Independent thinking for complex markets and current events
More pain for the Bay Area tech sector as another company announces layoffs — this time a staggering 23% of the workforce. The San Mateo action-based camera maker GoPro will let nearly a quarter of its workforce around the world go by the second quarter of 2026, according to a filing with the Securities and …
US mass layoff warnings are rising at a concerning pace: 39,006 Americans were given advance layoff notice in October, the 2nd-highest since the 2020 pandemic. These notices are issued under the Worker Adjustment and Retraining Notification (WARN) Act, which obligates covered employers to provide at least 60 days of notice before a mass layoff or …
The real estate market is already starting to feel the impact of the massive layoffs at Amazon as some homeowners and buyers begin scrambling to deal with the fallout. KIRO 7 spoke with a pair of real estate brokers whose clients were among those laid off. They are already getting calls about selling their homes …
On Tuesday, Amazon confirmed plans to cut about 14,000 corporate jobs as the online retail giant ramps up spending on artificial intelligence. It’s the first wave in a mass layoff that’s expected to slash 30,000 Amazon positions, or 10 percent of the corporate staff. ‘Some may ask why we’re reducing roles when the company is …
Btw, only 20% of high school grads in Chicago can read at grade level. — American AF 🇺🇸 (@iAnonPatriot) July 14, 2025
Whirlpool Corp. has announced it is letting go of 651 workers from its manufacturing facility in Amana, effective June 1, in the largest single Iowa layoff since Tyson Foods last spring shut down its 1,200-worker pork plant in Perry. A statement from Whirlpool blamed the layoffs on reduced consumer demand, primarily refrigeration units. “This is …
2 million government workers received notice this week by the Office of Personnel Management that they would be required to to return to the office for work or forfeit their jobs. But the legality of this mandate is already being challenged and there is a lot of uncertainty surrounding this. However, what people need to …
BREAKING: The median duration of unemployment in the US rose to 10.5 weeks in November, the longest in 3 years. At the same time, the average unemployment duration rose to 23.7 weeks, the highest since April 2022. Both metrics have been now rising at the pace previously seen at the onset of the last 4 …
DENVER — Delivery workers are usually in high demand when the holidays roll around, but the story is different at UPS, which recently told state officials that hundreds of layoffs are coming at the beginning of next year. In a letter signed Thursday of last week, a human resources employee for UPS told the Colorado …
SEATTLE (AP) — Boeing has delivered layoff notices to more than 400 members of its professional aerospace labor union, part of thousands of cuts planned as the company struggles to recover from financial and regulatory trouble, as well as an eight-week strike by its machinists’ union. The pink slips went out last week to members …
Boeing said on Wednesday it is issuing layoff notices starting this week to workers impacted by a broader plan by the heavily indebted planemaker to cut 17,000 jobs, or 10% of its global workforce. U.S. staff receiving the notices this week will stay on Boeing’s payroll until January to comply with federal requirements that give …
2024 has already exceeded last year’s gaming layoffs — and at twice the pace More developers are pessimistic on the market and see a lack of understanding from investors as the biggest culprit Live services are integral to bottom lines and have informed recent M&A deals, but they come with unrealistic expectations The first quarter …
Wow UK Payrolls -85,000, unemployment up to 4.3% Employed persons -177K Global cuts shifting to 5th gear soon?#MacroEdge https://t.co/1rYIcxxCP7 — Don Johnson (@DonMiami3) May 14, 2024 The UK labor market buckles under the weight of staggering unemployment figures, with payrolls plummeting by a jaw-dropping 85,000 and the unemployment rate skyrocketing to 4.3%. Employed persons take …
BREAKING: Google plans to layoff thousands of employees in their finance, business operations due to AI. They also plan to offshore to India, Mexico, and Ireland pic.twitter.com/wySla41WH1 — Financelot (@FinanceLancelot) April 18, 2024 The layoff spree in the tech industry is showing no signs of slowing down as Google announced restructuring plans, which involve some …
For Tesla, the layoffs come following a disappointing Q1 delivery report that showed the company missed widely on consensus estimates and built up supply in excess of 46,000 vehicles. This implies that Tesla is feeling the impact of slowing EV demand, both in the US and globally, after reporting its first year-over-year quarterly decline in …
Tesla shares dropped this morning after the firm announced plans to lay off ‘more than 10 per cent’ of its global workforce as demands for its electric vehicles start to falter in a highly competitive market. CEO Elon Musk sent a company-wide email over the weekend announcing the layoffs, tech publication Electrek reported on Monday. …
From Peter Reagan for Birch Gold Group There are so many signals that point to the possibility of entering a near-term recession, they are hard to ignore. Unless you choose to follow Paul Krugman’s lead and stick your head in the sand. But let’s look at the economic situation in this country from another perspective: What if the United …
Google is actively engaged in advancing its AI model, but recent indications suggest that the tech giant is not just focusing on AI development for external applications but is also contemplating a significant shift in its operational structure. According to a recent report from The Information, Google is considering a substantial workforce reduction, potentially affecting …
by Michael Is your job safe? According to the Bureau of Labor Statistics, there were more than 13 million layoffs and discharges in the United States during the first nine months of 2023, and now “layoff season” has arrived. As the end of the year approaches, companies start taking a hard look at the bottom …
This year, we have seen 250,000 layoffs in tech. Between 2022 and 2023, ~415,000 tech layoffs occurred. However, the layoffs were vastly limited to tech over the last couple of years. It may now be spreading. Follow us @KobeissiLetter for real time analysis as this develops. — The Kobeissi Letter (@KobeissiLetter) November 17, 2023 Mortgages …
Will occur over the next couple years. IBM CEO Arvind Krishna announced a hiring pause in May, but that’s not all. Later that month, the CEO also stated the company plans to replace nearly 8,000 jobs with AI. Krishna noted that back-office functions, specifically in the human resources (HR) sector, will be the first to …
Guest Post from Wolf Richter at WolfStreet.com: Where does the money come from? They now out-earn inflation, they earn interest income, and they dipped into their assets whose prices ballooned over the years. Consumer spending, adjusted for inflation and for seasonal factors jumped by 0.5% in April from March, after two months of declines and …