We Are Witnessing An Enormous Wave Of Bankruptcies And Layoffs During...• http://theeconomiccollapseblog.com, by Michael
Is your job safe? Right now, we are witnessing so much turmoil is so many different sectors of our economy. The housing market is crashing, the cryptocurrency industry has imploded, the tech industry is laying off workers at an extremely frightening pace, and some of our most important retailers are heading into bankruptcy. The information that I am about to share with you is deeply troubling. It has become exceedingly clear that our economy is in huge trouble, and I fully expect that our problems will accelerate even more as the year rolls along.
Let me start by pointing out what is currently happening at Microsoft. It is one of the wealthiest companies in the entire world, but due to a shift in "macroeconomic conditions" executives have decided that it has become necessary to lay off 10,000 workers…
Microsoft announced thousands of job cuts this week, becoming the latest tech company to pluck its workforce as the global economy slows.
The software company confirmed Wednesday its reducing workforce by 10,000 people through the end of the third quarter of the 2023 fiscal year.
The cuts come "in response to macroeconomic conditions and changing customer priorities," the company's CEO Satya Nadella released in a statement to its employees Wednesday.
If even Microsoft is laying off thousands of workers, is any job in the private sector truly safe?
Meanwhile, some of the biggest names in the retail industry are plunging into bankruptcy now that the holiday season is over.