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Factbox-Corporate America braces for downturn with job cuts

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Reuters

(Reuters) – Corporate America is making deep cuts to its employee base as part of its restructuring efforts to navigate a potential downturn in the economy from the Federal Reserve’s war on inflation. Job cuts announced by U.S.-based employers jumped 13% to 33,843 in October, the highest since February 2021, a report said. Here are some of the major job cuts announced in recent weeks: Meta Platforms Inc: The Facebook-parent said it would cut 13% of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as it grapples with a weak advertising market and mounti…

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