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This has been a busy week for layoff news:
Amazon is laying off 14,000+ corporate employees
UPS is eliminating 14,000 management roles
Target is cutting 1,800 jobs
Meta, Rivian, and other big companies announced (or continued) cuts
The Wall Street Journal reports that white collar jobs are disappearing by the tens of thousands.
We’ve seen something like this go down before. Companies announce layoffs, wait for the market to soften, then initiate huge stock buybacks. Over the past few years, this has become a pretty predictable pattern.
However, something different is happening now… and understanding the distinction could define what you do next.