The monthly U.S. Jobs Report is an extremely important number that gives Americans a snapshot of the health of the nation’s economy.
But Joe Biden’s Administration continues to lie and fudge the numbers, making things appear to be much better than they really are.
But the media and the Biden Administration keep up their lies about the economy, fudging the job numbers as this iconic retailer announces layoffs and store closures.
Macy’s announces massive layoffs
With prices and interest rates at extreme highs, many retailers are feeling the pinch, including the iconic American retailer, Macy’s.
The department store chain said it’s planning to lay off approximately 13 percent of its corporate staff and will close five stores permanently.
The move comes in an effort to cut more costs and redirect spending that will help improve the customer experience.
According to The Wall Street Journal, the job cuts will total around 2,350 positions, which equates to nearly 3.5 percent of Macy’s overall workforce, excluding temporary, seasonal workers.
The Journal cited a memo sent to employees that reported Macy’s plans to add more automation to its supply chain and to outsource some roles.
The memo did not specify exactly which jobs it plans to outsource, but the company also plans to reduce management layers to help speed up decision-making.
Macy’s says it will invest in areas that affect consumers, like adding visual display managers to upgrade the aesthetics of its stores and will upgrade digital functions to help make shopping online easier.
Of the five store closures, two are located in California – one in Simi Valley and one in San Leandro.
The other three store closures are located in Arlington, Virginia, Lihue, Hawaii, and Tallahassee, Florida.
Macy’s isn’t the only massive retailer planning to cut jobs and costs.
Popular online furniture and home décor retailer Wayfair plans to cut approximately 1,650 jobs or nearly 13 percent of its global workforce.
The company’s plan to restructure includes reducing team sizes and making other changes to help “rebuild with modified leveling,” according to CEO and co-founder Niraj Shah.
In a memo sent to employees, Shah wrote, “The natural question is to ask, ‘Why?’ I think the reality is that we went overboard in hiring during a strong economic period and veered away from our core principles, and while we have come quite far back to them, we are not quite there.”
Layoffs are affecting more than retail
It’s not just retail companies that are feeling the pinch of Bidenomics.
Even massive industries like tech and auto manufacturing are making some massive decisions when it comes to the future of their employees.
Tech giant Google just announced it will make two rounds of layoffs, eliminating hundreds of roles in advertising, sales, hardware, and central engineering.
Many of the layoffs will affect employees who worked on Google Assistant, the company’s voice-activated product.
Other tech companies that have recently announced layoffs include Twitch (Amazon’s live-streaming platform), Discord, and Duolingo.
Companies like Ford and General Motors are also laying off employees, largely due to the massive decline in demand for electric vehicles.
Informed American will keep you up-to-date on any developments to this ongoing story.