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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 important job losses from various sectors.
- Warby Parker cut 63 corporate staff members
- Peloton cut 800 staff, hiked prices and shut down stores
- Best Buy is cutting an unknown amount of staff to improve profits
- Calm cuts 20 percent of its 400 employees
- GoHealth laid off 800 workers
- SweetGreen is shrinking 5 percent
- Truepill fired about a third or 175 people, in its third round of layoffs this year.
- Soundcloud is letting go of 20 percent of its workforce.
- Hootsuite is laying off 30 percent of its employees or roughly 300 people.
- Apple laid off recruiters to slow their hiring process