Job layoffs surge 35% to highest level to start a year in a decade

Cuddles

Cuddles

https://www.cnbc.com/2019/04/04/job...ighest-level-to-start-a-year-in-a-decade.html

  • Job layoffs hit 190,410 in the first quarter, a 35.6 percent increase over the previous year and the worst first quarter since 2009, according to Challenger, Gray & Christmas.
  • The report comes a day before the government’s nonfarm payrolls count, which is expected to show growth of 175,000.
Layoffs hit their highest level for a first quarter in 10 years as 2019′s job market got off to a shaky start, according to a report Thursday from outplacement firm Challenger, Gary & Christmas.

Total announced cuts hit 190,410, a 10.3 percent increase from the fourth quarter and 35.6 percent jump from the same period a year ago. The level was worst period overall since the third quarter of 2015 and the highest level for a first quarter since 2009 as the economy was still mired in the financial crisis.

The auto industry led by sector in March with 8,838 layoffs, followed by energy with 8,149 cuts. Financial firms were next with 4,884, while retail followed with 4,860. Retail has announced 46,061 cuts this year, an 18.5 percent decrease from the first quarter of 2018.




“Companies appear to be streamlining and updating their processes, and workforce reductions
are increasingly becoming a part of these decisions, ” Andrew Challenger, vice president of Challenger, Gray & Christmas, said in a statement. “Consumer behavior and advances in technology are driving many of these cuts.”
 
CET said:
Minimum wage hikes trigger 'payroll tsunami,' as small businesses cut back

https://www.foxnews.com/politics/15-minimum-wage-hikes-payroll-tsunami-hurt-small-businesses
More...

Central Banks have subsidized Large caps across the world... They can function for years at loss, lose 2 billion a year and still operate perfectly with excellent salaries at a price lower then the competition. Small-Medium private business can't compete anymore in certain categories... Look at the lyft's or uber's, take out the taxi industry by under cutting the competition at a steep loss per year, uber taking over food delivery across towns, at a steep loss per year... Amazon's, Walmart's, list goes on. Walmart had revenue of 514.415 Billion in 2019 and Net Income loss of 6.67 Billion... If you are firing employees or closing down cause minimum wage increased by 2 bucks an hour, you were obviously not competitive enough, and who can blame them really... Private sector quotes their products with a margin of profit, some of these huge public companies really don't care about profit, they quote at loss sometimes cause no matter what in good times they can get debt and have market cap
 
Stockolio said:
Central Banks have subsidized Large caps across the world... They can function for years at loss, lose 2 billion a year and still operate perfectly with excellent salaries at a price lower then the competition. Small-Medium private business can't compete anymore in certain categories... Look at the lyft's or uber's, take out the taxi industry by under cutting the competition at a steep loss per year, uber taking over food delivery across towns, at a steep loss per year... Amazon's, Walmart's, list goes on. Walmart had revenue of 514.415 Billion in 2019 and Net Income loss of 6.67 Billion... If you are firing employees or closing down cause minimum wage increased by 2 bucks an hour, you were obviously not competitive enough, and who can blame them really... Private sector quotes their products with a margin of profit, some of these huge public companies really don't care about profit, they quote at loss sometimes cause no matter what in good times they can get debt and have market cap
More...

Everything is being walmartized out of business. You're right The future is scary.
 
It's something really bad, but do you watch something else except CNBC or CNN ? What about Fox News ? What they says about this trending topic now ? Since last US elections I started less to believe all that people, all that talking heads on TV
 
Here4money said:
https://www.cnbc.com/2019/04/04/job...ighest-level-to-start-a-year-in-a-decade.html

  • Job layoffs hit 190,410 in the first quarter, a 35.6 percent increase over the previous year and the worst first quarter since 2009, according to Challenger, Gray & Christmas.
  • The report comes a day before the government’s nonfarm payrolls count, which is expected to show growth of 175,000.
Layoffs hit their highest level for a first quarter in 10 years as 2019′s job market got off to a shaky start, according to a report Thursday from outplacement firm Challenger, Gary & Christmas.

Total announced cuts hit 190,410, a 10.3 percent increase from the fourth quarter and 35.6 percent jump from the same period a year ago. The level was worst period overall since the third quarter of 2015 and the highest level for a first quarter since 2009 as the economy was still mired in the financial crisis.

The auto industry led by sector in March with 8,838 layoffs, followed by energy with 8,149 cuts. Financial firms were next with 4,884, while retail followed with 4,860. Retail has announced 46,061 cuts this year, an 18.5 percent decrease from the first quarter of 2018.




“Companies appear to be streamlining and updating their processes, and workforce reductions
are increasingly becoming a part of these decisions, ” Andrew Challenger, vice president of Challenger, Gray & Christmas, said in a statement. “Consumer behavior and advances in technology are driving many of these cuts.”
More...



Agree. Job scene getting tougher, many interviews, no offers that are worth it.
 
You must log in or register to reply here.
Back
Top