this post was submitted on 25 Jan 2024
329 points (97.1% liked)
Asklemmy
44152 readers
797 users here now
A loosely moderated place to ask open-ended questions
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I don't like calling it overhiring as if it was accidental or something. They didn't hire thousands of people over covid thinking covid would never end, they just knew they could pick up people to fill the role for now and kick them to the curb as soon as they weren't needed.
It wasn't an oopsie, it was by design.
Yeah, here in Germany, workers have stronger protections, laying them off isn't as easy, and I feel like the layoff waves have largely not occurred here, because companies didn't hire so much during the pandemic.
Another factor was the PPP and other "totally not bailouts" that were part of the COVID relief spending.
Of the roughly $800 billion dollars from PPP which was provided as uncollateralized, low-interest loans 66-77% went directly to companies and ~92% of those loans were completely forgiven.. In other words an ~5-600M bailout predicated on keeping positions open long enough to maintain plausible deniability that is what the goal was.
They'll give corporations all the slack and handouts but look at those trying to feed their children and scrutinize every little detail. It's so sad.