WHEN THE ECONOMY FALLS JOBS GO WITH IT

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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:

  • GAP cutting 500 corporate positions
  • Checkout.com will eliminate 5 percent or 100 employees
  • Warner Bros. Discovery laid off 100 workers
  • IronNet laid off 35 percent or 90 members of its staff
  • Scotts Miracle-Gro has cut 450 jobs  and claims there may be more coming
  • Twilio will lay off 11 percent  or more than 800 workers
  • Northern Gas and Power laid off 100 employees
  • Fanbyte, Future, and G4TV, all part of the games media industry, suffered layoffs
  • Acast will lay off 15 percent of its staff
  • Rubius Therapeutics laid off 75 percent of staff members
  • CapTel Service Specialists has announced more cuts 
  • Netflix Animation laid off 30 workers
  • Mass layoffs expected as ShopRite stores close
  • Albany Med is eliminating 37 positions
  • Infarm laid off 50 employees
  • Along with the 100,000 Amazon workers laid off in its second quarter nearly 70 warehouse locations have been announced either closed, canceled, or delayed
  • Napoleon cuts 80 manufacturing jobs
  • TrueLayer announces cuts of up to 10 percent of its staff
  • Danish Crown said it will cut 350 jobs 
  • AbbVie cut 360 jobs
  • Nordic Nanovector board members are jumping ship
  • Ruoff Mortgage announced layoffs
  • Lucidworks has cut 10 percent or 24 employees
  • James Cook University proposed 130 job cuts
  • BMO has announced cuts after drop in earnings
  • LivePerson lays off 11 percent of its workforce, affecting 193 employees
  • Clear laid off 190 employees shrinking 20 percent
  • Indiana Department of Workforce Development will eliminate 189 people
  • Sea is firing 3 percent of Indonesia staff
  • Ola lays off 200 engineers Centura Health reduced its workforce by 1 percent
  • Ride-hailing giant Ola will eliminate some 200 jobs
  • HCL Technologies lays off 300 workers 
  • Vesalius Therapeutics slashed 29 jobs.
2 Comments
  1. […] Moreover, with the Federal Reserve raising interest rates the economy will decline as money becomes more expensive to borrow. And the deeper the economy sinks the more people will be fired by companies whose profits are in decline, which results in more people buying less consumer goods. (See in this issue, “When the Economy Falls Jobs Go With It”.) […]

  2. […] Furthermore, with the Federal Reserve elevating rates of interest the economic system will decline as cash turns into dearer to borrow. And the deeper the economic system sinks the extra folks can be fired by firms whose income are in decline, which ends up in extra folks shopping for much less client items. (See on this concern, “When the Economic system Falls Jobs Go With It”.) […]

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