WHEN THE ECONOMY FALLS JOBS GO WITH IT

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.

• Seagate the largest producer of hard drives is laying off 3,000 staff
• Olymel cut 177 administration positions
• Umpqua Holding Corp. cut 100 jobs in its mortgage group
• Zymergen undergoes 110 cuts following Gingko merger
• Medicago cuts 62 jobs bringing the total layoffs in NC to more than 3,250
• Cybereason is laying off another 200 employees
• Credit Suisse is cutting 9,000 jobs
• Zillow is cutting 300 jobs 
• Intel plans to cut a “meaningful amount” of employees and ditch some of its products to cut spending
• Electrolux is planning to shrink 8 percent, cutting 3,500-4,000 workers
• 54Gene cut 50 percent of its staff affecting 100 people
• Stellantis is offering voluntary employment termination packages to certain salaried positions
• Argo AI to layoff 173 staff
• Electrobras offers voluntary buyout to 2,300 employees
• Massey University proposed a restructuring program potentially affecting 72 staff, strikes have ensued
• AAG undergoes its third round of layoffs this year
• Heart Hospital is laying off 114 employees
• Corewell Health cut about 400 positions
• Yale Health eliminated 155 management positions
• Commonwealth Health will lay off 245 employees when it closes facilities at the end of October
• St. Vincent Charity Medical Center in Cleveland will lay off 978 workers when it ends many services in November
• Ascension is closing some facilities, a move that will affect 133 employees
• University Hospitals announced efforts to reduce system expenses by $100 million, including the elimination of 326 vacant jobs and layoffs affecting 117 administrative employees
• Cape Fear Valley Health is eliminating 200 positions
• Sanford Health announced layoffs affecting an undisclosed number of staff
• Twitter plans to let go of 25 percent of staff in first round of layoffs
• BBC is cutting local coverage causing dozens to lose their job
• Birkbeck University threatened to sack 140 staff