Latest Layoffs News

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...

Average long-term US mortgage rates tumble to 6.61%

Nov. 17, 2022 12:28 PM EST

WASHINGTON (AP) — The average long-term U.S. mortgage rate tumbled by nearly a half-point this week, but will likely remain a significant barrier for potential homebuyers as Federal Reserve officials have all but promised more rate hikes in the coming months. Mortgage buyer Freddie...

Fewer Americans file for jobless benefits last week

Nov. 17, 2022 09:09 AM EST

WASHINGTON (AP) — The U.S. job market remains healthy as fewer Americans applied for unemployment benefits last week, despite the Federal Reserve's rapid interest rate hikes this year intended to bring down inflation and tighten the labor market. Applications for jobless claims...

Amazon begins mass layoffs among its corporate workforce

Nov. 16, 2022 17:20 PM EST

NEW YORK (AP) — Amazon has begun mass layoffs in its corporate ranks, becoming the latest tech company to trim its workforce amid rising fears about the wider economic environment. On Tuesday, the company notified regional authorities in California that it would lay off about 260...

Energy company laying off 135 in Louisiana, offshore

Nov. 10, 2022 15:59 PM EST

LAFAYETTE, La. (AP) — An energy company is laying off 135 employees at a Louisiana office and various offshore locations. Lafayette news outlets report that Houston, Texas-based QuarterNorth Energy made public its layoff plans for the Lafayette office and the offshore locations in...

Vaping company Juul cuts 400 jobs amid growing setbacks

Nov. 10, 2022 15:12 PM EST

WASHINGTON (AP) — Embattled vaping company Juul Labs announced hundreds of layoffs Thursday as the company weathers lawsuits, government bans and increasing competition for its electronic cigarettes. Juul said it has obtained new financing to stay in business and continue...

Average long-term US mortgage rate back above 7% this week

Nov. 10, 2022 10:01 AM EST

WASHINGTON (AP) — The average long-term U.S. mortgage rate returned to the 20-year highs of two weeks ago when rates breached 7% for the first time since 2002. Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate rose to 7.08% from 6.95% last week....