Layoff tsunami: More than 65,000 workers laid off this summer

WhatsAppWhatsAppFacebookFacebookTwitterTwitterPinterestPinterestRedditRedditGmailGmailShareShare

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 

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

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

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

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. 

Keep Reading

Zendesk

Zendesk, a Danish-American company, laid off 500 employees, citing macroeconomic uncertainty. Earlier, the company laid off 300 workers for the same reason.

SecureWorks

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

Haven Technologies, an insurtech platform, laid off 280 employees. The insurance SaaS provider owned by MassMutual has been conducting layoffs in recent months.

Binance

Cryptocurrency exchange Binance laid off 1000 workers in July. A major global cryptocurrency exchange has conducted various rounds of layoffs in recent months.

Layoff trends

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.

About Freelance writer

As a passionate freelance writer, I delve into the intricacies of human rights, work-life balance, and labour rights to illuminate the often overlooked aspects of our societal fabric. With a keen eye for detail and a commitment to social justice, I navigate the complexities of these crucial topics, aiming to foster awareness and inspire change.

Freelance writer

As a passionate freelance writer, I delve into the intricacies of human rights, work-life balance, and labour rights to illuminate the often overlooked aspects of our societal fabric. With a keen eye for detail and a commitment to social justice, I navigate the complexities of these crucial topics, aiming to foster awareness and inspire change.

Recent Posts

Google Layoffs Ahead? Buyouts Offered to Employees—Know the Details

Reports indicate that Google is preparing to conduct another round of layoffs, this time voluntarily offering exit packages (buyouts) to…

June 11, 2025

The New Career Currency: Why Top Talent Now Demands Both Big Salaries AND Work-Life Balance

The labor market in India is modernizing the expectations for any employment where paychecks were a major consideration, workers now…

June 10, 2025

ITR Filing 2025: Is Landlord’s PAN Mandatory to Claim HRA?

For Assessment Year 2025-26, the Income Tax Department has broadened its disclosure requirements for salaried taxpayers who are claiming House…

June 10, 2025

The New York Fashion Workers Act: Key Impacts for Model Management and Fashion Companies – Details Inside

New York Fashion Workers Act (NYS Labor Law, Article 36) will come into effect June 19, 2025. This legislation makes…

June 10, 2025

Trump Deploys Additional 2,000 National Guard members to Los Angeles, Officials Confirm

President Donald Trump has approved the dispatch of an additional 2,000 National Guard members and 700 Marines to Los Angeles,…

June 10, 2025

Tier-2 Cities Take the Lead: Randstad 2025 Report Reveals India’s Job Market Shift

India's job market is going through a significant transformation with tier-2 cities emerging as massive employment centres. According to the…

June 9, 2025