New York Layoffs — November 2008

Employers in New York submitted 18 WARN Act notices in November 2008, putting at risk an estimated 3,559 workers — up substantially from October and up 43% versus November 2007. The average filing covered 198 workers, with 12 closures among the notices.

Industry Breakdown

The Finance & Insurance sector emerged as the hardest-hit sector with 700 workers across 1 notice. Separately, Manufacturing reported 638 workers.

Geographic Hotspots

New York felt the sharpest impact, accounting for 41% of all affected workers with 1,449 workers across 4 notices.

Layoff Type Analysis

Closures accounted for 43% of affected workers, while the majority of filings were layoffs rather than permanent shutdowns.

Largest Layoffs

Topping the list was Goldman, Sachs & at its New York facility, reporting 700 affected workers. Morgan Stanley followed with 590 workers.

Trend & Outlook

This marks the third consecutive month of rising layoff activity.

These figures highlight mounting pressure on the New York labor market, with activity running above both recent and year-ago benchmarks. The Finance & Insurance sector warrants close attention heading into the next period.

This analysis is based on official WARN Act filings reported by New York. The Worker Adjustment and Retraining Notification (WARN) Act requires employers with 100+ employees to provide 60-day advance notice of mass layoffs and plant closings. Data is updated daily by WARN Firehose. View all New York WARN notices, browse layoffs by state, or download the full dataset.