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Meanwhile, on Wall Street, they’re considering a small rate hike which would mean borrowing becomes more expensive and immediate on your credit card. This has a ripple effect on everyone.
Amazon is laying off another 9,000 workers, the second-largest layoff in the company’s history. This is part of the story we’ve been seeing in technology for many months. All these companies hired during the pandemic, thinking that the world would continue to buy as it did during the pandemic, but everything changed. As a result, many, including Amazon, are now making these unfortunate layoffs.”