Nearly 100 Companies Announce Layoffs In March, According To Reports

Some of the companies on the list include Intel, FedEx, Neiman Marcus and John Deere. Macy’s, which recently announced the closings of 66 stores (part of a three-year goal to close 150 retail locations) will be laying off hundreds of employees. Similarly, retail drug store Walgreen’s will be parting ways with employees in California and other states. Rising interest rates, which increase the cost of capital, are blamed by some experts. The ever-present drive towards profitability and shareholder value is leading even highly-profitable companies, like London-based BP, to announce layoffs. (Notice that the company’s plans to layoff nearly 5,000 employees may not make the American list, as the reporting requirements of the U.K. are different)