James Kaufman, World News Report today.
Ladies and gentlemen, Americans are losing jobs at record numbers.
No one will believe these numbers.
Stick around, I'm going to blow your mind.
Amazon laid off 14,000 people this week, as you may know.
At first they blamed AI, but now they're trying to step that back.
It's really a combination of AI, robotics,
and a consumer that's completely broke.
Although that's not what they said.
Amazon just posted its third quarter of earnings
and it turns out it was a phenomenal quarter
for the e-commerce giant
despite recent layoffs of over 14,000 positions.
The company raked in $180.2 billion in sales
in three months ending September 30th
up 13% from the same period last year.
Its cloud business.
UPS reported its largest year-over-year growth since 2022,
climbing 20% to $33 billion.
The company's stock even popped 13%
in an after-hours trading following the report.
A big reason for all that is all the layoffs.
Meanwhile, UPS said that it plans on laying off 48,000
full-time positions in quarter number three of this year.
Let's keep going. We could do this for hours.
I want to show you all the totals as far as corporate jobs.
And I'm not talking about mom and pop shops.
Just reported corporate jobs and government jobs.
It's going to blow your mind.
This week, Target cut 1,800 full-time positions.
Paramount Skydance cut another 1,000 positions.
We can go on and on.
Meta, as in Facebook, has recently made huge layoffs to its team.
The electric car company Rivian has
also slashed tens of thousands of positions.
Net-net, America is losing jobs faster than any time in its history
because of the above-mentioned changes.
Again, that aren't going to fix themselves.
AI, robotics, and a completely dead consumer.
Even though AI and robotics are actually making
the production of everything much easier
and bringing down costs, there's no one around to buy the merchandise.
Or soon there will be no one around to buy the merchandise.
Let's take a look at two lists that will blow your mind.
All right, these are just tech companies, okay?
Just tech companies.
You can look here, Intel.
Intel, every single time they've made a layoff,
they have to report it, so it's very easy to track.
Intel cut off 20% of its workforce,
another 15% of its workforce,
22,000 positions, 15,000 positions.
Tesla, 14,000 positions,
10% of its workforce.
Amazon.
14,000 positions.
We just heard about that one, didn't we?
Google, 12,000 positions.
Meta, 11,000 positions.
Amazon, 10,000.
Microsoft, 10,000.
Look, they can be listed several times.
Here's another 10,000 for Facebook, right?
There's 11,000 up here.
That's 21,000 right there.
Most of these are listed several times.
As you can see, here's Amazon again with another 9,000.
Remember the 14,000 they just mentioned today.
Another, well, 10,000 for Facebook.
Another 9,000 for Amazon.
9,000 for Microsoft.
These are all separate layoffs with dates.
Here's 8,500 Ericsson.
These are just tech jobs.
Salesforce.com, 8,000.
Amazon.
Well, this list happens to go on and on and on and on and on.
And I do have a total.
We won't be able to go over all of it.
You can see every company's laying off.
No one's hiring.
Net, net.
It's a bloodbath out there.
Let's get down and get some net numbers, if we can.
800,000 full-time tech jobs have
been lost.
Due to what?
AI, robotics, and a dead consumer.
Let's look at government jobs, shall we?
Getting down and dirty with government jobs.
Well, they're falling again like flies.
As you can see, a lot of these are DOGE layoffs.
Department of Energy, Department of Education, Department of Defense,
Department of Health and Human Services, Department
of Homeland Security, Department of Housing and Urban Development,
Department of Interior, thousands and thousands of jobs.
Guess how many federal workers,
this is not state government, this is not city government,
how many federal workers have been laid off?
About 346,000.
Full-time positions have been lost.
1,000.
thousand.
Unbelievable.
Now, again, that was only tech jobs and federal jobs.
There were well over 1.2 million jobs
that have been lost recently.
These are the jobs that have a living wage associated with them,
perhaps a retirement or an IRA or something.
Now, this is the list that won't stop giving.
You can add companies like Starbucks and Nike.
What else do we have here?
We've been over most of these.
Amazon.
Here's General Motors here.
Here's Target.
UPS, Nestle, Amazon, Bosch, Dell,
Accenture, Nissan, Intel, Microsoft.
As we keep going, look.
It just keeps going and going.
Sika.
1,400 for Nestle, 16,000 jobs.
Heineken, Ford Secure Metals Group,
6,000 jobs at Telefonica.
Accenture, 11,000 jobs.
It just keeps going and going.
Spirit Airlines, I understand that.
They're net-net or no hirings.
Even Ford, even the oil companies.
We're laying people off, okay?
HP, all the big oil companies,
Sky Group, it's unbelievable.
And I could, if y'all knew where I was on this,
there's ConocoPhillips, 3,000 jobs, Oil & Gas, Salesforce, Kroger.
I could do this as quick as I could do it for probably the next hour.
That's how long this list goes.
I'm watching the side of it in disbelief.
This is nothing that we've ever seen before.
Y'all watching?
I can keep going.
I'm only to, well, it's in no alphabetical order.
Just going and going and going and going and gone.
I see Airbus.
I see Nokia.
I see Boeing.
I see Visa.
I see CVS.
I see every company that I know of.
It's getting rid of employees.
This is not a growing economy.
Now, all these people are the consumers who buy stuff.
That's why UPS is going to be really hit hard.
Places like Amazon are going to start to really get hit hard.
They think that all these layoffs are fabulous.
They're going to make their numbers look good
for about three quarters of a year.
And then no one's going to have a penny to buy anything
because I can keep doing this as long as I want to.
This is the scariest thing I've really ever been associated with.
Scariest story I've done.
What do y'all think, guys?
Again, I can keep going.
God bless you guys.
This is one for the record books.
I have nothing to say except for wow.
Let me know what you think in the comments below.
Where's America headed with this many layoffs in 2025?
You know where it's headed.
There are no jobs whatsoever that are going
to pay a living wage with AI robotics and
a dead consumer, period.
God bless.
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Always remember, anything's possible in Bizarro World.