In the wake of President Joe Biden’s constant boasting about his so-called “Bidenomics” supposedly working wonders for America, it turns out that 38 percent of U.S. companies are preparing to unleash massive layoffs this year. These major U.S. companies started signaling late last year that they were lowering their expectations for 2024 and are also planning to ax thousands of workers as Bidenomics continue to pummel them.
Bidenomics: Whopping 38% of Companies Say They're Likely to Have Layoffs in 2024 Due to 4 Reasons, Survey Shows
— Constitutionalist 💯 🇺🇲 (@Kc_Casey1) January 9, 2024
Unsurprisingly, layoffs are looming for major companies such as Nike, toy maker Hasbro, Roku, Amazon, Spotify, and more, according to Forbes. This dire outlook for 2024 follows a significant number of layoffs in 2023, with 65 percent of companies reporting workforce reductions, and a quarter of them shedding a whopping 30 percent or more of their employees.
But hold on to your hats, because the bad news doesn’t stop there. This year, a staggering 38 percent of companies are eyeing more job cuts, with 22 percent of them expecting to lose at least 30 percent of their workers. A further blow comes from the revelation that 52 percent of companies are likely to implement hiring freezes and not expand at all in 2024. It seems like mid-sized companies are most at risk, but all sectors are bracing themselves for imminent layoffs.
According to Resume Builder, “Business leaders at midsize companies (101 to 1,000 employees) are most likely to believe they will have layoffs (42 percent). In small companies with 100 or fewer employees, 28 percent of business leaders believe their organizations will have layoffs. At large companies (over 1,000 employees), 39 percent believe they will have layoffs.”
It’s crystal clear that Biden’s floundering economy is wreaking havoc on American businesses, with nearly 70 percent of them citing the need to cut costs as the driving force behind the impending layoffs. Additionally, 51 percent are anticipating a recession, while other reasons for the job cuts include the need to increase profits (42 percent), the push to replace human workers with AI (39 percent), and business closures (10 percent).
The horrifying reality doesn’t end there. Meltdown in the brick-and-mortar retail sector has been brutal, with nearly 3,500 store closures in 2023, according to Talk Business & Politics. Brace yourselves, because it’s not getting any better—the prognosis is a gut-wrenching loss of nearly 50,000 retail stores by 2028, according to UBS equity analyst Michael Lasser.
Amid this economic turmoil, the purchasing power of Americans has taken a hit as salaries failed to keep up with inflation, and homelessness saw the biggest spike in history.
Contrary to President Biden’s grandiose proclamations, Bidenomics is clearly a disaster that’s pummeling the business community and wrecking American workers. This paints a frightening picture for the future, and it indicates that the 2024 election is shaping up to be the most pivotal in American history.
To hammer home the urgency of this situation, General Michael Flynn issued a sobering warning, raising the possibility that the 2024 election may not even take place. This underscores the dire importance of the upcoming election, as the very fabric of American society hangs in the balance.