this post was submitted on 14 Jan 2024
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Da fuck is layoff season? Is that a real thing?
It is 100% a real thing. American tech companies go through this cycle where they over-hire (on purpose) and then later on they lay a bunch of people off to "cut costs" and appear "financially responsible". This is also easier to manage (if you're a lazy dipshit) because you don't need to worry about your exact headcount so much, you can adjust later if you have too many or too few people. (It also gives a good excuse to get rid of people you don't like but who would otherwise be very hard to fire.)
Investors eat that shit up.
Since companies tend to report earnings and things around the same time, companies engaging in this strategy all tend to lay people off at the same time.
Here's a page tracking this phenomenon.
All these companies playing the layoff game at the same time, destabilizing the lives of million of people and their family. Is there any report on the damage to the economy at a whole?
Of course not, inconvenient things like that don't get investigated in the first place.