I hate to say it, but welcome to Trump's economy companies have started a new wave of layoffs as stock markets hit new highs. The reason I'm writing the piece is because my company just quietly laid off a significant amount of people when compared to the department. The comes one the heels of a even larger layoff that was publicly announced a whole back. So it got be wondering what the job landscape was looking like now that Trump is in office and let me tell you the news is bleak.
Firs off, I saw that CNN plans to lay off hundreds of employees Thursday as it refocuses the business around a global digital audience. The layoffs come as CNN is rearranging its linear TV lineup and building out digital subscription products. The cuts will help CNN lower production costs and consolidate teams.
Next I saw a headline that Biogen research team was hit by layoffs as company shifts resources to external opportunities. This announcment is not far off from their last round of cuts were more than 1,000 employees lose their jobs.
The biggest news that's been taking over headlines is that the Trump administration is laying off all federal employees in DEI offices. An executive order from President Trump directed all agencies to cease any DEI activities immediately and workers were sent home with pay, but they promised that wont last long.
Worst yet, I saw that Stripe mistakenly sent some workers an image of a duck as it announced 300 lay offs...This is also not their first round of layoffs. The company cut around 1,000 jobs in 2022 and a few dozen in mid-2023, mostly from its recruiting department.
I have a feeling this is just the start and I am projecting 2025 to be rougher than most anticipate. With more layoff I'm aslo expecting companies may also consider cutting costs by reducing salaries, benefits, bonuses and office space. I bet these billionaire will make more money than ever at our expense.