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Rebel Capitalist News

News: This Is An Ominous Sign For The Labor Market

Rebel Capitalist News

George Gammon

Business, Investing

4.71.1K Ratings

🗓️ 17 May 2024

⏱️ 12 minutes

🧾️ Download transcript

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Transcript

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0:00.0

Hello, fellow rebel capital soap you're well.

0:02.8

So I just came across some articles referencing the labor market that I wanted to share with you.

0:09.7

I think this is a rather ominous sign that we could be seeing and I also want to share a personal story,

0:16.8

anecdotal story that may give you some information that you would find interesting on this topic.

0:24.2

So let's first and foremost do a quick screen share.

0:27.4

We're going to go over to the AP.

0:29.6

This is the article I was referring to Walmart layoffs, lays off hundreds of employees and requires

0:34.7

other to relocate. And we'll just go through, I don't have any highlights, it's very

0:39.8

short article. Walmart on Tuesday announced layoffs affecting several

0:43.4

hundred jobs at the retail giant's campus offices. It also said it will require

0:48.9

most remote workers and personnel in its Atlanta, Toronto offices to relocate to its primary offices in Arkansas, Jersey and San Francisco.

1:00.0

The news conveyed via Walmart's staff memo associated press.

1:05.0

Let's see, the quote from their memo bringing more of us together more often.

1:09.2

So this is something that I have heard a lot of insiders referencing not Walmart specifically

1:17.2

But I know a lot of guys in the digital marketing space and some of these guys have really big agencies and they have clients like a lot of

1:26.8

Fortune 500 companies and what they're hearing from their clients is yes we were allowing people to work from home but now we're bringing them back into the office not all of them

1:37.1

But a lot more than we had before because

1:41.7

productivity they see more productivity with people coming into the office and right now their revenues are

1:46.5

declining.

1:47.4

Their profits are declining.

1:49.6

So they have to get more out of the employees they have.

1:54.0

And that's this trend that I think will continue

...

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