RESEARCH TRIANGLE PARK – The odds of the United States economy entering a recession is now three in five, according to a new survey reported by Bloomberg. And workers are growing increasingly worried about losing their jobs.

The odds are an increase from coin-flip odds measured a month prior, when it was a 50-50 proposition, according to the same survey.

A result: 50% of workers are worried that their company is not planning for a coming recession, with 58% of workers worried that their company will make layoffs, another survey shows.

“We surveyed hundreds of business leaders across industries this week to confirm whether this is happening outside of tech, too. We found that companies are overwhelmingly playing defense,” says the survey from Invisible, an “outsourcing service to scale operations, cut costs, and support their teams.”

Its findings show why workers are concerned:

70% of companies are actively preparing for a recession

30% are cutting administrative costs

29% are freezing hiring

24% are cutting projects

20% are downsizing

And the number of job cuts being made is growing as WRAL TechWire’s Layoff Watch documents.

Layoffs.fyi reports that 761 startups have cut at least 91,404 jobs since January 1, 2022.

Layoffs are occurring in the tech sector and in the real estate industry, two of the sectors most impacted by the Federal Reserve’s decision to increase interest rates, with another interest rate hike of between 50 and 75 basis points expected in November.

And, further, tech sector layoffs have now climbed above 44,000, according to TechCrunch.

But In the Triangle, the number of job openings has fallen by more than 5,000 postings according to the latest WRAL TechWire Jobs Report.

That’s even as North Carolina has seen the third-highest number of job openings in September as any month in the prior 13 months, according to NC TECH, and the most recent Labor Outlook for Raleigh-Durham indicates that the Triangle’s strengths will enable the regional economy to persist, and even excel, during a potential recession, should the U.S. economy slip into a recessionary period in the short-term.

Here’s the latest, from this week’s edition of the WRAL TechWire Layoff Watch which tracks job cuts news dating back to July.

October layoffs

Oct. 14: Beyond Meat lays off nearly one in five workers, or 19% of its workforce, as sales are lower than anticipated and the company is cutting back, according to CNBC.

Beyond Meat lays off nearly one in five workers, or 19% of its workforce, as sales are lower than anticipated and the company is cutting back, according to CNBC. Oct. 12: Salesforce makes job cuts and announces a hiring freeze, according to Protocol

Salesforce makes job cuts and announces a hiring freeze, according to Protocol Oct. 11: Noom lays off about 10% of its workforce, or about 500 workers, according to TechCrunch, mostly among the company’s coaches, the second-such layoffs this year

Noom lays off about 10% of its workforce, or about 500 workers, according to TechCrunch, mostly among the company’s coaches, the second-such layoffs this year Oct. 11: Udacity founder, president, and now executive chairman Sebastian Thrun announced layoffs of 13% of its workforce, or 55 workers, citing “increasing market headwinds.”

Udacity founder, president, and now executive chairman Sebastian Thrun announced layoffs of 13% of its workforce, or 55 workers, citing “increasing market headwinds.” Oct. 7: Impossible Foods is making layoffs, again, with an estimated 50 workers to get cut, according to SF Gate. That follows layoffs made earlier this year.

Impossible Foods is making layoffs, again, with an estimated 50 workers to get cut, according to SF Gate. That follows layoffs made earlier this year. Oct. 6: Peloton will – again – lay off hundreds of workers in a move to “save” the company, according to its CEO

Peloton will – again – lay off hundreds of workers in a move to “save” the company, according to its CEO Oct. 6: Spotify will lay off less than 5% of its podcast staff, cancelling 11 original podcasts, according to a TechCrunch report

Spotify will lay off less than 5% of its podcast staff, cancelling 11 original podcasts, according to a TechCrunch report Oct. 6: The so-called “crypto winter” continues, as Crypto.com will lay off an undisclosed number of workers. Originally, a report from Ad Age suggested the layoffs could have impacted about 30% of the company’s remaining workforce, after it laid off more than 200 workers earlier in the year, but Tech in Asia reported on October 10 that the company said that was “inaccurate” despite Ad Age reporting that a spokesperson for the company did confirm there had been “targeted job reductions”

Late September layoffs

More September layoffs

More companies making layoffs

Sept. 15 – Amazon confirms to WRAL TechWire that a Durham facility that employs some 400 workers is being shut down, and a spokesperson tells WRAL TechWire that the company does not intend to lay off any workers, as every employee will be given the opportunity to transfer to another Amazon facility. Meanwhile, a group of Amazon employees who work in a Garner facility continue efforts to form a union.

Amazon confirms to WRAL TechWire that a Durham facility that employs some 400 workers is being shut down, and a spokesperson tells WRAL TechWire that the company does not intend to lay off any workers, as every employee will be given the opportunity to transfer to another Amazon facility. Meanwhile, a group of Amazon employees who work in a Garner facility continue efforts to form a union. Sept. 14 – TRU Colors, a startup brewery in Wilmington, announced it would shut down, and serial entrepreneur and founder George Taylor explains why.

TRU Colors, a startup brewery in Wilmington, announced it would shut down, and serial entrepreneur and founder George Taylor explains why. Sept. 14 – The cloud firm Twilio cuts 11% of workers and CEO Jeff Lawson explains why in a letter, noting that the company used an “Anti-Racist” lens in determining which employees would be laid off.

The cloud firm Twilio cuts 11% of workers and CEO Jeff Lawson explains why in a letter, noting that the company used an “Anti-Racist” lens in determining which employees would be laid off. Sept. 12 – Coats American, Inc. will close a Hendersonville plant and lay off 51 workers by the end of November, according to a required legal notice sent by the company to the North Carolina Department of Commerce.

Coats American, Inc. will close a Hendersonville plant and lay off 51 workers by the end of November, according to a required legal notice sent by the company to the North Carolina Department of Commerce. Sept. 12 – Pink Energy, a solar company headquartered in the Charlotte area, announced it would lay off 500 workers a few months after laying off 600 workers, with the CEO citing faulty equipment as the cause.

Early September layoffs

Sept. 8 – Avaya, with headquarters in Durham, announced it would reduce its workforce in order to lower costs to “position Avaya as a more agile and innovative organization,” the company’s new CEO told WRAL TechWire in a statement. The number of layoffs is not known; but the company allocated $11 million to be used to cover costs associated with laying off workers, as WRAL TechWire reported in August.

– Avaya, with headquarters in Durham, announced it would reduce its workforce in order to lower costs to “position Avaya as a more agile and innovative organization,” the company’s new CEO told WRAL TechWire in a statement. The number of layoffs is not known; but the company allocated $11 million to be used to cover costs associated with laying off workers, as WRAL TechWire reported in August. Sept. 7 – Pendo layoffs affect 45 workers, less than 5% of its workforce, with half of those layoffs occurring in the company’s Raleigh headquarters location. WRAL TechWire confirmed the layoffs on September 12.

– Pendo layoffs affect 45 workers, less than 5% of its workforce, with half of those layoffs occurring in the company’s Raleigh headquarters location. WRAL TechWire confirmed the layoffs on September 12. Sept. 2 – The latest data on the employment situation in the United States showed that the pace of job growth slowed in August but the economy added more jobs than expected during the month, a preliminary total of 315,000, though the unemployment rate increased as more people began to look for work and the labor force participation rate increased as well.

– The latest data on the employment situation in the United States showed that the pace of job growth slowed in August but the economy added more jobs than expected during the month, a preliminary total of 315,000, though the unemployment rate increased as more people began to look for work and the labor force participation rate increased as well. Sept. 1 – Unemployment benefits claims fell, data showed.

August tech layoffs

Here’s a list of some of the layoffs that may affect North Carolina workers that occurred in August:

More August layoffs

Even more August tech layoffs

Layoffs announced in July

July 29 – Cargo services firm in Charlotte cutting 154 workers

Cargo services firm in Charlotte cutting 154 workers July 27 – The latest survey results from NC TECH show that 1.6% of surveyed companies have laid off, considered making layoffs, or furloughed workers, and another 17.5% have already implemented a hiring freeze.

The latest survey results from NC TECH show that 1.6% of surveyed companies have laid off, considered making layoffs, or furloughed workers, and another 17.5% have already implemented a hiring freeze. July 27 – Automaker Rivian will lay off about 6% of its workforce, the founder and CEO sent in an email to employees (TechCrunch report.)

Automaker Rivian will lay off about 6% of its workforce, the founder and CEO sent in an email to employees (TechCrunch report.) July 26 – Layoffs at Shopify, with approximately 10% of global workforce slashed

Other reports, tech layoffs

More on layoffs announced earlier this year:

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. They’ll be making additional announcements in the coming weeks.

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. The firm is still hiring in North Carolina, according to the latest WRAL TechWire Jobs Report, though it does shows a drop off in the number of openings locally at the firm compared to earlier this year.

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. (Editor’s Note: This was the first announcement from Peloton; the second announcement came later in the summer.)

And Biogen, which has a big presence in RTP, announced layoffs in a move to reduce costs last month, as well.

Durham technology startup Adwerx announced it would lay off 40 workers, citing “macroeconomic uncertainty.”

More Triangle tech layoffs coverage