↳ In-reply-to » What's with all these tech companies going through massive layoffs. The latest one is Intel, but instead they're cutting salaries to avoid laying off.

@prologic@twtxt.net listen to this: https://www.techwontsave.us/episode/146_tech_billionaires_are_coming_for_workers_w_wendy_liu

I really like this podcast. Even though I dont always agree with the host, they bring on knowledgeable people.The technical press is so bad, just a bunch of fawning sycophants who regurgitate press releases and hype, so listening to critical voices is crucial to forming a more balanced opinion.

Also, I think generally speaking the wealthy class is “cashing out” so to speak. They’re pulling in record profits but laying people off and raising interest rates? Economically that doesn’t make sense. There must be sone other reason they’re doing all this, and one of the more plausible explanations is the wealthy class is trying to “put down” efforts by the working class to gain power. COVID, the tight labor market, and the successful unionization efforts lately are scaring the shit out of them.