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On the good news/bad news roller coaster that is the U.S. economy, many headlines at the end of August suggested a downward turn: a wave of layoffs was reported across a range of industries.
Farmers Insurance was one of the latest national employers to announce layoffs: the company said on Aug. 25th that it would cut 2,400 jobs, or about 11% of its workforce. T-Mobile said it expected to lay off around 7% of its employees over the summer. Pharmacy giant CVS announced job cuts of 5,000 positions. JP Morgan announced earlier in the year it would cut 500 jobs. Shopify, Spotify, and Grubhub were among the tech/service companies that have also announced cuts in recent months.
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