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Dragflation: Economic growth declining and inflation rising… plus the pressure of interest rate hikes that are drying up the cheap money pool 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.
Crypto companies laid off nearly 5,000 employees since its loss of $1.9 trillion in value since the height of last year.
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- Packable said in a notice to employees Monday that it was laying off 138 people, or roughly 20 percent of its staff, with the remaining 372 employees expected to be terminated as “individual wind-down responsibilities are completed.” The memo was signed by Leanna Bautista, the company’s chief people officer.
- Novartis will cut 1,400 jobs in Sweden
- Better.com foregoes another round of layoffs after eliminating over 35 percent earlier this year
- Sea undergoes another wave of layoffs
- Citigroup lays off fewer than 100 mortgage workers
- Credit Suisse is debating cutting around 5,000 jobs
- Amazon is closing 2 facilities and losing 300 workers and scrapping plans for 42 buildings
- US Xpress will layoff 10 percent of its workforce
- Zymergen cuts 80 more jobs
- Real Estate start up Reali will cease all operations and lay off most employees
- Mercedes Benz to layoff 3,600 workers in Brazil
- Meta cuts advisory team for product, about two dozen employees
- Goldman Sachs is planning a round of layoffs next week
- Beaumont-Spectrum lays off 400 amid recession fears
- Skip The Dishes laid off 350 workers
- Tegra is laying off 45 employees
- Cazoo exits EU and lays off 1,500 people
- Pendo makes staffing cuts
- Lido Learning files for insolvency and dissolves its workforce
- Homepoint has laid off 1,000 workers
- Realtor.com makes more layoffs
- Article fires 216 employees
- Bed Bath and Beyond will close 150 stores and slash 20 percent of its workforce
- Corsicana Mattress lets go of 52 workers
- GXO Logistics laid off 144 employees
- La-Z-Boy laid off 180 workers
- Serta Simmons Bedding fires 284 staff
- Avaya has announced a round of layoffs
- Brose laid off 300 workers
- Amazon Care will lay off 400 in Washington state
- Brave Care will lay off 40 workers
- NBCUniversal will lay off 37 staff
- The Family Health Center of Worcester will close three locations
- Rupeek fired 230 employees
- BigBear.ai will lay off 7 percent of its staff, citing cash flow issues
- Bakersfield Heart will lay off 114 workers
- Checkout.com is eliminating 5 percent of its staff
- Dennis Uniform will lay off 71 staff