Over 1 million layoffs in a year

Layoffs in the United States exceeded 1 million in a single year during several periods, notably during the following years leading to a recession, except for 2020 due to Covid. US companies see the storm coming next year and are preparing for it by tightening the belt.

2001: The dot-com bubble burst and a subsequent recession led to significant layoffs, with over 1 million jobs lost.
2008: The financial crisis resulted in widespread layoffs as the economy entered a deep recession. Job losses exceeded 1 million during this year.
2020: The COVID-19 pandemic triggered mass layoffs, with more than 20 million jobs lost in the early months.
2025: October marked the 1 million mark and the year is not even over.

#Downsizing #EconomicDownturn #JobSecurity

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The bigger question is how many layoffs in the railroading industry was Vena involved with? He was at the CN for 40 something years. Then he came to the UP and slashed thousands of jobs. He's only been here for two years this time and before that I think was just under two years. If you look up his name, then you'll see he was named in a lawsuit or two at the CN. If you look really deep, then I'm sure his name will pop up in some other's as well. Covid was nothing more than a excuse that the UP used to get rid of people. When Covid went away, the business came back, and the UP ended up in front of Congress answering questions why the UP was doing so poorly.

This isn’t to put down anyone but I was involved in a work/life balance audit a few years ago. Half way through the audit we were told to expand to include “utilization”. Basically they wanted to know how busy people were. Many or most lower level folks were fully utilized. The top were very busy. Middle 75% were not working more than 65% of the time.

Management knew the results but didn’t act on it. Something like 700 employees could have been laid off!!!!

Thread regarding Union Pacific Corp. layoffs

Over 1 million layoffs in a year

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