I'm starting to see friends made jobless - I think a recession is creeping in

[PNGMK]

Any one else see this?

[Wd40]

There have been job losses in tech last 2 years due to over hiring in the pandemic. This was during a booming economy.

I can't imagine what will happen during a recession. It has been a long time since we had a recession, I think 2008 and the 2012 Euro crisis which impacted the banking sector were the last recessions I saw.

I know OP is offshore oil dude and his industry has been in recession since 2014. But other industries I am not sure.

[PNGMK]

I am oddly enough not jobless but I do see more and more SC being squeezed. Apparently the gahmen policies which are pushing manufacturers and service companies out are too blame.

[YYCole]

I think tech side, beside over hiring, is the increasing rates environment, which also result in VCs and PE funds not raising money, or taking profit on their positions to reinvest into companies. And thus without the investors new money into the sector, the growth without profit mindset is taking a beating and thus now have to start taking profitability of the business more seriously than to grow at all expense. And this resulted in rationalizing of labour and cost, thus more people are being let go.

[abbby]

Any one else see this?

In Singapore?

My friend is saying there's a recession end of this year...not sure how true..

[bxagw]

There's no way gov here will let recession hit them. 2008? This particular year was bad for some countries but ovsr here, still business as usual, albeit slower growth. They had and will pump the economy with lots of construction project to ensure money flows to businesses, we saw the same right now with housing and mrt construction projects everywhere. They also monetized everything that attract tourists, be it concert, world leaders' visit (wink wink) and more concerts XD

[YYCole]

Any one else see this?

In Singapore?

My friend is saying there's a recession end of this year...not sure how true..

Depends on when the election is..