The mass layoffs and shutdown’s keep coming……
Later today ole Jerome and Fed should hike interest rates again I’d assume?
Consumer prices gonna keep rising….
Jenny Craig will close its doors after four decades in the weight loss and nutrition business, according to internal communications to employees reviewed by NBC News.
In an email sent to employees late Tuesday, the company said it will close “due to its inability to secure additional financing.” Jenny Craig corporate and salaried field employees’ last day will be Friday, and hourly center employees’ last day working was Tuesday. The company operated about 500 company-owned and franchised stores in the United States and Canada, according to H.I.G. Capital when it acquired Jenny Craig for an undisclosed amount in April 2019. It now employs more than 1,000 people.
Last week, corporate employees at the company’s Carlsbad, California, office received a WARN Act notice that the company would be closing the office June 24, but may close as soon as Friday. A FAQ was also sent by Jenny Craig to employees, explaining that it would wind down physical operations to transition to an e-commerce model.
For the past two weeks, Jenny Craig had been running out of money as it searched for a buyer…..
BuzzFeed, Lyft, Whole Foods and Deloitte all recently announced layoffs affecting thousands of US workers. They join a growing list of companies cutting back on their workforce this year amid concerns about economic uncertainty, as well as the need to rightsize after going on a hiring spree during the pandemic.
The slew of widely publicized layoffs comes as the job market begins to slow, following months of historic post-pandemic growth. US employersadded just 236,000 jobs in March, below expectations — and a sign that the Federal Reserve’s yearlong rate-hiking campaign to chill inflation is now also cooling the labor market.
First-time claims for unemployment benefits rose to 245,000 for the week ended April 15, above expectations of 240,000, according to data released Thursday by the Department of Labor. March’s shift in momentum indicates that could be changing. Around 89,703 layoffs were announced in March, a 15% gain from February, according to a report from global outplacement firm Challenger, Gray & Christmas.
Here is a list of major companies that have reduced their workforces this year…
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