We were warned that mass layoffs were coming in 2024, and we’ve already seen that forecast come to fruition in most states across the US. Georgia, Florida, and New Jersey were the latest victims after three companies sent WARN notices to employees, leaving hundreds of Americans without a job.
ShipMonk Laying Off 148 New Jersey Workers
On March 28, BedaBox LLC – doing business as ShipMonk – filed a WARN notice in Dayton, New Jersey, stating that 148 employees would lose their jobs by June 30, 2024. The move comes roughly one year after founder and CEO Jan Bednar stepped down from the company.
“I realized that for both my personal fulfillment and ShipMonk’s continued success, it was necessary for me to seek a new CEO who could take the company to the next level while allowing me to focus on what I love most within ShipMonk. I’m a builder and a creator,” he said at the time.
Aludyne Laying Off 193 Georgia Employees
Aludyne, a company that supplies lightweight solutions and components to the mobility industry, filed a WARN notice on March 27 that will affect 193 employees at their manufacturing facility in Columbus, Georgia. The layoff date is set for June 30, 2024.
Unfortunately, workers are painting a different picture – with some complaining that they could be fired any day now. “They keep saying, every day we come it something different,” one employee said in an interview with WTVM 9.
Student Transportation of America Laying Off 225 Staffers In Florida
On March 27, Student Transportation of America – a company that delivers safe and reliable transportation and fleet services to public and private schools – filed a WARN notice that will affect 225 employees at 340 Lee Road, Jacksonville, FL, 32225.
The layoffs are expected to take effect between May 30 and July 1. The company has already laid off hundreds of other employees in California, Kansas City, and Nebraska, but its Jacksonville announcement is the latest.
Reasons Behind Mass Layoffs Can Vary
Keith Spencer, a career expert at FlexJobs, discussed some of the reasons why so many companies are letting employees go. Among the most obvious are the larger economic landscape, market disruptions, industry shifts, and specific company restructuring.
“Companies might be able to reduce costs in the short-run, but could then see morale, productivity, and innovation decline over time or see their reputation within the market suffer,” Spencer warned in an interview with Newsweek.
Layoffs Continue To Rise Across America
According to the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS), layoffs and discharges saw little change between January (1.6 million) and February (1.7 million). That compares to more than 3.5 million workers who quit their jobs.
Unfortunately, layoffs have been rising for several months now and it’s showing no signs of stopping anytime soon. Companies are making a push to cut back on costs as they attempt to recover from high inflation rates and wage increases.
Michigan And Missouri Join The List
According to a report by the Department of Labor, Michigan and Missouri also saw a steep increase in layoffs in March. Missouri saw 1,443 layoffs and Michigan saw 1,204 layoffs filed the week ending March 16.
The automobile industry absorbed most of the blow in Missouri, while the manufacturing sector suffered the biggest hit in Michigan. Unfortunately, the state is going to see plenty more in the coming months – including from General Motors.
Resume Builder Survey Warned Us Of This
In December, a survey by Resume Builder warned of an influx of mass layoffs in the United States (and other countries around the world) in 2024. More than 900 companies responded to the survey, and their answers were concerning.
40% of the companies said they were likely to see layoffs this year, and more than 50% said they would implement a hiring freeze at some point in 2024. The anticipation of a recession and the emergence of AI were the two most common reasons why.
Could Contribute To Decreased Consumer Confidence
Spencer also talked about how the rise in layoffs could have ‘a negative ripple effect on other companies within those specific industries or the economies of different regions or states.’
“It can be incredibly hard to predict the economic impact of these types of layoffs or whether we can expect additional layoffs in the coming months, but there is the possibility that they could contribute to decreased consumer confidence and a reduction in consumer spending,” Spencer added.
What Companies Are Most Likely To Predict Layoffs?
The Resume Builder survey also determined which industries were most likely to see layoffs in 2024 – and there were several that stood out more than the rest. For example, nearly two-thirds of construction and software companies were expected to let employees go in 2024.
Four in 10 information and retail companies are expecting layoffs this year, while 38% of finance companies said layoffs were likely. Of course, tech companies, in general, have seen some of the worst of it—and it has only gotten worse over the past few months.
AI A Big Reason Why Layoffs Continue
Julia Toothacre, a resume and career strategist at Resume Builder, discussed how artificial intelligence is replacing many employees today. While AI could be coming for your job, she says you can secure your job by becoming your employer’s go-to employee.
“Because AI continues to be a reason for layoffs, take time to learn how to leverage AI in your position and which AI programs might impact your work the most,” she said. “Learn about them and become the ‘go-to’ person. You want to be the employee your manager can’t imagine going on without.”
How To Be An Irreplaceable Employee
Steven Chizen, a California-based employment attorney, expressed how important it is that employees prove their worth to their employer – arguing that there are things you can do to secure your spot on your employer’s roster.
“Workers should always ask themselves, ‘How can I make myself indispensable?’ Then, when an inevitable layoff arrives, they will be lower on the list of potentially impacted employees,” Chizen said in an interview with Newsweek.
Which States Have The Highest Number Of Jobs?
If you’re looking for a job, the West Coast is the best place to be right now. States like Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming are seeing an increase in jobs recently.
In February, there were more than 8.75 million jobs available in the United States (compared to 5.6 million departures). The job market might be difficult for many, but staying diligent is key to getting the job you want. Until then, get the job that you can – and continue to build for the future!
