Below is a snapshot of the job cuts announced so far this year:
TECHNOLOGY
* Cisco Systems will lay off 7% of its global workforce as part of a restructuring plan, the networking giant said, about six months after announcing job cuts of 5%, or more than 4,000 positions.
* Amazon’s job cuts include fewer than 5% of employees at its Buy with Prime unit, 5% at audiobooks and podcasts division Audible, several hundred in streaming and studio operations, 35% at streaming unit Twitch, a few hundred at healthcare units One Medical and Amazon Pharmacy. It also announced layoffs at Amazon Web Services (AWS) affecting several hundred positions in global sales, marketing and services and a few hundred positions on its brick-and-mortar technology team.
* The layoffs at Alphabet include dozens in the company’s new technology development division X Lab, hundreds on the ad sales team, hundreds across all teams including the hardware team responsible for Pixel, Nest and Fitbit, and a majority on the augmented reality team.
* Microsoft is cutting about 1,900 jobs across its Activision Blizzard and Xbox gaming divisions.
* IBM plans to lay off some employees in 2024, but will hire more for AI-focused roles.
* Intel said it would cut more than 15% of its workforce, or about 17,500 people, as the chipmaker seeks a turnaround focused on its money-losing manufacturing business.
* Paramount Global announced it will cut 15 percent of its U.S. workforce as the media conglomerate struggles with a slumping cable TV business. The reductions are part of Paramount’s efforts to cut $500 million in costs ahead of its merger with Skydance Media and will affect about 2,000 people.
* E-commerce company eBay plans to cut about 1,000 jobs or about 9% of its workforce.
* Video game software provider Unity Software is cutting about 25% of its workforce, or 1,800 jobs.
* DocuSign plans to reduce its workforce by about 6%, or 400 employees, mostly in its sales and marketing organizations.
* Snap plans to cut about 528 jobs, or 10% of its global workforce.
* Salesforce is laying off about 700 employees, or about 1% of its global workforce.
* Autonomous vehicle technology company Aurora Innovation lays off 3% of its workforce.
* Canada’s BlackBerry plans more layoffs, adding to the nearly 200 job cuts made in the previous quarter.
* Satellite radio company SiriusXM plans to cut its workforce by about 3%, or about 160 positions.
* Bumble is set to cut 350 jobs, or about 30% of its workforce.
CAR MANUFACTURERS
* Electric carmaker Tesla will lay off more than 10% of its global workforce, an internal memo seen by Reuters on Monday shows, as it grapples with falling sales amid an intensifying electric vehicle price war.
* Electric vehicle maker Lucid said it would cut its workforce by 6%, or about 400 employees, as the electric vehicle industry faces slower growth.
MEDIA
* Pixar Animation Studios, maker of classic films such as “Toy Story” and “Up,” began laying off about 14% of its workforce as it scales back development of original streaming series. About 175 people will be affected by the job cuts at the Walt Disney Co unit.
* British media group Sky, owned by Comcast, plans to cut around 1,000 jobs across its businesses this year.
*The Los Angeles Times plans to lay off 94 journalists.
* Paramount Global is planning to make an unspecified number of layoffs.
* Business Insider plans to lay off about 8% of its staff.
* Bell Canada plans to cut 4,800 jobs.
FINANCIAL SERVICES
* PayPal Holdings plans to cut about 2,500 jobs, or 9% of its global workforce, this year.
* Payments firm Block Inc. has begun cutting unspecified jobs.
* Citigroup plans to reduce its workforce by 20,000 people over the next two years. It has announced plans to eliminate 716 jobs in New York to meet that goal.
* Investment banking giant Morgan Stanley is planning to cut hundreds of jobs in its wealth management unit, a person familiar with the matter told Reuters, adding that the cuts will affect less than 1 percent of the division’s employees.
* Stock exchange operator Nasdaq plans to cut hundreds of jobs as it integrates fintech firm Adenza into its business.
* Asset manager BlackRock plans to cut about 3% of its workforce but expects to have a larger headcount by the end of 2024.
CONSUMER AND RETAIL
* The world’s largest retailer, Walmart, plans to cut hundreds of jobs at its corporate headquarters and relocate most of its remote workforce based in the United States and Canada to three offices.
* Cosmetics giant Estee Lauder plans to cut 3-5% of its global workforce.
* Wayfair plans to lay off 1,650 employees, or about 13% of its workforce.
* US department store chain Macy’s will cut 2,350 jobs and close five stores.
* Levi Strauss & Co plans to cut 10% to 15% of its corporate jobs globally.
*Hershey’s restructuring plan will affect less than 5% of its workforce.
* Nike will cut about 2% of its total workforce, or more than 1,600 jobs, as the sportswear giant tries to cut costs after reporting weaker profits this year. The company’s footwear brand, Converse, will also cut jobs as part of Nike’s $2 billion cost-saving plan.
HEALTH
* Novavax is cutting about 12% of its workforce.
* Consumer healthcare company Kenvue will cut 4% of its global workforce.
MANUFACTURING
* Defense contractor Lockheed Martin plans to cut 1% of its jobs.
* Spirit AeroSystems is laying off several hundred members of its Wichita, Kansas, workforce, according to an internal memo, as the company grapples with high debt and slowing production at Boeing, its key customer.
* US defence contractor L3Harris cut 5% of its workforce in April in a bid to streamline its business and save costs.
LOGISTICS
* United Parcel Service plans to cut 12,000 jobs to reduce costs.
* FedEx plans to cut between 1,700 and 2,000 white-collar jobs in Europe as the package delivery company struggles with weak freight demand.
NATURAL RESOURCES
* U.S. natural gas producer Chesapeake Energy is laying off employees after completing the divestment of its oil assets last year.
* US miner Piedmont Lithium cuts 27% of its workforce as part of cost-cutting plan.
* Canadian oil and gas pipeline company TC Energy has laid off some of its workers as part of a previously announced plan to integrate its oil and natural gas pipeline units.
* Canada-based crude oil pipeline operator Enbridge said it would cut its workforce by 650 jobs, or 5%, in a bid to reduce costs.
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