Elizabeth Warren asks Meta, Amazon, and others why they're laying workers off despite tax perks [View all]

Source: Yahoo! Finance

Updated Mon, March 16, 2026 at 1:18 PM EDT


Democratic Sen. Elizabeth Warren is grilling several major employers, including Amazon (AMZN), Target (TGT), and UPS (UPS), about their recent spate of layoffs.

In letters sent Sunday to the executives of Microsoft (MSFT), Amazon, Home Depot (HD), Meta (META), Nike (NKE), Verizon (VZ), Target, and UPS, Warren asked the companies to detail by March 30 how much of a tax cut they received in 2025 following President Trump's One Big Beautiful Bill Act, whether they anticipated any tariff refunds, and whether they made any contributions to Trump's projects, among other queries.

Combined, the companies account for tens of thousands of lost positions in the past several months. Due to current economic conditions, "newly laid off workers could be forced to take lower-paying jobs — if they are able to find employment at all," Warren wrote.

While the overall layoff rate remains near historically low levels, any worker cast out of a job right now has to contend with one of the most strained labor markets in years. That's thanks to few new jobs being added, few workers quitting their current positions, and fierce competition for entry-level jobs even among experienced professionals. Warren questioned why the companies laid off workers even after last summer's sweeping tax law bestowed new benefits for corporations.

Read more: https://finance.yahoo.com/news/elizabeth-warren-asks-meta-amazon-and-others-why-theyre-laying-workers-off-despite-tax-perks-171812502.html?fr=sycsrp_catchall