Article Image

IPFS News Link • Employment & Jobs

A Wall Street Bank Is Warning That Millions Of Americans Will Lose Their Jobs In 2023

• by Michael Snyd

Even if someone got fired unexpectedly, it was just so easy to find new employment because there simply was not enough able-bodied workers out there.  But now everything is changing.  Some of the largest corporations in the entire country are starting to conduct mass layoffs as the U.S. economy steadily slows down.  Unfortunately, it appears that a lot more pain is ahead.  In fact, as you will see below, one of Wall Street's biggest banks is ominously warning that millions of American workers will lose their jobs next year.

Stories about mass layoffs are hitting the news at a fast and furious pace these days.  For example, we just learned that a factory that makes Jeep Cherokees in northern Illinois will be laying off 1,350 workers

The company, which employs about 1,350 workers at the plant in Belvidere, Illinois, said the action will result in indefinite layoffs and it may not resume operations as it considers other options.

Stellantis said the industry 'has been adversely affected by a multitude of factors like the ongoing COVID-19 pandemic and the global microchip shortage, but the most impactful challenge is the increasing cost related to the electrification of the automotive market.'