Billionaires, Layoffs, and the Shrinking Safety Net: The Reality Behind the Job Crisis

U.S. Layoffs Surge as Tariffs and Greed Collide

As the wave of layoffs spreads across the United States, the United Auto Workers (UAW) union has voiced a stark warning: the layoff support fund for displaced workers is running dangerously low. Moreover, replacing those lost jobs with roles of similar quality is proving nearly impossible.

“Our first concern will be to look around at all the companies where we have members and see if we can find jobs,” said UAW Local 1st Vice President Mark DePaoli. “I mean, jobs are going to be the key. We need jobs and currently, at this time, the majority of the companies that we work with and represent our members at are not hiring.”

The unfolding crisis in Dearborn, Michigan, as shared by Representative Ro Khanna on social media, represents only a small fraction of a national problem. Across the country, industry after industry is shedding jobs—some quietly, some in massive rounds—leaving families in despair and communities reeling.

An Avalanche of Layoffs: The Numbers Tell the Story

Here’s a grim snapshot of layoffs sweeping the nation, touching nearly every major sector:

• Perdue Farms cut 433 positions at their poultry plant in Monterey, Tennessee.
• John Deere laid off 9 workers in Iowa, citing tariff-related production issues.
• Summit Interconnect, a semiconductor company, closed in Santa Ana, California, eliminating 74 jobs.
• Bando USA Inc., a power transmission manufacturer, cut 65 roles in Bowling Green, Kentucky.
• Wilson Creek Energy LLC, a coal producer, cut 332 jobs in Friedens, PA, with another 93 lost in Grantsville, Maryland.
• Advanced Drainage Systems closed its Washington facility, resulting in 54 lost jobs.
• Sensata Technologies, producing electrical equipment, cut 57 positions in Carpinteria, California.
• InvenSense Inc., an electronics manufacturer in San Jose, laid off 55 employees.
• Quantumscape Battery Inc. shed 53 roles as part of restructuring.
• Biosense Webster Inc. closed its Los Gatos facility, cutting 9 jobs.
• ImmunityBio, Inc. eliminated 10 positions between El Segundo and Culver City.
• Del Monte Foods let go of 378 workers in California.
• Diana’s Bakery in Massachusetts laid off 229.
• AlaTrade Foods terminated 165 roles in Alabama.
• Rich Products Corporation closed its Santa Fe Springs plant, cutting 139 jobs.
• Fila USA eliminated 130 jobs across two Maryland facilities.
• S&B Engineers and Constructors laid off 112 workers in Tennessee and 43 in Texas.
• Smurfit Westrock closed in Illinois, resulting in 88 job losses.
• Syzygy Plasmonics, a chemical company in Houston, laid off 68 employees.
• Pregis shuttered its San Antonio plant, resulting in 45 layoffs.
• Edaron, LLC, a board game manufacturer, shut down in Massachusetts, affecting 24 workers.
• Pharma Cann, a cannabis firm in Holliston, cut 19 roles.
• Prime MSO, a medical management company, closed in California, eliminating 6 jobs.

Each of these job losses is more than a number—it’s a family’s livelihood, a community disrupted, and another sign that the economic promises of recent years are crumbling under the weight of corporate consolidation and ineffective economic policy.

Public Sector Under Siege

The private sector isn’t alone in its hemorrhaging of jobs. Public sector workers are being laid off en masse due to the cost-cutting spree driven by Elon Musk’s Department of Government Efficiency (DOGE). With union strength at historic lows and corporate power unchecked, job security for American workers is under severe threat.

Labor expert Les Leopold, director of the Labor Institute, has long warned of the consequences of mass layoffs driven by stock buybacks and corporate greed. Now, he says, things are even worse than he imagined. Add to that Trump’s chaotic tariff policies, and the picture turns dire.

Democrats Urged to Fight Fire with Fire

Leopold argues that Democrats must stop playing defense. Instead of just calling Trump’s tariffs “insane,” he urges them to reframe them as job-killing policies.

“Democrats should take a page from Trump and put job protection on the top of their agenda,” Leopold wrote. “As tariffs bite and cause job destruction, they should show up and support those laid-off workers. Call them job-killing tariffs. When prices rise, blame Trump.”

Imagine, he suggests, a Democratic coalition—unions and politicians alike—standing at the gates of shuttered plants, publicly opposing layoffs and billionaire stock buybacks. That kind of visible solidarity, he argues, could change the narrative and perhaps stem the tide of job losses.

But so far, this isn’t happening. The silence from those in power is deafening, and workers are paying the price.

The Broader Economic Fallout

According to Axios’ Ben Berkowitz, Trump’s tariffs aren’t just hurting workers—they’re poisoning the economy. When tariffs raise prices across the board, it forces companies to either pass the cost to consumers, lay off staff, or both.

As Berkowitz notes: “When everything gets more expensive because of tariffs, that starts a cycle for businesses too—one that might end with layoffs, bankruptcies, and higher prices for the survivors’ customers.”

That cycle may have just begun, but the consequences are already devastating.

He points to the Russell 2000—a stock index tracking small-cap U.S. companies—as a key indicator. It’s down nearly 20% this year, a sign that confidence in small business futures is evaporating.

While the Dow may remain relatively stable, smaller firms—the heart of America’s Main Street economy—are under intense pressure. And when small businesses go under, they rarely come back.

Tariffs, Austerity, and the Trump Doctrine

Congressman Lloyd Doggett (D-TX) has also voiced concern. Speaking from his district, where layoffs are already affecting workers and retirees, he criticized Trump’s focus on personal leisure while American livelihoods fall apart.

As tariffs create cascading effects on the price of goods and production costs, companies are making brutal calculations. Either absorb the cost or cut staff. Most are choosing the latter. And without strong union protections or government intervention, American workers are left defenseless.

Trump’s economic policies, largely favoring billionaires and corporations, are being felt most deeply by those with the least power. With Trump doubling down on protectionist rhetoric and dismantling global trade structures, the prospect of recovery becomes more uncertain.

A System Failing Its People

What’s happening across the U.S. isn’t just an economic downturn—it’s the unraveling of a social contract. Regulatory agencies have failed to protect consumers or enforce antitrust laws. Corporations are dictating national policy. And workers are being discarded in favor of quarterly profits.

The revolving door between government and corporate boardrooms continues to spin unchecked. Layoffs are justified in board meetings and executed through policy decisions made thousands of miles from the communities they devastate.

As Khanna, Doggett, and Leopold point out, the fight to protect American workers isn’t just economic—it’s moral. Every plant that closes without resistance, every layoff that’s met with silence, is a signal that democracy is on life support.

It’s time to demand more—from politicians, from labor leaders, and from the media. Workers deserve champions, not silence.

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