Asking who funded it is kind of meaningless when you’re talking thousands of studies, it’s one of those topics that’s quite interesting for everyone from economists to management consultants.
COVID was a mix of turnover, furlough, and layoffs, but the layoffs were generally of the exact type I was referring to. Shutting down a restaurant’s dining service doesn’t get the same kind of pushback as a 15% cut across a division. The company isn’t trying to do the same stuff with fewer employees, it’s no longer serving those customers.
I love studies. Which study, who funded it, and why?
Widespread layoffs are not necessarily a sign management screwed up, in most cases this is not the case. For example, who would have been able to predict COVID? I did, but that was in the first week of January 2020. I was able to profit from it. The largest total number of layoffs in history occurred in 2020. Market conditions change.
Is it managements faults that productivity is increasing at exponential rates because of machine learning? Did they screw up If they fire everyone because of automation, and lower costs? That is not a screw up. Automation creates opportunity. It also creates opportunity to fire people to increase the value of the share holders equity.
Buckle up butter cup, your emotions and feelings about to become even less relevant. There is going to chasm in labor like never before. We have an entire generation that has been sold they are entitled to a job. Shareholders, management and politicians are sick of them and we're doing everything possible to avoid them.