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Stories Tagged as

Layoffs

It's a slow summer... for job cuts

by Mitchell Hartman
Aug 4, 2023
People are scanning today's jobs report for signs of slower job creation and greater wage gains — as unemployment claims hover near pre-pandemic lows, and companies announce fewer layoffs.
“We’re seeing a lot of those individuals being picked up fairly quickly in medium-sized companies," said Jim McCoy with ManpowerGroup
Mario Tama/Getty Images
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Latest round of layoffs at Gap Inc. reveal gaps in corporate strategy, analysts say

by Lily Jamali
Apr 28, 2023
The company just announced it would cut 1,800 corporate jobs, in addition to 500 it eliminated last fall.
Gap’s interim CEO said in a statement that recent corporate layoffs are part of a strategy to simplify its operations.
Allison Dinner/Getty Images
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Why are Ikea and Costco expanding as other retailers close stores and lay off staff?

by Kristin Schwab
Apr 21, 2023
Opening new stores may be a way for some retailers to position themselves for both a downturn and a recovery.
Someone who once shopped at Crate & Barrel may now feel more comfortable on an Ikea budget, which could partially explain the retailer's expansion plan.
Spencer Platt/Getty Images
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Laid-off workers are leaving unemployment benefits on the table

by Henry Epp
Apr 6, 2023
A lot of them don't even know they're eligible.
The University of Michigan's Luke Shaefer calls unemployment benefits “the most arcane and complicated” government program.
Olivier Douliery/AFP via Getty Images
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My Economy

California retailer weathers the storm of tech layoffs and a "climate pandemic"

by Nicholas Guiang
Mar 31, 2023
In the laid-back beach town of Santa Cruz, a local retailer adds wildfires and epic rain storms to the list of things to plan for.
Sonia McMoran consults her weather app to plan ahead for her store, above.
Courtesy of Sonia McMoran
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Meta cuts 10,000 jobs in second wave of layoffs since November

by Associated Press
Mar 14, 2023
Meta and other tech companies have been hiring aggressively in recent years but have recently begun to let some of those workers go.
Meta said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, followed by its business groups in late May.
Josh Edelson/AFP via Getty Images
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February's rising unemployment rate is actually a positive sign, economists say

by Lily Jamali
Mar 10, 2023
Growth in the number of people looking for work means the unemployment rate is rising for the right reasons, one economist says.
"People think this is a good time to be searching for a job," said Gus Faucher of PNC Financial Services Group.
Spencer Platt/Getty Images
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Can we tame inflation without hurting workers?

by Sabri Ben-Achour
Mar 7, 2023
Theoretically, yes.
One route to avoiding layoffs? "If businesses accept lower profit margins," said Wells Fargo economist Sarah House.
Andrew Caballero-Reynolds/AFP via Getty Images
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Even as layoffs abound, jobless claims are falling

by Mitchell Hartman
Mar 7, 2023
Many workers laid off from tech jobs are finding new ones fast.
Layoffs have so far been concentrated in the tech sector, but the overall unemployment trend has remained near decade-lows.
Eblis/Getty Images
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As the pandemic wanes, where's the market for massive online learning?

by Stephanie Hughes
Feb 23, 2023
Some platforms have laid off employees, citing the need for sustainable growth.
The pandemic forced a corporate shift to online training platforms. And that may stick, now that employees are used to learning on their own terms.
Ethan Miller/Getty Images
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