Announced job cuts for the first eight months of this year surpass 2019's 12-month total for last year. Roughly 1.1 million of the cuts are related to the COVID-19 pandemic.
Weekly jobless claims remain high, a sign the companies are cutting workers even as the headlines tout recovery. The layoff economy has returned with a vengeance.
Coca-Cola has announced that it will offer 4,000 North American employees a voluntary layoff, and the company expects to offer a similar program globally as it reorganizes.
If the other large U.S. carriers cut their workforces in line with American Airlines, the nationwide number easily could top 100,000.
Boeing is reportedly extending its voluntary layoff plan, first announced in April. The company said then that it planned to layoff about 16,000 employees.
New research shows that layoffs announce by U.S.-based employers in July rose sharply both year over year and from June.
Boeing missed second-quarter estimates on both the top and bottom lines, but new production cuts and a likely layoff gave shares a lift in Wednesday's premarket session.
Schlumberger finds itself in deep trouble financially, but only partially. As part of the solution, it has done what many huge companies have.
The equity markets will start to fall as parts of the economy shut down again and it becomes clear that as many as 15 million lost jobs cannot be replaced.
American has been one of the great U.S. airlines for decades. Laying off 25,000 people, about the population of a small U.S. city, is a sign that it faces a set of unprecedented challenges.
American Airlines may be joining the list of companies that are furloughing employees during this coronavirus pandemic.
United Airlines may lay off as many as 36,000 employees in October. Its new CEO will waive his salary until the end of the year. But what does that mean exactly?
Due to the sharp fall-off of commercial aircraft demand, brought on by the nosedive of travel, Airbus plans to cut employees, the number of which is equivalent to a small city.
What does it say about long-term industry expectations when a leader in the cannabis field is laying off more employees and closing plants as a restructuring effort?
HSBC will move forward with the 35,000 layoffs it delayed due to the COVID-19 pandemic. That is more than the population of Stevens Point, Wisconsin.