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by sf4lifer 1312 days ago
It's a recession when your neighbor loses his job; it's a depression when you lose yours. Harry S Truman

I went thru the previous crashes. It feels like the start, but not the eye of the storm. Companies are cutting jobs, not going going out of business. The casualty rate of startups in dotcom felt like 90%+. In 2008 major banks had to get bailed out. Today, companies are making cuts to get back to 2019 levels. There is still a long way to go before it's a hard reset.
2 comments
JKCalhoun 1312 days ago
From some comments here I'm inclined to (snarkily) add "It's culling under-performers when they're laying off your co-workers, it's a layoff spree when it's your job."
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kwertyoowiyop 1312 days ago
“Trimming the fat”: your coworkers

“Slicing to the bone”: you

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fnordpiglet 1312 days ago
In 2000 the only companies in the Bay Area not going out of business were the “For Lease” sign companies.

I don’t think a two year hiring spree with a pullback spells the end of anything other than an aberration caused by a global natural disaster.

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