Here is a rundown of layoffs announced so far in 2024:
TECHNOLOGY
* Amazon (NASDAQ:AMZN)’s job cuts include less than 5% of employees at Buy with Prime unit, 5% at audiobook and podcast division Audible, several hundred in streaming and studio operations, 35% at streaming unit Twitch and a few hundred at healthcare units One Medical and Amazon Pharmacy.* Layoffs at Alphabet (NASDAQ:GOOGL) include dozens at division for developing new technology X Lab, hundreds in advertising sales team, hundreds across teams, including hardware team responsible for Pixel, Nest and Fitbit (NYSE:FIT), and a majority in augmented reality team.
* Microsoft (NASDAQ:MSFT) is cutting around 1,900 jobs at gaming divisions Activision Blizzard (NASDAQ:ATVI) and Xbox. * IBM (NYSE:IBM) plans to lay off some employees in 2024, but will hire more for AI-centered roles.* E-commerce firm eBay (NASDAQ:EBAY) plans to cut about 1,000 roles, or around 9% of its current workforce.
* Videogame software provider Unity Software to cut about 25% of workforce, or 1,800 jobs.
* DocuSign (NASDAQ:DOCU) plans to reduce its current workforce by about 6%, or 400 employees, with majority of layoffs in its sales and marketing organizations.
* Snap plans to cut around 528 jobs, or 10% of its global workforce.
* Salesforce (NYSE:CRM) is laying off about 700 employees, or roughly 1% of its global workforce. * Network giant Cisco (NASDAQ:CSCO) is planning to restructure its business which will include laying off thousands of employees. * Autonomous vehicle technology company Aurora Innovation lays off 3% of its workforce.
MEDIA
* Walt Disney (NYSE:DIS)’s Pixar Animation Studios is set to cut jobs as the studio has completed production on some shows and has more staff than it needs.
* Comcast-owned British media group Sky plans to cut about 1,000 jobs across its businesses this year.
* The Los Angeles Times plans to lay off 94 journalists who belong to the newspaper’s union.
* Paramount Global is planning to conduct unspecified number of layoffs.
* Business Insider plans to lay off around 8% of its staff.
* Bell Canada plans to slash 4,800 jobs.
FINANCIAL SERVICES
* PayPal (NASDAQ:PYPL) Holdings is planning to cut about 2,500 jobs, or 9% of its global workforce this year.
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* Payments firm Block Inc has started to cut unspecified jobs as part of its previously disclosed plans.
* Citigroup is planning to reduce its headcount by 20,000 people over the next two years.
* Exchange operator Nasdaq plans to slash hundreds of jobs as it integrates fintech firm Adenza into its business.
* World’s largest asset manager BlackRock (NYSE:BLK) is set to cut about 3% of its current workforce, though it expects to have a larger headcount by the end of 2024.
CONSUMER AND RETAIL
* Cosmetics giant Estee Lauder (NYSE:EL) plans to cut 3% to 5% of its global workforce.
* Wayfair (NYSE:W) plans to lay off 1,650 employees, or about 13% of its workforce.
* U.S. department store chain Macy’s (NYSE:M) is cutting 2,350 jobs and closing five stores.
* Levi Strauss & Co (NYSE:LEVI) is planning to slash 10% to 15% of global corporate jobs.
* Hershey is planning a restructuring plan that will impact less than 5% of its workforce.
HEALTH
* Novavax (NASDAQ:NVAX) is cutting about 12% of total workforce.
MANUFACTURING
* Defense contractor Lockheed Martin (NYSE:LMT) is planning to cut 1% of its jobs.
* United Parcel Service (NYSE:UPS) plans to cut 12,000 jobs in a bid to cut $1 billion costs after a bumpy year.
NATURAL RESOURCES
* U.S. miner Piedmont Lithium cuts 27% of its workforce as part of a cost-cutting plan.
Source: Economy - investing.com
