2020 Recession - Global Lay off started now - first airlines

Just ordered some grocery on Amazon Fresh. To my surprise, all time slots on the next three days are available! Never seen so many slots. A month ago I would check for days without one single slot open. Looks like Amazon has indeed hired tons of delivery people.

:muscle:

We ordered Chinese grocery on Weee and their delivery capacity is weak sauce. Hasn’t improved during this SIP period. In fact it has steadily gotten worse as more people know about them and shop with them. Are they too stingy in pay? What’s going on there? Amazon is king bar none of logistics. It’s hard shit.

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CEO is only waiting because of he has to wait till Sept 30 due to govt money that Southwest accepted.

https://www.seattletimes.com/business/local-business/seattle-based-holland-america-line-announces-2000-layoffs-other-measures-as-coronavirus-halts-cruise-sailings-worldwide/

https://www.miamiherald.com/news/business/tourism-cruises/article242735236.html

The company has about 1,800 employees, primarily based in San Francisco.

The cuts are expected to primarily come from outside the company’s engineering operations, including recruiting and human resources.

ugh one of my friends works for them…hope they are ok

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Recession imminent in USA with all unlimited supports.

Germany’s gross domestic product shrank by 8.6% in the first quarter on an annualized basis. Since fourth-quarter figures were revised to show a small contraction, Friday’s data indicates that Germany is now in recession.

France, Italy and Spain posted annualized declines of 21.4%, 17.7% and 19.4% respectively. The Netherlands—which is the eurozone’s fifth-largest member—Friday said its economy shrank by 6.6% in the first three months of the year.

The eurozone economy as a whole contracted by 14.2%, while the U.S. economy shrank by 4.8%.

Regarding China, from another wsj news: “The recession could be longer than expected,” said Ms. Pang, who predicts China’s economic output in the second quarter will be down 3.1% from a year earlier, following the dramatic 6.8% first-quarter contraction.

4.8% actually isn’t that bad considering how much was shutdown. Also, if you look at the data half of it was due to lower healthcare spend. Half was due to higher consumer savings rate. Healthcare is opening back up to non-emergency procedures, so that’ll bounce back. People saving will just turn into future spend.

I have been looking for steals and deals. No panic selling. In fact RE is holding tight. Low inventory.

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Smooth move Newsom.