Ford, HBO, and Best Buy are all laying off Employees

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By: Michael Anthony Incorvaia

Yesterday we found out that there will be more layoffs in a month, which has been quite the opposite of what happened in July. Ford will be laying off 3,000 workers this week, with 2,000 of those people being salaried jobs at the Dearborn, Michigan automaker. The other 1,000 employees are working in contract positions with outside agencies, the company said as per Wall Street Journal. This job cut means that Ford is showing the continued pressure on companies right now in the economy. In Ford’s case, they are having to cut costs because of their expansion within the EV marketplace, as well as a recent court case against Ford that left them with a 1.7-billion-dollar verdict.

This is a continuation of last week when there was a large number of layoffs through many companies that needed to cut costs. This list of companies includes HBO, which laid off 14% of staff, Best Buy, and Pelton just to name a few. With the list of companies that are laying people off becoming more extensive, it shows the continued stress on the economy that is still very prevalent now that summer is coming to fruition many companies are cutting costs and laying off workers. Compiled together this is going to make the August and this quarter’s unemployment situation very intriguing. This is strictly because there is going to be continued pressure on many companies that could get worse and lead to more job cuts as we head deeper into the recession.

So, the question is what do you think the direction of jobs is heading in the short-term future?