US EditionRising Layoffs Signal End Of U.S. “Low-Hire, Low-Fire” Era
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Rising Layoffs Signal End Of U.S. “Low-Hire, Low-Fire” Era
For years, the U.S. job market had one silver lining: layoffs were relatively rare. Unfortunately, that trend is now taking a turn as many major companies are cutting staff at rates not seen in over a decade, raising concerns among economists about the health of the labor market. Recent high-profile cuts include Starbucks (900 corporate roles), Target (1,800), Amazon (14,000), and Paramount (1,000). Each company points to different reasons — cor…
Amazon’s executive director, Andy Jassy, explained that the recent decision to eliminate 14,000 posts does not respond to financial problems or to the immediate advance of artificial intelligence. During the presentation of the results of the technological giant, the director stated that the measure is linked to corporate culture and not to economic pressures. “It was not due to economic motives or AI, at least for now. It is a cultural issue,” …
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