Adds Tyson Foods, HP Inc and Bell Canada; updates Verizon
Nov 13 (Reuters) - U.S. companies across sectors are intensifying job cuts, extending a trend of workforce reductions from 2024, as they prioritize cost-savings and streamline operations amid a challenging economic environment.
Joining the list, PC-maker HP Inc HPQ.N said on Tuesday it plans to cut 4,000 to 6,000 jobs globally by fiscal year 2028 as it adopts artificial intelligence.
Here are some of the companies that have announced job cuts so far in 2025:
Sector | Date of Announcement | Company | Layoffs/Job Cuts | % of Total Workforce | |
Resources | |||||
November | Eastman Chemical | About 980 jobs, according to Reuters' calculation | About 7% | ||
November | Newmont NEM.N | Rejig impacts 16% of workforce including cuts to jobs, vacancies and changes made to job roles | 16% | ||
Manufacturing | |||||
October | General Motors GM.N | 3,300 (1,750 job cuts, 1,550 temporary layoffs) | About 2% | ||
Logistics | |||||
October | United Parcel Service UPS.N | 48,000 | Unknown | ||
Consumer and Retail | |||||
October January | Amazon AMZN.O | Around 14,000 corporate jobs globally, and 1,700 full-time in Canadian province of Quebec | Unknown | ||
January | Kohl's KSS.N | 9,600 | 10% | ||
June | Procter & Gamble PG.N | 7,000 | About 6% | ||
February | Estee Lauder EL.N | 7,000 | 11.29% | ||
November | Tyson Foods TSN.N | About 3,200 employees in Nebraska and about 1,700 in Texas | About 3.7% globally, according to Reuters' calculations | ||
September | Starbucks SBUX.O | 2,000 | Unknown | ||
October | Target TGT.N | 1,800 | About 8% | ||
May | Walmart WMT.N | 1,500 | Unknown | ||
January | Wayfair W.N | 730 in Germany | Unknown | ||
January | Brown-Forman BFb.N | 648 | 12% | ||
November | Hormel Foods HRL.N | About 250 corporate and sales jobs | 1.25% | ||
Aviation and Space | |||||
February | Southwest Airlines LUV.N | 1,750 | 15% of corporate roles | ||
February | Blue Origin | 1,400 | 10% | ||
November | About 150 salaried roles | Unknown | |||
Energy and Natural Resources | |||||
February | Chevron CVX.N | 8,000 | 20% | ||
September | Exxon XOM.N | 2,000 | About 3% to 4% | ||
January | Dow DOW.N | 1,500 | 4.17% | ||
February | Archer-Daniels-Midland ADM.N | Up to 700 | 1.70% | ||
February | Halliburton HAL.N | 290 | Unknown | ||
February | LyondellBasell LYB.N | 400 | Unknown | ||
January | SolarEdge Technologies SEDG.O | 400 | Unknown | ||
March | APA APA.O | 300 | Unknown | ||
October | * ConocoPhillips COP.N | Unknown | Unknown | ||
Technology and Media | |||||
November | Verizon VZ.N | About 13,000 jobs | About 14% | ||
November | HP Inc HPQ.N | Between 4,000 and 6,000 jobs globally by fiscal 2028 | About 6% to 10%, according to Reuters' calculations | ||
November | Synopsys SNPS.O | About 2,000 jobs | About 10% | ||
March | Microchip Technology MCHP.O | 2,000 | 9% | ||
November | IBM IBM.N | Thousands of employees | Unknown | ||
October | ** Paramount Skydance PSKY.O | Around 1,000 | Unknown | ||
November | BCE BCE.TO | About 690 positions | Unknown | ||
October January | Meta Platforms META.O | Around 600 roles in the AI unit 5% of "lowest performers" | Unknown | ||
October | Rivian Automotive RIVN.O | More than 600 employees | 4.5% | ||
May | CrowdStrike CRWD.O | 500 | 5% | ||
October May | Chegg CHGG.N | 388 248 | 45% 22% | ||
April | Intel INTC.O | Unknown | 20% | ||
May | Match Group MTCH.O | Unknown | 13% | ||
Healthcare and Pharma | |||||
February | *** UnitedHealth UNH.N | Unknown | Unknown | ||
February | Bio Rad BIO.N | Unknown | 5% | ||
Banking and Finance | |||||
March | **** Morgan Stanley MS.N | About 2,000 | 2% to 3% | ||
* ConocoPhillips is laying off employees at its Canadian operations, according to three sources and a company memo reviewed by Reuters.
** Paramount Skydance will begin a major round of layoffs with about 1,000 job cuts, a source familiar with the matter told Reuters.
*** UnitedHealth was offering employees in its benefits operations unit the option to accept buyouts in February and may pursue layoffs if the resignation quota is not met, according to a CNBC report.
**** Morgan Stanley layoffs are aimed at improving operational efficiency and unrelated to current market conditions, a person familiar with the matter told Reuters.
(Reporting by Seher Dareen and Savyata Mishra in Bengaluru; Additional reporting by Manya Saini, Anuja Bharat Mistry, Neil J Kanatt, Jaspreet Singh and Anhata Rooprai; Editing by Sriraj Kalluvila, Arun Koyyur and Sahal Muhammed)
((Seher.Dareen@thomsonreuters.com; If in India call +91 74832 70128;))