Batten down the hatches: We're facing 'economic headwinds.' Why are so many corporate leaders suddenly using this euphemism when announcing layoffs?
An atmospheric disturbance is whipping through the job market. When Volvo announced it was cutting more than a thousand jobs last year, its CEO cited a particular phenomenon for the cuts. When the founder of the Messenger announced to his hundreds of employees that they were all laid off without severance, less than a year after the online publication booted up, the same weather pattern got the blame. Chief executives at accounting firms, cookie companies and Crypto.
the online database of the Securities and Exchange Commission, confirms that economic headwinds are being evoked more now than ever. In the 2000s, only a slight breeze was blowing, with public filings showing a handful of economic headwinds mentions. Things picked up in 2008 and 2009, as the financial crisis battered corporate America, but conditions seemed to subside in the middle of the last decade. Then high interest rates rolled in.
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