Job cuts, the top 20 of 2024 (so far)

Economy
1

According to The Kobeissi Letter (half million followers) this is the
“Latest List of Layoffs Over Last 4 Months:”

  1. Twitch: 35% of workforce
  2. Hasbro: 20% of workforce
  3. Spotify: 17% of workforce
  4. Levi’s: 15% of workforce
  5. Zerox: 15% of workforce
  6. Qualtrics: 14% of workforce
  7. Wayfair: 13% of workforce
  8. Tesla: 10% of workforce
  9. Duolingo: 10% of workforce
  10. Washington Post: 10% of workforce
  11. Snapchat: 10% of workforce
  12. eBay: 9% of workforce
  13. PayPal: 9% of workforce
  14. Business Insider: 8% of workforce
  15. Charles Schwab: 6% of workforce
  16. Macy’s: 4% of workforce
  17. Blackrock: 3% of workforce
  18. Citigroup: 20,000 employees
  19. UPS: 12,000 employees
  20. Cisco: “Thousands” of employees

He adds:
“In 2024, we have already seen 74,000 tech layoffs alone with well over 200,000 across all industries.”

“Last month, the US added a whopping 691,000 part-time jobs while LOSING 6,000 full-time jobs.”

“Is the labor market finally starting to soften?”

2

Note also
the economy has lost 1.347 million full-time jobs in the past 12 months

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but added 1.888 million part-time jobs in the same period

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3

It depends on if the consumer is willing to pile on more credit card debt abd/or continue to draw down their retirement savings?

On a side note it looks like the Market run has hit a ceiling.

4

If the real GDP starts growing a little bit more,
it will be growing as fast as the (11-year) period we commonly call “the 1970s.”

(Rust color below)

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1 Like
5

Ouch my grandson works for Tesla, I sure hope he doesn’t get laid off.

FYI, it’s spelled Xerox not “zerox”.

1 Like
6

LOL yeah I know.
I wanted to maintain the quote verbatim

1 Like
7

I figured as much. Too much auto corrects replacing proof reading.