Hitting the Financial Precipice
ARE WE THERE YET?
Seems like a good bulk of the US population is approaching the financial precipice. Been reading how health insurance (for people lucky enough to enjoy) have increased 3-5 fold with employers in 2024. The cost of everything becoming prohibitive. Massive layoffs. The media adds salt to the wound by touting strong metrics.
Painful awakening for many.
Even the too big to fail companies are hurting.
Amazon for instance is cutting staff at subsidiary’s. Twitch lost 35% of its staff in one go.
Gaming industry has seen 2,000 layoffs in the first 10 days of 2024. A little over 25% of the layoffs they had for the entirety of the last year in the first 10 days. Which paints a dismal picture for the Tripple A studios going forward.
Number of part time jobs is rising. Full time decreasing.
Hollywood is projected to continue hemorrhaging money. Which means the entertainment giant’s are going to probably cut even more.
Reports streaming in from overseas aren’t particularly positive either. The Chinese are, at least according to reports, appear to be in the opening throes of an outright economic collapse. Not just a slowdown or recession.
Rumors are the publishing of earnings reports from last quarter are going to be the signal for another round of layoffs.
It just means they were replaced with AI.
Now Blackrock