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By Suzanne Blake
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Many companies have already pre-announced their layoffs for May, and employees across several industries will be impacted.
Companies are required to send out a Worker Adjustment and Retraining Notification Act (WARN) notice before implementing mass layoffs. More than 120 employers are planning to let workers go in May, according to WARNTracker.com.
Why It Matters
Companies are facing rising costs and shifting consumer demand, causing many to evoke mass layoffs across departments.
Read More on U.S.
However, some of the other layoffs are happening as corporations seek to maximize profits rather than necessity, and the trend is happening across industries, experts say.
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What To Know
Nearly 130 companies will be letting employees go throughout the month of May.
The full list, based on WARN notices via WARNTracker.com, includes:
- Michael's Cookies
- Blue Shield of California
- Axient LLC
- BHFO
- Boston Scientific Corporation
- US Conference of Catholic Bishops
- RTX
- Movate
- Portland, Oregon Facility
- IDEA Southern Louisiana Idea Innovation
- Envision Physician Services
- Southeast Service Corporation Services for Education
- Durham School Services
- Corteva
- Northland College
- Graphic Packaging International
- Merlin Magic Shop
- JVS Masonry
- Grede
- Concordia University
- SSC Services
- FedEx
- Robert Kaufman Co
- Transdev
- Pretium Packaging
- Department of Health and Human Services
- Jacksonville Orthopedic Institute
- ST. Distributing
- SHG
- Redemption Restaurants
- Classic Beverage of Southern California
- Mandarin Oriental
- Freedom House
- Cornish College of the Arts
- Brinker International
- Roche Molecular Systems
- Gilead Sciences
- HSNi
- SouthState Bank
- VF's Dickies Headquarters
- Safeway
- Compass Group
- American Bar Association
- CSG Systems
- American Academy of Dramatic Arts
- Milgard Manufacturing
- Block
- American Medical Response Ambulance Service
- Key Energy Services
- SK hynix America
- Amentum
- Southeast Service Corporation
- Niantic
- National Distribution Centers
- Rem Optical Company
- Cruise
- CARGO Therapeutics
- Wells Fargo
- Atara Biotherapeutics
- SLS South Beach Employer
- Southern California Edison Company
- Mattel
- All For Kids
- Spoonful Management
- ICS
- Southern Glazer's Wine and Spirits of Louisiana
- COR Restaurant Services
- AT&T
- INOAC Exterior Systems
- Collins Aerospace
- VT Mobile Aerospace Engineering
- Jhpiego Corporation
- Johns Hopkins University
- Pitney Bowes
- Penney OpCo
- Grocery Delivery E Services
- Gate Gourmet
- Amazon
- Cepheid
- Onsemi
- Chewy
- Country Pure Foods
- F&E Aircraft Maintenance
- Output Services Group
- American Institutes of Research
- Cow Palace
- General Dynamics
- Bell-Carter Foods
- Ryder-Hutchins
- Centerra
- The Cheesecake Factory
- SP+, a Metropolis Company
- Primo Brands
- UPS
- Creative Associates International
- Royal Palm South Beach Miami
- Sodexo
- Microchip
- RR Donnelley
- PT Solutions
- Leidos Holdings
- Central Garden & Pet
- Laboratory Corporation of America Holdings
- Stockton Recycling
- Ascent Professional Staffing
- CBRE
- Charter Communications
- Northlake Engineering
- Tri Cor Direct Incorporated
- GEP Administrative Services
- Ameri Kleen
- Starbucks
- Corteva
- TL Cannon Management
- Miami Mezze
- Ritz-Carlton Hotel
- Burke Williams
- F21 OpCO
- Catholic Charities of Orange
- Frito-Lay
- American Freight
- US Foods
- Barrette Outdoor Living
- Atlas Holdings
- Evans Bank
- Macy's
- BetMGM
- UNFI
- Essendant
- JP Morgan Chase
The layoffs are occurring across industries, from retail and food service to tech and financial companies. The number of employees being let go per company varies from under 10 to hundreds.
What People Are Saying
HR Bryan Driscoll told Newsweek: "Workers should brace themselves, yes, not because they're underperforming, but because employers are still addicted to short-term balance sheet optics. We're watching health insurers and government agencies slash jobs while claiming they're realigning or restructuring. That's just code for cutting people to cut costs."
Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "It's a tale of two different kinds of layoffs. Federal government entities like the Department of Health and Human Services are going through a dramatic restructuring following the arrival of a new administration, meaning some positions will either be eliminated or combined with other roles for efficiency standards. At the same time, we're also seeing health insurers scaling back their workforces. Rising medical expenses paired with those who are insured utilizing their coverage more frequently have some insurers cutting jobs to free up cash in the face of lower revenues."
What Happens Next
Driscoll said companies will continue to cut jobs as a way to prioritize profits, and now the U.S. government has gotten on board as well.
"When public institutions like HHS do the same, it reflects a political and systemic failure to invest in the workforce needed to serve communities," Driscoll said.
"This isn't about the economy being weak - though it is getting there and there's just one person to blame. This is more about a labor market that continues to reward instability for workers while rewarding stockholders with efficiency and predictability. And no one at the top is skipping their bonus."
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