Layoffs at U.S. factories stood at the highest levels since the 2009 financial crisis, according to a new report. The analysis excludes the Covid-19 pandemic.
Concretely, S&P noted that even though the manufacturing index showed better-than-expected results in June, it was largely a result of inventory build. Manufacturers have reduced their headcount in three of the past four months, seeking to reduce costs and concerned about demand.
