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Inflation and interest rate hikes are causing companies in many sectors to lay off employees. To illustrate the employment trends and the socioeconomic implications, each week we will list job losses.
Some of the most notable are in the growth stock sectors, which just a few months ago were pushing for more employees but are now retracting those offers. They include Twitter Inc., Redfin Corp., Uber, Meta and Coinbase Global Inc.
- JP Morgan Chase will reassign and layoff hundreds of employees in its home lending business. More than 1,000 workers will be affected.
- Netflix cuts 300 employees after weak earnings report.
- Amount has laid off 18 percent of its workforce.
- MasterClass fires 20 percent of its 600 person staff.
- CityMall lays off 191 employees.
- Notarize experiences a 25 percent staff reduction.
- Wealthsimple lays off 159 people or 13 percent.
- Bird fires 23 percent of its workforce.
- OneTrust laid off 950 employees or 25 percent.
- FarEye cut 250 of its staff.
- CVS Health let go of 208 employees.
- TomTom fired 500 people or 10 percent.
- StartTek laid off 472 from its workforce.