BUFFALO, N.Y. — 2023 has been a challenging year for local companies, which faced a hardened economy and a tight labor market. At least 24 of them trimmed their workforces in response, citing reasons from labor negotiations to bankruptcy and plant closures.
More than 2,500 layoffs were reported through the Worker Adjustment and Retraining Notifications filed with the state Department of Labor and through company news releases.
“If you look at business failure rates and the amount of layoffs, it’s daunting,” said Invest Buffalo Niagara president and CEO Tom Kucharski. “You’re really climbing up the hill as far as attracting new business and retaining the business that we have and helping them adjust to the speed of different factors in their industries.”
Read more from our partners at Buffalo Business First.
