Reality is hitting hard across the United States as store closures and layoffs surge. Macy’s is set to shutter 150 stores in response to shifting consumer habits and the rise of online shopping, while Intel has announced layoffs of 2,000 employees in the U.S., with a staggering total of 15,000 job cuts planned globally.
In 2024 alone, over 2,000 stores are closing across the country, including:
- Family Dollar: Shutting at least 600 stores.
- 7-Eleven: Closing 444 locations.
- CVS: Axing 300 stores in a three-year plan.
- LL Flooring: Cutting 200 stores.
- Express and Foxtrot: Facing financial struggles, leading to closures.
Layoffs are equally alarming, with major companies announcing significant job cuts:
- Boeing: 17,000 layoffs.
- Amazon: 14,000 jobs eliminated.
- TikTok: Workforce reduced by 500.
- Verizon Communications: 4,800 layoffs.
- General Motors: Cutting 1,695 jobs.
- PwC: 1,800 workforce reduction.
- Intel: A total of 15,000 layoffs.
Despite these sobering developments, many media outlets are still publishing optimistic stories about the economy, touting strong data and growth projections. However, the harsh reality of rising inflation and widespread job losses tells a different story
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