Several major US corporations announced large-scale layoff plans this week, with a combined total of over 52,000 jobs set to be eliminated.
David Mericle, Chief US Economist at Goldman Sachs, indicated that companies are increasingly discussing layoffs and appear to be hoping to leverage artificial intelligence to reduce labor costs.
Although this round of layoffs is concentrated in a few large companies, it has raised concerns among some Federal Reserve policymakers and private economists. The once-hot job market is showing signs of weakness.
Data shows that the US added only 50,000 jobs in December, while the median duration of unemployment rose to 11.4 weeks, the longest since 2021.
Companies are explicitly pointing to cost reduction and efficiency gains. Companies such as Amazon.com, UPS, Dow Chemical, Nike, and Home Depot have disclosed their layoff plans. Most stated that cutting positions is intended to make their organizations leaner and more efficient.
On Tuesday, UPS CFO Brian Dykes told analysts that the logistics company would offer buyouts to drivers and cut up to 30,000 jobs this year to "help us right-size," as the volume of packages it delivers for Amazon.com has decreased.
Amazon.com announced the next day its second round of layoffs in three months, planning to cut 16,000 employees. Senior Vice President Beth Galetti wrote in an email to staff that the move aims to "eliminate bureaucracy."
On Thursday, Dow Chemical CEO Jim Fitterling stated that the chemical company would advance a "comprehensive and thorough simplification of our operating model," which will involve cutting 4,500 jobs.
The job market has stalled after its post-pandemic expansion. Many companies expanded rapidly after the pandemic began in 2020, a time when online shopping boomed and massive stimulus programs led to a significant hiring rebound following the turmoil of the COVID-19 crisis peak.
However, over the past year, the labor market has stagnated, with uncertainty surrounding trade and artificial intelligence making employers hesitant to either hire or fire extensively. Unemployment and jobless claims have risen, but both remain below pre-pandemic levels.
Federal Reserve officials said on Wednesday that the unemployment rate fell to 4.4% in January from 4.5% in November, showing "some signs of stabilization." Nonetheless, the hiring slowdown is making the experience of unemployment more difficult, and signals of weakness in the job market are accumulating.
The US economy added only 50,000 jobs in December. As hiring slowed, the median duration of unemployment extended to 11.4 weeks last month, the longest since 2021.
Signals of a cooling job market are emerging. Indeed economist Aidala pointed out that while the overall layoff numbers are not abnormal, "unemployment (or just the prospect of it) is a more difficult experience for workers than the aggregate indicators alone suggest." Finding re-employment becomes more challenging in an environment of slowing hiring.
The labor market has been in a holding pattern over the past year due to uncertainties around trade and AI, with employers reluctant to engage in either aggressive hiring or large-scale layoffs.
But this week's密集裁员公告表明，随着AI投资压力加大，企业正在打破这种平衡，转向主动削减成本。