While the US economy recovers from the shock of the coronavirus pandemic, experts have warned that not everyone will have job security in 2025.
The warning comes amid spread of Human Metapneumovirus (HMPV), a respiratory infection with signs and symptoms akin to Covid-19, in China, raising global health worries, with countries actively observing the situation.
Respiratory infections in China correspond to seasonal fluctuations produced by viruses like influenza, RSV, and HMPV.
HMPV is responsible for upper and lower respiratory infections, according to the US Centers for Disease Control. It affects people of all ages, but young kids, elderly people, and those with impaired immune systems are particularly vulnerable.
Amazon, Boeing and Spirit Airlines announce job layoffs
Workers in a variety of industries received more blows in the closing months of 2024, with several layoff declarations for 2025. Major firms like Amazon, Boeing, and budget airline Spirit Airlines have revealed layoffs that would affect staff in 2025. While the actual number of job layoffs in the United States in 2024 is unknown, it is expected that it will be lower than in 2023, when layoffs increased by 98% in 2022, owing to improved economic conditions.
Speaking to Newsweek, CEO of BGG Enterprises Stephanie Alston said, “The trajectory of layoffs in 2025 will depend on several factors, including macroeconomic conditions, consumer demand, and how companies adapt to an evolving business landscape.”
{{/usCountry}}Speaking to Newsweek, CEO of BGG Enterprises Stephanie Alston said, “The trajectory of layoffs in 2025 will depend on several factors, including macroeconomic conditions, consumer demand, and how companies adapt to an evolving business landscape.”
{{/usCountry}}While 2024 experienced major reduction in industries such as technology, banking, and retail, as per Alston, the prospect for 2025 is dependent on whether corporations stabilize following restructuring or continue to cut jobs in reaction to market uncertainties.
Job cuts increased around the end of 2024. A survey by employment transition and consultation firm Challenger, Gray & Christmas Inc. revealed that companies in the United States declared 57,727 reductions in November 2024, up 3.8 percent from 55,597 layoffs made in October.
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Which sector witnessed most layoffs in 2024
According to True Up, the technology sector experienced the most layoffs in 2024 and 429,608 people were affected.
Three out of every ten organisations replaced workers with AI in 2024, and 38 percent of the firms utilising AI in 2025 will do the same.
Major technology companies such as Google and Meta started restructuring their employees in 2024 to concentrate on AI initiatives, indicating a trend that could continue in 2025.
Can the Trump administration reduce layoffs?
Experts have told Newsweek that the upcoming Trump administration may reduce the number of job cuts in 2025.
“A potential shift in administration following the 2024 elections could also influence the labor market,” Alston said. Policies governing taxation, regulation, and commercial incentives will be critical in defining corporate strategies, he added.