RICHMOND, Va. — Goochland-based used car company CarMax announced it will cut 350 jobs nationwide this week, following Amazon's decision to eliminate more than 10,000 positions. These cuts come alongside reductions in federal government employment.

Bob McNab, who heads the economics department at Old Dominion University, said the trend extends beyond individual companies.

"We've seen nationwide and in Virginia a rising tide of layoffs even among tech companies who are doing well in the stock market, but are trimming payroll to maintain profitability and beat earnings expectations," McNab said.

Healthcare and insurance providers are also beginning to restructure in anticipation of changes related to the One Big Beautiful Bill.

"We've now seen increased layoff warnings for healthcare, he

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