Verizon and Other Corporations Announce Major Job Cuts in New Jersey

— wpgtalkradio.com
Key Takeaway
Verizon has laid off 1,319 employees in New Jersey as part of a larger trend of job cuts affecting major companies in the state. Other companies like Merck, Target, JP Morgan Chase, and Walmart have also announced significant layoffs, contributing to a troubling job market in New Jersey.
Another big New Jersey employer, Merck, announced 204 layoffs. Some of those cuts, largely out of the pharmaceutical giant's Rahway complex, will be effective in March and May. As for new mass layoffs, Target, JP Morgan Chase and Walmart have announced several hundred more New Jersey job cuts, ...
Original reporting — we curate and summarize for context
Related Stories
Block Announces Layoff of 4,000 Workers, Citing AI as a Key Factor
In a letter to the company, CEO Jack Dorsey said AI tools are making fundamental changes to “what it means to build and run a company.” But tech experts say pandemic overhiring and overly-ambitious promises of AI have had a role in tech layoffs.
Block Lays Off 4,000 Employees, Citing AI Efficiency Gains
BANGKOK -- Shares in the financial technology company Block soared more than 20% in premarket trading Friday after its CEO announced it was laying off more than 4,000 of its 10,000 plus employees, reconfiguring to capitalize on its use of artificial intelligence.
Block to Cut Workforce by Nearly 50% Due to AI Advances, Says Jack Dorsey
Jack Dorsey reveals how AI is driving job losses at Block, reshaping the future of work and sparking controversy in the tech industry. Find out more.