Mass layoffs driven by Wall Street's demand for cost-cutting measures are causing suffering and fueling far right authoritarianism. However, they are not inevitable and can be stopped. A new book by Les Leopold highlights the urgency of addressing this issue.
There’s a huge and ubiquitous problem we’re not talking enough about: mass layoffs . The Bureau of Labor Statistics defines mass layoffs as 50 or more workers filing for unemployment insurance at a single company during a five-week span. Millions of workers have experienced them over the past several decades. Mass layoffs are driven by Wall Street ’s incessant demand for cost-cutting measures to service debt payments and fund stock buybacks. The consequences of ignoring mass layoffs are enormous.
Not only do they cause suffering and trauma for working families who experience them, but they are fueling the growth of far right authoritarianism. However, mass layoffs are not inevitable. They are the products of policy choices, and they can be stopped. Wall Street’s War on Workers: How Mass Layoffs and Greed Are Destroying the Working Class and What to Do About It, by longtime labor educator and author Les Leopold. The book is rooted in extensive research and numerous interviews with workers, and it represents an urgent plea for progressives — and the Democrats — to take the problem of mass layoffs much more seriously
Mass Layoffs Wall Street Cost-Cutting Measures Working Class Far Right Authoritarianism Policy Choices Urgent Plea Book
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