U.S. layoffs mark the worst start to a year since 2009
Tech companies have accounted for about a third of the announced layoffs so far this year.
Layoffs
GM offers buyouts to accelerate $2 billion cost cutting plan
The Detroit automaker will offer the workers lump sum payments and other compensation based on tenure.
Benefits Think Offering resources for reemployment can help employees and your bottom line
Reemployment services improve a company's reputation and potentially save money on unemployment costs.
Jennifer Lamb
Equifax Workforce Solutions
Boeing plans to cut 2,000 finance and HR jobs despite hiring spree
Potentially affected workers haven't yet been told if they will lose their jobs.
Tech layoffs create rare chance for federal recruiters to snag talent
With a chronic shortage of tech workers, hundreds of open roles and extra money from Congress in last year's budget, the U.S. Department of Veterans Affairs agency is keen to seize the opportunity from recent Silicon Valley layoffs.
Meta to cut 11,000 jobs as Zuckerberg admits, ‘I got this wrong’
The company said that while reductions will happen across the company, its recruiting team will be disproportionately affected and its business teams would be restructured.
Twitter employees watch emails to see if they have a job
Musk plans to eliminate half of Twitter's workforce to slash costs at the social media platform he acquired for $44 billion last month.
Peloton threatens layoffs after losing pandemic steam
The stock hit an all-time high in January 2021 — sending its market value near $50 billion — after stuck-at-home consumers flooded the company with orders.
Benefits Think Rethinking severance packages during COVID and beyond
Supplemental unemployment benefits plans allow employers to save money while keeping released employees on their benefit plans for a temporary period.
Elizabeth Lutes
Transition Services
One in three U.S. workers changed or lost jobs in past year
The historically high level of churn, or rate of change, underscores the colossal challenge of bringing back millions of people to the labor market as the economy reopens.
Back to work: What recovery felt like for millions of Americans
There’s no single trajectory that captures the experience of the millions of Americans who lost jobs and then returned to work during the pandemic.
Instacart to cut 1,900 jobs, embracing the gig economy
Instacart plans to terminate about 1,900 employees’ jobs, including the only unionized positions in the U.S., representing a fulsome embrace of the gig economy.
Desperate small businesses await fresh aid with or without flaws
One in four small companies said they’ll go belly up if economic conditions don’t improve over the next six months.
U.S. jobs rise less than forecast as economic rebound downshifts
Persistently high jobless claims, along with this week’s announcements of tens of thousands of layoffs, indicate widespread economic pain.
Salesforce cuts 1,000 jobs after banner quarter, stock surge
Sales and customer-support roles are among those being eliminated, and affects some workers who sell the company’s software aimed at financial-services firms, health and life-science companies and other cloud sales teams.
Walmart is eliminating hundreds of corporate jobs
The world’s biggest retailer has laid off hundreds of workers in its store planning, logistics and real estate units.
Benefits Think Protecting 401(k) borrowers from default regardless of the economic environment
While recessions are almost impossible to predict, employers can plan for the financial impact caused by workforce adjustments that inevitably happen every year.
George White
Custodia Financial
American Airlines sees 25,000 jobs at risk when U.S. aid expires
The cuts are needed because the coronavirus pandemic is still battering demand for flights, the company told employees Wednesday.
Law firm Reed Smith mandates four-day work week in cost-cutting move
Most of the firm’s professional assistants and “select professional staff” will move to a shorter work week and will see compensation reductions.
Guild Education partners with Walmart and other employers on reskilling program
“Employers are grappling with the seemingly endemic skills gaps in healthcare, supply chain and skilled trade fields,” says Rachel Carlson, CEO of Guild Education.
