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'Mega-Layoffs' Under Trump as Corporations Have Cut 1 Million Jobs This Year—Most Since 2003 (www.commondreams.org)
submitted 3 weeks ago by pelespirit@sh.itjust.works to c/politics@sh.itjust.works
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As reported by the Washington Post on Thursday, new data from corporate outplacement firm Challenger, Gray & Christmas found that employers in October announced 153,000 job cuts, which marked the highest number of layoffs in that month since October 2003.

John Challenger, the CEO of Challenger, Gray & Christmas, told the Post that the huge number of October layoffs showed the economy was entering “new territory.”

“We haven’t seen mega-layoffs of the size that are being discussed now—48,000 from UPS, potentially 30,000 from Amazon—since 2020 and before that, since the recession of 2009,” he explained. “When you see companies making cuts of this size, it does signal a real shift in direction.”

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