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Covid's 'legacy of weirdness': Layoffs spread, but some employers can't hire fast enough - TL;DR CNBC

Covid's 'legacy of weirdness': Layoffs spread, but some employers can't hire fast enough

Publishing timestamp: 2023-02-20 09:00:01


Summary

Job cuts are rising at some of the biggest US companies, but others are still scrambling to hire workers due to the wild swings in consumer priorities since the Covid pandemic began. Service industries such as hospitality and restaurants have been hiring to rebuild after the pandemic, while tech giants such as Meta, Amazon and Microsoft have announced job cuts. Wages for workers in leisure and hospitality industry have risen, but some analysts and economists warn that weakness in some sectors, strains on household budgets, drawdown on savings and high interest rates could further fan out job weakness in other sectors. Companies such as Boeing and Chipotle are still adding employees, while some companies have had to raise wages to attract and retain staff.


Sentiment: MIXED

Tickers: MSFTBAGSCMGWMTBLKZMAMZNGMDISMETA

Keywords: marketsaerospace and defense industryblackrock inctransportationlifetravelchipotle mexican grill inctechnologybusiness newseconomyu.s. economyamazon.com incbusinessunemploymentboeing comicrosoft corpmeta platforms incjobsbreaking news: businesswalt disney coairlineswalmart incretail industryrestaurantsgeneral motors cogoldman sachs group incpoliticszoom video communications inc

Source: https://www.cnbc.com/2023/02/20/weird-job-market-layoffs-hiring.html


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