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submitted 6 months ago by MicroWave@lemmy.world to c/news@lemmy.world

After years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power.

Shipping giant FedEx last week said customers have shied away from speedier, pricier shipping options. Airlines including Southwest discounted off-peak fares in the fall. The likes of Target and Cheerios maker General Mills have cut their sales outlooks as more consumers watch their budgets.

It’s a shift from the recent years when consumers spent at a breakneck pace — and at high prices — lifting corporate revenues to new records. But faced with weakening demand, more price-sensitive consumers, easing inflation and better supply, some sectors are now forced to find profit growth without the tailwind of price hikes.

The answer across industries has been to cut costs, whether it’s through layoffs or buyouts, or simply becoming more efficient. Executives have spent the past several weeks selling these cost-cutting plans to Wall Street.

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[-] ryan213@lemmy.ca 48 points 6 months ago
[-] harry_balzac@lemmy.world 20 points 6 months ago

Can't be hassled by the homeless or protestors when you are out sailing on your new yacht.

[-] Ensign_Crab@lemmy.world 13 points 6 months ago
[-] brown567@sh.itjust.works 3 points 6 months ago

Technically orcas are homeless?

[-] Angry_Maple@sh.itjust.works 17 points 6 months ago

Crazy shit.

I didn't see it coming, but the entire department I worked at during my last job was laid off only two weeks after i started my new job. The cheeky buggers waited until people left for the Christmas weekend to call them and tell them.

Yet they act all baffled and suprised when people quit.

this post was submitted on 29 Dec 2023
159 points (98.8% liked)

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