Unemployment

The tech layoff wave is still kicking in 2025. Last year saw more than 150,000 job cuts across 549 companies, according to independent layoffs tracker Layoffs.fyi. So far this year, more than 22,000 workers have been the victim of reductions across the tech industry, with a staggering 16,084 cuts taking place in February alone. We’re tracking layoffs in the tech industry in 2025 so you can see the trajectory of the cutbacks and understand the impact on innovation across all types of companies. As businesses continue to embrace AI and...

The Federal Reserve kept its key interest rate unchanged Wednesday, brushing off President Donald Trump’s demands to lower borrowing costs, and said that the risks of higher unemployment and higher inflation have risen. The Fed kept its rate at 4.3% for the third straight meeting, after cutting it three times in a row at the end of last year. Many economists and Wall Street investors still expect the Fed will reduce rates two or three times this year, but the sweeping tariffs imposed by Trump have injected a tremendous amount...

The workforce reduction equates to approximately 2% of our U.S. firm, the spokesperson said. PwC employs more than 75,000 people in the United States. “This was a difficult decision, and we made it with care, thoughtfulness, and a deep awareness of its impact on our people, appreciating that historically low levels of attrition over consecutive years have made it necessary to take this step”, PwC said in a statement. Last year, Reuters had reported that PwC was considering slashing up to half its financial services auditing staff in China, as...

OAKLAND — Faced with a crushing financial deficit totaling $265 million over the next two years, Oakland’s interim mayor proposed a budget Monday that includes dozens of layoffs and the freezing of hundreds of other positions. But the two-year budget spares the city’s police and fire departments from further staffing cuts. Councilmember Kevin Jenkins — serving as the city’s acting leader before Mayor-elect Barbara Lee is sworn in later this month — laid out what he called a “pathway to financial stability” aimed at beginning the long, arduous process of...

Based on a new report from Bloomberg, Rite Aid employees received a letter today from CEO Matthew Schroeder sharing that the company’s negotiations with lenders for more capital have failed. He went on to explain that the pharmacy chain can no longer sustain itself and intends to file Chapter 11 bankruptcy. Per the letter, the company will start by cutting jobs at its corporate offices in Pennsylvania, a move Schroeder attributed to “the dramatic downturn in the economy.” An apparent copy of the letter is now making its rounds on...

The U.S. Court of Appeals for the D.C. Circuit delivered the Trump administration a "huge victory" on Saturday, blocking the order of a lesser court that required the reinstatement of over 1,000 Voice of America employees. Kari Lake, senior adviser for the U.S. Agency for Global Media, which supervises Voice of America, the Office of Cuba Broadcasting, and a handful of other state-funded outfits including Radio Free Europe, called the ruling a "BIG WIN in our legal cases at USAGM & Voice of America. Huge victory for President Trump and...

The Trump Administration’s funding shell game over the health program that treats 9/11 first responders with Ground Zero-related illnesses continued this weekend with a fresh round of layoffs — and New York’s Senate delegation is calling on their Republican colleagues to step up and save the program. Friday’s mass layoffs at the National Institute for Occupational Safety and Health became the latest blow to the World Trade Center Health Program, which is caught in a back-and-forth funding drama as Trump and Heath and Human Services Secretary Robert F. Kennedy Jr....