U.S. Companies Amplify Job Cuts Amid Economic Turbulence
Across a multitude of sectors, American companies are escalating workforce reductions in a deliberate extension of the trend that commenced in 2024.
This endeavor is part of a broader strategy to prioritize fiscal discipline and optimize operational efficiencies amid a persistently challenging economic milieu.
Among the latest to announce significant layoffs is Verizon VZ, which intends to eliminate approximately 15,000 positions, as reported by a source closely associated with the company.
Below is a compilation of notable companies that have disclosed layoffs thus far in 2025:
| Sector | Date of Announcement | Company | Job Cuts | % of Total Workforce | |
|---|---|---|---|---|---|
| Resources | |||||
| November | Eastman Chemical | Approximately 980 jobs | About 7% | ||
| November | Newmont NEM | Around 600 roles in the AI unit | 16% | ||
| Manufacturing | |||||
| October | General Motors GM | 3,300 (1,750 job cuts, 1,550 temporary layoffs) | About 2% | ||
| Logistics | |||||
| October | United Parcel Service UPS | 48,000 | Unknown | ||
| Consumer and Retail | |||||
| October | Amazon AMZN | Approximately 14,000 corporate jobs globally (1,700 in Quebec) | Unknown | ||
| January | Kohl’s KSS | 9,600 | 10% | ||
| June | Procter & Gamble PG | 7,000 | About 6% | ||
| February | Estee Lauder EL | 7,000 | 11.29% | ||
| September | Starbucks SBUX | 2,000 | Unknown | ||
| October | Target TGT | 1,800 | About 8% | ||
| May | Walmart WMT | 1,500 | Unknown | ||
| January | Wayfair W | 730 in Germany | Unknown | ||
| January | Brown-Forman BF.A | 648 | 12% | ||
| November | Hormel Foods HRL | Approximately 250 corporate and sales positions | 1.25% | ||
| Aviation and Space | |||||
| February | Southwest Airlines LUV | 1,750 | 15% of corporate roles | ||
| February | Blue Origin | 1,400 | 10% | ||
| November | Spirit Airlines | About 150 salaried positions | Unknown | ||
| Energy and Natural Resources | |||||
| February | Chevron CVX | 8,000 | 20% | ||
| September | Exxon XOM | 2,000 | About 3% to 4% | ||
| January | Dow DOW | 1,500 | 4.17% | ||
| February | Archer-Daniels-Midland ADM | Up to 700 | 1.70% | ||
| February | Halliburton HAL | 290 | Unknown | ||
| February | LyondellBasell LYB | 400 | Unknown | ||
| January | SolarEdge Technologies SEDG | 400 | Unknown | ||
| March | APA APA | 300 | Unknown | ||
| October | * ConocoPhillips COP | Unknown | Unknown | ||
| Technology and Media | |||||
| November | Verizon VZ | About 15,000 jobs | About 15% | ||
| November | Synopsys SNPS | Approximately 2,000 jobs | About 10% | ||
| March | Microchip Technology MCHP | 2,000 | 9% | ||
| November | IBM IBM | Thousands of employees | Unknown | ||
| October | ** Paramount Skydance PSKY | Around 1,000 | Unknown | ||
| October | January | Meta Platforms META | Around 600 roles in AI unit | 5% of “lowest performers” | |
| October | Rivian Automotive RIVN | More than 600 employees | 4.5% | ||
| May | CrowdStrike CRWD | 500 | 5% | ||
| October | May | Chegg CHGG | 388, 248 | 45%, 22% | |
| April | Intel INTC | Unknown | 20% | ||
| May | Match Group MTCH | Unknown | 13% | ||
| Healthcare and Pharma | |||||
| February | *** UnitedHealth UNH | Unknown | Unknown | ||
| February | Bio Rad BIO | Unknown | 5% | ||
| Banking and Finance | |||||
| March | **** Morgan Stanley MS | About 2,000 | 2% to 3% | ||
ConocoPhillips is executing layoffs at its Canadian operations, as per three sources and an internal company memo reviewed by Reuters.
Paramount Skydance is poised to initiate a substantial round of layoffs, targeting approximately 1,000 positions, according to an insider’s disclosure to Reuters.
UnitedHealth has been extending offers for buyouts within its benefits operations unit in February and may consider layoffs should the voluntary resignation quota not be realized, as reported by CNBC.
The layoffs at Morgan Stanley are intended to enhance operational efficiency and are not linked to prevailing market conditions, according to sources familiar with the matter.
Source link: Tradingview.com.
