The Chapter 11 bankruptcy filed Sunday arrives just three years after Yellow received $700 million in pandemic-era loans from the federal government. Yellow has hundreds of workers in Indiana.
The company reported having 60 employees in the United States in early 2022, though it’s not known if that number included about 25 employees at an engineering center in California.
LSC Communications has been struggling due to a steady decline in demand for long-run catalog and magazine printing and has closed several plants in recent years.
The laid-off employees’ profiles indicate that the cuts spanned multiple departments at Formstack, including marketing, public relations, human resources, customer service, sales and product design.
Despite the drop, the number of layoffs ticked lower in February, and more Americans quit their jobs—a sign of confidence they can find better pay or working conditions elsewhere.
McDonald’s has more than 150,000 employees in corporate roles and in company-owned restaurants. It warned employees in January that layoffs would be coming.
Citing “changing market conditions,” the company said in a letter to the Indiana Department of Workforce Development dated Wednesday that the closure would be permanent.
Many tech companies admit that they hired too much during the pandemic, betting that lifestyle changes—including remote work, e-commerce spending and video-game habits—would bring a bigger windfall. Now they’re dealing with the aftermath.
The job cuts amount to about 3% of the entertainment giant’s global workforce and were unveiled after Disney reported quarterly results that topped Wall Street’s forecasts.
In just the past month, there have been about 50,000 job cuts across the technology sector. Here’s a look at some of the companies that have announced recent layoffs.
The music streaming giant has about 9,800 employees. In recent years it has made a massive investment in acquiring podcast networks, creation software, a hosting service and the rights to popular shows like “The Joe Rogan Experience” and “Armchair Expert.”
The company said in a regulatory filing Wednesday that the layoffs were a response to “macroeconomic conditions and changing customer priorities.”
The global tech giant revealed Wednesday that planned to lay off about 10% of its employees companywide and shrink its real estate footprint. But execs are mum on the possible ramifications for downtown’s Salesforce Tower.
Corteva Inc., the Indianapolis-based seed and insecticide giant, is cutting 5% of its global workforce, or roughly 1,000 workers, as it reduces its portfolio of products and streamlines its operations.
The e-commerce giant is expected to cut about 10,000 workers, or 3 percent of its corporate workforce.
Eliminating the back-office jobs in the U.S. and Canada and moving the functions overseas is expected to result in cost savings of more than $10 million per year, according to the auto auction firm.
Facebook is instructing its engineering managers to identify and weed out their lowest performing employees as the company seeks to rein in costs amid an economic downturn in the long-booming tech industry.
Tech has hit a well-publicized slump, and within the last few months, layoffs have hit big companies like Netflix and Coinbase as well as smaller firms like Zionsville-based 120Water, Indianapolis-based Casted, and Terminus, which is based in Atlanta but has an employee base and its CEO in Indianapolis.
Little Raymond’s Print Shop, which opened a facility on the east side of Indianapolis in 2013, said it has terminated 114 employees.
The Terre Haute plant was the first manufacturer of compact discs in the U.S., beginning production in September 1984 with Bruce Springsteen’s “Born in the U.S.A” album.
