A shockingly large wave of layoffs has already begun, and we are being warned that much larger layoffs are coming in the months ahead. That is very chilling to hear, because job cut announcements are already coming in so rapidly that I couldn’t possibly share them all with you. I wrote about some of the major layoffs that are happening just a few days ago, and now I have more to share. We haven’t seen anything like this since 2008, and many of you still have very painful memories of what the “Great Recession” was like. Unfortunately, America is now plunging into another severe economic downturn, and that means that there will be a tremendous amount of pain in the weeks and months to come.
Earlier today, I was stunned to learn that a new survey has found that 20 percent of business economists “expect employment at their company to fall in the coming months”…
A growing number of business economists expect companies to reduce their headcounts for the first time since the pandemic, a sign the job market is beginning to cool amid an increasingly dark economic outlook.
That’s according to a new survey published on Monday by the National Association for Business Economics, which shows that about 20% of the group’s members expect employment at their company to fall in the coming months.
Is this survey representative of the U.S. economy as a whole?
If it is, that is truly chilling.
Can you imagine what our economy would look like if about one-fifth of all U.S. companies started suddenly letting workers go all at once?
Hopefully that will not happen.
But it appears that the coming layoffs in the banking industry could be historic.
In fact, one expert is publicly warning that “the job cuts that are coming are going to be super brutal”…
Banks are set to undertake the largest wave of job cuts in 15 years amid declining revenues.
Industry watchers told the Financial Times (FT) the layoffs — expected to be in the tens of thousands — reverse a trend of widespread hiring and banks’ reticence to let go of workers during the pandemic.
“The job cuts that are coming are going to be super brutal,” Lee Thacker, owner of financial services headhunting firm Silvermine Partners, told the FT in a Saturday (Jan. 21) report.
He didn’t just say that the job losses will be “brutal”.
He said that they will be “super brutal”.
Of course many would argue that the outlook for tech industry workers is even worse.
At this point, “tens of thousands of employees” have already been laid off within just “the past few months”…
Big tech giants have laid off tens of thousands of employees over the past few months as recession fears, persistent inflation, and rising interest rates continue to weigh on earnings results. The likes of Google, Amazon, and Meta have let go of nearly 40,000 employees combined.
But Gene Munster, managing partner at the tech-focused investment and venture capital firm Deepwater Asset Management (formerly Loup Ventures), believes the worst is yet to come.
“There’s still another 15% to 20% of headcount reductions for these big tech companies in the next three to six months,” he told CNBC on Monday.
The startling layoffs that we just witnessed at Google made headlines all over the planet, because most of the experts didn’t see them coming.
Sadly, many of those that were laid off didn’t see them coming either.
Can you imagine giving 20 years of your life to Google and then getting suddenly laid off one day via email?…
A software engineer described the way he found out Google was laying him off as a “slap in the face.”
Jeremy Joslin, whose LinkedIn profile says he had worked at the tech giant since 2003, said Friday the company gave him the news over email.
“It’s hard for me to believe that after 20 years at Google I unexpectedly find out about my last day via an email,” he tweeted. “What a slap in the face. I wish I could have said goodbye to everyone face to face.”
That is cold.
But it appears that this is becoming something of a trend.
In fact, Vox just laid off 7 percent of its workforce, and those that lost their jobs were “notified through email”…
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Vox Media, the publisher of news websites such as Vox and The Verge, in addition to New York magazine, will lay off 7% of its workforce, chief executive Jim Bankoff said in a Friday morning memo to staff.
Bankoff said the layoffs, which will result in about 130 people losing their roles, impacted multiple teams, including editorial. Those who had their jobs eliminated were notified through email, followed by a later meeting with a human resources officer who would discuss severance packages with them.
If you are in human resources and you are reading this, please don’t ever do something so cruel at your own company.
It may be much easier to fire people by email, but it is simply the wrong thing to do.
On Monday we also learned that Spotify will be conducting mass layoffs…
Spotify has joined a slew of other tech giants in laying off employees.
Monday’s announcement shared by CEO Daniel Ek said that impacted employees, about 6% across the company, will be notified Monday morning.
I suppose that they have to pay Joe Rogan somehow.
But it always pains me when I hear of people losing good paying employment. Sadly, for many firms one wave of layoffs will not be enough.
As we plunge into a very harsh economic environment, some companies will have to get out the axe again and again.
For example, just look at what the Winklevoss twins are doing. They just conducted their third round of layoffs within the last eight months…
Cryptocurrency exchange Gemini is slashing 10 percent of its staff – the third round of layoffs within just eight months.
The announcement was made in an internal message on Monday by founders and identical twins Cameron and Tyler Winklevoss, 41, The Information reported.
The company also cut staff in July, according to TechCrunch, just a month after it laid off 10 percent in June.
Instead of subjecting us to horrifying renditions of some of our most beloved classic songs, perhaps they should have spent more time trying to figure out how to keep their company afloat.
In any event, it turns out that the doe-eyed optimists were dead wrong and the economic realists were quite correct.
The massive economic meltdown that we have been relentlessly warned about is happening.
Hordes of American workers have already been laid off, and countless more will be laid off as 2023 rolls along.
So you may want to try to butter up your boss while you still can, because otherwise you may be one of the people that gets “laid off by email” in the months ahead.
***It is finally here! Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.***
About the Author: My name is Michael and my brand new book entitled “End Times” is now available on Amazon.com. In addition to my new book I have written six other books that are available on Amazon.com including “7 Year Apocalypse”, “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending copies as gifts to family and friends. Time is short, and I need help getting these warnings into the hands of as many people as possible.
I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.
I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is definitely a great help. These are such troubled times, and people need hope. John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” If you have not already done so, I strongly urge you to invite Jesus Christ to be your Lord and Savior today.
Article cross-posted from The Economic Collapse Blog.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
