...in just within the last 48 hours, we have these large companies announcing layoffs as reported by MacroEdge.
...unemployment rate is a lag data, large job losses are already happening, and if it can also happen in the healthcare sector, that is not a good sign.
Nike has terminated around 1,000 employees at its world headquarters per a regulatory filing with the state employment office.
Optum laid off 900+ employees in a substantial round of layoffs, total number may number in the thousands across United Health Group
United Healthcare Group reportedly laid off 3,500+ across its organizations, per employees who were impacted
AT&T has reportedly begun sending out layoff notices to employees
Lululemon is laying off over 100 employees in Washington State
A Boeing representative has confirmed that the company will be laying off hundreds of employees
FedEx announces the closure of four Southwest Florida shipping hubs resulting in hundreds of layoffs in a notice to the state
Ancestry .com is eliminating 6% of its workforce You mean people won't pay $89 a month to find out who made their great-grandmother drinks in New York 98 years ago?
...and commercial real estate (CRE) default is rising!
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There were 625 tracked commercial real estate foreclosures in March, up 6% from February and 117% from the same time last year, $929bn still set to mature this year alone
The developer of the Four Seasons Hotel and Private Residences at the foot of Canal Street in New Orleans is facing pressing financial struggles and has defaulted on the loan agreement with the mortgage lender. The lender has told the developer to seek new funding or sell.
A $300M CMBS Loan Backed by the Santa Monica Place Mall is Facing ‘Imminent Default’
A $254.9 million Rhode Island retail CMBS loan was transferred for imminent maturity default, per Trepp.
...I try to bring you news and insights including macro views that is Ahead of the Curve. They are not ones you may want to hear BUT need to hear.
...and the sources I choose are not from extreme opinionated views.
