The software company has been shifting to remote work, which "means we require fewer resources to support our in-office environment.”
The company has been "trimming expenses and products amid the closures of restaurants, bars, movie theaters and sports stadiums that sell its drinks."
The company's latest streamlining move will enable it to "deliver greater growth and productivity as global markets emerge from the pandemic."
The layoffs will eliminate redundant roles following the TD Ameritrade merger.
“Like the rest of the entertainment industry, we have not been immune to the significant impact of the pandemic."
“The pace of jobs recovery apparent in today’s report suggests that we will be counting the employment recovery in years, not months or quarters."
A new $28 billion relief package would avert layoffs of airline employees as the industry continues to struggle with the COVID pandemic.
The layoffs will “further align [Kohl’s] cost base in response to the business impact resulting from the COVID-19 pandemic."
The automaker is aiming to trim at least 1,400 positions through voluntary buyouts as it continues to shift to electric and autonomous vehicles.
By reducing its size to protect cash flow, a company can irrevocably harm itself.
The layoffs are part of an effort to cut costs as the company seeks to achieve profitability by mid-2021.
Weekly claims since the coronavirus shut down the economy now exceed the number of jobs added since the Great Recession.
