Massive Wave Of Insolvencies And Bankruptcies In Retail And Large Business Chains.
Right now, we are witnessing so much turmoil is so many different sectors of our economy.
The housing market is crashing, the cryptocurrency industry has imploded, the tech industry is laying off workers at an extremely frightening pace, and some of our most important retailers are heading into bankruptcy.
In this video we will show you the factors that are causing the Massive Wave Of Insolvencies And Bankruptcies In Retail And Large Business Chains.
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The information that I am about to share with you is deeply troubling. It has become exceedingly clear that our economy is in huge trouble, and I fully expect that our problems will accelerate even more as the year rolls along.
Amazon has sacked more than 18,000 workers, Microsoft this week announced thousands of job cuts, becoming the latest tech company to cut its workforce in the face of the global economic slowdown.
Microsoft reported that the layoffs would affect approximately 5% of its workforce, with some notifications taking place as early as this week.
Even more alarming is the fact that Tesco’s declaration to go into administration has become “likely” in the coming months.
Added to this, more than 2,000 jobs are at risk at Tesco, which is announcing further changes to the management of its supermarkets within days.
Last week, Asda, Britain’s third largest supermarket, said it planned to lay off 200 night shift managers and change the hours of 4,000 workers.
Other big firms have been in talks with potential buyers and lenders as it works to keep its business afloat during a likely bankruptcy filing, according to people familiar with the matter.
The wave of layoffs we are witnessing in the tech sector is unprecedented.
So far, more than 25,000 workers in the sector have already been laid off this year, following last year’s mass layoffs.
At the moment, almost everything is going in the wrong direction for the world economy, but most people still do not understand the big picture.
The wave of layoffs and bankruptcies around the world is due to a combination of factors, including the COVID-19 pandemic, the Russian invasion of Ukraine, inflation, currency devaluation, over-indebtedness making debt repayment difficult, economic and financial uncertainty, declining economic activity, increased regulation and supervision, and falling incomes.
Long days of strikes by the different trade unions and threats of layoffs are what you hear and see in the news these days.
Many “experts” assume that we will only suffer a temporary recession and that things will be back to normal in a couple of years.
I wish it were true, but deep down we all know that getting the economy back to 2020 levels will not be easy.
Unfortunately, our whole system is beginning to crack and crumble around us, and those who currently run things will not be able to put it back together.