price.

 

[DWC]

They alien from “ meta” aka “ fuckface” fired 11000 people and my stock went up 30%. Don’t for one minute think these ceos are not looking at what 30% will do for them. They don’t care about us

Every senior leader in every public company thinks the same. Their performance grants tie into the stock price.. It’s the death every Corportation. The need to leverage expense to sales. If revenue isn’t growing something has got to go.

 

[Ladsm]

I don't understand why Amazon and Fed Ex and the like are laying off right before the holidays? Seems like it would be right after the holidays?

RD

Corporate layoffs are always 4th quarter to get that year end-bump in stocks and start off first quarter lean.

I hate it but thats how they do it.

 

[Havasu blue label]

The first five of Facebook there buying hotels

 

[jetboatperformance]

I love what Musk did "NO FREE LUNCHES" He said the food workers at Twitter out numbered the people eating

 

[Singleton]

Corporate layoffs are always 4th quarter to get that year end-bump in stocks and start off first quarter lean.

I hate it but thats how they do it.

Q2 and Q4 are usually the periods.
I try to avoid public companies with a 12/31 year-end (I want my holidays free from work).
May, July and August were the year-ends of 4 of the places I worked. Only 2 places had 12/31 year-ends and both shops had vacation policies that limited time away during that period - both had August as executive vacation month

I fought like hell at two places to limit RIF’s in November and December when I was younger. Bad move and I regret that fight to this day. Ended up having to give the news in January which was after team members spent money on holidays and winter vacations and now had no job to pay the CC bill. I now try to give that news in April, May or October.

 

[Chili Palmer]

I love what Musk did "NO FREE LUNCHES" He said the food workers at Twitter out numbered the people eating

Probably because all they served were grass clippings and fake meat to all those liberal purveyors of "better food for better health". Nobody likes that shit, even during the plandemic when all the shelves were empty, the fake meat and vegan sections were still well stocked.

 

[monkeyswrench]

I was talking about this with a friend today. My theory isn't rooted in stock price or greedy CEO's...still bastards, but I digress. A FedEx guy that has maintenance done down the road has 2 trucks parked. One was the spare, now so is the other. 4 months ago they loaded in 6k packages in the mornings. Lately, the morning load is hovering about 4k.
People are buying less. Maybe because it costs more, maybe because they're nervous...maybe both. Both Amazon and FedEx are basically delivery services. Not as much bought, not as much needing delivery.

 

[EmpirE231]

I don't understand why Amazon and Fed Ex and the like are laying off right before the holidays? Seems like it would be right after the holidays?

RD

Maybe they’re expecting a very slow holiday season? I’d hope companies that large are doing legit forecasts.

 

[Singleton]

I love what Musk did "NO FREE LUNCHES" He said the food workers at Twitter out numbered the people eating

Best move ever. He wants to trim FTE’s by attrition go forward and run the company much leaner.
Return to 40 hours in the office and no free lunch, should reduce the headcount. Plus other benefits are being reduced. Tech benefits were getting out of control IMO.

Bad part, almost all tech companies are either reducing staff or froze hiring so job movement is difficult.

 

[CLdrinker]

Todd I hope you get skipped.

 

[Ace in the Hole]

I don't understand why Amazon and Fed Ex and the like are laying off right before the holidays? Seems like it would be right after the holidays?

RD

Temp labor is far cheaper than union tied labor. Most of the layoffs aren't in shipping and sorting from what I've seen reported.

 

[dribble]

I don't understand why Amazon and Fed Ex and the like are laying off right before the holidays? Seems like it would be right after the holidays?

RD

They are budgeting for the upcoming fiscal year. Most companies do their layoffs in December.

 

[Bobby V]

Temp labor is far cheaper than union tied labor. Most of the layoffs aren't in shipping and sorting from what I've seen reported.

What union are they tied into? Amazon or Fed EX.

Quick Google search.

Are Amazon employees unionized?
2,654 voted in favor of a union while 2,131 voted against a union. As of April 2022, the JFK8 warehouse is currently Amazon's only unionized workplace in the United States.

 

[Ace in the Hole]

What union are they tied into? Amazon or Fed EX.

Quick Google search.

Are Amazon employees unionized?
2,654 voted in favor of a union while 2,131 voted against a union. As of April 2022, the JFK8 warehouse is currently Amazon's only unionized workplace in the United States.

It was a generalized statement. IDK nor DIGAF if they are union or not...the practice however is something that happens. Hell it was something that we even went over in business classes in college.

 

[Andy B.]

We all heard about Twitter, Meta and now The big Jungle Company that starts with "A" is gutting departments starting today.

We are all sitting back waiting for the meeting invite from HR to "Have a Chat".

Sucks, I hate being in the sit and wait to see if you get called category just before the Holidays.

Thank the Democratic and Rhinos, that sucks man hopefully you're not on the chopping block.

 

[RogerThat99]

Temp labor is far cheaper than union tied labor. Most of the layoffs aren't in shipping and sorting from what I've seen reported.

I was thinking the same thing. Or do they layoff, and bring back the right sized labor force at lower pay than what they had to pay during Covid.

 

[LargeOrangeFont]

I was thinking the same thing. Or do the layoff, and bring back the right sized labor force at lower pay than what they had to pay during Covid.

It seems most of these layoffs are at the corporate level, but that is just from the articles.. who knows how accurate that is.

 

[Bobby V]

I was thinking the same thing. Or do the layoff, and bring back the right sized labor force at lower pay than what they had to pay during Covid.

Last Thursday I was notified that a Amazon store that we had already had material, plans and permits approved was scrapped. Hopefully we get our $$$ that we have already spent on this project.

 

[pronstar]

The good news is they’re creating part-time jobs instead

 

[Havasu blue label]

From a recruiter friend Texas main tech hub layoffs Dallas and Austin

 

[Havasu blue label]

my buddy has informed the time to buy property in Seattle is soon Amazon is cutting jobs big time

 

[Xtrmwakeboarder]

Crossing my fingers you make the cut. Tough times are coming…. Stockpile cash and batten down the hatches

 

[MK1MOD0]

I don't understand why Amazon and Fed Ex and the like are laying off right before the holidays? Seems like it would be right after the holidays?

RD

My guess would be to fire full time employees with benefits. And replace with part time help in a month. These giant corporations see people as numbers...... nothing more.

 

[RogerThat99]

Last Thursday I was notified that a Amazon store that we had already had material, plans and permits approved was scrapped. Hopefully we get our $$$ that we have already spent on this project.

Was that a personal venture, or a Union build?

 

[Bobby V]

Was that a personal venture, or a Union build?

There was no union requirement. We also did one in Huntington Beach last year.

 

[Ultra...Good]

There was no union requirement. We also did one in Huntington Beach last year.

 

[LazyLavey]

Significant layoffs in big corp ... but the only villain is Elon...

Supposedly we have 3m job openings and 1m unemployed.... so the odds are good they'll find employment?

 

[HotRod82]

FWIW - 4 people in our circle of friends were unexpectedly laid off last week. All white collar Pharma / life sciences field.
Bankers have been telling my wife they are losing a biotech company A DAY to BK. It appears hard times are indeed coming......

 

[just_floatin]

Cuts are a way of life in corporate American financial markets. Keep your emergency fund funded, skill sets current with the market and resume updated because the ax always eventually drops when you least expect it.

 

[RogerThat99]

There was no union requirement. We also did one in Huntington Beach last year.

I only said union because I thought you work for a union shop. What I meant was, was this for a business you own, or a company you work for?

 

[Ducksquasher]

We all heard about Twitter, Meta and now The big Jungle Company that starts with "A" is gutting departments starting today.

We are all sitting back waiting for the meeting invite from HR to "Have a Chat".

Sucks, I hate being in the sit and wait to see if you get called category just before the Holidays.

Hoping for the best!

 

[Racey]

This doesn't make sense, all the experts said everything was doing great, how could this be?

 

[rrrr]

I don't understand why Amazon and Fed Ex and the like are laying off right before the holidays? Seems like it would be right after the holidays?

RD

Amazon and FedEx don't make decisions like this without significant data to justify them. It's because their internal forecasts indicate e commerce sales will continue to decline as they are now, and that by year end the economy will be tipped into recession.

They aren't the only ones predicting that, and those that are know a lot more about the economy than the RDP'ers posting in the real estate thread.

 

[rrrr]

Their #1 goal is stock price.

No shit? Those that run huge public companies tend to focus on that.

 

[rrrr]

Bonus season not looking bright for private equity, Wall Street: report

Bonus season not looking bright for private equity, Wall Street: report

Bonus season may not be as merry as in past years as a new estimate from compensation experts say bonuses could drop as much as 15%.

www.foxbusiness.com

 

[Wizard29]

This is why I've been saying maybe it's good Republicans didn't take the Senate too. The economic decline is going to happen either way, so let the democrats own the mess they've created instead of being able to blame the red. Maybe it'll be bad enough by the next election that people will wake up some.

 

[wallnutz]

This doesn't make sense, all the experts said everything was doing great, how could this be?

Expert.

 

[Gelcoater]

. Maybe it'll be bad enough by the next election that people will wake up some.

I think you under estimate the stupidity of those people. If they aren’t already awake nothing will pull their ostrich heads out of the sand.

 

[was thatguy]

I think you under estimate the stupidity of those people. If they aren’t already awake nothing will pull their ostrich heads out of the sand.

While simultaneously over estimating the possibility of positive manipulation of predetermined elections.

 

[Gonefishin5555]

October unemployment was at 3.7. Just remember what started the current doom n gloom real estate thread was a post by PapaG about layoffs ongoing in banking and mortgage industry. I haven’t read much lately about job losses and BKs in that industry when they are getting the living shit beat out of them by the current interest rates. I’m sure they are still making big cuts. I can tell you my GF got hired recently by a small commercial loan broker to be a part time office person doing their books and doing some marketing and misc office work. She cut some big commission checks to a couple of the guys so they are surviving at least….as the meme goes buckle up and hang onto your hat. Damn it’s windy this morning your hat would blow away in this stuff

 

[DBMX]

Within the next few weeks we're going through a second round in just over a month (not a tech company... Large home goods corp). I think I'm going to be ok, but you never really know until its over. It sucks all this happens over the holidays.