Here Are Where Layoffs Are Now Affecting The Most People
Are you wondering where layoffs are now affecting the most people? Job cuts in the US have risen drastically this year.
However, there are some states where people have been affected more than others.
Franknez.com provides Americans with the latest layoff news so you can stay up-to-date on which businesses are letting go of their workforce in your state.
Can a layoff be wrongful termination?
In some cases, it can be.
For example, there are laws put in place that require an employer to notify employees in advance of upcoming job cuts and workforce reductions.
Under the Worker Adjustment and Retraining Notification Act, an employer with more than 100 full-time workers must provide a 60-day notice before laying off 50 or more people at a single site.
In many cases, someone might experience a ‘layoff for a lack of work’, meaning company trends and demands have shifted.
Layoff and severance packages go hand in hand, depending on the company.
A severance package is compensation and benefits offered to an employee when their employment is terminated, typically in a layoff situation.
Severance packages often include:
- A lump sum payment, typically based on the employee’s tenure and salary
Continuation of health insurance coverage for a period of time. - Outplacement services to help the employee find a new job.
- The purpose of a severance package is to provide financial and transitional support to the laid-off employee.
- The specifics of a severance package can vary greatly depending on the company, the employee’s position, and local labor laws.
Which State Has The Most Layoffs?
The state of California has historically had the most layoffs in United States, and is usually followed by Texas, per WarnTracker.
For example, in 2024 alone, California has tracked at least 20,730 WARN layoffs across a total of 513 companies.
Which businesses are currently laying off in the Golden State?
- Penumbra, Inc. 71 job cuts by 11/1.
- V2X dba Vertex Aerospace, LLC. 46 job cuts by 10/31.
- Cuberg, Inc. 196 job cuts by 10/19.
- Five9, Inc. 33 job cuts on 8/20.
- ITC Federal. 31 job cuts by 10/18.
- Canoo. 185 job cuts by 10/15.
- GRAIL, Inc. 179 job cuts by 10/14.
- Northrop Grumman. 430 job cuts by 10/14.
- Pitney Bowes Inc. 112 job cuts by 10/8.
- Save Mart Supermarkets LLC dba Roseville Distribution Center. 273 job cuts by 10/12.
- And the list goes on…
You can search for layoffs in your state here, or follow our layoff news for updates.
Also Read: Cisco Now Profits Billions And Makes Thousands of Unexpected Layoffs
Layoff and Unemployment Report
Applications for unemployment benefits now surge to new highs, a sign that the white-hot labor market is starting to cool off.
First-time applications for unemployment benefits rose last week to 231,000, the highest level since August, per CNN.
Thursday’s data also showed that the number of continuing claims, or applications from people who have filed for unemployment for at least one week, was 1.78 million.
That’s an increase of 17,000 from the prior week, according to the Bureau of Labor Statistics.
The latest numbers come less than a week after the monthly jobs report showed the US economy added just 175,000 positions in April, less than economists expected and a steep drop-off from prior months.
US employers have now added an average of 245,500 jobs per month, versus 2023’s 251,000-per-month average.
Still, hiring remains strong.
Although the unemployment rate ticked up to 3.9%, it as seen the 27th consecutive month that the jobless rate has held under 4%, matching a streak last seen in the late 1960s.
Weekly jobless claims data tends to be volatile but, while one week’s worth of data “does not a trend make,” said Chris Rupkey, chief economist at Fwdbonds.
“We can no longer be sure that calm seas lie ahead for the US economy if today’s weekly jobless claims are any indication.”
“Company layoffs are picking up, hinting at caution on the part of companies as they weigh the outlook for the second half of the year,” he wrote in a note Thursday.
The Federal Reserve has been battling inflation by raising its key lending rate in the hopes of slowing the economy.
While the labor market has so far resisted those efforts, remaining white hot for the past 18 months despite 11 rate hikes from the central bank, Fed Chair Jerome Powell said last week that demand has “cooled from its extremely high level of a couple of years ago.”
Ian Shepherdson at Pantheon Economics said in a note earlier this quarter: “We’d need to see at least a month of elevated readings to convince us that the trend really has turned.”
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Also Read: Retirees Will Now Receive More Money For Social Security
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