- WSJ reports CVS has cut 5,000 corporate jobs.
- Gap, Whole Foods, and other companies have announced layoffs in recent months.
- View the complete list of layoffs in 2023.
Wave of layoffsThe wave of bankruptcy filings that began to affect US companies at the end of 2022 is not expected to slow down until well into 2023.
CVS, the pharmacy titan, has cut about 5,000 positionsThe Wall Street Journal reported that the majority of these positions are corporate. The Journal reported that the company did not expect to see any cuts in roles that are directly related to customers, such as those at pharmacies and stores.
This news comes on the heels recent job reductions at companies like Binance Niantic Robinhood Grubhub Spotify.
The companies announced mass layoffs during the first week of 2023, amid an economic slowdown and stagnant sales.
Meta, Twitter and other companies made major reductions last year.
The tech sector has been the most affected by layoffs. Data from Layoffs.fyi, a site tracking layoffs since the start of the pandemic, tech companies slashed more than 223,000 in 2023 alone — compared to during the pandemic, when they cut 80,000 in March to December 2020 and 15,000 in 2021.
The following are some notable job reductions so far in the year 2023.
