The recession, which is here or is coming, has caused the start of large numbers of layoffs. Some economists believe unemployment will go much higher. Former Treasury Secretary Larry Summers expects the jobless rate to go from the current 3.5% to at least 5.0% as the economy cools from a period of rampant inflation.
[in-text-ad]
Many of the companies with large layoffs are in the tech industry. There are some notable exceptions. Ford just announced 3,000 cuts. Ford said the reason was efficiency. As car sales are about to drop, the decision is convenient.
Some of the layoffs are notable for either their size or the percentage of the company’s total workforce. Admittedly, the list is not complete.
24/7 Wall St. has developed this layoff tracker to keep track of many of these.
24/7 Wall St.| Company | Laid Off | Month |
|---|---|---|
| Better.com | 3,000 | June |
| Carvana | 2,500 | May |
| Coinbase | 334 | June |
| Compass | 450 | May |
| Ford | 3,000 | August |
| Groupon | 500 | August |
| HBO | 70 | August |
| Mr. Cooper | 450 | June |
| Netflix | 150 | May |
| Peloton | 2,800 | February |
| Redfin | 470 | May |
| Rivian | 124 | August |
| Robinhood | 79 | August |
| Shopify | 1,000 | July |
| Tesla | 200 | July |
| Walmart | 200 | July |
| Wayfair | 96 | August |
| Xiaomi | 900 | August |
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
