A new wave of layoffs is washing over the U.S. as several big companies reevaluate staffing plans and settle in for a long period of uncertainty.
David Rubenstein, co-executive chairman of Carlyle Group said, “Privately, some of them may hint that they probably won’t need as many workers as they once thought.” He added “They’ll have to reinvent their businesses in ways that they hadn’t done before.”
Diane Swonk, chief economist at Grant Thornton said, “Companies that thought they could either cut wages temporarily or cut costs temporarily or hold on are now finding out that the weakness of the pandemic is now longer than they hoped.”
More fresh layoffs at big employers loom. A day after Salesforce.com Inc. posted record quarterly sales, the business-software company notified its 54,000-person workforce that 1,000 would be losing their jobs later this year.
Coca-Cola Co. said Friday it plans to lay off some employees and offer voluntary buyouts to about 4,000 employees in the U.S. including Puerto Rico as well as Canada. American Airlines Group Inc. and United Airlines Holdings Inc. have announced more than 53,000 workers could be affected in about a month if the airlines don’t receive another infusion of funds from the government.
