2023 Layoffs
Simply changing the calendar year changes nothing ... If 2022 was the down year for stocks, 2023 looks like it's going to be the down year for jobs
When Meta let 11,000 employees go in November, and Goldman Sachs cut thousands of jobs in December to reduce costs so that it can, as management claim, “navigate a difficult economic climate”, this should serve as a warning to job seekers in general.
Looks like work from home be at home is the new normal for 2023.
Amazon is laying off 18,000 as technology slumps
Telsa reports it will cut 10% of it’s work force in the 1st quarter
Salesforce is to fire 8,000 employees
and in 2022 the tech sector in general had a run of notable layoffs:
Layoff Workforce Figures | Crunchbase
The signs that the recession the fed is looking for is coming and equity investors hoping for a bullish year in 2023 may be disappointed.
Michael Kantrowitz from Piper Sandler & Co predicts that the S&P 500 will fall another 16% to 3,225.
Another big down year | Bloomberg
The article argues that it is rare for stock markets to have two down years in a row, only a five times in a century. The article fails to note that when there have been two down years in a row, the world has been grappling with either wars or inflation or in this case both situations.