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Economy
A wave of layoffs is sweeping the US. Here are the major companies that have announced cuts so far, from Twitter to Peloton.
2022-11-07
[INSIDER] Twitter is the latest high-profile company to get hit with layoffs this year after its new owner, Elon Musk, ordered a 50% headcount reduction.

Major American businesses have picked up the pace of firing in 2022.

Peloton has laid off thousands of employees this year. Real estate firm Re/Max slashed 17% of its workforce. Even traditionally layoff-resistant companies like Netflix have made cuts, and now companies that saw a pandemic-era boom, like Shopify, are cutting hundreds of jobs.

The reason, broadly, is twofold: business growth is slowing, while labor costs are increasing. The combination is causing American companies across a variety of industries to slash headcount.

Here are some of the most notable examples so far:
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