Layoff Trends for April 2021

Intellizence publishes monthly trends about major layoffs in companies every month. The following are some of the mass layoff announcements by leading companies as recorded in the Intellizence Layoff Dataset for the month of April 2021. 

Major Layoffs/Furloughs Announced in April 2021

1. BBVA (3800)
   Spain’s second-largest bank BBVA is planning to shed 3,800 jobs, affecting 16 percent of its staff. The bank will shut down 530 of its branches as the banking sector struggles to cope with record-low interest rates and an economic downturn sparked by the coronavirus pandemic, along with a surge in popularity of online banking services.
2. Commerzbank (1700)
   Commerzbank is to cut 1700 jobs in Germany in a voluntary redundancy programme to be completed by the end of the year. The cuts mark the start of a three-year cost reduction programme announced in January that will lead to the loss of 10,000 jobs and the closure of 340 branches by 2024.
3. General Motors (1419)
   General Motors India has laid off 1,419 workmen by invoking section 25 of the Industrial Dispute Act. The Indian subsidiary of the US carmaker has terminated the services of all its workmen at its Talegaon plant, Pune. The Employees Union is likely to challenge this move legally in court.
4. ASDA (1200)
   The supermarket giant Asda, is planning to axe up to 1,200 staff in a shake-up of its in-store bakeries after a fall in demand for traditional loaves of bread. ASDA is planning on scrapping its current method of “scratch” baking at 341 UK branches.
5. Toyotetsu Canada (1000)
   Toyotetsu Canada, the automobile parts manufacturing company, has shut down its auto parts plant in Simcoe due to a COVID-19 outbreak, putting more than 1,000 people off work. Toyotetsu officials have decided to suspend operations at the sprawling 530,000-square-foot facility.
6. Babcock International (1000)
   Defence and aerospace giant Babcock International Group Plc is to layoff 1,000 jobs as it struggles with a £30million annual dip in profits.  
7. Nestle
   The world’s largest food company Nestle, plans to cut almost 600 jobs and close a confectionery factory in Newcastle. The company wants to close its site in Fawdon by the end of 2023 and focus production on factories in York and Halifax.
8. Ionis Pharmaceuticals (70% of staff)
   Ionis Pharmaceuticals will lay off nearly 70% of the staff at Akcea Therapeutics. The job cuts, disclosed in a regulatory filing, are part of a reorganization plan Ionis is carrying out alongside an expanded commercialization deal with Swedish firm Sobi. 

US Monthly Unemployment Trend – April 2021

According to the US Govt. Labor statistics, total nonfarm payroll employment rose by 266,000 in April, and the unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor Statistics monthly report. 

• The largest gains were in leisure and hospitality, local government education, financial activities, and other services.
• Health care, retail and construction changed little in April. 
• There were employment declines in manufacturing, temporary help services, and in couriers and messengers. 

Disclaimer: 

The data is based on layoff announcements found in the public domain like popular news sources and WARN Filings. WARN filings are considered only for the US states that publish the data.

Source: Intellizence Layoff Dataset