|
This is week 34 of our reporting the long trend-line of layoffs that signal recession in a country near you.
More than 136,000 people have lost their job in the first quarter of 2023 amounting to more than the last 2 quarters of 2022 combined. March ended with a total of 35,000 jobs eliminated.
Adding to the job down note, hitting their lowest point in two years (back when much of the nation was fighting the COVID War), the Labor Department reported today that job openings totaled 9.93 million. This was a steep drop from the 632,000 that were created in January. According to FactSet, The Street was betting for 10.4 million new job openings in February.
And now, with interest rates having risen since February, the economy will slow down and the job cuts will increase. Here are the latest list of job cuts:
● Laramar Group – 76 in Denver
● Applegreen USA Travel Plazas Central Services – 245
● Walmart Lehigh Valley Distribution Center in Bethlehem PA – 597
● Apple – Small # of job cuts in Corp. Retail Teams
● ActBlue – 17 percent of workforce, No #
● Freight Company NFI – 124
● Hyland Software in Westlake Ohio – ~ 1,000
● Aspiration Partners Inc – 180
● Kirkland & Ellis – Another round of layoffs
● The Block – 1/3 of its staff
● MUSC Health University Med. Center – Layoffs, No #
● H.B. Fuller – 300
● Ibase Operations Corp. – 81
● Virgin Orbit – 675
● Molecular Templates – 105
● Toms River Regional School NJ – 28 positions
● Netflix: Scaling Back Movie Output – 5
● USAA – 475
● ABC – 50
● Alector – 30
● Lacey schools NJ – 73 possible teacher layoffs
● Salem Media Group – Trims workforce by 3 percent
● Seagate Technology – 2nd round of layoffs, 480
● Trellis Company – 105 on April 4
● Penn Medicine Lancaster General Health – 65
● Roku – another 200
● Crossbeam – 17
● Grin Technologies Inc. – at least 10 in March
● Novant Health – 50
● Drizly, an Uber-owned alcohol e-commerce delivery platform – Layoffs, No #
● RH San Francisco – 440
● The Blaine School Wa. – Layoffs expected, next school year
● CoverMyMeds – 815
● Unacademy ( International ) – 12 percent in another round of layoffs
● FanClash – about 100 this year
● LendingTree Inc – 13 percent or ~163
● Brook + Whittle in Pa. – 72
● Novant Health – Job Cuts include High-Level Charlotte Executives
● Electronic Arts – 6 percent or 800
● Warner Music – 270
● Disney (China) – 300 from streaming services
● Github ( India ) – Almost Entire Engineering Team
● Electric-vehicle maker Lucid Group Inc – 18 percent or 1,300
● J. Crew – 40 in its Corp. HQ
● CoStar – 62
● Marks & Spencer – likely number in the hundreds
● UBS – 30 percent, up to 36,000 possible
● Burger King – close 26 outlets, 400
● McAlpine – 2.5 percent or 60
● Red Cross – 1,500 jobs to be cut over the next 12 months
● General Motors – 5,000 employees have taken buyouts
Also, McDonald’s made headlines this past week for meetings that will likely result in major layoffs, due to declining company profits.