Reported about 6 hours ago
Large employers such as Amazon, UPS, Nestlé, and Meta are implementing significant workforce reductions amidst a challenging labor market. Amazon plans to cut approximately 14,000 roles, while UPS has eliminated about 34,000 positions to boost efficiency. Target and Paramount Skydance are also set to lay off thousands. Despite signs of a slight recovery in October, younger workers are particularly affected, with long-term unemployment rates at their highest in three years. Factors contributing to these layoffs include company mergers, inefficiencies, and the impact of AI on job demand.
Source: YAHOO