Latest Layoffs News

BuzzFeed cuts 12% of staff citing worsening econ conditions

Dec. 06, 2022 14:34 PM EST

NEW YORK (AP) — Digital media company BuzzFeed is cutting 12% of its workforce, citing worsening economic conditions. The New York company, which made the announcement in a regulatory filing on Tuesday, did not disclose how many workers it was letting go. According to the data...

Rail strike averted: Biden signs bill enforcing agreement

Dec. 02, 2022 11:24 AM EST

WASHINGTON (AP) — President Joe Biden signed a bill Friday to avert a freight rail strike that he said could have plunged the U.S. into a catastrophic recession. At the White House, Biden signed a measure passed Thursday by the Senate and Wednesday by the House. It binds rail...

US hiring stays strong, complicating Fed's inflation fight

Dec. 02, 2022 13:04 PM EST

WASHINGTON (AP) — The nation’s employers kept hiring briskly in November despite high inflation and a slow-growing economy — a sign of resilience in the face of the Federal Reserve’s aggressive interest rate hikes. The economy added 263,000 jobs, while the unemployment rate...

DoorDash cuts 1,250 jobs after pandemic hiring surge

Nov. 30, 2022 13:12 PM EST

DoorDash is eliminating about 1,250 corporate jobs, or about 6% of its workforce, saying it hired too many people when delivery demand surged during the COVID-19 pandemic. CEO Tony Xu said in a message to employees Wednesday that DoorDash was undersized before the pandemic and sped...

Low-cost fashion chain H&M to cut 1,500 jobs worldwide

Nov. 30, 2022 04:45 AM EST

STOCKHOLM (AP) — Low-cost fashion brand H&M said Wednesday that it will be reducing its global workforce by around 1,500 positions as part of a plan to reduce costs and further improve efficiency. The Sweden-based company said a restructuring charge of 800 million kronor ($76...

Cyber Monday deals lure in consumers amid high inflation

Nov. 28, 2022 17:58 PM EST

NEW YORK (AP) — Days after flocking to stores on Black Friday, consumers are turning online for Cyber Monday to score more discounts on gifts and other items that have ballooned in price because of high inflation. Cyber Monday is expected to remain the year’s biggest online...

Mississippi-based furniture company lays off 2,700 workers

Nov. 23, 2022 13:50 PM EST

TUPELO, Miss. (AP) — A Mississippi-based company that had become one of the largest furniture businesses in the country has laid off nearly its entire workforce. Approximately 2,700 workers, most of whom live in northeast Mississippi, lost their jobs Monday, according to the...

Unemployment claims rise to 240,000, highest since August

Nov. 23, 2022 08:54 AM EST

WASHINGTON (AP) — The number of Americans applying for unemployment benefits rose to the highest level since August but still remains low by historic standards. The Labor Department reported Wednesday that 240,000 people applied for jobless aid last week, up by 17,000 from the week...

California recovers pandemic job losses amid economic woes

Nov. 18, 2022 16:25 PM EST

SACRAMENTO, Calif. (AP) — California said Friday it had recovered all of the 2.7 million jobs it lost at the start of the pandemic, a moment that normally would celebrate the end of a downturn but instead was tempered by signs of a wobbly economy amid layoffs in the state's historically strong...

Amazon CEO says layoffs will extend into next year

Nov. 17, 2022 21:02 PM EST

NEW YORK (AP) — The mass layoffs that began in Amazon's corporate ranks this week will extend into next year, CEO Andy Jassy said Thursday. In a note sent to employees, Jassy said the company told workers in its devices and books divisions about layoffs on Wednesday. He said it...