Layoffs

Claims aren't believed to be a negative sign of things to come in the overall labor market.

Major layoffs at companies like Meta and Amazon may not have big effects on non-tech employees.

While the WARN Act is a federal policy, some states have adopted their own versions to protect employees.

"Pure chaos," one Twitter employee said about management under Musk. "I can't see why anyone would want to work like this."

"I thought I definitely have a wig lying around, and I poured myself a glass of wine and just tried to make myself laugh," Isaac Moran told Newsweek.

"The whole class just got fired. Our job is no longer a part of their company," a woman is heard saying in the now-viral TikTok.

"I think it's time to move on, man," said one commenter on the update post on LinkedIn.

"Days like today, I wish I was a business owner that was only money driven and didn't care about who he hurt along the way. But I'm not," Braden Wallake wrote.

"Executive and senior leadership, even your managers, will start acting a little bit funny," Eve warned in her now-viral video.

The announcement comes as several other big companies across the nation have made similar moves.

"This is going to be a brutal recession," Peter Schiff told Newsweek. "I think it's going to be more of a depression by the time it's over."

No company can or should consider laying off people lightly.

There have been reports that thousands of North American employees will be cut from Ford.

The division is in the process of being divested by its parent company, Hitachi, as it moves more toward digital services.

The Tesla office in San Mateo, California, will reportedly be shut down permanently, with over 200 positions being eliminated.

Century Aluminum plans to layoff 628 employees from its Kentucky plant to battle high energy prices.

"We are not trying to induce a recession now," Fed Chair Jerome Powell said last Wednesday after raising interest rates. "Let's be clear about that."

The Tesla and SpaceX boss was interviewed virtually at Bloomberg's Qatar Economic Forum in Doha.

Elon Musk stated he wanted to cut 10 percent of Tesla's workforce because he had a "super bad feeling" about the economy.

"I got called into a meeting after I clocked in with hundreds of other people in the same room and was notified we would be let go," the woman said.

The company is letting go 9 percent of its workforce "to continue delivering on our strategic goals and furthering our mission to democratize finance."

Robinhood CEO Vlad Tenev said that laying off around 340 employees would help the company be "responsive to the changing needs of our customers."

CNN's former CEO Jeff Zucker, who was involved in the development of CNN+, was forced to resign in February.

Final approval for Nord Stream 2 had been put on hold because of Russia's actions in Ukraine.

"I own the decision to do the layoffs, but in communicating it, I blundered the execution. In doing so, I embarrassed you," Vishal Garg wrote in a letter.

"The day after posting the video I had [seven] interviews and more throughout the week," explained marketing specialist Jay Beech.

The number of employees being laid off has dropped, but businesses are still struggling to find employees to fill vacancies left by the pandemic layoffs.

About 27 out of 50 of the country's biggest companies were laid off workers this year, despite nearly all of them turning a profit.

Although it's a common practice for campaigns to wind down following an election, Trump campaign employees supporting legal operations have yet to be given an end date.

The transition rate from temporary to permanent layoffs nearly doubled from June to July.