2023 Job Cut Watch: Keeping up with the Latest Companies Announcing Layoffs
The job market has been a rollercoaster ride ever since the pandemic hit, with thousands of people losing their jobs every month. Companies around the world have been forced to cut down on expenses, and one of the easiest ways to do so is by laying off employees. With 2023 just around the corner, it’s time to brace ourselves for another wave of job cuts. Here’s a rundown of the latest companies announcing layoffs and what you should keep an eye out for.
The Companies Announcing Layoffs
Many well-known companies have already announced layoffs, and many will still do so until 2023. Some of the most recent announcements include:
– IBM: The company plans to lay off approximately 10,000 employees by the end of 2021, with many more job cuts expected in 2022 and 2023.
– Deutsche Bank: The bank plans to cut around 18,000 jobs by 2023, with many of the layoffs expected to affect its investment banking division.
– HSBC: The bank plans to cut around 35,000 jobs by 2023, with many of the layoffs expected to affect its commercial banking division.
– Ford: The car manufacturer plans to cut around 7,000 jobs worldwide by 2023, with many of the layoffs expected to affect managers and salaried workers.
What This Means for the Job Market
While job cuts are never good news, they’re unfortunately a reality we’ll have to face until the economy stabilizes. With companies cutting jobs left and right, the job market is becoming increasingly competitive, with more candidates competing for fewer positions. This means that job seekers will have to be even more diligent when searching for job opportunities, polishing their resumes and cover letters, and making sure they stand out from the crowd.
What This Means for Job Security
Job security seems like a thing of the past nowadays, with companies cutting jobs at any given moment. As such, it’s essential to always be prepared for the worst and have a plan in place in case you lose your job. This could involve saving up an emergency fund, taking courses to upskill yourself, or networking to increase your chances of landing a job.
Conclusion
It’s difficult to predict which companies will announce layoffs in 2023, but one thing is for sure – we’ll be seeing more job cuts as we move forward. This means that it’s more important than ever to stay in-tune with the latest news and announcements and to always be prepared for the possibility of losing your job. With the right mindset and strategy, however, you can still succeed in your career and rise to new heights.
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