From Exxon to Charles Schwab, white-collar job cuts are mounting

New York The pandemic has wiped out millions of mostly low-income jobs in hotels, restaurants, retail and other hard-hit corners of the economy. Now, the pink slips are spreading to higher-paid office workers.

In the last few days, ExxonMobil, Chevron , Charles Schwab and Raytheon have announced plans to cut thousands of white-collar jobs. That's on top of major layoffs already announced or reported in the press at Wells Fargo, Goldman Sachs, Salesforce , Allstate and CNN owner WarnerMedia.Corporate America's belt-tightening provides more evidence of the fragile and uneven nature of the economic recovery from the pandemic.

MattEganCNN How are the 2 people that were let go working at companies undergoing a merger & acquisition be surprised? That's what happens...consolidation. Talk about being naive.... If your company is hinting at an M&A...update your resume.

Just think, Biden wants to get rid of the oil industry. That should help. 🙄

On the contrary it shows there is no hiding place from the consequences of shutting down the economy. Something worth remembering when voting for a lockdown advocate like Biden.

Happy now CNN? Now you don’t need a green deal to crush the economy. CNN’s progressive writers are thrilled to announce the debacle of the oil industry and its repercussions on the US economy.

All due to Democrat run States and their Stupid Covid rules.

US business is taking advantage of the pandemic to effect structural changes it has been itching to make for several years but never had the ‘cover’ for doing so: replacing the skills of blue & white collar workers with automation & algorithms & generally gigifying the workforce.

I lost my job end of March and 7 months later I finally got a job. That was me applying every week and competing with 200-500 applicants. these people that will loose their jobs NOW will be 10X harder to find one... We all need to pray for them and hopefully a stimulus happens 🙏

It's about damm time. Stop passing off the costs to low level employees and customers and tighten the belt where it matters. Next cut CEO pay.

Oh, and also the extraordinarily bad handling of the pandemic and recovery ('recovery') by Republicans.

Oh it's a great time to be alive. First we had the roaring 20s now we have the 20s filled with the greatest political circus of all time. greattimetobealive

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