Things To Come: 10 Major Layoff Announcements

10 Major Layoff Announcements That Have Already Happened So Far In 2023

Michael S

This is my rebuttal to those in the federal government and elsewhere that are attempting to claim that the job market is in good shape.  No matter how many workers get laid off, the Bureau of Labor Statistics always seems to find a way to post a positive jobs number each month.  We were told that the U.S. economy somehow added 256,000 jobs in November even though Challenger, Gray & Christmas determined that the number of layoffs in November 2022 was actually 417 percent higher than it was during the same month a year earlier.  And even though the tsunami of layoffs continued in December, the Bureau of Labor Statistics is telling us that the U.S. economy somehow added 223,000 jobs last month.  It is almost as if there is a certain number that the BLS refuses to go below.  For each of the last five months, the number of jobs that the U.S. has “added” has miraculously come in between 200,000 and 300,000 each time.  But meanwhile large companies all over America have been laying off workers at a staggering rate.

Unfortunately, the pace of layoffs seems to be picking up speed during the early days of 2023.  The following are 10 major layoff announcements that have already happened so far this year…

#1 Salesforce has announced that approximately 10 percent of their workers will be canned…

#2 Vimeo says that “11% of the company’s workforce” will be permanently canceled…

#3 StickFix is eliminating “about 20% of its salaried workforce”as the company starts to come apart at the seams…

#4 Their first round of layoffs was not deep enough, and so now Genesis is saying goodbye to “30% of its workforce in a second round of layoffs”…

#5 Not to be outdone, Silvergate Capital is laying the axe to 40 percent of their workers…

#6 SuperRare Labs has just announced that 30 percent of their workforce will need to look for new jobs…

#7 More than a third of Biocept’s workers will be shown the door as the company struggles to survive…

#8 The first two rounds of layoffs didn’t do the trick, and so now Compass has decided to conduct a third round of layoffs…

#9 It turns out that the layoffs at Amazon will be much larger than originally anticipated…

#10 The Daily Mail is reporting that McDonald’s “will slash many of its 200,000 corporate staff in coming months” as it attempts to turn the business back in a positive direction…\

But don’t worry.

The Bureau of Labor Statistics is telling us that everything is just fine.

You believe them, don’t you?

Sadly, it appears that a lot more layoffs could be coming very soon.  For example, Bed Bath & Beyond is in such bad shape that it may soon not have many employees left at all…

Now Bed Bath & Beyond “has concluded that there is substantial doubt about the company’s ability to continue as a going concern,” the retailer said on Thursday. This means Bed Bath & Beyond has to consider all financial options, including restructuring, selling assets or going through bankruptcy.

“These measures may not be successful,” the company added. Its stock price dropped more than 20% as soon as markets opened.

For years, our leaders have been desperately trying to prop up our “bubble economy”, and for a while their efforts were successful.

But now they can no longer hold back the economic catastrophe that has been building for more than a decade.

This generation was handed the keys to the greatest economic machine in world history, but those in power have wrecked it.

Now we stand at the brink of an unprecedented economic crisis, and the months ahead are likely to be quite brutal.