TRENTON, N.J. — Thousands of jobs across New Jersey are set to be eliminated, according to Worker Adjustment and Retraining Notification (WARN) notices filed by major employers in the state. The layoffs, spanning industries from healthcare to manufacturing, underscore significant economic challenges heading into 2025.
The news is not good for New Jersey Governor Phil Murphy and the Democrat party who have been touting economic success under President Joe Biden.
CarePoint Health, one of the largest contributors to the pending layoffs, will cut a total of 2,602 positions across its Bayonne, Jersey City, and Hoboken facilities by Dec. 12, 2024. The closures represent a significant blow to the healthcare sector and the communities these facilities serve.
Several major corporations are also planning significant workforce reductions. Prudential Financial, based in Newark, intends to eliminate 238 positions starting in April 2025. Similarly, Johnson & Johnson Services in New Brunswick will lay off 231 employees by the end of December 2024. Bristol Myers Squibb will cut 274 jobs across multiple phases, with layoffs beginning in December and continuing into late 2025.
The technology and pharmaceutical sectors are also affected, with Siemens Healthcare Diagnostics in Flanders reducing its workforce by 62 employees and Novartis Group in East Hanover laying off 139 workers through phased cuts extending into 2025. Other notable employers issuing WARN notices include Verizon, Walmart, AT&T, CVS Health, and Samsung Electronics America, which collectively will shed hundreds of jobs across New Jersey.
The WARN Act requires companies with 100 or more employees to notify state and local governments of layoffs impacting at least 50 workers. These notices, while a legal requirement, are often an early indicator of broader economic shifts.
