{"id":1739701,"date":"2022-11-15T12:33:45","date_gmt":"2022-11-15T17:33:45","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1739701"},"modified":"2022-11-15T12:33:51","modified_gmt":"2022-11-15T17:33:51","slug":"corporate-america-cuts-thousands-of-jobs-as-recession-looms","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/corporate-america-cuts-thousands-of-jobs-as-recession-looms\/","title":{"rendered":"Corporate America Cuts Thousands of Jobs as Recession Looms"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcorporate-america-cuts-thousands-of-jobs-as-recession-looms%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1739701&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>(Reuters)\u2014Corporate America is making deep cuts to its employee base as part of its restructuring efforts to navigate a potential downturn in the economy from the U.S. Federal Reserve&#8217;s war on inflation.<\/p>\n<p>Job cuts announced by U.S.-based employers jumped 13% to 33,843 in October, the highest since February 2021, according to a report.<\/p>\n<p>Here are some of the major job cuts announced in recent weeks:<\/p>\n<p>Amazon.com Inc:<\/p>\n<p>The e-commerce giant is planning to lay off about 10,000 people in corporate and technology jobs, the New York Times reported.<\/p>\n<p>Meta Platforms Inc:<\/p>\n<p>The Facebook-parent said it would cut 13% of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as it grapples with a weak advertising market and mounting costs.<\/p>\n<p>Citigroup Inc:<\/p>\n<p>The bank eliminated dozens of jobs across its investment banking division, as a dealmaking slump continues to weigh on Wall Street\u2019s biggest banks, Bloomberg News reported.<\/p>\n<p>Morgan Stanley:<\/p>\n<p>The Wall Street is expected to start a fresh round of layoffs globally in the coming weeks, Reuters reported on Nov. 3, as the Wall Street bank&#8217;s dealmaking business takes a hit.<\/p>\n<p>Intel Corp:<\/p>\n<p>Chief Executive Officer Pat Gelsinger told Reuters &#8220;people actions&#8221; would be part of a cost-reduction plan. The chipmaker said it would reduce costs by $3 billion in 2023.<\/p>\n<p>The adjustments would start in the fourth quarter, Gelsinger said, but did not specify how many employees would be affected.<\/p>\n<p>Microsoft Corp:<\/p>\n<p>The software giant laid off under 1,000 employees across several divisions this week, Axios reported, citing a source.<\/p>\n<p>Johnson &#038; Johnson:<\/p>\n<p>The pharmaceutical giant said it might cut some jobs amid inflationary pressure and a strong\u00a0dollar, with CFO Joseph Wolk saying the healthcare conglomerate is looking at &#8220;right sizing&#8221; itself.<\/p>\n<p>Twitter Inc:<\/p>\n<p>The social media company laid off half its workforce across teams ranging from communications and content curation to product and engineering following Elon Musk&#8217;s $44 billion takeover.<\/p>\n<p>However, Bloomberg on Sunday reported Twitter was reaching out to dozens of employees who lost their jobs, asking them to return.<\/p>\n<p>Lyft Inc:<\/p>\n<p>The ride-hailing firm said it would lay off 13% of its workforce, or about 683 employees, after it already cut 60 jobs earlier this year and froze hiring in September.<\/p>\n<p>Warner Bros Discovery:<\/p>\n<p>Film subsidiary Warner Bros. Pictures is planning to cut a number of jobs in distribution and marketing that will reduce headcount by 5% to 10%,<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters)\u2014Corporate America is making deep cuts to its employee base as part of its restructuring efforts to navigate a potential downturn in the economy from the U.S. Federal Reserve&#8217;s war on inflation.<br \/>\nThe post Corporate America Cuts Thousands of Jobs as Recession Looms appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":66,"featured_media":1739704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-1739701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1739701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1739701"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1739701\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1739704"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1739701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1739701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1739701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}