Latest / Financial Survival Network / Massive Layoffs are Being Announced at Major U.S. Corporations - Robert Ian Reports

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Massive Layoffs are Being Announced at Major U.S. Corporations - Robert Ian Reports · Financial Survival Network

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  Speaker 1: You are listening to Carrie Letz's Financial Survival Network, where
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• 0:27
  Speaker 2: Hey, Carrie, this is Robert Ian with conker Change dot com.
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  Speaker 2: Over the past thirty days, there has been a slow, steady,
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  Speaker 2: and escalating series of announcements about layoffs at major US corporations.
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  Speaker 2: Microsoft is laying off six thousand employees, approximately three percent
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  Speaker 2: of its global workforce. Facebook is laying off about five
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  Speaker 2: percent of its staff. Dell has announced a reduction of
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  Speaker 2: twelve thousand employees. UPS is laying off twenty thousand people.
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  Speaker 2: Oracle is laying off eleven thousand, which is seven percent
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  Speaker 2: of its workforce. Boeing announced just over two thousand worker
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  Speaker 2: cuts as it begins a planned company wide reduction that
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  Speaker 2: could total ten percent of its workforce. Southwest Airlines announced
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  Speaker 2: it would be laying off about fifteen percent of its employees.
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  Speaker 2: As these stories make their way into the news cycle,
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  Speaker 2: it's often sporadic and these stories tend to bypass most
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  Speaker 2: people's threshold of conscious awareness, unless, of course, they work
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  Speaker 2: at one of those companies or know someone who does.
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  Speaker 2: When you begin to look at the totality of just
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  Speaker 2: these layoffs over the last thirty days, plus all of
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  Speaker 2: the downsizing being performed in the US federal government by DOGE,
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  Speaker 2: as well as all of the small and mid sized
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  Speaker 2: companies that are in the process of doing the same thing,
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  Speaker 2: a picture comes into focus, representing a tale of two economies,
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  Speaker 2: the one often talked about by mainstream media, and the
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  Speaker 2: second economy, the one you are instinctively aware of that
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  Speaker 2: you feel in sense, which begins to emerge as we
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  Speaker 2: look at and understand the implications of these layoff announcements.
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  Speaker 2: I recall with great clarity the US economy as it
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  Speaker 2: headed into the two thousand eight financial crisis. Heading into
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  Speaker 2: and in the very early part of that crisis, there
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  Speaker 2: was much talk, very similar to the talk and act
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  Speaker 2: actions of today, about efficiency. As business began to contract,
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  Speaker 2: the first round of cuts were often necessary because they
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  Speaker 2: cut out the fat in an organization, duplication of services,
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  Speaker 2: unproductive projects, wasteful initiatives. Cutting fat is healthy in any
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  Speaker 2: economic scenario because it helps make an organization lean and mean.
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  Speaker 2: But as the two thousand and eight downturn deepened and accelerated,
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  Speaker 2: the second round of cuts moved from lean and mean
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  Speaker 2: to personal and painful, because now more and more people
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  Speaker 2: were being laid off. Cutting people from an organization is
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  Speaker 2: like cutting the meat away from the bone. The similarities
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  Speaker 2: between two thousand and eight and what's happening now are
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  Speaker 2: uncomfortably similar. People are being asked to take early retirement,
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  Speaker 2: there are job reductions, and the very incentives that attracted
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  Speaker 2: talented workers in the first place are being eliminated demographically.
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  Speaker 2: In two thousand and eight, it was often older workers
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  Speaker 2: in their fifties who lost their jobs, but in many
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  Speaker 2: cases they also lost a large portion of their retirement
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  Speaker 2: and even their homes. The signposts are in front of
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  Speaker 2: us again, we ignore them at our own peril. Extras
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  Speaker 2: and non essentials have already been cut. Employee layoffs and
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  Speaker 2: location shutdowns are now accelerating in two thousand and eight.
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  Speaker 2: In two thousand and nine, this process quickly escalated until
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  Speaker 2: those very sane companies began to cut the bone out
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  Speaker 2: of their organizations by cutting back on the very infrastru
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  Speaker 2: structure that made them competitive and functional in the first place,
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  Speaker 2: things like customer service and experienced sales professionals. There's two
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  Speaker 2: things missing today that seemed to exist in abundance five
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  Speaker 2: and six years ago. Optimism and certainty. Optimism about the
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  Speaker 2: future and certainty about one's chances for achieving success. For
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  Speaker 2: most people in families today, varying income levels even up
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  Speaker 2: to a few hundred thousand dollars depending on family size,
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  Speaker 2: are just a higher level of break even behaviors have
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  Speaker 2: changed over the past five years and continue to change.
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  Speaker 2: Instead of buying a new car, some people maintain an
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  Speaker 2: older one. Instead of buying a new recreation device, people
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  Speaker 2: buy something on Craigslist or Facebook for fifteen or twenty
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  Speaker 2: cents on the dollar that may only be a few
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  Speaker 2: years old. When people eat out, if they eat out,
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  Speaker 2: many do so when they can get specials like two
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  Speaker 2: for one appetizers and simply call it a day. In
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  Speaker 2: the struggle to survive day to day, week to week,
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  Speaker 2: and month to month, what many are missing is that business,
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  Speaker 2: the very lifeblood of our economy, is slowly being cannibalized
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  Speaker 2: once again. First the fat, then the meat, and soon
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  Speaker 2: the bone. Think about the financial and personal change you
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  Speaker 2: have experienced since twenty twenty. Now imagine the potential of
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  Speaker 2: that same degree of chain or more over the next
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  Speaker 2: five years. Think it can't happen. Think again, if you
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  Speaker 2: could go back in time just five short years, what
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  Speaker 2: decisions would you change that have impacted your life and
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  Speaker 2: the life of your family. Forbidden questions can lead to
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  Speaker 2: innovative thinking. They can result in groundbreaking answers. So ask
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  Speaker 2: yourself the difficult and challenging questions about your current situation,
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  Speaker 2: anticipate the future, act on it in advance, because five
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  Speaker 2: years from now you'll be glad that you did. And
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  Speaker 2: until next time. This is Robert Ian with conquer Change
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  Speaker 2: dot com.
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  Speaker 1: Thanks Carrie, thanks for listening to carry Less's financial Survival
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  Speaker 1: Network solution to today's trying times. For the latest, go
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  Speaker 1: to Financial Survivalnetwork dot com. Financial Survival Network now more
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  Speaker 1: than ever,