Goldman Sachs(US:GS) Zhi Tong Cai Jing·2025-11-27 23:59Core Insights - Goldman Sachs warns that the U.S. labor market may be softening, with private sector data indicating a rising trend in layoffs across multiple industries [1] - WARN filings, which indicate planned mass layoffs, have surged to the highest level since 2016, excluding the pandemic spike, marking the most significant increase tracked by Goldman Sachs in nearly a decade [1] - The report highlights that layoffs in sectors such as technology, industrial products, and food and beverage are major contributing factors to this trend [1] Group 1 - The Challenger, Gray & Christmas data shows that corporate layoff announcements have reached unprecedented levels outside of recession periods, raising concerns about labor market weakness [1][2] - Goldman Sachs economists express that the increasing layoffs signal a worrying trend, as job seekers are finding it increasingly difficult to secure new employment [1][2] - Major companies, including Amazon, have announced significant job cuts, with Amazon planning to reduce approximately 14,000 positions to streamline operations and transition to artificial intelligence [1] Group 2 - WARN filings serve as an important indicator of employer behavior, suggesting that more companies are considering layoffs and efficiency improvements in the coming months [2] - Despite the rise in WARN notifications, initial jobless claims remain low, indicating that government reports may not fully reflect the deterioration of the job market [2] - There is ongoing concern about the impact of artificial intelligence on layoffs, but current evidence does not show that AI is a major driver of the recent wave of layoffs [2]