Layoff Tracker 2022

The recession, which is here or is coming, has caused the start of large numbers of layoffs. Some economists believe unemployment will go much higher. Former Treasury Secretary Larry Summers expects the jobless rate to go from the current 3.5% to at least 5.0% as the economy cools from a period of rampant inflation.

Many of the companies with large layoffs are in the tech industry. There are some notable exceptions. Ford just announced 3,000 cuts. Ford said the reason was efficiency. As car sales are about to drop, the decision is convenient.

Some of the layoffs are notable for either their size or the percentage of the company’s total workforce. Admittedly, the list is not complete.

24/7 Wall St. has developed this layoff tracker to keep track of many of these.
Company Laid Off Month 3,000 June
Carvana 2,500 May
Coinbase 334 June
Compass 450 May
Ford 3,000 August
Groupon 500 August
HBO 70 August
Mr. Cooper 450 June
Netflix 150 May
Peloton 2,800 February
Redfin 470 May
Rivian 124 August
Robinhood 79 August
Shopify 1,000 July
Tesla 200 July
Walmart 200 July
Wayfair 96 August
Xiaomi 900 August

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