In keeping with the trends of 2022, this year opened with more announcements of layoffs in all kinds of sectors. Corporate law firms in the City have hinted they might follow in their US counterparts' footsteps and start sacking staff. Amazon has declared it will let more than 18,000 people go. And Goldman Sachs has announced what could be the biggest round of layoffs since the financial crisis. Given these are all sectors with usually lofty profits, one might wonder what will happen to hospitality, the creative industry and other sectors whose dividends are not as high. Companies like Goldman Sachs, and sectors like tech, tend to invest a lot of money into new skilled employees and innovation when times are good, and can be obliged to scale back when times are bad. That's part of the process. In other words, they live feast to famine, while other sectors such as hospitality tend to favour steady levels of staff and investment and squirrel extra cash away because they know windfalls can be far and few between.

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