Free Republic

Not long after Friday’s Employment Report multiple analysts and commentators were calling it a “goldilocks” report, by which they meant it showed that the economy was neither “too hot” nor “too cold,” but instead, “just right.” In turn, the theory goes, the Federal Reserve could stop raising short-term rates earlier and at a lower peak than previously expected, inflation would continue to cool, and the economy could pull-off an elusive “soft landing.” The biggest headlines from the Employment Report were definitely good news. Nonfarm payrolls rose 223,000 in December, beating the consensus expected 203,000. Meanwhile, civilian employment, an alternative (although...

At a time when/if the economy was functioning as most economic pundits have previously proclaimed, Amazon and other retail giants would normally be beefing up workers in anticipation of the holiday shopping season. However, with the midterm election in the rearview mirror, exactly the opposite is happening. {Backstory on prior employment announcements}According to multiple media reports, Amazon is expected to announce layoffs for approximately 10,000 U.S. workers this week. Yet another indication the economic pretending is coming to an end right after the midterm election is concluded.(CNBC) – Amazon is planning to lay off approximately 10,000 employees in corporate and...

Major job cuts are coming to Twitter whether or not Elon Musk acquires the social media company. Musk has told prospective investors that he plans to cut nearly 75% of staff at Twitter, The Washington Post reported Thursday. That would bring Twitter’s staff down from 7,500 employees to around 2,000. Over time, he would hire new people to increase the staff again, however. And even if he doesn’t close, Twitter’s existing management planned to cut the workforce by about a quarter, the Post reported. The company also plans to make cuts to infrastructure like data centers. Musk previously hinted at...

Due to horrible financial conditions under the Biden administration, Meta CEO Mark Zuckerberg is reportedly laying the groundwork for mass layoffs at Meta. Managers “who are unable to get on track” could lose their jobs as part of the cuts, Reuters reports. Zuckerberg is expected to identify employee performance as the reasoning behind the layoffs. Critics have accused Facebook of “going woke” by using left-wing fact-checkers to censor conservative voices on the platform. During a weekly employee meeting, Zuckerberg said,” If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in...

While layoffs were near record lows in July, according to the Labor Department, headline-making cuts at some of the biggest companies — like Apple, Best Buy, Ford and Walmart in the last few weeks — might make you question the stability of your own job. Half of employers say they already have reduced overall headcount or have a plan in place to do so, according to PwC’s latest pulse survey of 722 U.S. executives in August. There’s not a ton you can do to keep your job from being eliminated, but there are a few ways to make the transition...

Last weekend we showed something remarkable (or delightful, if one is a stock bull): with the US economy on the verge of recession, with inflation topping, with the housing market about to crack, the last pillar holding up the US economy (and preventing the Fed from continuing its tightening plans beyond the summer), the job market, had just hit a brick wall as revealed by real-time indicators – such as Revello’s measure of total job postings – which plunged by 22.5%, the biggest change on record (we also listed several other labor market metrics confirming that the job market was...

Wells Fargo has begun laying off an undisclosed number of its home lending employees, little more than a week after reporting mortgage origination volume had dropped 33% year over year, the bank confirmed Friday to Business Insider and American Banker. “The home lending displacements this week are the result of cyclical changes in the broader home lending environment,” the bank told the publications in a statement. “We are committed to retaining as many employees as possible and will do everything we can to help them identify other opportunities within Wells Fargo.” Anonymous posts on the discussion board The Layoff indicate...

The firm that laid off nearly 900 employees on a mass Zoom call has reportedly fumbled another round of company layoffs. TechCrunch reported Tuesday that a portion of the 3,000 or so Better.com employees who were set to be laid off this week received pay slips for their severance checks — before they were told they were going to be laid off. The company uses the Workday payroll system, and the paychecks were put into the database on Tuesday, when the news of their layoffs was just hitting national headlines. No further information was provided to employees, an anonymous worker...

The vast majority of Time’s Up’s remaining staffers were laid off Friday in what they described as a debacle that began with leaders revealing they gave the news to the Washington Post first and ended with board member Ashley Judd breaking down in tears. The embattled organization, limping since its CEO and entire board resigned this summer, announced Friday that it would lay off the vast majority of its remaining staff. Leadership informed staff of the decision in a virtual meeting that started 15 minutes before the Post article made the pink slips national news. “They said on the call,...

To put things into context, prior to the pandemic, the highest level of unemployment claims was roughly 700,000 during the financial crisis in 2008.

CHARLOTTE, N.C. (FOX 46 CHARLOTTE)- Charlotte could be facing a big blow to the banking industry. Wells Fargo is expected to announce major layoffs across the board on Tuesday. Thousands across the entire company could get the pink slip and bank insiders tell WJZY that many of those cuts will happen in the Queen City. More than 27,000 people in the Charlotte area work for Wells Fargo. It’s the city’s second largest employer. In July, the bank’s chief executive said it may need to cut expenses by more than $10 billion as it restructures away from a retail bank.

Precision Castparts, one of Oregon’s largest companies, eliminated 10,000 jobs worldwide in the first half of the year as orders for its aerospace components evaporated. This year’s job cuts represent about a third of Precision Castparts’ global workforce, according to Berkshire Hathaway, Precision Castparts’ parent company. In June, Precision Castparts said it had laid off 717 workers in Portland and Clackamas County due to the coronavirus outbreak. It’s not clear how many employees remain in Oregon. Portland-based Precision Castparts makes heavy metal components for airplane manufacturers, energy producers and other industrial companies. Berkshire Hathaway, Warren Buffett’s investment firm, paid $37...

The largest daily newspaper in Hawaii is reportedly making deep cuts to its newsroom staff, eliminating many positions and reducing the staff's size by almost half Honolulu Civil Beat reported that the paper will cut 31 positions across several departments, around half of the roughly 60 employees currently working for the Star Advertiser. The announcement reportedly comes after months of negotiations between the company's owners and the Pacific Media Workers Guild, a union representing journalists at the newspaper. "There are ways through this, not only short term but long term, that are viable options," said Michael Applegate, the union's executive...

President Trump is facing intense backlash for celebrating the recent layoffs that took place at the liberal magazine The Atlantic. Last week, The Atlantic became the latest of several news outlets that have cut its staff amid the coronavirus pandemic, detailing in a memo to staff that 68 of their colleagues were let go, resulting in a cut of roughly 17 percent of all of the magazine's employees. Roughly 40 million Americans have lost their jobs since the beginning of the pandemic. On Tuesday night, Trump touted the layoffs from the magazine whose coverage has been largely critical of the...

The company, which suspended production at its San Francisco Bay Area vehicle and New York solar roof tile factories on March 24, said in the email the decisions were part of a broader effort to manage costs and achieve long-term plans.

Boeing Co will halt production at its Washington state factory for two weeks due to risks from coronavirus. The company announced on Monday that the temporary operations shutdown at its twin-aisle jetliner factory in Seattle would begin from March 25 and last 14 days. The shut down will include a deep clean of its buildings and equipment. Boeing, which employs some 70,000 people in Seattle's Puget Sound area, has more than dozen confirmed coronavirus cases among employees. One worker has died from the coronavirus, according to a friend's Facebook tribute.

To have fought your way into the dream machine, only to find that after years of quality work there is no job for you -- that is a harsh blow and a sign of our era How do you take the measure of 4,000 jobs lost in an industry with the size and scope of Hollywood? That's the number of pink slips being handed by Disney to Fox employees now that the merged mega-studio won't need them anymore. Four. Thousand. Jobs. It's undoubtedly the largest layoff from a single entertainment company in a generation -- maybe ever -- a fact...

Has President Trump suckered Democrats and the Deep State into a trap that will enable a radical downsizing of the federal bureaucracy? In only five more days of the already-“longest government shutdown in history” (25 days and counting, as of today), a heretofore obscure threshold will be reached, enabling permanent layoffs of bureaucrats furloughed 30 days or more. Don’t believe me that federal bureaucrats can be laid off? Well, in bureaucratese, a layoff is called a RIF – a Reduction in Force, and of course, it comes with a slew of civil service protections. But, if the guidelines are followed,...

Amid flagging sales, General Motors confirmed on Monday that it will no longer make the plug-in hybrid Chevy Volt, ceasing production on March 1st, 2019. The news comes as part of a wider plan by GM to slash car production in North America and halt production of several low-selling brands. Trading on GM shares was briefly halted on the stock exchange early on Monday in anticipation of “major operational changes,” according to CNBC. GM plans to “unallocate” three assembly plants — in Oshawa, Ontario; Detroit, Michigan; and Warren, Ohio — putting the future of those plants in doubt, Reuters reports....

Cisco Systems Inc is laying off about 14,000 employees, representing nearly 20 percent of the network equipment maker's global workforce, technology news site CRN reported, citing sources close to the company. San Jose, California-based Cisco is expected to announce the cuts within the next few weeks, the report said, as the company transition from its hardware roots into a software-centric organization. Apart from Cisco, two other big software companies, Microsoft Corp and HP Inc, have also announced job cuts this year.Microsoft said in July that it would lay off about 2,850 jobs over the next 12 months, taking its total...