8/1/2025, 6:34:00 PM | m.economictimes.com | news
As the July jobs report paints a grim picture, 114 companies plan layoffs in August - is yours on the list
A report indicates that 114 US companies plan to lay off employees in August 2025, amid a slowing job market and rising unemployment. The July jobs report showed only 73,000 job growth, with the unemployment rate rising to 4.2%. Major firms including Microsoft, Georgia-Pacific, Wells Fargo, CVS Health, Target, Nordstrom, Amazon Fresh, Walmart, and McDonald's are expected to cut hundreds of jobs across sectors such as tech, retail, healthcare, and logistics. Experts suggest that rising costs, global tariffs, and shifting business strategies are driving these layoffs, with some companies reducing staff to improve profitability. The number of companies filing for layoffs increased from 95 in July to 114 in August, according to WARNTracker.com data.