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Thursday, apr 24
Tag:
Layoffs
Business
Volvo Slashing Up To 800 East Coast 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…
News
Hundreds Of NJ Workers To Be Laid Off From These Major Corporations This Year
Hundreds of New Jersey workers will be out of a job this year as several major companies slash their workforces, according to state WARN (Worker Adjustment and Retraining Notification) filings. From retail giants to pharmaceutical leaders, the layoffs span multiple sectors and impact communities across the state. Here’s what’s coming: Walmart – Hoboken Effective date: June 13, 2025 Employees impacted: 481 The notice was posted in February. Bristol Myers Squibb – Lawrence Township Effective dates: May 22, June 6, June 20, and Aug. 1, 2025 Employees impacted: 223 Layoffs at the pharmaceu…
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…
Business
Pharma Giant Cutting 400+ More North Jersey Jobs Ahead Of Major Drug Patent's Expiration
Pharmaceutical company Novartis is laying off more than 400 US employees who report to its East Hanover facility as part of a restructuring effort tied to shifts in its cardiovascular drug portfolio. Novartis disclosed the 427 layoffs in a Worker Adjustment and Retraining Notification (WARN) and a spokesperson confirmed the job cuts to the Daily Voice on Tuesday, Mar. 18. The layoffs will take place between Friday, June 13 and Friday, Oct. 24. The Swiss drugmaker with about 78,000 employees globally is adjusting its commercial model ahead of the upcoming loss of ex…
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…
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
Pharmaceutical Company Laying Off 290 NJ Workers Amid Massive Cost-Cutting Push
Nearly 300 employees in Lawrenceville will lose their jobs as part of a pharmaceutical company's major cost-cutting measures, officials said. Bristol Myers Squibb will lay off at least 290 employees in 2025, according to a Worker Adjustment and Retraining Notification (WARN) notice in February. A company spokesperson confirmed the layoffs to the Daily Voice on Monday, Mar. 3. The company will begin 223 of those layoffs on Thursday, May 22, and continue them through Friday, Aug. 1. "We are optimizing operations across the company while prioritizing investments in innovative and t…
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 Hundreds At Hoboken Regional Facility, 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
Marriott Plans To Lay Off Over 800 Corporate 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.
News
Walmart Cutting Hundreds Of Positions From North Jersey Office
Layoffs are ahead for more than 200 of Walmart's North Jersey employees. A New Jersey WARN notice says the company will begin the cuts to 237 positions at its corporate office in Hoboken on Aug. 14, with more to come on Nov. 1, and Jan. 31, 2025. According to the Wall Street Journal, employees may work remotely but are being asked to spend the majority of their times in the offices. Employees in other U.S. cities are also facing layoffs, and are being asked to relocate to central hubs, the outlet said. Daily Voice has reached out to Walmart for additional information.
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 …
Schools
Jersey City School District May Lay Off Hundreds: Report
Following a marathon board meeting Monday night, the Jersey City Board of Education voted to lay off more than 400 staff. The layoffs would take effect at the end of the school year. School officials blamed a $33 million reduction in state aid for forcing them to cut positions including 250 teachers, NJSpotlight reported. Overall, the district is facing a $120 million budget shortfall. But NJ Spotlight also reported that the school board debated other measures in a bid to minimize or completely avoid layoffs. The district is contemplating selling buildings and using a pay…
News
Ethan Allen Cuts 55 Jobs With Closing Of Passaic Distribution Center
Ethan Allen will be closing its Passaic distribution center -- laying off 55 employees from the Market Street location, the Connecticut-based furniture manufacturer announced. The 250,000 square foot facility will move to North Carolina, where an additional 325 employees will be laid off in an effort to improve the company's "vertical integration operations," a press release says. "These decisions are not easy, said Ethan Allen Chairman, President and CEO Farooq Kathwari. "I have had a personal close association with many of these associates for about 40 years. They leave a legac…
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