BUFFALO, N.Y. — At least seven companies cut more than 500 jobs across the region in the first quarter of 2024.
The layoffs were due to a number of reasons, from company-involved lawsuits to contracts falling through, bankruptcy or other economic reasons.
Still, the national unemployment rate has remained low at 3.8%, and in New York it sits at 4.4%. The layoff rate has also remained at a low 1%, according to the U.S. Bureau of Labor Statistics.
Read more from our partners at Buffalo Business First.
