100 US Companies Announce Layoffs In March
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4 March 2025
A wave of layoffs is sweeping across US companies as they strive to optimise operations amidst economic uncertainty
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Nearly 100 companies, including prominent retailers like Joann Fabrics and Walgreens, have announced plans to reduce their workforce in March
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The list of affected companies includes Intel, FedEx, Neiman Marcus, AT&T, Pregis, Fila USA and John Deere
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The number of employees laid off per company varies from between one and 10 to up to 500
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Macy's, which recently unveiled plans to close 66 stores as part of a broader strategy to shutter 150 retail locations over three years, will be laying off hundreds of employees
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Similarly, Walgreens is set to let go of staff in California and other states
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Rising interest rates, which increase borrowing costs, are cited by experts as a key factor contributing to the layoffs
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As companies navigate the uncertain economic landscape, streamlining operations and reducing costs have become imperative measures to ensure sustainability
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However, Michael Ryan, a financial advisor, believes that AI is a key reason behind these announcements
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He says that companies are considering replacing jobs with automation, where possible
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