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The answer is AI and I don’t mean Allen Iverson (double entendre)
Coach
Yeah that’s not it.
Two words: corporate greed. All across corporate America they've learned that they can stay understaffed, overload their employees (nobody wants to leave because there are no jobs) and turn a higher profit. Capitalism at its finest
My guess is that analysts on earnings calls became overly enthused with the idea that layoffs translate into profits. At least a lot of leadership took that as the message. It's not only in banking, of course. Whether or not companies engaged in spasms of layoffs, they seem to have adopted an unspoken hiring freeze and a practice of reducing the workforce by attrition.
If I were to guess…give us another solid quarter. Companies are still nervous about the future of my economy. But I also agree with corporate greed