Factbox-US companies step up job cuts amid uncertain economy
(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, Verizon is planning to cut about 15,000 jobs, according to a source familiar with the matter.
Here are some of the companies that have announced job cuts so far in 2025:
Sector Date of Company Layoffs/Jo % of
Announceme b Cuts Total
nt Workfor
ce
Resources
November Eastman About 980
Chemical jobs,
according About
to 7%
Reuters’
calculatio
n
November Newmont Rejig 16%
impacts
16% of
workforce
including
cuts to
jobs,
vacancies
and
changes
made to
job roles
Manufacturing
October General About
Motors 3,300 2%
(1,750 job
cuts,
1,550
temporary
layoffs)
Logistics
October United Parcel Unknown
Service 48,000
Consumer and Retail
October Amazon Unknown
Around
14,000
corporate
jobs
globally
January
1,700
full-time
in
Canadian
province
of Quebec
January 9,600 10%
Kohl’s
June 7,000 About
Procter & 6%
Gamble
February 7,000 11.29%
September 2,000 Unknown
October Target 1,800 About
8%
May 1,500 Unknown
January 730 in Unknown
Wayfair Germany
January 648 12%
Brown-Forman
November Hormel Foods 1.25%
About 250
corporate
and sales
jobs
Aviation and Space
February 1,750 15% of
Southwest corpora
Airlines te
roles
February 1,400 10%
Blue Origin
November Spirit About 150
Airlines salaried Unknown
roles
Energy and Natural Resources
February 8,000 20%
September 2,000 About
Exxon 3% to
4%
January 1,500 4.17%
February Up to 700 1.70%
Archer-Daniels
-Midland
February 290 Unknown
February 400 Unknown
January 400 Unknown
SolarEdge
Technologies
March 300 Unknown
October * Unknown Unknown
Technology and Media
November Verizon About
15,000 About
jobs 15%
November Synopsys About
2,000 jobs About
10%
March 2,000 9%
Microchip
Technology
November IBM Unknown
Thousands
of
employees
October ** Paramount Unknown
Skydance Around
1,000
October Meta Platforms Unknown
Around
600 roles
in the AI
unit
January
5% of
"lowest
performers
"
October Rivian 4.5%
Automotive More than
600
employees
May 500 5%
CrowdStrike
October Chegg 45%
388
May 22%
248
April Unknown 20%
May Unknown 13%
Match Group
Healthcare and Pharma
February *** Unknown Unknown
February Unknown 5%
Bio Rad
Banking and Finance
March **** Morgan About 2% to
Stanley 2,000 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.
