Paul Krugman is Wrong About the Scope of Mass Layoffs in the United States
Microsoft is near the top of this new list: (published 6 hours ago by Matthew Yoshimoto)
Professor Paul Krugman is a well known personality, mostly because of the so-called 'Journal of Record'. But Krugman also has his own blog (outsourced to a very problematic company!), where he makes his views known about politics. He does not like a Cheeto as a King. Fair enough. He has just said: "First, as I said, we haven't (yet?) seen mass layoffs except from the federal government! — but the rate at which businesses are hiring is very low by historical standards, not far above its level during the 2008-2009 financial crisis..." (when there were fewer people and many other factors were different).
He presents this graph:
When Krugman says "we haven't (yet?) seen mass layoffs except from the federal government!" he is spreading misinformation. Last night we mentioned "AI layoffs", which means even the bubble (supposed 'growth' area) is reaching its limits, even in GAFAM.
As a reader said, regarding Krugman, "care to enlighten him?"
So I took the above article by Matthew Yoshimoto, which gives a detailed breakdown of mass layoffs in 2025. "Over 184,000 tech jobs were cut in 2025" is in the headline.
That does not include all the silent layoffs, does not mention all companies, and it's limited to "Tech" (with capital "T").
Krugman would be wrong to assert the layoffs are just some "DOGE" [sic] thing or an issue that began with the Microsoft-sponsored Cheeto inauguration.
As a side note, there's online backlash right now about Microsoft's CEO giving himself a ~20% pay hike while Microsoft has 2-3 waves of layoffs per month.
This economy works well for few people, like people who can apparently spend a million dollars on lawyers in London just to attack my family and I. A few years ago society was accelerating its journey towards feudalism, boosted by COVID-19. █