Millennials like socialism until they get a job and have to pay for it

[gwb-trading]

And here we go w/the misinformation:

your claim:
Yet the majority of U.S. employers both small and large have either paused hiring in Q3/Q4 or are actively laying off.

your source:

A new report released by small business referral network Alignable revealed that nearly two out of every three (63%) small business owners have put a hold on hiring within the last month because they cannot afford to add staff, and 10% of those small businesses have begun job cuts.

These findings are up from July, when 45% of small businesses stopped hiring new staff and 4% reported layoffs.

So what is the misinformation. Let's read what I stated again.

Yet the majority of U.S. employers both small and large have either paused hiring in Q3/Q4 or are actively laying off.

As I stated in the next line - "For example let's take a look at the small business sector."

You can also easily Google information regarding large employers as well.

At this point you should really stop deliberately misrepresenting what I am stating. This has been a consistent problem with you -- and you are one step away from block/ignore if you continue in this behavior.

 

[Cuddles]

So what is the misinformation. Let's read what I stated again.

Yet the majority of U.S. employers both small and large have either paused hiring in Q3/Q4 or are actively laying off.

As I stated in the next line - "For example let's take a look at the small business sector."

You can also easily Google information regarding large employers as well.

At this point you should really stop deliberately misrepresenting what I am stating. This has been a consistent problem with you -- and you are one step away from block/ignore if you continue in this behavior.

I even bolded it for you, tsk, tsk...

 

[gwb-trading]

I even bolded it for you, tsk, tsk...

Here is some information regarding layoffs and paused hiring at large corporations in the U.S. Just to be sure you cannot claim you were never provided with the information.

Job Cuts and Hiring Freezes Are Here. What Big Employers Are Doing.
https://www.barrons.com/articles/job-cuts-hiring-freezes-big-employers-51665081787

According to a KPMG survey, 39% of CEOs has paused hiring and over 50% are considering employment layoffs
https://www.inventiva.co.in/trends/according-to-a-kpmg-survey-39-ceos/
October 7, 2022

50% of employers expect job cuts, survey finds
https://www.cnbc.com/2022/08/22/50p...offs-a-survey-found-heres-how-to-prepare.html
Aug 22 2022

Visualizing Major Layoffs At U.S. Corporations
https://www.visualcapitalist.com/major-layoffs-us-corporations-2022/

Companies that announced Major Layoffs and Hiring Freezes
https://intellizence.com/insights/layoff-downsizing/major-companies-that-announced-mass-layoffs/

Over Half of the U.S.' Largest Companies Laid Off at Least 100,000 Workers This Year
https://www.newsweek.com/over-half-...id-off-least-100000-workers-this-year-1555628
(covers 50 largest companies)


Bottom Line: I have been through the boom / bust cycles in the workforce since the early 80s. Driven by Fed policy the U.S. is entering a bust cycle again. During this bust cycle there will be layoffs across small and large business and the "power" in the job market will shift to the employers. The first employees on the layoff list will be millennials who refuse to come into the office which is part of the basic expectations of the job.

Bosses admit remote workers are the first to go come layoff time
https://www.yahoo.com/video/bosses-admit-remote-workers-first-123000224.html

 

[Nine_Ender]

They would quit merely because their employers demanded that they show up in the workplace which is an expectation of the job.

Sadly these millennials are about to learn a harsh lesson. The economy is slowing, they will not longer hold the upper hand with employers (who are now laying off rather than hiring), and their lazy, entitled millennial rears are first on the list to be let go.

The era of their remote work demands is over. Covid vaccination is readily available and there is no longer any reason to work from home. As we turn the corner into 2023 workplaces will increasing expect their employees to be on-site 40 hours per week as was done for decades before 2020. Nor will switching jobs help a millennial much when all employers are expecting their employees on-site.

As one local CEO recently stated -- "They can work from anywhere they want... as long as it is the office".

This is pure bs. My daughter and many of her friends are highly successful and work remotely. They can get a job anywhere easily. You are showing your age and out of touch with what is really going on out there now. In demand people have no worries; in her case she can do quite well just on her self employed side hustles but the salaried job is just such good money she couldn't refuse it. Again though, 100% a remote job. As were her last two jobs including a management position; of course all her reports worked remotely as well, and this was before Covid was a thing. These are high quality jobs for very successful firms.

In Canada, there are a million vacant jobs right now. Employers are scrambling to find new hires, and often can't. Those who remain inflexible will suffer against competitors with more appropriate workplace rules.

 

[Nine_Ender]

Here is some information regarding layoffs and paused hiring at large corporations in the U.S. Just to be sure you cannot claim you were never provided with the information.

Job Cuts and Hiring Freezes Are Here. What Big Employers Are Doing.
https://www.barrons.com/articles/job-cuts-hiring-freezes-big-employers-51665081787

According to a KPMG survey, 39% of CEOs has paused hiring and over 50% are considering employment layoffs
https://www.inventiva.co.in/trends/according-to-a-kpmg-survey-39-ceos/
October 7, 2022

50% of employers expect job cuts, survey finds
https://www.cnbc.com/2022/08/22/50p...offs-a-survey-found-heres-how-to-prepare.html
Aug 22 2022

Visualizing Major Layoffs At U.S. Corporations
https://www.visualcapitalist.com/major-layoffs-us-corporations-2022/

Companies that announced Major Layoffs and Hiring Freezes
https://intellizence.com/insights/layoff-downsizing/major-companies-that-announced-mass-layoffs/

Over Half of the U.S.' Largest Companies Laid Off at Least 100,000 Workers This Year
https://www.newsweek.com/over-half-...id-off-least-100000-workers-this-year-1555628
(covers 50 largest companies)


Bottom Line: I have been through the boom / bust cycles in the workforce since the early 80s. Driven by Fed policy the U.S. is entering a bust cycle again. During this bust cycle there will be layoffs across small and large business and the "power" in the job market will shift to the employers. The first employees on the layoff list will be millennials who refuse to come into the office which is part of the basic expectations of the job.

Bosses admit remote workers are the first to go come layoff time
https://www.yahoo.com/video/bosses-admit-remote-workers-first-123000224.html

All occurring at record unemployment in NA and record job vacancies in Canada. Short term of course there will be layoffs in the US when the Federal Reserve is engineering a slowdown with monetary policy. A slowdown that won't last.

 

[Cuddles]

All occurring at record unemployment in NA and record job vacancies in Canada. Short term of course there will be layoffs in the US when the Federal Reserve is engineering a slowdown with monetary policy. A slowdown that won't last.

Remember when those entitled lazy assholes demanded a 401k, life and health insurance covered by an employer, 40 hr work weeks, maternity leave, OSHA protections, and the companies told them to go fuck themselves?

oh, right...

 

[gwb-trading]

This is pure bs. My daughter and many of her friends are highly successful and work remotely. They can get a job anywhere easily. You are showing your age and out of touch with what is really going on out there now. In demand people have no worries; in her case she can do quite well just on her self employed side hustles but the salaried job is just such good money she couldn't refuse it. Again though, 100% a remote job. As were her last two jobs including a management position; of course all her reports worked remotely as well, and this was before Covid was a thing. These are high quality jobs for very successful firms.

In Canada, there are a million vacant jobs right now. Employers are scrambling to find new hires, and often can't. Those who remain inflexible will suffer against competitors with more appropriate workplace rules.

You are forgetting one key factor. Executives are narcissists. They want to see the happy smiling faces of their minions in the office and be appropriately coddled by the peons.

It does not matter if an employee can be more productive at home, age does not matter, nor do other factors -- human behavior of executives who run these banks, insurance companies, tech firms, pharma companies, etc. remains the same -- they want people in the office and face-to-face.

While there may still be some firms who support remote work and getting by on video calls -- the vast majority are going to be demanding everyone back in the office during 2023 (assuming no bad Covid waves). We already see this trend in the second half of 22 -- with many companies locally in the RTP area demanding people back onsite plus many other companies such as Google having already mandated on-site work.

Keep in mind when most people were hired (pre-pandemic or even post-pandemic) it was with the corporate expectation that they would be working onsite at the company. Employees don't get to unilaterally change the deal.

Will some companies allow a hybrid approach? Time will tell. Several companies are only demanding their employees be in the office only two or three days each week currently. If this approach is successful then some companies may continue to support it well into the future -- because it meets both the narcissistic executive needs of seeing your smiling happy faces and the employees' demands to work at least part of the time remote.

 

[gwb-trading]

Remember when those entitled lazy assholes demanded a 401k, life and health insurance covered by an employer, 40 hr work weeks, maternity leave, OSHA protections, and the companies told them to go fuck themselves?

oh, right...

401K plans were put in place in the U.S. so companies could screw everyone of a traditional pension plan -- corporations were the biggest supporters of this.

In terms of Life Insurance -- keep in mind that when a company gives you 2X life insurance they are also many times taking out a policy pays off the corporation as well if you croak. This is known as dead peasant insurance. Corporate life insurance is not all altruism.

 

[Mercor]

401K plans were put in place in the U.S. so companies could screw everyone of a traditional pension plan -- corporations were the biggest supporters of this.

In terms of Life Insurance -- keep in mind that when a company gives you 2X life insurance they are also many times taking out a policy pays off the corporation as well if you croak. This is known as dead peasant insurance. Corporate life insurance is not all altruism.

In 2006, the Pension Protection Act was signed into law by George W. Bush, largely putting an end to the highly controversial practice of companies taking out life-insurance policies on employees, no matter their position in the hierarchy. This law forced companies to stop

Does Dead Peasant Insurance Still Exist?
Yes, but it’s heavily regulated. Thanks to the passage of the Pension Protection Act of 2006, employers are now required to inform low-level employees in writing of such policies, their payout amounts, and get in writing the employees’ consent. However, exceptions exist if the employees are in the top 35% of earners, own at least 5% of the company, or were paid more than $95,000. Major companies have bought life-insurance for some 5 million of employees that meet these exceptions.

 

[Nine_Ender]

You are forgetting one key factor. Executives are narcissists. They want to see the happy smiling faces of their minions in the office and be appropriately coddled by the peons.

It does not matter if an employee can be more productive at home, age does not matter, nor do other factors -- human behavior of executives who run these banks, insurance companies, tech firms, pharma companies, etc. remains the same -- they want people in the office and face-to-face.

While there may still be some firms who support remote work and getting by on video calls -- the vast majority are going to be demanding everyone back in the office during 2023 (assuming no bad Covid waves). We already see this trend in the second half of 22 -- with many companies locally in the RTP area demanding people back onsite plus many other companies such as Google having already mandated on-site work.

Keep in mind when most people were hired (pre-pandemic or even post-pandemic) it was with the corporate expectation that they would be working onsite at the company. Employees don't get to unilaterally change the deal.

Will some companies allow a hybrid approach? Time will tell. Several companies are only demanding their employees be in the office only two or three days each week currently. If this approach is successful then some companies may continue to support it well into the future -- because it meets both the narcissistic executive needs of seeing your smiling happy faces and the employees' demands to work at least part of the time remote.

I'm not forgetting anything. I'm simply relaying that I know directly of some highly successful millennials that embraced remote work and found corporate partners that bought into it 100%. I was part of the 1990s wave of increasing freelancing in IT and there is far more to it now. In the 1990s you were expected to do mostly on site work even if you didn't need to. That's not the case anymore. There is a ton you can get done simply with a lap top, some office space, and good interpersonal skills online. And companies that to some degree accept remote work have a much easier time attracting and retaining talent in a more competitive world for that talent. Of course in certain industries this is not the case.