Permanent layoffs are skyrocketing and it will get worse

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Permanent job losses

The new layoffs will be permanent.

GM Resorts International and Stanley Black & Decker Inc. recently told some employees on leave at the start of the coronavirus pandemic that they would not be put back on the payroll. And companies bringing back the majority of workers on leave, including Yelp Inc. and Cheesecake Factory Inc., are making cuts as they adjust to the new reality that many coronavirus-related closures will go unresolved. this autumn.

New layoffs are looming among large employers. A day after Salesforce.com Inc. posted record quarterly sales, the enterprise software company informed its 54,000 employees that 1,000 would lose their jobs later this year. Coca-Cola Co. on Friday announced plans to lay off some employees and offer voluntary buyouts to about 4,000 employees in the United States, including Puerto Rico and Canada. American Airlines Group Inc. and United Airlines Holdings Inc. said more than 53,000 workers could be affected in about a month if the airlines do not receive another injection of government funds.

Layoff announcements last month

These are the new announcements from last month with the layoffs in September and October.

It does not reflect the March-July announcements in effect in September or October.

Airlines were given $ 25 billion in March to halt layoffs until September, so beware of repeated announcements.

But Delta is planning 2,000 layoffs and it’s not in the list above. United either.

On July 8 United Airlines warns of 36,000 layoffs. That’s almost half of its American staff.

Air layoffs in October threatened

The Delta ad is for pilots only and is in addition to over 1,800 early retirement acceptances.

Allo notes that Delta Air Lines has said it is still overstaffed, even though 17,000 employees are taking buyouts and early retirements.

At a minimum, we are talking about a reduction of about 100,000 direct jobs in the airlines.

The devastating financial cliff of consumption is coming

The job cuts come just as pandemic aid expires. Therefore, a devastating financial cliff for consumers is fast approaching.

Mish



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