As a labor economist, watching people getting fired is the best part of my job
As a crematorium worker, same
Is it just me or do you guys also enjoy the whole layoffs thingie?
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At the same time the existence of the lucrative tech sector jobs provided an incentive for people to work hard, dreaming of reaching one of these hugh paid jobs someday. Take away the high paid cushy jobs and those in less prestigious jobs have little incentive to go the extra mile in their work.
Tech sector was hoarding human capital. That’s bad for the economy and society. These layoffs are good in the sense that the laid off human capital can be more optimally utilized.