“These layoffs are being driven by a return of pre-pandemic employment levels,” said Brett House, a professor in the economics division at Columbia Business School.
When it comes to layoffs, most are hitting the tech and financial sectors, House said, with major employers such as Microsoft, Salesforce, Google and Meta slashing thousands of jobs within the past year. Tesla joined the group this week, announcing plans to cut more than 10 percent of its global workforce. Earlier this month, Amazon said it’s laying off hundreds of employees who work on its physical stores technology and sales and marketing teams in its cloud computing division. And for the first time since the pandemic, Apple is making its first big cut, laying off more than 600 workers in California.
The announcement comes after a slew of layoffs at the beginning of the year. Companies including Google, Amazon, Walmart, Morgan Stanley, Disney, Wall Street giant BlackRock and San Francisco-based gaming company Unity reduced head count within the first several weeks of the year.
Overall, the labor market is strong, and hiring has continued despite the cuts, House said. Layoffs will probably continue as companies adjust, but barring a major event, such as a recession, House expects the big cuts to die down later this year.
For workers facing a potential layoff or for those who already have been cut, the stress of job hunting can be overwhelming. Help Desk can assist you in navigating the process, such as by informing you of what to do before returning your work devices, helping you prepare for an AI interview, and offering best practices for getting noticed by your next employer.
We’ve put together a collection of resources you can click through below. And let us know what questions you still have. Drop me a line at danielle.abril@washpost.com.
- Job recruiters share the top résumé tips to help you stand out in automated screenings and with recruiters.
- You may be tempted to use the ‘white fonting’ hack to bypass AI and other tech filters. Learn what job experts advise.
- Your next job interview could be judged by AI. Here’s how to prepare.
- Check out these 11 tips to plan your health care after job loss.
- Read our layoff survival guide to get step-by-step advice on what to do before, during and after you’re let go.
- Before you leave your job, take some steps to secure your data before returning your work devices.
- Take a look at these apps and tools to help you land your next gig.
- Can’t get a call back from a job? You might be making one of these common mistakes.
- Learn how to control the narrative on what potential future employers can discover about you.
- If you’ve used your company-issued phone for personal as well as professional purposes, leaving your phone number behind may cause some headaches. Here’s how to navigate.
