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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 10 months ago by L4s to c/technology

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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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[–] [email protected] 101 points 9 months ago (2 children)

I sure am glad we get these large corporations so much in the way of legislation, relaxed regulation, and financial incentives. Surely these will guarantee loads of FUTURE hiring when it will all start trickling down.

Right? Right?

[–] foggy 13 points 9 months ago

For trickle-down economics to work, there would need to be a tax structure in place that ratio'd your businesses net worth to your number of employees. And then have tiers. And at a certain tier, you're just 99% taxed. This way when the robots take over, it generates wealth for the masses instead of the few.

..until lobbyists play the "robots count as employees" card. Which inevitably leads to wealthy individuals propping up a robot to run for president. Which is how you get skynet.

Ok I'm gonna go make coffee.

[–] danc4498 9 points 9 months ago

Thank god we gave a massive corporate tax cut. This way they have more money to pay their employees