March 31, 2026
Wall Street Loves a Layoff!
On average, large tech companies enjoyed a 5.6% share price increase in the month following announced job cuts. When Block laid off 4,000 workers (40% of their workforce) Jack Dorsey blamed AI; others blamed over-hiring. Recent antidotal evidence shows job hunters accepting significantly less pay for the same work of their last job. Despite years of economic growth employment has become increasingly tenuous. As stock packages mint billionaires in the C-suite, workers and communities increasing carry the economic risk.