Big Banks Recommend Layoffs to Deal with Rising Wages

As wages get more expensive, the incentive is to find ways to buy less labor. This has resulted in big banks cutting staff and advising other companies to do the same in order to keep their costs in check. As wage inflation persists, more and more companies may end up doing the same.

Sources:
https://www.cnbc.com/2022/01/18/goldman-ceo-says-he-sees-real-wage-inflation-everywhere-after-33percent-jump-in-pay-expenses.html
https://www.bloomberg.com/news/articles/2022-01-20/bofa-s-job-cuts-offer-a-road-map-for-navigating-higher-costs?srnd=premium
https://youtu.be/_OtZ49i-yyk?t=1171

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#wages #inflation #workforce