Wayfair lays off 13% of its workforce weeks after telling employees to work harder::Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns.
Close call! I thought the poor shareholders would be affected. All is good in the world again.
You do know a majority of investments are people’s retirement savings? Pension providers compete with each other to offer the best returns, moving to the shares that offer the best outlook for dividends and growth; we are the snake eating its own tail. If you want to one day save up for retirement, you are are a part of this.
Boy do I have news for you. Most retail investora want flashy charts, and they will pay higher fees to see them. They have no idea what they are charged or how it affects their returns.
What does that have to do with my argument?
And almost all of that private pension wealth is held by the richest 10%, barely any by the poorest 50%.
Stop mugging yourself off.
It’s sad that the poorer part of our population can’t save for retirement. I wish it was different.
But I think you’re implying that because wealthy people can save more, it’s ok if wealthy people lose their savings. If that is truly the case, I don’t think we will gain much from a debate on that topic - and I actually don’t think it changes my point above anyway.
I’m not 100% ok what you mean when you suggest I stop mugging myself off. Are you implying that I’m naive about who holds pensions? I’m not - it’s obviously the more well off that can afford to save more.
But I would caution a little bit against taking an absolutist view on this. Someone on minimum wage saving 10% of their income into a retirement fund will inevitably end up with a smaller position (in absolute terms) than someone on a six figure salary. In relative terms they might be in very similar positions though.