- The armed conflict in Ukraine that followed the pandemic has generated a collapse of the global economy without immediate precedent.
- Inflation is one of those consequences, with price increases in all the countries of the world, especially in what is related to energy and food.
- Companies are trying to overcome the crisis with actions that, in the vast majority of cases, are linked to the hiring of personnel and the cancellation of investments.
This July 12, Bill Gates, the technology tycoon, said that the effects of the current economic context, added to the pandemic crisis, will cause a serious economic slowdown.
In an interview with the news network CNNthe founder of Microsoft spoke of the consequences of the war in Ukraine, among which he highlighted inflation, the price of gas and electricity, and the general increase in the cost of consumer products.
Google pauses hiring
In this unpromising context of the global economy, Alphabet, parent company of Google, announced that it will reduce to a minimum (only the essentials) the hiring of personnel in the second half of 2022.
With the world economy aimlessly, one of the five largest companies in the world, such as Google, said that the conditions are not right to add personnel or advance with projects in this regard, it publishes Reuters.
Alphabet (Google) is not alone in this. The decision to avoid incorporating more workers has already been made by other technology companies, such as Uber and Twitter.
This Tuesday, July 12, meanwhile, Microsoft Corp had announced that it will eliminate “some positions.”
recession is inevitable
The inflation derived from the monetary issue during the covid pandemic, added to the war in Ukraine, has unleashed this crisis.
Governments are trying by various methods to stop the fall, but the recession seems inevitable.
“I was one of the many who warned that we were not ready to face a problem like the pandemic and that we had to prepare ourselves. We didn’t do it and here we are,” Gates said in the CNN interview.
He also said that the speech in which he had warned about a pandemic was actually seen by many people. However, 90 percent of those views occurred after it had already happened.
Gates isn’t the only one warning of the problems.
Jamie Dimondone of the world’s most powerful bankers, said this week that “the economic problems will not be temporary” and that “things can get much worse.”
With 16 years at the head of JP Morgan, Dimon was the only major banker to survive the financial crisis of 2008/2009.
Asked about the recession, he said, “I don’t like to forecast, but yeah, it’s a possibility.”
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