America’s Employment Crisis Gets Much Worse
This is getting scary.
Google, Amazon, Microsoft, Disney, PayPal, IBM, and several other companies have announced thousands of new layoff between 2022 and 2023. Now it appears that media giant Yahoo is also looking to cut some fat at their headquarters and Americans are growing more concerned.
Will Biden go down in history as the president of unemployment?
According to The Hill, Yahoo is now planning to cut a whopping 20% of their entire staff by the end of the year because they are looking to “restructure” their business model.
Yahoo CEO Jim Lanzone explained that their decision to cut staff is not because of financial hardships but instead they want to make strategic changes to their advertising unit which has not been very profitable in recent years.
It appears that more than 1,600 will be affected by this new decision to lower their company numbers.
Lanzone explained that this new decision will be “tremendously beneficial for the profitability” of Yahoo which they believe will result in them being able to invest in other places in the company.
Neither President Biden nor his administration has addressed these massive new layoffs for an overwhelming number of some of America’s biggest companies.
“This was a longstanding issue with every variation of this company … that needed to be solved eventually,” Lanzone explained.
