According to the Forbes layoff tracker, more than 46,000 people lost their jobs in two dozen large corporate layoffs in November.
In November, more than two dozen large companies laid off workers.
Jesse Powell, the founder and CEO of Kraken, blamed macroeconomic and political factors for the company's decision to lay off 1,100 employees.
Following HP Inc's announcement last week to cut between 4,000 and 6,000 employees by the end of the year, as well as cuts at AMC Networks, Nuro, and other companies, Kraken is the latest major U.S. company to implement massive reductions this month.
Roughly 1% of the company's 155,000 employees will be cut as part of a cost cutting effort.
In a letter to employees, the CEO of DoorDash said the company isn't immune to the external challenges and that its growth has "tapered" since its "unprecedented" expansion at the start of the Covid.
CNN CEO Chris Licht confirmed a round of layoffs that are expected to affect hundreds of employees, one month after he warned employees of upcoming "unsettling" changes.
This year, there has been a reduction in the number of employees at thecryptocurrencies companies. The Digital Currency Group laid off employees. The number of employees that would be laid off by the exchange was reported to be much higher. There could be as many as 2000 laid off employees at the site. Cryptocurrencies have taken a significant fall over the past year, with the price of ether falling to $1,263 from $4,599 a year ago.
The San Francisco Bay Area is home to many companies that have implemented massive cuts.
12,000. The biggest reduction this fall followed by a round of cuts at Amazon could affect as many as 10,000 employees. Two weeks after it announced layoffs, the company is cutting 4,100 employees, while the CEO of the company is planning to cut 3,750 employees.
Over 100 large companies running the gamut from retail to banks have conducted massive rounds of job cuts since May, as employers feared rising inflation and four rounds of Federal Reserve interest rate hikes could bring the economy into recession. According to economists, a recession could come as early as next year, and even though inflation has slowed recently, they still think there will be a recession in three years.
Powell said that despite some promising developments, we have a long way to go in restoring price stability. It comes a week after the Fed indicated it will likely ease up on its aggressive interest rate hikes, which were intended to ease demand and slow inflation.
H&M is cutting 1,500 jobs.
The exchange laid off 1,100 workers.
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