(Jacob Bruns, Headline USA) Big businesses are collapsing across America as major corporations lay off hundreds of employees, as Biden’s economy continues to crater.
To go along with record inflation, astronomical gas prices, and supply chain failures, now Americans are beginning to get fired, the Gateway Pundit reported.
According to a Reuters report, more than 21,500 tech workers in the United States have lost their jobs so far this year.
Recently, Netflix announced that it would be firing 300 employees as it struggles to overcome one of its worst stretches in years.
“While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth,” a Netflix spokesman said.
“We are so grateful for everything they have done for Netflix and are working hard to support them through this difficult transition.”
Twitter is also dealing with struggles. The tech giant has been calling new hires to revoke its offers as it enters a period of stagnation.
Cryptocurrency firms have also lost a great deal due to the recent decline in crypto prices, with Coinbase Global leading the way by laying off 18% of it staff.
The same trend has affected the big banking industry–a potential sign of an impending recession.
JP Morgan Chase announced that it would be laying off hundreds of employees and reorganizing the jobs of hundreds of others in preparation for the oncoming economic downturn.
“Our staffing decision this week was a result of cyclical changes in the mortgage market,” a Chase Bank spokesperson said.
“We were able to proactively move many impacted employees to new roles within the firm and are working to help the remaining affected employees find new employment within Chase and externally,” he added.
