Big names in tech like Peloton, Netflix, and Coinbase, who benefitted from a rise in demand during the pandemic, have recently announced major layoffs. Is this a mere blip or should we be expecting a wave of layoffs on the horizon? By using the latest data from the WARN Act, which requires companies to provide notice of at least 60 days to the DOL in case of a large layoff (50 employees or more), we can see what lay-offs are coming soon.
In the grand scheme of things, especially compared to Spring of 2020, things are looking really calm and steady at the moment.
By zooming in on the number of workers laid off in more recent times, and to be laid off in the coming months, we can see that there’s actually still little reason to be concerned.
That said, WARN data pertains to relatively large companies. But we can also track layoffs at smaller companies using Layoffs.fyi. Within these smaller firms we can see an increase in the current quarter, which suggests that small firms and start-ups are driving the current perception around these increasing layoffs.
To learn more about the data behind this article and what Revelio Labs has to offer, visit https://www.reveliolabs.com/.
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