The tech industry is about to wreak havoc on Joe Biden’s economy.
In recent weeks, Facebook and Twitter both announced massive layoffs that were coming.
Now Amazon had added to the misery.
Big Numbers
Layoffs are finally starting to catch up to the halt in the economy.
Up until now, Joe Biden has managed to avoid it and with the holiday season coming, it seemed like it would not happen until the new year.
However, Twitter and Facebook recently announced layoffs that are well into five figures.
If they are laying people off, you know other tech companies are doing to be doing the same, eerily reminiscent of 2008.
Amazon has now joined the fray, announcing a layoff of 10,000 employees in its corporate and tech sectors.
For years, the cloud sector has carried Amazon, but new Amazon CEO Andy Jassy is looking to trim the fat.
One of the biggest hit areas will be the devices sector, which is bleeding money.
Bezos’ attitude was always try to be close to even in this sector just to steal business from other companies, but Jassy does not see it that way.
Amazon has already had a hiring freeze in place, so this is going to hit hard.
The bad thing for Biden is that all these massive companies are going to be doing layoff at the same time, so he won’t be able to hide behind his employment numbers for much longer.
Source: Fox Business
