Bidenomics update: Hope you like layoffs and cereal for dinner
By
Zachary Faria
February 28, 2024 2:20 pm
President Joe Biden has been staking his reelection campaign on “Bidenomics.” Apparently, that means layoffs across multiple sectors and having to eat cereal for dinner.
Several companies have recently cut the jobs of hundreds of employees, including Paramount Global, YouTube, Warner Music Group, Universal Music Group, Pixar, and the Los Angeles Times. Others have cut thousands of jobs: Cisco is planning to cut 4,250 jobs, PayPal is cutting 2,500 jobs, Microsoft will be cutting 1,900 jobs from its gaming unit, and eBay is laying off 1,000 people.
Another video game company, Sony Interactive Entertainment, announced on Tuesday that it would be cutting 900 jobs, which includes canceling multiple video game projects that were in the works.
Meanwhile, half of renters (about 22.4 million) are spending more than 30% of their income on rent. Along with that, food prices have jumped, with the Bureau of Labor Statistics finding a 10% jump in food prices from 2022 to 2023. Kellogg’s CEO Gary Pilnick is now trying to use high food prices as a marketing tactic, encouraging lower-income families to eat cereal for dinner because it’s “much more affordable.”
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https://www.washingtonexaminer.com/opinion/beltway-confidential/2894081/bidenomics-update-hope-you-like-layoffs-and-cereal-for-dinner/
