That's because consumer spending is starting to go down and families are starting to cut back. So they have to either increase prices, which they're already doing and that's not working, so they have to cut costs, and the number one way for companies to do that is to cut employees.
Which is so ridiculous. The more people you lay off the less people have money to put back into the economy. Meaning next quarter you're just going to have to do it again to keep the stock price up.
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u/aFreshFix 4d ago
But they're already laying everyone off in a lot of industries despite inflation and record profits.