After great resignation and quiet stop, there are ‘loud layoffs’

Shocking layoff news overshadows a bright labor market. Within weeks, massive layoffs, mostly in the technology sector, including at Twitter, Meta, Amazon, Salesforce, HP, Lyft, Doordash and more, have made headlines. More than 50,000 tech workers lost their jobs in November, up from 12,600 in October, according to Layoffs.fyi. To be clear, the total number … Read more

‘Get into preparation and planning mode’

Big Tech layoffs have upset staff, with companies like Meta, Twitter, Lyft, Coinbase and Netflix all letting some of their staff go. And unfortunately they are not alone. Many giants in industries such as banking, real estate, food service, advertising and retail have, or are planning to cut their companies’ headcounts amid inflation and a … Read more

On Tik Tok, ex-Twitter, Meta employees share layoff experiences

Thousands have been fired from Twitter and Meta (File) Washington: Former employees of companies including Meta Platforms Inc. and Twitter Inc., take to TikTok to provide an unfiltered behind-the-scenes look at the massive layoffs hitting the tech industry. A video of someone claiming to be an ex-Twitter employee inviting viewers to “stand with me and … Read more

The Mississippi-based furniture company is laying off 2,700 workers

TUPELO, Miss — A Mississippi-based company that had become one of the nation’s largest furniture companies has laid off nearly all of its workforce. About 2,700 workers, most of whom live in northeastern Mississippi, lost their jobs Monday, according to the Northeast Mississippi Daily Journal. Just days before the Thanksgiving holiday, United Furniture Industries sent … Read more

HP says it will lay off thousands of workers in the coming years

CNN affairs — HP Inc. announced Tuesday that it will lay off thousands of employees over the next three years, becoming the latest technology company to significantly reduce its workforce in an acidifying economic climate. The computer maker announced the major job cuts in a statement accompanying its meager quarterly earnings on Tuesday afternoon, in … Read more

Twitter: Elon Musk defends mass layoffs and says he had ‘no choice’

Elon Musk, the new owner of Twitterhas defended firing about half of the online platform’s staff, saying he had “no choice”. According to Yoel Roth, head of security and integrity at the social media giant, 50% of Twitter employees were laid off on Friday. In a Tweet, Musk said “in regards to the reduction of … Read more

Dapper Labs lays off 22 percent of staff

Vancouver-based tech startups Dapper and Hootsuite both fired this week. Dapper Labs has laid off about 22 percent of its staff, BetaKit has learned. The company confirmed the layoffs at BetaKit, noting that they were part of a broader strategy reorientation and reorganization of teams. The move makes Dapper Labs the second major tech … Read more

Moody’s Mark Zandi sees relief within 6 months

According to Mark Zandi of Moody’s Analytics, the US will halve inflation within six months. His call, which comes on the eve of another major inflation report, hinges on oil prices remaining at current levels, supply chain problems continuing to ease and car prices starting to rise. Everything else can stay the same, according to … Read more

If the job market is so good, why is there so much talk about layoffs and rising unemployment?

Right now, almost anyone who wants a job can find one, but it won’t be long before more people start losing them. Sounds contradictory, right? Yes, but MarketWatch explains. How good is the US job market right now? Excellent. The economy has regained all the 22 million jobs lost during the pandemic, and then some. … Read more