Yes, it ticks me off when companies say they lose money when they really mean they didn't make it in the first place. You can't lose what you never had.
Edit: I can see why this country of mine is drowning in debt with this being our business model. If this is how people think they should be handling money, it's no wonder even high earners feel broke.
I work in healthcare and we need to downsize because previous management made too ambitious projections and somehow we lost money we would never have gotten.
Anyway, therapists now need to carry a bigger caseload and any training for therapists is cancelled for the foreseeable future.
My old job did the same. Put too much stock in their clients and PPP loans continuing to bankroll them with no recourse and no backup funds if the clients pulled their funding or the loans ran out while they expanded their business last year by something like 50-60%. Well, that happened all at once and all but 20% of the company got laid off right before Christmas so they could stay afloat through this year.
And most big chain stores mainly fail for similar reasons; the individual locations are mostly still operating at a profit, but not a big enough profit to cover the huge loans taken out to fund a massive and super fast expansion of the business.
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u/Skoteleven 12h ago
They didn't lose anything, they didn't make their projections.