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 May 2021.
Major Layoffs/Furloughs Announced in May 2021
Office Depot (13,100)
Office Depot, plans to restructure and realign its operational focus to support ‘business-to-business’ solutions and IT services business units and improve costs. This includes closing stores and laying off about 13,100 employees by 2023. The company expects to save $860 million by the end of 2023 and sustain charges of about $543 million.
Provident Financial (2,100)
Credit company Provident Financial is withdrawing from doorstep lending after 140 years, putting over 2,100 jobs at risk. Provident will focus on the group’s profitable credit card and unsecured personal loan division Vanquis Bank, and its car finance business Moneybarn.
Norwegian Air Shuttle (1,911)
Norwegian Air Shuttle plans to lay off 1,191 workers in Spain, affecting 85 percent of its workforce in the country. It is also closing its bases in Barcelona, Gran Canaria, and Tenerife, following the closure of its bases in Madrid and Mallorca prior to the COVID-19 pandemic.
ABM Industries (960)
A New York-based professional services company has announced local layoffs after a change to its local contract. According to the WARN notice, ABM would lay off 960 employees by July 1 after the end of a contract with Duval County Public Schools.
Lufthansa unit Swiss International (780)
Lufthansa subsidiary Swiss is cutting its fleet by 15% and its workforce by up to 780 more people, as it responds to the collapse in passenger numbers caused by the coronavirus pandemic. Under the restructuring, Swiss will reduce its fleet of 90 planes which it operates under its own name, and the Helvetic brand by 15%.
Ascension’s technology (651)
Ascension Technologies, one of the nation’s largest healthcare information technology services companies, plans to lay off an estimated 651 remote workers. The company plans to outsource the tech support for EHR and revenue cycle management responsibilities to third-party service providers. The affected employees can apply for other positions within the company or with the new vendor.
Genpact will be permanently laying off approximately 489 workers at its Deerwood Park location on Jacksonville’s Southside. The company is closing its Jacksonville operation “due to material business changes to one of the company’s clients.
US Monthly Unemployment Trend – May 2021
According to the US Govt. Labor statistics, total nonfarm payroll employment rose by 559,000 in May, and the unemployment rate declined by 0.3 percentage point to 5.8 percent, the U.S. Bureau of Labor Statistics monthly report. The number of unemployed persons fell by 496,000 to 9.3 million.
- Notable job gains were in leisure and hospitality, in public and private education, and in health care and social assistance.
- Employment also rose in amusements, gambling, and recreation (+58,000) and in accommodation (+35,000).
- Employment in retail trade changed little in May (-6,000).
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