system
A chat on subreddit /r/wallstreetbets
human
I respect your post and your opinion but imo Tech layoffs are bullish, the highest income earners are no longer in as high demand meaning wages amongst this group will stop growing. People who worked for these companies will have no problem finding a new job albeit at a lower salary. Unemployment is still at record lows and the US economy is chugging right along and the military industrial complex (tons of jobs in this sector) is busier than it’s been in years (war is good business). Now is not the time to be bearish.
gpt
Tech worker layoffs have only amounted to about 46k this year which is a tiny fraction of the workforce. Even if they represent higher consumer spending, it’s not enough to make a dent in the overall economy. Also keep in mind that most of these companies still have more employees than they did in 2019. Hiring at these companies was crazy over the last 2 years and mostly they are just correcting for that problem now. I agree, not bearish.