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Crypto Lender Genesis Files for Bankruptcy while Amazon and Alphabet are laying off 30000 Employees

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@filotasriza3
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Literally one day ago i made a post about Microsoft laying off 10000 people which is around 5% of their manpower. One day later here i am bringing the news of more layoffs from other big corporations that i am certain you are all familiar with.

Let's start with the company with the lowest number of layoffs which still is quite the number given its size. Wayfair just announced 1200 layoffs which translates to 10% of their Manpower. Adding to that Alfabet announced 12000 layoffs and to make things worst Amazon just announced 18000 layoffs.

Literally, in 2 days, it was announced that around 46000 will lose their jobs in the coming days and those numbers are only from companies in the tech industry. If we add around 300000 layoffs during 2022 we are talking of approximately 350000 people losing their jobs in a year.

As i said in my previous post the vast majority of those employees are highly skilled and will find easier than most people do another job. That doesn't mean that this isn't a stressful situation for them and their families.

Also, it's clear to everyone now that the "we are a family", "we do everything for our employees" kind of stuff are a myth, and companies couldn't care less about their people. I read many posts from people on Linkedin that got fired and what surprised me the most is that they received a cold email or account deactivation and thus learned the news.

One guy said that he was working for Google for 16.5 years and that he learned that he got fired from his account deactivation. I don't actually believe that any of these big corporations care about their people or their feelings these layoffs are proof of that. Maybe some startups or family companies have still a heart but definitely not the big ones.

Now on to more crypto-related stuff, the crypto lender GENESIS Trading files for bankruptcy protection. Last year GENESIS had many clients promising great returns but after the domino effect caused by FTX they filed for bankruptcy.

This isn't good news at all as many big crypto-related companies with millions in terms of dollars and cryptos lead people to believe that cryptos are scams, have no future and ofc puts a label of "stay out of it". Hopefully, many new companies or older ones that are surviving this chaos will learn a few things on how to evolve and what to do in order to stay in the market and thrive.

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