The debate rages about whether we are in a recession, going into a recession, or if it’s just a figment of one’s imagination.
The partial list of corporate layoffs that’s included here suggests we’re not rolling in the good times anymore.
Layoffs usually come over time and lead to a trickledown of other job losses for other companies providing goods or services to the businesses that are cutting payroll. Additionally, many of these large firms provide some months of severance, which will push off the impact on state unemployment rolls into the future.
The impact on real estate markets could be significant if we do spend time in recession this year or next. It’s painful to witness see-through buildings that were constructed for employers who have now cut staff. Fingers crossed.