Layoffs RAMPANT in 2024 But Economy is GREAT…

My friend, let me tell you about the current state of layoffs and the economy in 2024. Despite reports of a strong economy and a soft landing, there have been an alarming number of job cuts and layoffs announced since the start of the year. This contradiction is the focus of a thought-provoking video by Michael Bordenaro, where he discusses these layoffs, offers 1 on 1 calls, and shares information about his filming and editing equipment. You can also sign up for his email list to receive weekly video updates and even get cash back on your internet purchases.

The video touches on various aspects, from the impact of AI on tech sector layoffs to major companies like Microsoft, eBay, Salesforce, and Google downsizing their workforce. UPS, a well-known logistics company, has even announced layoffs of 12,000 employees, attributing it to soft demand and a recent labor contract. This begs the question of whether the rosy picture painted by the government, the Fed, and news outlets truly reflects the reality of the economy. The video emphasizes the need for saving money, making smart financial decisions, and living within one’s means in these uncertain times, while also highlighting the importance of addressing significant changes in the economy, such as decreasing housing prices and correcting the stock market.

Layoffs in 2024

Significant job cuts and layoffs announced

Since the beginning of 2024, there have been a significant number of job cuts and layoffs announced across various industries. Companies like Microsoft, eBay, Salesforce, and Google have all performed layoffs, indicating that this is not limited to the tech sector. Major companies are trying to remain profitable by reducing their workforce, and some economists suggest that these layoffs are an experiment to find the right balance of hiring and firing.

Layoffs in tech and non-tech companies

While AI is often cited as the reason for layoffs in the tech sector, it is important to note that layoffs are also occurring in non-tech companies. Banks have been performing layoffs, with City Bank recently announcing that it will let go of 30,000 employees. UPS, a logistics company, has also announced layoffs of 12,000 employees in 2024, citing soft demand and a recent labor contract. This indicates that layoffs are not limited to specific industries but are a result of companies trying to cut costs and remain profitable.

Major companies performing layoffs

Several major companies have been performing layoffs in 2024. Microsoft, eBay, Salesforce, and Google are just a few examples of companies that have announced job cuts. These layoffs, along with those in non-tech companies like banks and UPS, further emphasize the widespread nature of this trend. It is clear that companies from various industries are feeling the need to reduce their workforce to maintain profitability.

Reasons for layoffs: AI and workforce reduction

While AI is often mentioned as a reason for layoffs in the tech sector, it is important to note that layoffs are happening across industries. Companies are trying to find the right balance of hiring and firing to remain profitable in the face of anticipated weaker economic conditions in 2024. Reduction in workforce guarantees a higher profit margin, and companies are taking this approach to ensure their financial stability.

UPS announces layoffs

One striking example of layoffs in 2024 is UPS, a logistics company. UPS has announced layoffs of 12,000 employees, citing soft demand and a recent labor contract. The company expects that these layoffs will save them about $1 billion in 2024. This decision indicates that even companies outside the tech sector are feeling the need to downsize to maintain profitability. The layoffs at UPS, which include letting go of 14% of their managers, are a clear indicator that the economy is not as rosy as it is being portrayed.

Economy in Question

Contradiction between layoffs and strong economy

The significant number of job cuts and layoffs announced in 2024 raises questions about the true state of the economy. Despite reports of a soft landing and a strong economy, the layoffs suggest otherwise. It is crucial to examine the contradiction between the rosy picture painted by the government, the Fed, and the news outlets and the reality of widespread job cuts.

Doubt about the government, Fed, and news outlet’s portrayal of the economy

The contradiction between the high number of layoffs and the reports of a strong economy raises doubts about the accuracy of information provided by the government, the Fed, and news outlets. If the economy were truly booming, we would expect to see companies hiring rather than firing employees. The discrepancies between what is being reported and the actual job market indicate a potential misrepresentation of the economy’s true state.

Decline in home prices and slow rental market as indicators of a struggling economy

Another indication of a struggling economy is the decline in home prices and the slow rental market. This decline suggests that people are not as willing to invest in real estate, which is often seen as a sign of economic confidence. If the economy were truly strong, we would expect to see higher home prices and a thriving rental market. These indicators align with the high number of job cuts and further support the argument that the economy is not as healthy as reported.

Importance of saving money and living within one’s means

Given the uncertain state of the economy, it becomes crucial for individuals to save money and live within their means. It is essential to prioritize financial stability and avoid unnecessary spending. By saving money, individuals can create a safety net for themselves and weather any economic uncertainties that may arise. Living within one’s means ensures financial security and minimizes the impact of economic downturns.

Smart financial decisions and finding discounts

In addition to saving money and living within one’s means, making smart financial decisions becomes even more critical during times of economic uncertainty. This includes finding discounts and opting for cost-effective solutions. By making wise choices when it comes to spending, individuals can stretch their budgets and minimize the financial strain caused by a struggling economy. There are always ways to find discounts and save money, and it becomes even more important during challenging economic times.

Video by Michael Bordenaro

Discussion of layoffs and contradiction

Michael Bordenaro’s video further discusses the topic of layoffs and highlights the contradiction between the reported strong economy and the significant job cuts. He provides insights into the reasons behind these layoffs and offers a critical perspective on the portrayal of the economy by the government, the Fed, and news outlets. The video serves as a valuable resource for those seeking a deeper understanding of the current economic situation.

Offer of 1 on 1 calls and information about filming and editing equipment

In addition to discussing layoffs and the state of the economy, Michael Bordenaro offers 1 on 1 calls for further discussion on these topics. This provides viewers with an opportunity to engage directly with him and gain more insights into the subject matter. Furthermore, he shares information about the filming and editing equipment he uses, offering aspiring content creators valuable guidance and recommendations.

Sign-up for email list to receive weekly video updates

To stay updated on the latest videos and insights from Michael Bordenaro, viewers can sign up for his email list. This allows them to receive weekly video updates directly in their inbox, ensuring they don’t miss any valuable content. By signing up, individuals can stay informed and continue to deepen their understanding of the current economic climate.

Opportunity for cash back on internet purchases

In the video, Michael Bordenaro also mentions the opportunity to earn cash back on internet purchases. He highlights this as a way for viewers to maximize their savings and make their money go further. By taking advantage of cash back offers, individuals can receive a portion of their spending back, which can help offset the impact of a struggling economy.

Mention of microphone used by Michael Bordenaro

In response to viewer inquiries, Michael Bordenaro mentions the microphone he uses in his videos. This demonstrates his willingness to engage with his audience and provide them with the information they are interested in. By sharing details about his equipment, he not only satisfies viewer curiosity but also offers valuable insights for those interested in creating their own content.

Affiliate links for commission on purchases

It is important to note that some of the links provided by Michael Bordenaro in the video may be affiliate links. This means that if viewers make purchases through these links, he will earn a commission. However, this comes at no extra cost to the viewer and serves as a means of supporting the channel. It is a common practice among content creators and allows them to continue producing valuable content for their audience.

Concerns About US Economy

Speaker’s concern about current outlook

The speaker in the video expresses concern about the current outlook for the US economy. Despite reports of a strong economy, the high number of layoffs and declining job openings raise doubts about the true state of the economy. The speaker encourages critical thinking and questioning of the information provided by the government, the Fed, and news outlets regarding the economy.

Reports of layoffs and declining job openings

The speaker highlights the reports of layoffs and declining job openings as evidence of a struggling economy. The layoffs, including those in major companies like Microsoft, eBay, Salesforce, and Google, suggest that businesses are trying to cut costs and remain profitable. Additionally, the declining job openings and the decrease in hiring opportunities further support the argument that the economy is not as healthy as it is portrayed.

Comparison to weather in Miami and California

The speaker compares the current economic situation to the weather in Miami and California. While the speaker describes the beautiful sunny weather in Miami, they highlight that the economic outlook is not as sunny. This analogy serves to emphasize the discrepancy between the positive portrayal of the economy and the reality of layoffs and a declining job market.

Companies reducing workforce to remain profitable

The speaker suggests that companies are reducing their workforce to remain profitable. The anticipation of a weaker year in 2024 has led companies to make tough decisions to cut costs and ensure their financial stability. By reducing their workforce, companies can increase their profit margins and navigate the uncertainties of the economy. This trend is not limited to the tech sector, as layoffs are occurring across various industries.

Conclusion

The current state of the US economy raises concerns and questions about its true health. Despite reports of a strong economy, the significant number of job cuts and layoffs suggests otherwise. The video by Michael Bordenaro provides valuable insights into this contradiction and offers viewers the opportunity to engage further through 1 on 1 calls. By analyzing the current economic indicators, such as declining home prices and a slow rental market, it becomes clear that significant changes need to be made in the economy. This includes a dramatic decrease in housing prices and a correction in the stock market. In times of economic uncertainty, it is crucial for individuals to prioritize saving money, living within their means, and making smart financial decisions. By doing so, individuals can navigate the challenges of a struggling economy and secure their financial well-being.