U.S._ Corporate America Leans on Job Cuts as Recession Fears Mount

NEWSMAX

Corporate America Leans on Job Cuts as Recession Fears Mount

(AP)

Monday, 07 November 2022 02:55 PM EST


Corporate America is cutting thousands of jobs to rein in costs amid tightening monetary policy and growing fears of a recession.

Job cuts announced by U.S.-based employers jumped 13% to 33,843 in October, the highest since February 2021, a report said.

Here are some of the major job cuts announced in recent weeks:

Meta Platforms Inc.

The Facebook-parent plans to begin large-scale layoffs this week, in a move that will affect thousands of employees, the Wall Street Journal reported on Sunday.

Morgan Stanley

Morgan Stanley is expected to start a fresh round of layoffs globally in the coming weeks, Reuters reported on Nov. 3, as the Wall Street bank's dealmaking business takes a hit.

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READ MORE: https://www.newsmax.com/finance/streettalk/layoffs-recession-facebook/2022/11/07/id/1095202/

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