We've received reports that the U.S. unemployment rate is 3.5% and wonder if this is correct given the number of layoffs that are happening in tech companies - and now even in other companies like McDonald's.
Posts for tag layoffs
A report by investment bank Goldman Sachs reveals that Artificial Intelligence (AI) has the potential to replace the equivalent of 300 million full-time jobs.
The growing influence of Artificial Intelligence (AI) and advanced language models like ChatGPT is transforming our lives and professional landscape. While these technologies bring numerous advantages, they also endanger certain job sectors. This comprehensive article explores the occupations most at risk due to AI and ChatGPT's increasing presence in the workforce.
Economic data released on Wednesday shed light on the current state of the labor market. Reports from ADP and the Bureau of Labor Statistics showed robust hiring at the beginning of the year. However, the BLS also reported that layoffs surged and job openings declined in January. These signs of a cool-off are concerning and indicate that the labor market may be losing momentum.
Twitter’s product manager Esther Crawford is no longer working at the company after another wave of layoffs. Zoë Schiffer, a reporter for Platformer, was the first to report the news. Crawford was responsible for various projects at Twitter, including the Blue with verification subscription and the company’s upcoming payments platform.
The US economy added over 500,000 jobs in January; however, tech industry workers are feeling the effects of the ongoing layoffs. Here are the latest updates and news.
Yahoo plans to lay off over 20% of its 8,600 workforce as part of a major restructuring effort. The company is reorganizing its advertising unit, which will lose over half of its employees by the end of the year. Nearly 1,000 employees will be affected by the cuts by the end of the week.
On Tuesday, February 7, 2023, Zoom announced it had laid off 15% of its workforce, affecting around 1,300 employees. The move comes as the world transitions to a post-pandemic reality.
According to Reuters, Dell Technologies is cutting 5% of its global workforce, or about 6,650 jobs, as it faces a decline in the PC market and prepares for a potential recession.
Autodesk, Okta and other tech companies announced layoffs today. Despite that, five-hundred thousand new jobs were added in the US job market. Unemployment in the US is down to a 53 year low at just 3.4%.
Last week Ancestry announced layoffs of about 7% of staff, multiple people posted on LinkedIn.
According to a report by Bloomberg, Impossible Foods is laying off 20% of its staff, which could affect over 100 employees out of its current 700 workers. The company made a similar cut in its workforce last October. Impossible Foods did not respond to a request for comment on the layoffs.
According to CyberSeek, there were about 750000 cyber-security job openings as of January 27, 2023.