Technology companies resume layoffs

Fernando A. Mora Guillen.

• Technology companies resume layoffs.
• Teaches COVID to travel cautiously.
• They will reduce budgets to states and municipalities.

Faced with the threat of a global recession, derived from a considerable drop in consumption as a result of the post-Pandemic financial crisis, service and technology companies such as Amazon, Alphabet, Microsoft and Twitter, among others, began to cut staff and expenses. investment.

Bank of America has reported that it has instructed executives to stop hiring, except for priority operating positions. The measure seeks to rationalize resources and streamline the operation of companies.

In this context, in Mexico the increase in the IMSS employer contribution from 3.15 to 4.24 percent, coupled with a more efficient tax policy, suggests that the generation of formal employment will be discouraged, said Rolando Silva, Vice President of the Institute. Mexican of Public Accountants.

Specialists have pointed out that although it is impossible to avoid the scenario that the United States is already going through, and that in principle favored the exchange parity for our currency, it is urgent that the Federal Government undertake actions to program public investment, as well as accelerate the payment to suppliers, and activate a development bank credit program, which will mitigate the effects that could be disastrous towards the second quarter of the year.

Take it with Interest.- The COVID-19 Pandemic marked a before and after for the tourism sector. Although the sector was forced to adopt health prevention protocols, and optimize its costs to absorb the extra expenses generated by the measures, now it must respond to a cautious and skillful market to travel that respects budgets.

In these circumstances, travelers no longer spend what they don't have. The Pandemic helped them become cautious consumers, who now plan and budget for their expenses. Gone are the days when with a credit card families could afford to enjoy an extra experience on a trip, which means that there is greater competition and intelligence to place tourist products and services from the point of origin, and not to boat soon.

Take it carefully.- According to the Moody's rating agency report and after an analysis of the Federation's Expenditure Budget, the Federal Entities Income Stabilization Fund (FEIEF) will be reduced by 43% in 2023, reducing the capacity to face eventualities or contingencies, that affect the federal participations of the States of the country.

The reduction of the fund prevents the flexibility of the mechanism to compensate for a fall in the participations linked to participable federal revenue, especially under a scenario of economic contraction, which translates into a negative risk factor for credit. Undoubtedly, difficult times will come for public finances, when priority has been given to expensive public projects for which cuts or adjustments are not contemplated.

Twitter: @Fernando_MoraG

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*Master in Institutional Communication from the Universidad Panamericana.

*Founding Member of the National College of Graduates in Journalism.

*President of the Fernando Mora Gómez Foundation for Freedom of Expression.

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