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The Layoff Frenzy
Spiggle Law
February 02, 2024
"The only thing that is constant is change" - Heraclitus. Nowhere is this truer than in today's job market.
Take a step back and picture this: A world where buying pink cups gets you fired!
Welcome to the latest issue of The Career Rocket. This week, we're serving up the latest scoop on layoffs, job market trends, and how your social media can affect your job. Dive into our newest insights below now!
P.S. Don’t miss your opportunity to win some FREE swag from us. All the details you need are below. 👇 (Hint: Start sharing this newsletter, and you will win free merchandise)
Catch the Latest in Job Market Trends with 'Job Minute Market 📊
Software developers are in hot demand, leading the pack in job openings 👩💻
Over the next decade, we expect an average of 3.3 million openings each year in jobs requiring a bachelor's degree. With software developer roles growing by 41,000 per year, they're setting the pace.
High school graduates, your job outlook is bright 🧑🎓
Jobs requiring a high school degree are multiplying like rabbits - with a whopping 7.1 million per year over the last decade. The next big thing? Home health and personal care aides! Thanks to our growing, aging population, these jobs will be raining down over half a million opportunities every year.
Some college under your belt? Medical assistance is your game! 🩺💡
For those with a bit of college or an associate's degree, medical assistant roles are on the rise. With about 10,000 new jobs annually, the healthcare sector is calling your name.
Union membership? It's been a rollercoaster. 🎢👷♀️
In 2023, the percentage of wage and salary workers who were members of unions remained at 10% since 2022, but double the rate of 1983. And guess what? Full-time union members are raking in a median weekly earning of $1,263, compared to nonunion workers who make $1,090.
So, ready to jump into the job market? It's a wild ride, but we've got you covered! 💪🚀
Staying tuned to the job scene is like having a secret weapon for your career game plan! This week, we've got the lowdown on the latest buzz, especially regarding layoffs. Take a peek at the top 3 updates in this week's newsletter – because your career journey deserves some insider insights! 🚀
1. Target Fired Employees for Violating Its ‘15-Minute Rule’ 🎯
Several Target employees were reportedly fired for ‘exploiting’ their employee status to acquire limited-edition Stanley mugs, particularly the coveted "pink quencher" collaboration with Starbucks. Priced at $45, these mugs quickly sold out, leading to chaos in stores and resale prices soaring online. Target, having sold out of the cups, clarified that they won't restock. Target's policy, outlined in their handbook, prohibits employees from using their work status to gain an unfair advantage in purchasing merchandise, especially items in high demand, a rule allegedly violated by the terminated employees.
The question is, is this legal? Check out our Tik Tok that explains why this may or may not be legal ⬇️
2. UPS Lays Off Nearly 12,000 Employees 📦
In the shipping giant’s move to "right-size" global staffing, UPS has announced the termination of nearly 12,000 employees, with 75% of these reductions set to take place in the first half of 2024. This decision comes after the company faced challenges in 2023, coupled with a tentative agreement on a new contract for drivers to avert a potential strike. Despite the substantial workforce reduction, UPS assures affected employees will receive severance packages and outplacement assistance, signaling a comprehensive approach to navigate these changes in the coming months.
You may be thinking, what does a severance agreement actually entail when you get fired? Explore the top 3 things to look out for in a severance agreement in regards to UPS…
3. AI hiring frenzy to fuel layoffs in other tech segments as firms strive to balance costs 🤖
In the ongoing tech landscape, over 20,000 tech employees have faced job losses in the early months of 2024, as reported by layoffs.fyi. Anticipating a continued trend, Dan Ives, the managing director at Wedbush Securities, predicts an unparalleled hiring frenzy in AI, reflecting the persistent arms race in the tech industry. The cautionary note extends to Google, where CEO Sundar Pichai recently warned employees of impending job cuts throughout the year, aligning with the company's strategic shift towards increased investments in artificial intelligence.
Did you know your social media profile could be your ticket to your next big career move?
Employers are peeking into our online world more than ever. So, let’s keep it clean, positive, and professional - you never know who might be scrolling through your feed!
Curious how your social media affects your job prospects? Check out one of our blogs below…
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Fly high,
The Career Rocket by The Spiggle Law Firm