by Miguel
It seems that the tsunami of layoffs that began late last year is starting to pick up speed. January was a horrible month for job losses, and the major layoff announcements are coming fast and furiously here in February. But of course the Biden administration would have us believe that everything is fine. Last week, the government told us that the US economy “added 517,000 jobs” in January. But as I discussed in a previous article, that was not what actually happened. The raw and unadjusted figure showed that the US economy actually lost 2.5 million jobs last month. That’s a terrible number, but after the bureaucrats in Washington finished with their “adjustments,” it magically turned into a 517,000 job gain. If you want to have faith that their “fits” are right, good for you. But other sources also confirm that things have really gotten worse. For example, Challenger, Gray & Christmas just published a report that concluded that last month “It was the worst January for job cuts since the Great Recession of 2009”…
US companies announced roughly 103,000 job cuts in January, the highest monthly total since September 2020, according to an analysis Thursday.
Last month was the worst January for job cuts since the Great Recession of 2009, according to a report by employment firm Challenger, Gray & Christmas.
About 40 percent of the job cuts last month were in the technology industry, where the parent company of Google, Alphabet, Amazon, Microsoft and Salesforce announced plans to lay off thousands of workers. Many of the companies said they have grown too fast in recent years and must cut costs to increase profitability.
Many large companies announced staff reductions last month, and that trend has definitely continued this month.
The following are 12 major layoffs that have already been announced in February…
#1 Disney has decided to tell approximately 7,000 employees to hit the bricks…
“We will reduce our workforce by approximately 7,000 jobs,” CEO Bob Iger said during the company’s first-quarter earnings call. “While this is necessary to address the challenges we face today, I do not take this decision lightly. I have enormous respect and appreciation for the talent and dedication of our employees around the world, and I am aware of the personal impact of these changes.”
#2 yahoo has announced that it will lay off “more than 20% of its workforce”…
Yahoo will lay off more than 20% of its workforce by the end of 2023, cutting 1,000 positions this week alone, the company said in a statement Thursday.
#3 ebay he was doing pretty well, but now they’ve decided that 4 percent of their workers are no longer needed…
Ebay on Tuesday announced plans to cut 500 jobs, or about 4% of its workforce, according to an SEC filing.
#4 Say is another tech company that recently made the decision to make mass layoffs…
Affirm announced that it will cut 19% of its workforce on Wednesday. The news came as second-quarter earnings were reported that fell below analyst estimates on both the top and bottom results.
#5 As the US housing slump deepens, JPMorgan Chase has concluded that now is the time to “cut hundreds of mortgage employees”…
JPMorgan Chase & Co. laid off hundreds of mortgage employees this week, adding to industry-wide job losses as home loan companies continue to be hit by high interest rates.
#6 go daddy simply let your workers know that you plan to “reduce the size of our global team by approximately 8%”…
Today we are announcing a plan to reduce the size of our global team by approximately 8%. This will be difficult news for many valued and respected members of the GoDaddy team.
#7 Micron is one of the largest private employers in Idaho, but now intends to “reduce its global headcount by approximately 10% over the next year”…
Micron has begun laying off workers, a company spokesperson told the Idaho Statesman.
The news marks the beginning of the company’s plan to reduce its global workforce by approximately 10% over the next year. Micron CEO Sanjay Mehrotra announced during a quarterly investor conference call in December that the company is taking significant steps to reduce costs and operating expenses as demand for its core products declines.
#8 GitHub has become another victim of the downsizing trend in the tech industry…
Microsoft-owned GitHub is laying off 10% of its staff, the company confirmed to Fortune.
#9 nomad health You just laid off roughly 20 percent of your entire corporate workforce…
Nomad Health, a healthcare staffing startup, laid off about 20% of its corporate workforce this week, according to four laid off employees, as the surge in roving nurses and other temporary healthcare workers brought on by the pandemic cools. .
#10 Zoom is giving the ax to approximately 1,300 workers…
Zoom said on Tuesday it will lay off about 1,300 employees, or about 15% of its staff, becoming the latest technology company to announce major job cuts as the surge in demand for digital services caused by the pandemic subsides.
#eleven Boeing Supposedly it was going to hire more workers, but instead the company just announced that thousands of finance and human resources positions will be cut…
“We expect around 2,000 reductions this year primarily in finance and human resources through a combination of attrition and layoffs,” Boeing confirmed Monday.
#12 Remember when Dell computers were still popular? Unfortunately the tide has turned and now Dell has been forced to lay off 6,650 workers…
Dell Technologies Inc. is cutting about 6,650 jobs as it faces a plummeting demand for personal computers, becoming the latest technology company to announce thousands of job cuts.
I could go on and on if you want.
There are countless other companies that have just announced major layoffs as well.
We haven’t really faced economic conditions like this since the Great Recession, and a recent Gallup poll seems to underscore this point…
Reflecting on their personal financial situation, 35% of Americans say they are better off now than they were a year ago, while 50% are worse off. Since Gallup first asked this question in 1976, it’s been rare for half or more of Americans to say they’re worse off. The only other times this occurred was during the Great Recession era in 2008 and 2009..
Unfortunately, we are still in the early chapters of this new crisis. As I have been warning for yearsthings will eventually get much worse.
Our leaders have been making incredibly bad decisions for decades, and now we are going to suffer the consequences of those bad decisions.
This generation was handed the keys to the greatest economic machine the world has ever seen, but we destroyed it.
Now the chickens are coming home to roost, and most Americans aren’t prepared for what comes next.
