The market tanked and it's an opportunity to cut back compensation packages that they feel are too generous.
For the last ~6 months the Fed has been beating it over corporate leaders' heads that inflation is a big deal and it's being caused by "high salaries", and begged them for hiring freezes and layoffs to fix it.
Investors have cited the first reason[1], as have some executives.
Interest rates/inflation/recession are economy and industry wide excuses to cutback on the positive gains the labor market has made over the last few years. People who own and run companies think workers are making too much money.
Comments
The market tanked and it's an opportunity to cut back compensation packages that they feel are too generous.
For the last ~6 months the Fed has been beating it over corporate leaders' heads that inflation is a big deal and it's being caused by "high salaries", and begged them for hiring freezes and layoffs to fix it.
Investors have cited the first reason[1], as have some executives.
Interest rates/inflation/recession are economy and industry wide excuses to cutback on the positive gains the labor market has made over the last few years. People who own and run companies think workers are making too much money.
[1] https://news.ycombinator.com/item?id=34476909