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A comment on Bank of England expects UK to fall into longest ever recession. Parent comment

Re:Bank of England expects UK to fall into longest ever rece... by fny on Thursday November 03, 2022 @03:26PM (#33456115)
> My take is that most companies are taking advantage of the impression that we're in hard economic times to perform layoffs that they wanted to do anyway.

And convince people to take a wage cut or outsource/"insource" labor.

[ Parent | on HN ]
Re:Bank of England expects UK to fall into longest ever rece... by oxfordmale on Thursday November 03, 2022 @03:53PM (#33456542)
The lay offs are driven directly by the cost of borrowing that has gone up this year. We had a decade where money was pretty much free. Now money is no longer free, companies are looking at cutting costs.
[ Parent | on HN ]
Re:Bank of England expects UK to fall into longest ever rece... by fny on Thursday November 03, 2022 @05:04PM (#33457529)
No it's not. I know this is the narrative being pushed, but this is not a real problem. Remember, the US government pumped out $3T that's still circulating, and there was record borrowing at ZIRP for bonds with 30 year duration. The Fed's hikes are an attempt to slow that down, but money is still on average cheap.
[ Parent | on HN ]