RALEIGH – Reports of layoffs and hiring slowdowns have accelerated in recent weeks as concerns about the future of the global economy seemingly continue to intensify and a possible recession looms.

So starting this week, WRAL TechWire will report on what’s changing across North Carolina , and whether there are any national or international companies making decisions that could affect workers in this state.

This new report – “Layoff Watch” – is designed to augment our WRAL TechWire Jobs Report, which will continue to monitor and analyze hiring trends in the Triangle and in the state’s economy.

Is the job market boom over?

Job market: boom over?

Here’s an update on the latest job cuts:

  • Invitae announced it planned to lay off as many as 1,000 workers globally and Arrival, with a North American headquarters in Charlotte, announced it could cut 30% of its staff in the coming months.
  • Microsoft, which as recently as last month, told WRAL TechWire that it was hiring for hundreds of positions locally in the Triangle, has now also announced that it will cut hundreds of jobs, and the WRAL TechWire Jobs Report shows a drop off in the number of openings locally at the firm.
  • Peloton, which had something of its own pandemic boom and bought a North Carolina company previously, announced it would no longer manufacture its own stationary exercise bicycles, and would lay off some 600 workers.
  • And Biogen, which has a big presence in RTP, announced layoffs in a move to reduce costs last week, as well.
  • Earlier this month, technology startup Adwerx announced it would lay off 40 workers, citing “macroeconomic uncertainty.”

Not all bad jobs news is about cuts. For example: Advance Auto Parts ended its agreement with the state of North Carolina under which the company could have received economic subsidies if it met previously agreed upon conditions, including adding employees based in its headquarters.

Advance Auto Parts joins Microsoft and Sonic Automotive as companies with facilities based in North Carolina that have requested to terminate an existing deal tied to job creation and investment with the state this year.

Advance Auto Parts backs out of jobs incentives deal that brought HQ to Raleigh

Permanent closings

Further, two manufacturing plants along the I-85 corridor will permanently close, according to the North Carolina Department of Commerce WARN Report.

In total, so far this year, through Friday, July 22, 2,456 workers in North Carolina have been notified of a pending company layoff under the Worker Adjustment and Retraining Notification (WARN) Act.

And while the North Carolina Department of Commerce provides regular updates to the WARN report, from which that 2,456 number was calculated by WRAL TechWire, it is not a report of all layoffs that may have occurred in North Carolina during that time period.  For example, the layoffs of 40 Adwerx employees in Durham does not appear in the state’s report.

Layoffs hit Microsoft: Tech giant says hundreds of workers to be let go

Not all hiring news pertains to layoffs

Of course, not all the news is bad.

VinFast is already hiring its leadership team and the automotive plant remains on track to add at least 7,500 jobs to the region.

And, last week WRAL TechWire reported that Eaton plans to expand its Triangle-area workforce by some 25%, adding at least 170 jobs.

In response to the July 19 WRAL TechWire Jobs Report, multiple companies reached out to WRAL TechWire through spokespeople to note that they’ll continue to hire, and WRAL TechWire will report on hiring plans as companies disclose them.

Eaton adding jobs in Triangle, including many to be based at revamped Raleigh office

Recent reports of company layoffs

Stories about layoffs from earlier this month appear below, and can also be accessed in the WRAL TechWire archive.

Job cuts at Biogen, which has big RTP presence, help drug giant reduce costs 40%

More layoffs in NC – Medline closing Salisbury facility, will cut nearly 100 workers

Genetics firm Invitae, with Morrisville facility, to lay off more than 1,000 workers

Automotive manufacturer to close China Grove plant, lay off 81 workers

Report: Arrival, with N.A. HQ in Charlotte, could lay off 30% of workers

Layoffs hit Microsoft: Tech giant says hundreds of workers to be let go

Peloton, which had plans for big NC plant, will stop making bikes; 600 to lose jobs

Durham real estate tech startup Adwerx lays off 40, cites ‘macroeconomic uncertainty’