More and more companies are cutting jobs to keep costs under control. Sectors affected

Several companies in the US and Canada, especially in sectors such as technology and media, have started the year with staff cuts as they try to keep costs under control in an uncertain economic environment, Reuters reports.

Here is a list of layoffs announced so far by major companies in 2024:

Technology

At Amazon, the job cuts include less than 5% of employees at the Buy with Prime unit, 5% at the Audible audiobook and podcast division, several hundred in streaming and studio operations, 35% at the streaming unit Twitch and several hundred from One Medical and Amazon Pharmacy healthcare units, writes Reuters, quoted by News.ro.

The layoffs at the Alphabet group include dozens of positions at the new technology development division X Lab, hundreds in the advertising sales team, hundreds in teams including the hardware team responsible for the Pixel, Nest and Fitbit, and a majority in the augmented reality team .

Microsoft is cutting about 1,900 jobs at its Activision Blizzard and Xbox gaming divisions.

Read also

IBM has new plans to lay off employees in 2024, but will hire more for AI-centric roles.

E-commerce firm eBay has new plans to cut about 1,000 jobs, or about 9% of its current workforce.

Video game software provider Unity Software will cut about 25% of its workforce, or 1,800 jobs.

DocuSign announced new plans to reduce its current workforce by about 6%, or 400 employees, with most of the layoffs to be in its sales and marketing organizations.

SNAP has new plans to eliminate about 528 jobs, or 10% of the global workforce.

Salesforce is laying off about 700 employees, or about 1% of its global workforce.

Networking giant Cisco plans to restructure its business, which will include laying off thousands of employees.

Autonomous vehicle technology company Aurora Innovation is laying off 3% of its workforce.

Media

At Walt Disney, Pixar Animation Studios is set to cut jobs as the studio has completed production on some shows and has more staff than it needs.

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 who belong to the paper’s union.

Paramount Global plans to make an unspecified number of layoffs.

Business Insider plans to lay off about 8% of its staff.

Bell Canada has new 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 has begun cutting unspecified jobs as part of previously disclosed plans.

Citigroup plans to cut its workforce by 20,000 people over the next two years.

The operator of the Nasdaq exchange has new plans to cut hundreds of jobs as it integrates fintech firm Adenza into its business.

The world’s largest asset manager, BlackRock is on track to cut about 3% of its current workforce, although it expects to have more employees by the end of 2024.

Consumer and retail products

Cosmetics giant Estee Lauder has announced new plans to cut 3% to 5% of its global workforce.

Wayfair will lay off 1,650 employees, or about 13% of its workforce.

US department store chain Macy’s (cuts 2,350 jobs and closes five stores.

Levi Strauss & Co (plans to cut 10% to 15% global corporate jobs.

Hershey has a restructuring plan that will affect less than 5% of the workforce.

Health

Novavax cuts approximately 12% of the total workforce.

output

Defense contractor Lockheed Martin (plans to cut 1% of jobs.

United Parcel Service plans to cut 12,000 jobs in an effort to cut costs by $1 billion after a turbulent year.

Natural Resources

US mining group Piedmont Lithium is laying off 27% of its workforce as part of a cost-cutting plan.

Article recommended by sport.ro

author avatar
Barack
As an experienced journalist, expert in useful tips, I have a passion for providing valuable information and practical guides to a wide audience. My articles are characterized by thorough research and verification of reliable sources that ensure the quality and accuracy of every information I provide
Loading...
Les Villas Du Soleil: Sunny News Today