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Suzanne Blake

By Suzanne Blake

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Many companies have announced they will be laying off employees in March.

Companies are required to send out a Worker Adjustment and Retraining Notification Act (WARN) notice before implementing mass layoffs. More than 90 employers are planning to let workers go in March, according to WARNTracker.com.

Why It Matters

As companies deal with inflation and shifting consumer demand, many have faced financial strife in the years following the pandemic.

Read More on U.S.

While tech layoffs have been some of the most commonly discussed in the news, workers are being let go industrywide in efforts by companies to boost profits.

Hiring sign Target california

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What To Know

Nearly 100 companies have announced layoffs scheduled for throughout March. The full list, based on WARN notices via WARNTracker.com, is as follows:

The number of employees laid off per company varies from between one and 10 to up to 500.

While Walgreens is potentially laying off hundreds of employees across California, other companies like fabric and crafts retailer Joann face total store shutdowns, eliminating their workforce from distribution and fulfillment centers.

Based on WARN notices for California and Oregon workers, Macy's could also see hundreds of employees let go during March.

What People Are Saying

Kevin Thompson, a finance expert and the founder and CEO of 9i Capital Group, told Newsweek: "Companies across multiple sectors are preparing for layoffs next month, driven by rising costs and economic pressures...The primary driver behind these layoffs is the rising cost of capital.

"With interest rates remaining high, corporate margins are shrinking, forcing businesses to cut back. The era of cheap money and unlimited spending is over, and companies are now being forced to operate more efficiently."

Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "The projected layoffs for March go back to headlines we've been seeing in recent weeks of both Big Tech and major retailers scaling back their workforces due to efficiency quotas and in some situations slowing sales growth. If you look at the overall job market, it's largely healthy, but layoffs like these do cause concern.

"Economic factors can be like dominoes falling, where one triggers another quite rapidly. With many businesses projecting slowing sales in 2025, that will more than likely not be good for their respective employee bases. It appears that the inflationary pressures of the past few years are finally catching up with a labor market that up until now has felt largely unscathed."

HR consultant Bryan Driscoll told Newsweek: "Corporate greed is alive and well. These layoffs are not about company survival. They're designed to protect profit margins and shareholder returns.

"This is a stark reminder to all workers that your employer won't love you back. Workers are disposable, and corporations will always put profits over people unless they're forced to do otherwise. Instead of asking whether these layoffs reflect a weakening job market, we should be asking why, in an era of record profits, workers are still the first ones sacrificed."

Michael Ryan, a finance expert and the founder of MichaelRyanMoney.com, told Newsweek: "What's really interesting is that corporate profits are still pretty healthy! It's not like these companies are struggling to stay afloat. They're making these cuts while their bottom lines look good, which makes you wonder what's really driving this. I think what we're seeing isn't just a normal economic hiccup. It feels more like companies are using this moment to fundamentally reshape how they operate. They're thinking, 'Well, if we can replace these positions with automation, why wouldn't we?'"

What Happens Next

The sheer number of layoffs may signal that companies have become too accustomed to an "era of easy money," Thompson said.

"When access to capital is lax, companies often pursue aspirational ideas rather than practical ones," Thompson said. "Now, with borrowing costs rising, businesses across multiple sectors—including tech, aerospace, and corporate industries—are being forced to reassess priorities and cut back on spending."

In the next few months, Americans should anticipate weaker employment reports, especially as federal worker layoffs are added to the mix.

President Donald Trump previously signed an executive order to reduce the federal workforce under the guidance of the Department of Government Efficiency (DOGE). To reduce the workforce numbers, probationary employees have been let go across several federal agencies.

"With so many people hitting the unemployment line at once, the broader effects on consumer spending, economic growth, and corporate strategy will become more evident as the dust settles," Thompson said.

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