FedEx. Yahoo! McKinsey & Company. 3M. Salesforce. BNY Mellon. Sounds like the makings of a pretty good investment portfolio, a nice blend of traditional firms and disruptive technology. Yet all of these companies have been shedding jobs in 2022 and 2023.
At least 3,000 Morgan Stanley staff members are finding themselves “divested” from their former employer. Dropbox is dropping 16% of its personnel. The Gap? Two thousand ex-employees now confront a gap in their resumes. Jenny Craig is on a crash diet to trim its payroll and Lyft is kicking about a quarter of its workplace to the curb.