#economicdownturn

Our earnings would be in the toilet if it wasn’t for the mess in Iran.

Las Vegas is experiencing a tourism slump, leading to job losses in the hospitality sector. One local strip club has seen a significant increase in auditions. Many new applicants are from traditional hospitality roles and are trying dancing for the first time. The club's management notes a difference in the applicant pool compared to previous years. This trend highlights the search for alternative income streams amid economic challenges.

Las Vegas, Nevada

https://www.businessinsider.com/vegas-strip-club-laid-off-hospitality-workers-auditioning-tourism-slowdown-2026-1

The head of the Aluminium Association of Canada stated that the industry is not experiencing any layoffs. Jean Simard, the CEO, made these remarks in response to recent tariff impacts. He emphasized that the sector is not facing workforce reductions. This statement comes amid broader economic concerns. The industry appears stable regarding employment.

Montreal, Quebec

https://www.ctvnews.ca/video/2026/08/23/aluminium-ceo-on-state-of-industry-no-curtailments-no-layoffs/

The Seattle area is experiencing a significant change in its job market, moving away from its tech dominance. Healthcare and frontline services are now driving job growth, while tech and science positions have seen a decline. This restructuring is impacting the regional labor force, with some tech workers seeking opportunities in other fields. The shift is attributed to various factors, including hiring in essential services and a decrease in tech-specific roles. Experts emphasize the need for awareness regarding these widespread economic changes.

https://www.kuow.org/economy/2026-07-22/seattle-area-hiring-is-undergoing-a-drastic-change

The prominent financial institution Goldman Sachs has commenced a significant reduction in its workforce. This move is part of a broader strategy to streamline operations and adapt to evolving market conditions. The layoffs are expected to impact various departments within the company. This action reflects a challenging economic climate for the financial sector. Further details on the exact number of affected employees are anticipated.

https://theindependent.sg/goldman-sachs-begins-its-massive-round-of-layoffs/goldman-sachs-begins-its-massive-round-of-layoffs/

A significant wave of job losses is impacting the logistics industry. Over 7,000 positions have been eliminated across various companies. This trend reflects a broader economic adjustment within the sector. The full extent of these layoffs is still unfolding. Further details on the affected companies are emerging.

https://theloadstar.com/freightwaves-more-than-7000-jobs-cut-in-new-wave-of-closures/

Article discussing Karen Bass supporting a settlement and Raman wanting the case at trial has the quotes of
" merger would deepen it, costing an estimated 4,500 film and television jobs, more than 10,000 jobs region-wide, and billions of dollars in economic activity"
gives us an idea of the initial layoffs in LA jobs

Recent economic data indicates a potential downturn in the U.S. job market. Employers eliminated 23,000 positions in July, and revised figures show an additional 103,000 jobs were lost in the preceding two months. The Worker Adjustment and Retraining Notification Act, or WARN Act, mandates that larger companies provide advance notice for significant staff reductions. This federal law requires 60 days' notice for mass layoffs or plant closings affecting a substantial portion of a company's workforce. Many states offer public access to these WARN notices, allowing individuals to check for potential upcoming layoffs.

https://www.wfla.com/news/national/are-mass-layoffs-coming-most-states-let-you-check-heres-how/

Do you think AI is going to really replace humans in most jobs?
Not only at Centene but other companies. How are we supposed to find jobs with other companies if they are or will be using AI too.
Are we going to be a society of a bunch of homeless on Medicaid?
While the billionaires and millionaires pushing AI are getting richer.

They've known about it for a while. And they still set up layoffs. We're living at an age where record earnings don't provide any job security for employees. How messed up is that?

Here we go again…more net outflows for July! $8.2 billion in outflows.

Tennessee has experienced over 5,100 layoffs through the first half of the year. Shelby County alone saw nearly 1,500 of these job reductions. The article indicates a significant increase in workforce reductions across the state. Specific companies and sectors contributing to this figure are not detailed in the provided text. This trend suggests a challenging economic environment for employment in the region.

Memphis, Tennessee

https://www.bizjournals.com/memphis/news/2026/08/07/tennessee-layoffs-metro-comparison-june-2026.html

How does it make sense that private companies receive billions in American taxpayer dollars to run government funded programs (like Medicare and Medicaid), but are then allowed to lay off American workers and offshore those exact jobs overseas?

1. How does this build our economy?
   When public funds pay for these contracts, shouldn't a primary goal be keeping those tax dollars circulating within the U.S. economy? Offshoring eliminates middle-class administrative jobs, taking wage tax revenues and local spending power completely out of our communities.

2. How does this benefit the average citizen?
   The standard corporate argument is "cost savings," but rarely do those savings translate into lower healthcare costs or better services for the public. Instead, taxpayers fund the contracts, domestic workers lose their livelihoods, and profits go to corporate margins. (Sarah)

3. Why are foreign entities allowed to manage our sensitive data?
   This is the most concerning part. Millions of members' Social Security numbers, home addresses, financial details, and medical/disability records are being accessed, processed, and stored in databases overseas. Even with Business Associate Agreements and basic CMS/HIPAA compliance, sending sensitive American data outside U.S. legal jurisdiction creates obvious security and privacy risks? Were we not just trying to ban TikTok for data reasons but sending our most private information is okay to send overseas?

Most of these are rhetorical as I know the main answer is that this is for millionaires/billionaires to gain more money and that they don’t actually care about the American people.

And Sarah if you’re wanting to reinvest into the company, why don’t you use some of your massive salary?

Workers at the General Motors Fairfax Assembly and Stamping Plant are anticipating the end of nearly two years of layoffs. The plant has been operating on a single shift since September 2025, impacting approximately 750 employees. A shift in focus from electric vehicles to internal combustion engine vehicles, particularly the Equinox, is driving this change. Retooling is scheduled to begin in early 2027, with the second shift expected to resume by mid-2027. This transition is projected to bring the plant back to full employment and boost the local economy.

Kansas City, Kansas

https://www.kshb.com/news/local-news/kansas/wyandotte-county/gm-fairfax-plant-workers-see-light-at-end-of-tunnel-after-nearly-2-years-of-layoffs

as this bubble pops you can expect dell to lose all of its market share and be a 8 billion dollar company

It's gonna happen sooner or later. The closer to CH 11 they do it, the worse it looks.

In-depth piece (15-16 minute read) on IBM's Q2 debacle and the company's future viability.

https://www.thestreet.com/investing/ibms-25-crash-reveals-ais-hidden-corporate-casualty

Two ca--abis manufacturers in Santa Rosa are implementing substantial layoffs this fall, impacting over 100 positions. CraftForce Services Inc., part of CannaCraft, will lay off approximately 60 employees, primarily production technicians. NorCal Ca--abis Company, through Queen City Staffing, will permanently lay off about 49 workers in packaging and trimming roles. An executive cited ongoing financial difficulties within the statewide ca--abis industry as the reason for these workforce reductions. These cuts reflect broader economic challenges and declining sales in the legal ca--abis market.

Santa Rosa, California

https://www.pressdemocrat.com/2026/07/23/two-santa-rosa-ca--abis-companies-announce-mass-layoffs-amid-industry-woes/

Southwest Airlines reported second-quarter earnings that surpassed expectations. However, the company is experiencing significant pressure from increased fuel costs. This financial strain is leading to discussions about potential workforce reductions. An announcement regarding layoffs is anticipated soon. The airline is navigating a challenging economic environment.

Dallas, Texas

https://www.cbsnews.com/texas/video/southwest-may-announce-layoffs-thursday-after-earnings-report-spike-in-fuel-cost/

U.S. unemployment aid applications fell to 187,000 last week, the lowest since 1969. This indicates historically low layoff numbers despite global economic uncertainty. Analysts expected higher filings, but the Labor Department reported a significant decrease. Weekly jobless claims serve as a key indicator of the job market's health. The strong labor market persists despite rising oil prices and geopolitical tensions.

Washington, D.C.

https://www.kiro7.com/news/business/us-filings/KYEZ363Q5Q64ZFANTOCWDC6SPA/?outputType=amp

General Motors is pausing construction on its $3.5 billion electric vehicle battery plant in Indiana. This decision is a strategic response to shifting consumer demand for EVs and evolving market conditions. The company aims to align its manufacturing capacity with current sales forecasts and avoid overproduction. This pause will impact expected job creation and local economic development in the short term. GM will reassess its production strategy and battery technology integration during this period.

New Carlisle, Indiana

https://www.msn.com/en-us/news/insight/gm-pauses-3-5b-indiana-ev-battery-plant-amid-demand-shift/gm-GMAEC4E1F5?gemSnapshotKey=GMAEC4E1F5-snapshot-0

I'm not expecting to match my current salary exactly, but every offer I get is so far below what I make now that I have to immediately dismiss it. The job market is simply atrocious right now.

Manufacturing jobs in Chautauqua County experienced significant reductions during the second quarter. Over 300 positions were eliminated across the sector. Despite these layoffs, manufacturing remains the region's strongest industry. Economic development leaders are working to address the situation. Further details on specific companies are not available in the provided text.

Chautauqua County, NY

https://www.bizjournals.com/buffalo/news/2026/07/22/chautauqua-county-mark-geise-manufacturing.html

A significant number of employees at a major steel plant are being laid off. This reduction in workforce is attributed to a challenging economic climate impacting the industry. The company cited decreased demand and increased operational costs as primary reasons for the decision. Affected workers will receive support packages as they transition. This move signals ongoing difficulties within the steel manufacturing sector.

Whiting, Indiana

https://www.insideindianabusiness.com/articles/bp-union-dispute-continues-as-local-officials-call-for-end-to-lockout-at-whiting-refinery

US unemployment claims saw a significant decrease last week, falling to 208,000. This drop was more substantial than economists had predicted. The four-week average of claims also decreased, indicating continued labor market resilience. Continuing claims also eased, suggesting fewer people are remaining unemployed long-term. These figures point to employers holding onto their staff despite economic uncertainties.

Washington, D.C.

https://cryptobriefing.com/us-jobless-claims-decline-208000/

Job market tough enough, most people taking vacations over summer so hiring is slow and then we heading into fall and EOY holidays where traditionally no hiring due to budget cycles …. Jeeez

Video game workers in Quebec have organized protests against significant layoffs. These job reductions are impacting the province's once-booming gaming sector. The industry is currently facing challenges with declining sales and profitability. Bethesda, an Xbox-owned company, is among those implementing these workforce reductions. This situation highlights broader economic pressures within the video game industry.

Quebec, Canada

https://www.cbc.ca/player/play/video/9.7272014

Harris County departments are preparing for significant budget reductions as a deficit of up to $287 million looms. This marks the fifth consecutive year the county has faced a budget shortfall. The primary driver of the deficit is increased law enforcement salaries, which were implemented to match city pay scales. With limited options remaining, the county is now considering employee layoffs and position eliminations. Rising inflation costs for services like fleet management and technical support have further strained the budget.

Houston, Texas

https://texasscorecard.com/local/harris-county-departments-brace-for-cuts-amid-nine-figure-budget-deficit/

I still think this is way too high though. With the current debt, and forthcoming AI apocalypse, this stock is worth $1 !!!!

A new survey reveals that a significant majority of U.S. workers support the creation of an AI wealth fund. This sentiment arises as tech layoffs continue to increase, causing widespread job security concerns. The proposed fund would mandate AI firms to transfer a substantial portion of their stock to public ownership. Proponents believe this will ensure the benefits of AI are shared broadly. This initiative aims to address public frustration over corporate profits versus worker displacement.

United States

https://www.cnbc.com/2026/07/12/majority-of-us-workers-support-ai-fund-amid-tech-layoffs-survey.html

Asha Sharma, the new CEO of Xbox, has been appointed to a Federal Reserve task force focused on jobs and productivity. This group will examine the economic effects of new technologies, including artificial intelligence. Sharma recently announced significant layoffs at Xbox. The appointment has drawn criticism due to the timing and the inclusion of other controversial figures. The task force aims to inform the Federal Reserve's policy decisions.

Washington, D.C.

https://www.engadget.com/2211983/days-after-laying-off-3-200-xbox-ceo-asha-sharma-tapped-to-advise-the-federal-reserve-on-jobs/

Multiple healthcare organizations have recently announced substantial workforce reductions. These layoffs span various roles, from administrative to clinical positions, impacting numerous states. The primary drivers cited for these cuts include financial pressures, operational restructuring, and shifts in healthcare delivery models. Many affected employees are being offered transition support and severance packages. These widespread layoffs highlight the challenging economic climate facing the healthcare industry.

California

https://www.fiercehealthcare.com/finance/fierce-healthcare-layoff-tracker-2026-job-cuts-eliminations-health-systems-hospitals

Dignity Health | N/A

Shell’s Wael Sawan has been briefed by the security services about looming security concerns in the UK. Shell has enhanced its leadership get out fast procedures. Top Shell economist also forecast significant economic challenges which would negatively escalate the UKs attractiveness.

Estimate when Shell changes domicile to the USA or even Dubai.

HKS has announced staff reductions. Dozens of employees are affected by the layoffs. The firm cites a real estate industry slowdown. Tight lending standards are impacting new projects. Developers face challenges moving forward with construction.

Dallas, Texas

https://www.bizjournals.com/dallas/news/2026/07/02/hks-layoffs-dan-noble.html

Barrette Outdoor Living Inc. laid off 63 workers at its Salisbury manufacturing site. The company cited revenue decline and economic downturn as reasons for the job cuts. Employees and the state received no prior notice of the layoffs. A WARN report was filed on July 1, effective immediately. Barrette Outdoor Living was acquired by Oldcastle APG in 2021.

Salisbury, North Carolina

https://amp.charlotteobserver.com/news/business/article316361814.html

Paychex President and CEO John Gibson discussed the current labor market. He shared his insights with 'Mad Money' host Jim Cramer. Gibson stated he currently sees no signs of widespread layoffs. He also indicated no signs of an impending recession. His comments reflect a positive outlook on the economic situation.

https://www.cnbc.com/video/2026/06/30/i-see-no-signs-of-layoffs-or-recession-says-paychex-ceo.html

Job reductions in the Bay Area tech sector are increasing in 2026. Over 10,000 tech positions have been eliminated this year. The current total greatly exceeds last year's figures. Economists connect these reductions to a wider industry change. Companies are prioritizing investments in artificial intelligence.

https://www.kalw.org/bay-area-news/2026-06-29/bay-area-tech-layoffs-top-10-000-this-year

The Bloomington Economic Development Corp. hosted a regional economy event. Phil Powell presented a report on Monroe County's economic status. He noted the economy is holding steady but faces challenges. Average hourly earnings declined, while some sectors saw job growth. Powell urged leaders to develop a stronger regional economic strategy.

Bloomington, Indiana

https://www.heraldtimesonline.com/story/business/columns/2026/06/25/stronger-regional-strategy-needed-for-bloomingtons-economic-success/90679476007/

Rex Tillerson recently visited LT with a very pessimistic outlook of market and economic prospects. He highlighted that factors leading to a black swan are highly probable. As we all know this will be a perfect opportunity for XOM to grow inorganically and further cement its position as a market leader.
What type of event do you predict?
Last time we were given the COVID crisis this time maybe consequential…nonsense or fortuitous?