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Dragflation: Economic growth declining and inflation rising… plus the pressure of interest rate hikes that are drying up the cheap money pool 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:
- Wells Enterprises will lay off 320 employees
- Second Samuel Transport will cut 145 jobs
- North Carolina Power Home Solar LLC. is eliminating 500 positions
- Zappos announced layoffs that could impact between 4-20 percent of its staff
- Ada will cut 78 workers
- Pixelle Specialty Solutions will be cutting 230 workers in first quarter of 2023
- Centura Health laid off 350 people
- Bustle Digital Group laid off 19 employees
- Nordstrom will layoff 231 people
- Steelcase is cutting 180 salaries positions
- Meta is undergoing restructuring resulting in layoffs
- Boeing will eliminate 150 jobs
- Kitty Hawk is shutting down
- Curative is cutting 109 jobs
- VideoAmp is shrinking 2 percent
- DreamBox Learning, DayTwo, LivePerson and WorkRamp have reportedly started layoffs according to LinkedIn users
- Netflix cuts another 480 workers
- Twilio cuts 800 jobs
- Patreon fired 80 employees
- Squibb plans to cut 261 jobs
- Hootsuite cut 30 percent of staff affecting 400
- Qumulo cut 80 jobs
- New Relic loses 110 employees
- Snap announced a 20 percent cut in staff, about 1,300 employees
- ShipBob laid off 7 percent of staff
- DataRobot announced a second round of layoffs
- Ford confirmed 3,000 salaried job cuts
- Wayfair is cutting 870 workers
- Apple laid off 100 contract-based recruiters as it slows hiring
- SoulCycle cut 75 staff
- Signify Health will layoff 500 workers in four states
- Gannet is laying off dozens of journalists
- BestBuy is cutting hundreds of store based jobs