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Job Cuts Coming at More Than 170 US Companies in June
- More than 170 U.S. companies are expected to announce layoffs in June based on WARN Act notices.
- Companies like JPMorgan Chase, Morgan Stanley, and Wells Fargo are planning job cuts.
- Walmart, Coca-Cola, and eBay are also included in the list of firms planning layoffs.
- Recent layoffs by Microsoft involve a 3% reduction in its workforce.
- Around 6% of major U.S. companies have replaced foreign suppliers with domestic ones due to tariffs.
- There is ongoing uncertainty due to tariff-related impacts on businesses.
- American imports dropped significantly in April due to tariffs.
- The majority of CFOs from goods and retail companies report increased uncertainty and planning challenges due to tariffs.
- Many companies are considering reducing operational costs and implementing price hikes to offset tariff-related expenses.
- Companies also anticipate product shortages this year.
- Tariffs have had a notable impact on the U.S. economy.
- Inconsistencies in tariff actions by the administration have further added to the uncertainties in the business environment.
- American firms are grappling with operational inefficiencies and planning for potential longer-term impacts.
- Companies are adopting strategies to mitigate tariff-related challenges.
- There is a significant level of uncertainty and challenges faced by the U.S. business sector.
- Many firms are preparing for potential tariff impacts on their businesses.
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