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68°
Thursday, jun 4
Tag:
Layoffs
Business
Workers Fear Weaker Job Market In 2026, New Survey Finds: Here's Why
Rising concerns about the weakening US job market are reshaping how workers approach 2026, with many choosing to stay put, protect their income, and brace for potential layoffs. Monster's newly released 2026 WorkWatch Report examines growing concerns about the labor market among jobseekers heading into the new year. The mid-December 2025 survey of 1,504 employed US adults shows a sharp pullback in job searching as anxiety grows over Americans' ability to find new positions. Only 43% of workers plan to look for a new job in 2026, down from 93% who said the same in 2025.&n…
Business
Verizon Reportedly Slashing 15K Jobs As Corporations Increase Layoffs
Verizon Communications is the latest major corporation planning massive layoffs as competition intensifies in the telecommunications industry. The company will cut about 15,000 jobs, with most expected to come through layoffs, The Wall Street Journal reported on Thursday, Nov. 13. Verizon is the largest US telecom provider by subscriber base. The carrier will also reportedly convert about 200 stores into franchised locations, shifting those workers off its payroll. Verizon employed about 100,000 people as of February, according to securities filings. The cuts come as Verizon faces growing …
Business
Merck Stock Drops, Layoffs Begin In $3B Restructuring Plan
Merck, a pharmaceutical company headquartered in Rahway, announced it will be undergoing layoffs after a disappointing second quarter. In its earnings report, Merck said it aims to save more than $3 billion in cost savings as part of a "multiyear optimization initiative." The restructuring program includes eliminating certain administrative, sales and research and development positions. Merck did not say how many people would be laid off, but said they aim to achieve the cost savings by 2027. To save money, the company plans to reduce office space and optimize its manufac…
Business
Spirit Reportedly Furloughing, Demoting Pilots Amid Post-Bankruptcy Struggles
Spirit Airlines is cutting hundreds of pilot jobs for the second time in two years, according to reports. Spirit will furlough 270 pilots and downgrade 140 captains, CNBC reported. The move is part of the carrier's continued effort to stabilize its finances after bankruptcy. The furloughs take effect Saturday, Nov. 1, with the demotions scheduled for Wednesday, Oct. 1. "We are taking necessary steps to ensure we operate as efficiently as possible as part of our efforts to return to profitability," Spirit told CNBC. Both moves aim to align staffing with a slimmer flight schedule durin…
Business
CEO Leaves X/Twitter As Controversies, Fleeing Users Plague Elon Musk's Website
The CEO of the website called Twitter by most people is leaving her role after a tumultuous tenure that saw the social media platform's popularity plummet under billionaire Elon Musk's ownership. Linda Yaccarino announced she's "stepping down" as CEO of X, formerly known as Twitter, in a post on Wednesday, July 9. The Deer Park, New York, native left her position as global advertising chair at NBCUniversal in May 2023 to lead Twitter two months before Musk rebranded the site as X. Yaccarino's resignation came one day after X's artificial intelligence chatbot Grok was accused of promoting an…
Business
Private Sector Loses Jobs For First Time Since 2023 Amid Trump Tariffs, Inflation: ADP
Private employers lost more jobs than they added for the first time in more than two years, as new data shows Americans pulling back on spending under the weight of inflation and President Donald Trump's sweeping tariffs. Businesses lost 33,000 jobs in June, according to the ADP National Employment Report released on Wednesday, July 2. That was the first monthly drop since March 2023 and behind May's downwardly revised figure of 29,000. June's numbers came in far below Wall Street's expectations, with Dow Jones economists forecasting a gain of 100,000 jobs, CNBC reported. "Though…
Business
Paramount To Lay Off 3.5 Percent Of US Workforce Amid Decline In Pay-TV Subscriptions
Paramount Global is reducing its US-based workforce by 3.5 percent, affecting several hundred employees, The company informed its staff of the layoffs on Tuesday morning, June 10 indicating that most affected employees would receive notification during the day, according to Deadline, which obtained a copy of a memo from CEOs George Cheeks, Chris McCarthy, and Brian Robbins. The move comes after the company cut about 15 percent of its employees in 2024 and amid ongoing challenges posed by the decline of traditional pay-TV subscriptions and broader economic pressures. Additi…
Business
Major Household Product Maker Cutting 7,000 Jobs As Trump Tariffs Roil Economy
Procter & Gamble, which operates eight plants across the Northeast, plans to cut up to 7,000 jobs over the next two years as President Donald Trump's trade policies shake businesses and consumer confidence, according to reports. Andre Schulten, P&G's chief financial officer, announced the layoffs during the Deutsche Bank Consumer Conference in Paris on Thursday, June 5. The cuts amount to about 6% of the company's global workforce and roughly 15% of its non-manufacturing positions, the Associated Press reported. P&G had about 108,000 employees worldwide as of June…
Business
Disney Cutting Hundreds Of Jobs In Latest Wave Of Layoffs: Reports
Hundreds of employees across Disney's television, film, and corporate finance divisions are being laid off as the company continues a sweeping cost-cutting effort, according to reports. The Walt Disney Company began laying off "several hundred" employees worldwide on Monday, June 2. The layoffs were first reported by Deadline. Most of the layoffs hit Disney Entertainment, including its film and TV marketing, television publicity, casting, and development divisions. Corporate finance teams were also affected, the report said. Although no entire teams will be eliminated, the job cuts ar…
Business
Major Job Cuts Coming At Walmart: 1,500 Corporate Roles Slashed
Walmart is set to cut about 1,500 corporate jobs across the United States as part of a strategic restructuring effort, according to a new report. The move is aimed at reducing expenses and streamlining decision-making processes, The Wall Street Journal says. The decision, which was announced last week, is not tied to President Donald Trump's tariff policies, a Walmart spokesperson told the outlet. The layoffs will primarily affect teams within global technology operations, US e-commerce fulfillment, and the Walmart Connect division. Earlier report - Walmart Raising Prices Due To Tr…
Business
Volvo Slashing Up To 100 MD Jobs As Trump's Tariffs, Low Demand Rattle Automakers
Up to 800 workers are being laid off at Volvo plants across the mid-Atlantic as concerns grow about the US auto industry due to President Donald Trump's tariffs. Volvo Group North America will lay off 550 to 800 employees, a company spokesperson confirmed to the Daily Voice on Friday, April 18. The layoffs will happen at plants in Maryland, Pennsylvania, and Virginia. The Swedish automaker cited the need to adjust to worsening economic conditions. "Heavy-duty truck orders continue to be negatively affected by market uncertainty about freight rates and demand, possible regulatory chang…
Business
Stocks Plunge, US Dollar Drops As Economists Warn Trump's Tariffs Are 'Worst Case Scenario'
Stocks plummeted on Wall Street and a wave of panic selling swept through global markets reacting to President Donald Trump's widespread "liberation day" tariffs. The tariff announcement sent stocks into their worst tailspin of 2025 so far and dragged the US dollar to a six-month low on Thursday, April 3. Trump unveiled the sweeping 10% tariffs on all imports and far steeper rates for key trade partners on Wednesday, April 2. By 11 a.m., the Dow Jones Industrial Average had plunged about 1,590 points, down 3.77%. The S&P 500 fell 4.35% – or about 247 points – while the Nasdaq …
Business
Layoffs Hit Pandemic-Era Heights As Musk Slashes Federal Jobs, Trump's Widespread Tariffs Begin
The US saw one of its largest waves of layoffs in decades, fueled by billionaire Elon Musk's efforts to purge the federal government, as markets fear the financial impacts of President Donald Trump's sweeping new tariffs. US employers announced 275,240 job cuts in March, outplacement firm Challenger, Gray & Christmas said on Thursday, Apr. 3. That's the third-highest monthly amount since Challenger began tracking layoffs in 1989, only surpassed by the height of the COVID-19 pandemic in April and May of 2020. So far in 2025, employers have announced 497,052 job cuts — the highe…
News
NASA Starts Mass Firings Of Scientists
NASA is eliminating key scientific offices— including the Office of the Chief Scientist — as part of a broad restructuring that will reduce the agency’s workforce and impact major research initiatives. The cuts, revealed in an internal email reported by Axios, are tied to a phased reduction in force that also dissolves NASA’s Office of Diversity, Equity, Inclusion, and Accessibility, affecting about 20 employees. The implications of these cuts are significant, as they cast doubt on the future of vital NASA science initiatives, particularly those focusing on human-induced climate chang…
Business
Consumer Confidence Falls To 2022 Lows Amid Tariff Worries, Affordability Crisis: Survey
Consumer confidence plunged in March, hitting its lowest level since 2022 as lingering inflation, a slowing job market, and economic uncertainty weigh on Americans. The preliminary consumer sentiment index dropped to 57.9 in March, down 10.5 percent from February, a survey from the University of Michigan said on Friday, Mar. 14. It marks the lowest reading since November 2022 and 27.1 percent lower than March 2024. The decline marks the third consecutive month of falling confidence, with all age groups, income levels, and political backgrounds reporting a more negative outlook. "…
Business
Spirit Airlines Exits Bankruptcy After Slashing $795M In Debt, Cutting Jobs
Spirit Airlines has flown past its financial turbulence, as the budget airline exits bankruptcy after shedding nearly $800 million in debt, officials said. Spirit has ended its financial restructuring process, the airline said in a news release on Wednesday, Mar. 12. The Dania Beach, Florida-based company filed for Chapter 11 bankruptcy in November 2024. The airline has finalized a plan that eliminates $795 million in funded debt and it also received $350 million in equity investments. "We're pleased to complete our streamlined restructuring and emerge in a stronger financial position to c…
Business
Inflation Cools Slightly In February As Tariffs, Slowing Labor Market Fuel Economic Concerns
Consumer prices rose slightly less than expected in February, but President Donald Trump's escalating trade wars and a declining labor market are keeping economic uncertainty high. Inflation increased 0.2 percent in February and 2.8 percent over the past year, according to new Bureau of Labor Statistics data released on Wednesday, Mar. 12. The yearly inflation number remained well above the Federal Reserve's two-percent target. The monthly increase was smaller than January's jump of 0.5 percent. February's figures were also a little lower than Dow Jones expectations, CNBC reported. Co…
Business
Bags No Longer Fly Free: Southwest Scraps Most Famous Perk, Adds New Fees
Southwest Airlines is grounding one of its most famous perks, marking a major shift in its identity after more than five decades. Southwest will no longer offer free checked bags for all passengers, the company said in a news release on Tuesday, Mar. 11. The new luggage policy will begin for tickets purchased on or after Wednesday, May 28. The airline has had its well-known "Bags Fly Free" perk since it was founded in 1971. "We have tremendous opportunity to meet current and future customer needs, attract new customer segments we don't compete for today, and return to the levels of profita…
Business
CVS To Open Pharmacy-Only Locations Amid Store Closings, Corporate Layoffs
CVS is rolling out a new wave of smaller-format pharmacies in select communities nationwide as it tries to adapt to changes in the retail world. CVS plans to open at least a dozen of these compact pharmacies nationwide in 2025, a spokesperson confirmed to Daily Voice on Monday, Mar. 10. The pharmacy-only locations aim to improve access to medications, immunizations, and pharmacist-provided health care services. Each location will average less than 5,000 square feet, with a full-service pharmacy and a limited selection of over-the-counter products tailored to a community. "By taki…
Business
February Job Growth Disappoints, Fueling Economic Fears From Rising Costs, Tariff Confusion
The US labor market fell short of expectations in February, adding to growing economic uncertainty from trade disputes, a hiring slowdown, and ongoing federal job cuts. The nation's economy added 151,000 jobs in February, according to data from the Bureau of Labor Statistics released on Friday, Mar. 7. That number was lower than the Dow Jones consensus forecast of 170,000, CNBC reported. Job growth lagged behind the 12-month average of 168,000, signaling a labor market slowdown. Healthcare led with 52,000 new positions, followed by financial activities (+21,000), transpo…
Business
US Layoffs Surge To 2020 Levels As Economic Turmoil Grows: Study
Layoffs are sweeping across the country at a pace not seen in years, hitting government workers, retail employees, and tech professionals the hardest, according to a new study. US employers announced 172,017 layoffs in February, the highest total since the height of the COVID-19 pandemic in July 2020, according to a report released by outplacement firm Challenger, Gray & Christmas on Thursday, Mar. 6. Last month's cuts were 245 percent higher than January and more than double the job losses from February 2024. February marked a dramatic spike in job losses, as businesses and federal age…
Business
Sesame Workshop To 'Downsize Significantly' Amid Funding Cuts, Streaming Partner Loss
Sesame Workshop, the nonprofit production company behind the beloved children's educational TV show "Sesame Street," is facing major staff cuts after losing key funding. Daily Voice confirmed the layoffs in an email from a Sesame Workshop spokesperson on Wednesday, Mar. 5. The job cuts were first reported by Semafor media editor Max Tani, who obtained an internal staff note from CEO Sherrie Rollins Westin. The spokesperson didn't disclose how many employees were affected. "As production of our 56th season begins next month, we remain as committed as ever to bringin…
Business
Starbucks Slashing 1,100 Corporate Jobs In Major Company Shake-Up
Starbucks is cutting 1,100 corporate jobs as part of a sweeping restructuring plan designed to simplify operations and refocus on its core business. Starbucks CEO Brian Niccol announced the layoffs in a message to employees on Monday, Feb. 24. The job cuts will affect non-retail support employees, as the coffeehouse chain works to streamline leadership and eliminate duplicate roles. Several hundred open but unfilled positions will also be removed. In-store workers and store hours won't be affected Niccol said the decision is part of the company's broader "Back to Starbucks" plan,…
Business
Walmart To Lay Off, Relocate Over 800 Workers, Report Says
Over 800 employees across three Walmart regional facilities may face layoffs, according to a new report. The affected locations include Hoboken, New Jersey, with 481 employees; Charlotte, North Carolina, with 267; and San Bruno, California, with 79, according to Supermarket News, which said some of the workers may choose to relocate in the weeks ahead. While the offices in Hoboken and San Bruno will remain open, the Charlotte office is set to close, the outlet reported. The Worker Adjustment and Retraining Notification (WARN) notices filed with state labor departments in New Jersey, …
Business
Southwest Airlines Laying Off 15% Of Workforce In 'Unprecedented' Corporate Overhaul
Southwest Airlines is cutting 1,750 jobs as part of a restructuring plan to streamline operations and reduce corporate costs. Southwest announced the layoffs for about 15 percent of the airline's corporate workforce in a news release on Monday, Feb. 17. The job cuts, which will be finalized by mid-2025, primarily affect corporate leadership and support roles. Eleven senior leadership positions, including vice presidents and directors, are also being eliminated. "This decision is unprecedented in our 53-year history, and change requires that we make difficult decisions," said…
Business
Spirit Airlines Slashes Jobs As It Charts Path Out Of Bankruptcy
Spirit Airlines is laying off about 200 employees as the company tries to survive amid bankruptcy proceedings. The budget carrier will eliminate the positions across various departments, a company spokesperson told Daily Voice on Thursday, Jan. 16. The move came as Spirit looks to emerge from Chapter 11 bankruptcy, which it filed for in November 2024. The layoffs, which follow recent pilot furloughs, aim to align the airline's staffing with its current fleet size and level of flying while achieving $80 million in annual cost reductions. "These decisions are never made lightly, and we are c…
Business
Bethesda-Based Marriott Announces Plans To Lay Off Over 800 Employees
Global hotel chain Marriott International is planning to lay off hundreds of employees by the start of the new year. According to a Maryland Work Adjustment and Retraining Notification (WARN) filing, the company, based in Bethesda, listed 833 people slated to lose their jobs by Wednesday, Jan. 3. Despite the development, Chief Executive Officer Anthony Capuano said business is solid. "Our business momentum is excellent, and as a company that embraces change, we continue to evolve our business to support our global growth," Capuano said in a third-quarter earnings call late last month,…
Business
Hearst Lays Off Around 200 Employees From Magazine Division
Hearst Magazines has just fired around 200 employees, most of whom were assigned to the company's midtown Manhattan headquarters, according to multiple reports. Cosmopolitan, Esquire, Good Housekeeping, Men's Health, Popular Mechanics, Town & Country, and Harper's Bazaar are among the titles the division of Hearts Communications publishes. Affected employees were notified in a private meeting days before Thanksgiving, according to New York Magazine. Some of the Hearst publications :were already run by a skeleton crew" after years of downsizing, the report in New York said.
Business
DMV Region Reacts To Local News Outlet Getting Shut Down, Reporter Releases
A popular local news outlet in the DMV region is being shut down - again - after the agency released more than a dozen employees and plans to shift toward a different business model. The backlash was swift and harsh on Friday, Feb. 23, when WAMU announced it would be shutting down DCist, which was shuttered unexpectedly as users were redirected to a website for the company's radio station. Layoffs were confirmed by their union on Friday morning. If you believe in the power of local journalism to hold the government accountable, to bring levity to your day, or to tell you something new …
Business
David's Bridal Laying Off 9,200 Employees Amid Bankruptcy Filing
David's Bridal will send more than 9,000 workers home in an upcoming round of layoffs, according to a disclosure form it filed with the Pennsylvania Department of Labor and Industry. The Montgomery County, PA-wedding retailer expects to lay off 9,236 employees nationwide in a three-phase plan that began on Friday, April 14, according to the state website. It's not clear how many of those workers are in Pennsylvania, though the layoffs are expected to affect locations in Blair, Dauphin, Delaware, Erie, Luzerne, and York counties, as well as four shops in Allegheny County, two sho…
News
Freshly Laid Off Netflix Workers Share Their Stories On Twitter
A bevy of laid off Netflix workers are airing their grievances on Twitter, and the world is watching. The layoffs come from the company's newly-launched fan site Tudum, Deadline reports. Tudum was named after the sound that Netflix makes when it opens. A Netflix spokesperson responding to Daily Voice's request for comment said only that "our fan website Tudum is an important priority for the company," and did not disclose an exact number of layoffs. Meanwhile, former employees are on the hunt for work. Netflix last week reported a significant subscriber loss, its first since 2011. The 26 …
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