2023 wave of layoffs have a purpose: to reset inflated salaries

The Great Resignation between 2020 and 2022 was a turning point for many workers. The tight job market and low unemployment rate gave people the power to demand higher salaries and better benefits. Employers were scrambling to hire and retain top talent, leading to an inflation in salaries across the board.

But now, as the job market has shifted and unemployment has risen, the tables have turned. Big companies are using layoffs as a way to send a message to the job market: they are in control. By shedding excess staff and creating a surplus of available workers, these companies are able to reduce salaries and negotiate better deals with new hires.

It's no secret that salaries have grown out of control in recent years, making it difficult for companies to stay competitive. By resetting salaries to more reasonable levels, companies can remain profitable and continue to grow.

It's clear that the layoffs we're seeing in 2023 are not just random events, but part of an orchestrated strategy to reset inflated salaries and regain control of the job market. While it may be painful for those who have lost their jobs, it's important to remember that this is the natural ebb and flow of the job market and that better opportunities will arise in the future.