The following is sponsored content by Stansberry Research.
Have you seen the massive number job cuts taking place right now in the tech industry?
Money manager Charlie Bilello posted a list recently, and the numbers are stunning:
- Twitter is cutting 50 percent of its workforce (about 3,700 jobs).
- Facebook is cutting 11,000 jobs–its largest round of layoffs ever.
- Snap is cutting 20 percent of its workforce (1,200 jobs).
- Shopify is cutting 10 percent of its workforce (1,000 jobs).
- Netflix cut 450 jobs.
- Microsoft and Salesforce are each cutting 1,000 jobs.
- Robinhood is cutting 31 percent of its workforce.
- Tesla is cutting 10 percent of salaried workers.
- Lyft is cutting 13 percent of its workforce (700 jobs).
- Redfin is cutting 13 percent of its workforce.
- Coinbase is cutting 18 percent of its workforce (1,100 jobs).
- Stripe is cutting 14 percent of its workforce (1,000 jobs).
And in addition to these massive cuts, Bilello says Amazon has announced a hiring freeze, Apple has paused almost all hiring, and Google is reducing new hiring by 50 percent.
But here’s the really scary part…
According to Bill Bonner, a 73-year-old ultra-successful entrepreneur whose companies employ thousands of people around the world, these layoffs are just getting started and are just the beginning.
In fact, Bonner says the next phase of this crisis is going to come from a place few people are even thinking about right now.
Bonner says what’s looming close on the horizon will catch almost everyone by surprise and could lead to some very difficult years in American history.
You’re unlikely to hear this message anywhere else, and the mainstream press likely won’t report on it for many months to come, when it’s far too late.
Get the facts, and don’t get caught flat-footed. Bonner says there are 4 critical steps every American should take immediately to prepare for what’s to come.
Massive layoffs and collapsing stock prices are just the beginning.
We are in a very strange period of time in America right now, and Bonner says it’s about to get worse.