Why are there so few workers for so many open jobs? It’s one of the biggest mysteries about the U.S. economy and helps explain why a big labor shortage is Read more
Tag: redundancies
U.S. job creation slowed to 261,000 last month — but it’s still too strong for the Fed
The numbers: The economy gained a surprisingly strong 261,000 new jobs in October, underscoring the persistent strength of a labor market that the Federal Reserve worries will exacerbate high inflation. Read more
Coming up: U.S. jobs report for October
The U.S. is forecast to add 205,000 new jobs in October, according to economists polled by The Wall Street Journal. The unemployment rate is expected to stay at 3.5%. Wages Read more
Twitter plans mass layoffs Friday morning
Twitter Inc. will begin mass layoffs Friday morning, as Elon Musk looks to slash costs at the social-media company that he acquired last week for $44 billion. In an unsigned Read more
Lyft lays off 13% of workers in second round of cuts this year, maintains financial guidance
Lyft Inc. is laying off 13% of its workforce, which amounts to 683 jobs, in what its executives are calling a proactive step as they look to a possible recession Read more
Stripe to lay off 14% of staff as CEO says he made ‘two very consequential mistakes’
The massive financial-technology unicorn Stripe plans to lay off 14% of its employees, becoming the latest tech company to acknowledge that it had been too upbeat about growth trends levered Read more
Jobless claims dip to 217,000 and stay near pandemic lows
The numbers: The number of people who applied for unemployment benefits at the end of October fell slightly to 217,000 and clung near pandemic lows, signaling the labor market is Read more
U.S. jobless claims dip to 217,000 and stay near pandemic lows
The numbers: The number of Americans who applied for unemployment benefits at the end of October fell slightly to 217,000 and clung near pandemic lows, signaling the labor market is Read more
Elon Musk plans to cut Twitter’s workforce in half: report
Elon Musk plans to slash Twitter Inc.’s workforce by 50% as soon as Friday, according to a new report. Citing anonymous sources with knowledge of the matter, Bloomberg News reported Read more
Job openings likely to dip, but not enough to tame inflation
Job openings have fallen from a record high and hiring has slowed, but not enough to mollify a Federal Reserve bent on crushing high inflation. Here’s what to watch in Read more