The nation is bracing for recession. The Federal Reserve continues to steadily raise its federal funds rate in an attempt to kill inflation, and many experts fear an economic downturn will be an unfortunate side effect of that campaign.
CEOs of major companies are especially worried that the economy will contract soon. A staggering 86% of chief executives polled in October forecast a recession in 2023. And they are wasting no time getting ready for hard times.
At least seven big companies recently have announced layoffs of 1,000 employees or more. Some of these companies are trying to restructure, while others appear to be getting lean and mean before a downturn potentially arrives.
Following is a roll call of the firms slimming their workforces.
Amazon recently notified staff that the company plans to lay off around 10,000 employees. The