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This is week 29 of our reporting the long trend-line of layoffs that signal a further economic downturn in a country near you. Rising inflation and rising interest rate hikes are causing companies in many sectors to lay off employees.
The implications will be felt across the hospitality sector, the businesses that rely on business travel and commuters. And of course, the more people fired, the more home foreclosures, inability to pay car loans, credit card debt, etc.
More than a dozen major retailers are expected to close at least 800 stores across the US. Bed Bath & Beyond contributed to more than 416 of those locations.
● Ericsson to cut 1,400 jobs
● Google India laid off 453 employees
● Lenovo Group Ltd.’s profit fell for the first time in 3 years forcing them to send out warnings
● Eastman cut 200
● Bank of America plans cuts in its investment bank potentially affecting less than 200 staff
● DocuSign to cut 10 percent impacting 700 employees
● Impossible Foods cut 132 workers in California
● The RealReal closes Union Square store and cut its San Francisco office space laying off 230 staff
● Micron doubles its layoffs now at 15 percent
● Convoy entered its third round of layoffs in the last year and will close its Atlanta office
● FoodPanda announced an unknown amount of cuts
● Dentsply Sirona cut 10 percent of its staff affecting 1,500 workers
● Groupe TVA announces 240 job cuts
● KPMG to lay off 700 in US
● Wix laid off another 370
● Wartsila cuts 300 in restructure
● Sprinklr cut 4 percent affecting over 100 employees
● SNDL cut 85 positions
● Civic Financial Services LLC cut 200 staff
● Polygon Labs lost 100 staff
● Lenovo executive says he will make workforce adjustments
● Michelle Wine Estates shrunk 5 percent losing 50
● Chipper Cash enters its second round of cuts
● Beam Benefits loses 31 staff
● Divvy Homes announced cuts
● RGL Logistics cut 70 in Green Bay
● Dentsply Sirona announced a possible 1,500 layoffs
● Lidl cut 200
● Collective Health lost 54 staff
● Smartsheet Inc. fired 85 employees
● FeedMore cut 51
● Coyote Logistics cut 200 staff
● Digimarc lost 40 workers
● Talaris Therapeutics Inc. cut 44 staff
● Mototown Records lost an unknown amount
● BofA plans cuts in investment banking
● Adventist Health lost 59 staff
● Tackle cut 15 percent
● Betterment lost 28 staff
● Service Titan cut 221 jobs
● Jumia lost 900 internationally
● Digital Ocean cut 200 jobs
● Sports Illustrated lost several writers and editors
● Abbott Laboratories cut temps
● Udemy lost 10 percent of global workforce
● Grifols cut 2,300 staff
● GoDaddy lost 35
● Athenahealth lost 178
● Neiman Marcus Group cut 500 staff
● Kirkwood Community College cut 28 staff
● CommerceHub lost 371 employees
● McKinsey laying off some 2,000
● Vicarious Surgical cut 23 jobs
● Blue Cross and Blue Shield cut 80 in Minnesota