layoff tsunami more than 65,000 workers laid off this summer
Mass layoff headlines became common in recent months. More than 65,000 workers were laid off this summer, highlighting the layoff trends. Yellow Corp., an American transportation holding company; CVS Health, an American healthcare company; and SecureWorks, an American cybersecurity company, announced major job cuts this summer.
The tech industry has witnessed major layoffs this year, followed by consumer services and ecommerce. Layoff tsunami has been affecting workers in recent months.
Which companies laid off workers?
Yellow Corporation laid off 30,000 of its employees due to the bankruptcy, according to a statement from the Teamsters union. In August, the company declared bankruptcy. The company also filed for Chapter 11 bankruptcy protection.
CVS Health laid off 5,000 workers in August in a cost-cutting effort, as reported by Forbes. The layoffs affected corporate roles, the company said in August. Laid-off workers received severance pay and benefits.
Walgreens, an American retail company that specializes in health and wellness products, laid off 400 employees in July. The company closed an ecommerce distribution center in Edwardsville, Ill.
Biogen, an American multinational biotechnology company, laid off 1000 workers. The company slashed nearly 900 jobs last year. Christopher Viehbacher, the Chief Executive Officer of Biogen, said that the company was adopting a complete redesign.
Zendesk, a Danish-American company, laid off 500 employees, citing macroeconomic uncertainty. Earlier, the company laid off 300 workers for the same reason.
SecureWorks, an American cybersecurity company, laid off 300 employees, according to a Securities and Exchange Commission filing. Earlier, the company laid off 9% of its workers in February.
Haven Technologies, an insurtech platform, laid off 280 employees. The insurance SaaS provider owned by MassMutual has been conducting layoffs in recent months.
Cryptocurrency exchange Binance laid off 1000 workers in July. A major global cryptocurrency exchange has conducted various rounds of layoffs in recent months.
T-Mobile laid off 5,000 employees, while Robinhood laid off roughly 150 employees. Ford laid off 1,000 employees, General Motors laid off 940 employees, and Nikola announced to lay off 120 employees in Arizona and another 150 at multiple sites.
Tyson Foods closed four poultry facilities in Arkansas, Indiana and Missouri. The employees were laid off without any notice. Anheuser-Busch parent AB InBev laid off 360 employees. KPMG slashed more than 1,900 jobs in June, affecting the workers. Goldman Sachs laid off nearly 250 employees, and Farmers Insurance laid off 2,400 employees.