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Thanks for agreeing with me! But I do know that we are in an economy that is overwhelmingly driven by consumer consumption. Reduced demand from lower household income is bad for the country in the long-term. The wealthy can only consume so many burritos!
9 months, 3 weeks ago on ESPN reportedly laying off hundreds of employees
And I think you mean "employs almost 4,000", not "employees"
I'm no economist, but let me see if I understand this:
Lower Profits = "Reducing" (firing) employees;
Fewer jobs = Less spending in the economy;
Less spending = Lower sales;
Lower sales = Lower Profits;