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This is week 38 of our reporting the long trend-line of layoffs that signal recession in a country near you. Inflation and interest rate hikes are causing companies in many sectors to lay off employees.
As Vatornews wrote on 4 May 2023:
“Retail led all industries last month with 14,689 job cuts, according to a new report from global outplacement and business and executive coaching firm Challenger, Gray & Christmas. That number was up 270% from the 3,970 cuts in the retail space announced in March.
“The tech sector, meanwhile, came in second place, with 11,553 job cuts, the lowest number since October 2022, when 9,587 jobs were cut. Still, tech overall still leads in cuts year-to-date with 113,944, up 24,724% from just 459 cuts in the same period in 2022, while retail has seen 36,115 jobs cut so far.
“The third largest number of cuts came from consumer products manufacturers, which laid off 9,146 workers, bringing the total for the year to 19,116, a 391% increase from the same period in 2022. Meanwhile, the health sector, which includes hospitals and medical products manufacturers, cut 6,184 jobs, for a total of 29,134 for the year.
“Overall, there were 66,995 job cuts announced in April, a 176% increase year-to-year, making it the fourth consecutive month this year where job cuts were higher than the corresponding month in 2022. With the exclusion of 2020, this is the highest total job cuts for the first four months of a year since 2009, when 711,100 cuts were announced.”
The Challenger Gray & Christmas report shows hiring was down 81 percent from January through April this year as opposed to 2022. Also, total job cuts over the same period as opposed to last year is up 322 percent.
● LinkedIn – 716
● Takeda – 180+
● Intel – reported planning to layoff up to 20 percent at its client computing and data center divisions
● XPO – announced future cuts
● Goodyear – 15 confirmed, 300 expected
● Rapid – 80 percent, 70 (second round)
● Anodot – 20 percent, 15 (second round)
● Elkay Interior Systems – 77
● Hudson’s Bay cut 250 corporate jobs
● Cuemath – 100
● Twitch – 400
● PSU – 50 (does not include fixed-term employees whose contracts will not be renewed)
● Sabre – 15 percent, 1,100
● Teachmint – 70 (second round)
● Volvo – 1,300 (Sweden)
● Cognizant – 3,500
● Steelcase – board approved plans for cuts (France)
● Norbrook – 180
● CBA – 197 (Australia)
● Sky – reportedly lining up hundreds of job cuts
● TheSkimm – 22 (second round)
● Unity Software – 8 percent, 600
● Pearson in Cedar Rapids – 37
● Paul Smith’s College NY – Layoffs coming, No #
● Novavax – 500
● Qurate – 85
● Dollar Tree in Chesapeake Va. HQ – < 90
● Takeda – up to 186
● Brightline – 20 percent of its workforce
● Cedars-Sinai Medical Center – 100
● PeaceHealth – Eliminated 32 positions
● Selecta – 15
● NFT startup Autograph – 30
● Medaille University – 419
● Monument Health – 80
● Shopify – 20 percent of workforce or ~ 2,300
● MV Transportation Denver Branch – 198
● ZimVie – 5 percent
● Medaille University NY – Layoff Notices
● Intel Folsom California – 60
● Upwork – 137
● Sumitomo Pharma America – 223
● Cybersecurity firm Bishop Fox – 49
● Chattanooga TN – 14
● Paramount Cuts 25 Percent of Staff
● Memorial Health System Miss. – < 90
● UMass Amherst – 124