Latest Mass Layoffs: Detailed List & Reporting of Notable Company Cutbacks

Mass layoffs are a difficult but common occurrence in the business world that leaves many employees wondering how they’ll be affected and what to do should they find themselves holding a pink slip.

The current job market in the U.S. remains competitive, with low unemployment and steady job growth, but uncertainty looms as businesses face challenges in adapting to economic shifts, evolving technology, and changing consumer demands.

Taking all of this into account, many US companies have already implemented mass layoffs this year.

What is a mass layoff?

The definition of a mass layoff is the termination of a large number of employees from an organization at the same time. Mass layoffs are usually due to economic downturns.

A “mass layoff” can be defined when the following occurs:

• When at least 50 employees are laid off within 30-days or less resulting in the laid-off employees equaling more than one-third of the company’s workforce
• 500 employees are laid off within 30-days or less, no matter how large the company’s workforce

This can be devastating for both the individuals affected personally and the economy as a whole.

Everything you need to know about company layoffs this year:

• Will there be more mass layoffs in 2024?
• Notable companies with mass layoffs in 2025
• Full list of 2025 company layoffs
• Notable companies with mass layoffs in 2024
• Full list of 2024 company layoffs
• Notable companies that had mass layoffs in 2023
• Full list of 2023 company layoffs
• Full list of 2022 company layoffs
• What is the Federal WARN Act?
• What to do if you’ve been laid off
• Top industries to apply to after you’ve been laid off

Will there be more mass layoffs in 2025?

According to recent trends, layoffs are expected to persist into 2025, driven by economic pressures and industry adjustments to technological advancements.

Companies across sectors are reassessing their workforce strategies to address challenges such as slowing growth, high operational costs, and the rapid integration of automation and AI.

While some industries are experiencing downsizing, emerging trends such as generative AI and sustainability practices are reshaping the employment landscape.

These shifts could create new opportunities in high-demand areas, particularly for those skilled in AI and adaptable to evolving work structures.

Companies with mass layoffs in 2025

Wells Fargo mass layoffs:

Wells Fargo announced plans to lay off nearly 750 employees in Oregon, including 500 from its Hillsboro call center and 221 from its Salem office, according to Worker Adjustment and Retraining Notification notices filed Wednesday.

The closures are part of a broader consolidation effort to streamline non-customer-facing operations, with all Oregon offices expected to shut down by the end of 2025.

While Wells Fargo emphasized its commitment to serving customers through local branches, the layoffs mark a continued reduction of its Oregon workforce, which has already seen around 400 positions cut since early 2023.

Cargill mass layoffs:

Cargill, a global commodities giant, has started laying off employees as part of a plan to reduce its workforce by 5%, citing a downturn in returns from its beef, grains, and oilseeds businesses.

Rising cattle costs and uncertain demand for biofuels have pressured earnings, while low commodity prices have hurt its grains and oilseed processing divisions.

Cargill, which reported $160 billion in revenue for its 2024 fiscal year — down from $177 billion the previous year — said structural changes are part of a multi-year strategy to improve profitability.

Marriott mass layoffs:

Marriott, headquartered in Bethesda, is set to lay off 833 employees in a mass layoff effective January 3, 2025, as part of a company-wide restructuring to improve efficiency.

Marriott stated that several hundred new job openings will be created, with many affected employees encouraged to apply and potentially remain with the company.

Companies with layoffs scheduled for 2025:

• Marriott layoffs: 833 workers to be laid off (January 2025)

What companies have had mass layoffs in 2024?

Boeing mass layoffs:

As of November, Boeing laid off 2,199 workers in Washington as part of a companywide effort to reduce its workforce by 10%, or 17,000 jobs, due to financial challenges and overstaffing.

Impacted roles spanned engineers, human resources, IT, and other positions, eroding employee morale and raising concerns about future workforce sustainability.

Boeing CEO Kelly Ortberg attributed the cuts to aligning workforce levels with financial realities after a $6.2 billion Q3 loss but emphasized they were unrelated to the recent Boeing Machinists union strike.

AMD mass layoffs:

AMD announced plans to cut 4% of its global workforce, approximately 1,000 jobs, as part of a strategic shift to focus on artificial intelligence.

This move underscores the company’s efforts to compete in the lucrative AI chip market, where NVIDIA continues to dominate.

Despite shipping an estimated 224,000 GPUs this year, AMD has struggled to meet demand from major clients like Microsoft and Meta.

Volkswagen mass layoffs:

Volkswagen plans to shut three factories in Germany and lay off tens of thousands of workers as part of a major cost-cutting overhaul, marking a significant blow to the country’s industrial sector.

High labor and energy costs, weak demand in Europe and China, and stiff competition from Asian automakers have put VW under immense pressure to restructure.

The company also plans a 10% pay cut and a freeze in salaries for 2025 and 2026 to regain competitiveness, sparking fierce resistance from unions threatening strikes.

Paramount mass layoffs:

In September, Paramount Global completed 90% of its planned layoffs.

The layoffs, aimed at achieving $500 million in annual cost savings, impacted several departments, particularly in streaming and advertising.

Over 2,000 employees were let go as part of this restructuring, with hundreds more affected by September’s round.

A class action lawsuit has been filed, alleging that Paramount failed to provide the required notice to employees under New York state law.

CVS mass layoffs:

CVS Health is laying off 2,900 employees, primarily in corporate roles, as part of a $2 billion cost-saving initiative amid ongoing business challenges.

The layoffs, which represent 1% of CVS’s workforce, are driven by regulatory pressures, evolving consumer needs, and the need to stay competitive.

CVS emphasized that front-line jobs in stores, pharmacies, and distribution centers will not be affected, and impacted employees will receive severance and outplacement support.

The company plans to file a Worker Adjustment and Retraining Notification (WARN) notice in Rhode Island next week.

Warner Music Group mass layoffs:

Warner Music Group announced layoffs at Atlantic Music Group as part of its ongoing restructuring, with an estimated 150 to 175 employees affected.

High-level executives from Elektra Entertainment and Atlantic Records, including Margo Scott, Chris Brown, and Michael Kyser, are among those departing.

CEO Robert Kyncl expressed gratitude to the departing staff, acknowledging their significant contributions to the company and its artists.

Intel mass layoffs:

Intel laid off thousands of employees in July and August to cut costs and address market share losses, as reported by Bloomberg.

The move comes amid financial struggles, including a nearly 40% drop in Intel’s stock price since the beginning of 2024 and a 14% revenue decline from 2022 to 2023.

Intel, which currently employs around 110,000 people, is focusing on R&D investments to regain its standing in the semiconductor industry, where competitors like AMD have gained ground.

The layoffs are expected to fund Intel’s ambitious recovery strategy under CEO Pat Gelsinger.

Microsoft gaming mass layoffs:

Microsoft laid off 1,900 employees in its Xbox and gaming division, following a year where over 6,500 gaming industry workers lost their jobs.

Blizzard president Mike Ybarra announced his departure alongside the layoffs, expressing gratitude to affected employees for their contributions.

Microsoft Gaming CEO Phil Spencer described the cuts as “painful” but aimed at reducing overlap and positioning the company to deliver more games to players worldwide.

Layoffs in the gaming industry have been widespread, with other companies like Riot Games, Twitch, and Discord also making significant cuts this year.

GoPuff mass layoffs:

Gopuff, a fast-delivery startup, reduced its workforce by 6% on May 17, 2024, marking its fifth round of layoffs since 2022, as part of its strategy to achieve free cash flow positivity by the end of 2024.

The co-founders and co-CEOs are leading restructuring efforts to adapt to market conditions and meet investor expectations.

This move also signals potential challenges for other fast-delivery startups, impacting both their investors and workforce.

Peloton mass layoffs:

Peloton announced that CEO Barry McCarthy will step down, and the company will lay off 15% of its staff, or about 400 employees, to align spending with revenue.

McCarthy will serve as a strategic advisor while the company seeks a permanent CEO, with Karen Boone and Chris Bruzzo serving as interim co-CEOs.

This restructuring aims to reduce annual expenses by over $200 million by 2025, with significant cuts in payroll, marketing, and retail operations.

Despite the layoffs, Peloton continues to struggle financially, missing Wall Street expectations in its fiscal third-quarter results.

Walmart mass layoffs:

Walmart announced plans to cut hundreds of jobs at its headquarters and relocate most of its U.S. and Canada-based remote workforce to three main offices, with many moving to Bentonville, Arkansas.

The changes aim to strengthen Walmart’s culture and develop employees’ careers, though affected workers can choose to relocate or leave with severance.

This shift reflects Walmart’s move towards more in-person work after initially endorsing remote work during the pandemic.

Bristol Myers Squibb mass layoffs:

Bristol Myers Squibb plans to lay off 6% of its workforce, approximately 2,200 employees, as part of a restructuring aimed at saving $1.5 billion by the end of next year amid expiring patents for major drugs like Eliquis and Opdivo.

The company is also scaling back its drug development pipeline and consolidating its facilities to streamline operations and focus on high-potential products.

CEO Christopher Boerner emphasized that the cuts and portfolio adjustments are critical to bolster the company’s long-term growth, especially as it faces revenue impacts from new U.S. drug price negotiations.

These changes come as the company seeks to offset potential losses with recent acquisitions aimed at enriching its treatment pipeline, even as it undertakes significant debt to finance these deals.

Foxtrot mass layoffs:

Former employees of Foxtrot Market and Dom’s Kitchen & Market have filed a lawsuit against Outfox Hospitality, alleging the company failed to provide the legally required 60 days’ notice before abruptly closing all locations and laying off staff.

The class action lawsuit, filed in Chicago, seeks 60 days of severance pay and benefits for affected workers under federal and state Worker Adjustment and Retraining Notification Acts.

Workers, including named plaintiff Jamil Ladell Moore, were shocked to discover their employment terminated mid-shift or upon arriving for work, with no prior warning.

The sudden closures of all 33 Foxtrot and Dom’s locations across Chicago, Texas, and Washington D.C. came just six months after a company merger, leaving many employees jobless and without severance.

Tesla mass layoffs:

Tesla is laying off over 10% of its global workforce amid declining sales and a competitive price war in the electric vehicle sector.

The company aims to cut costs and boost productivity as first-quarter deliveries dropped for the first time in nearly four years.

CEO Elon Musk and other executives have acknowledged the need for reorganization to prepare for future growth.

The layoffs coincide with the departure of key leaders and follow the cancellation of a planned budget car, reflecting broader market challenges.

Amazon advertising & cloud computing mass layoffs:

Amazon’s cloud computing division, AWS, is reducing its workforce across the physical stores technology and sales and marketing departments amid a broader strategic realignment and slowing sales growth.

This follows Amazon’s decision to eliminate cashierless checkout technology in its U.S. Fresh stores, impacting teams responsible for innovations like Just Walk Out, Dash smart carts, and Amazon One palm-based payment technology.

The restructuring comes as part of Amazon’s largest-ever series of layoffs, which began at the end of 2022 and has affected over 27,000 positions across various segments, including Twitch, Audible, and Prime Video.

Phantom Auto mass layoffs:

Phantom Auto, a startup specializing in remote driving technology, is closing down after failing to secure additional funding.

Despite raising $95 million, the company faced difficulties amid a challenging fundraising environment and a shift in the autonomous vehicle industry’s momentum.

The company’s shutdown underscores the broader challenges and consolidations within the autonomous vehicle sector, highlighting the fragile nature of startups reliant on external funding for operations and growth.

U.S. Army mass layoffs:

The U.S. Army plans to eliminate around 24,000 positions, primarily vacant, to streamline its structure and improve capabilities, aiming to expand its active-duty numbers to 470,000 by 2029.

This move, part of a broader restructuring effort following a detailed force structure review, comes amid ongoing recruitment challenges, with significant shortfalls in new enlistees across the armed services in recent years.

Despite these cuts, including a reduction in engineering and various combat roles, the plan includes adding 7,500 new positions to enhance the force’s capabilities.

Vice mass layoffs:

Vice Media Group’s CEO announced layoffs of “several hundred” employees and plans to halt publishing on Vice.com, focusing on social channels and content distribution partnerships.

The company aims for a studio model, shifting away from its digital distribution strategy.

In a controversial town hall, CEO, Bruce Dixon was criticized for ending the call early due to employee reactions to the layoffs.

This move follows Vice filing for bankruptcy and being acquired by a group of lenders for $350 million.

IBM mass layoffs:

IBM is encouraging employees to volunteer for layoffs as part of a global job reduction effort, particularly targeting positions in Europe.

The initiative aligns with IBM CFO James Kavanaugh’s announcement of achieving a $3 billion annual savings goal by the end of 2024, significantly impacting Enterprise Operations & Support and Finance & Operations sectors.

Approximately half of the job cuts will affect European staff, with the company preferring voluntary redundancies to involuntary terminations.

This strategy is part of a broader workforce rebalancing aimed at enhancing productivity and aligning with in-demand skills like AI and hybrid cloud, maintaining the global workforce level through 2024.

BuzzFeed mass layoffs:

BuzzFeed has announced a 16% workforce reduction following the discounted sale of Complex Networks to Ntwrk, retaining only First We Feast.

This strategic decision, aimed at enhancing profitability and agility, comes amidst broader industry challenges, including BuzzFeed’s previous closure of its Pulitzer-winning news operation and a dramatic drop in its stock market valuation since going public.

CEO Jonah Peretti emphasizes the restructuring as a pivotal move for focusing on core brands like HuffPost and Tasty, aiming for a leaner operational model amid the digital publishing sector’s current adversities.

Nike mass layoffs:

Nike announced a reduction of 2% of its workforce, amounting to over 1,500 jobs, as part of a strategic restructuring aimed at focusing investment in growth areas.

The layoffs, to be implemented in two phases, will not affect retail or warehouse employees but are part of a broader plan to streamline operations, enhance efficiency, and adapt to a retail environment increasingly reliant on promotions.

CEO John Donahoe emphasized that this move is essential for reigniting growth and assured that affected employees would receive comprehensive support, positioning Nike to better serve athletes and the future of sport.

Salesforce mass layoffs:

Salesforce is laying off about 700 employees, approximately 1% of its global workforce, amidst a broader wave of tech industry layoffs, as reported by the Wall Street Journal.

Despite these cuts, Salesforce still has 1,000 open positions, indicating a strategic adjustment rather than a large-scale downsizing.

This follows Salesforce’s previous workforce reduction last year, where it cut jobs by 10% and closed offices, subsequently reporting increased revenue and raising its annual profit forecast.

Microsoft mass layoffs:

Microsoft laid off 1,900 employees, 8% of its gaming division, following its acquisition of Activision Blizzard.

The layoffs, part of a larger plan to reduce overlap, were announced by Microsoft Gaming CEO Phil Spencer, who emphasized support for affected employees.

Former Blizzard President Mike Ybarra and co-founder Allen Adham are also departing, with the company ceasing development of a new survival game.

Google mass layoffs:

Google has laid off hundreds of employees across various divisions, including core engineering, Google Assistant, and hardware teams responsible for products like the Pixel phone and Fitbit watches.

The layoffs, part of the company’s effort to reduce expenses and focus on artificial intelligence, follow a trend of tech job cuts seen in other major companies like Meta and Amazon.

CEO Sundar Pichai has been steering Google towards a sharper focus and cost reduction since July 2022, with the company having already conducted its largest layoff of 12,000 people in January 2023.

These recent layoffs are a continuation of Google’s organizational changes amidst a growing emphasis on generative AI.

Sports Illustrated mass layoffs:

The NewsGuild of New York and Sports Illustrated Union have filed an unfair labor practice charge against The Arena Group, alleging that the recent layoffs of around 100 people at Sports Illustrated unfairly targeted union-active employees.

The layoffs, which followed the revocation of the Sports Illustrated brand license by Authentic Brand Group, have been criticized by former CEO Ross Levinsohn, who resigned citing the board’s “abhorrent” and “feckless” actions.

This legal action comes amid accusations of union-busting tactics and negligence by The Arena Group, with some union employees immediately let go and others given 90 days’ notice.

Pixar (Disney+) mass layoffs:

Pixar, a Disney-owned animation studio, is set to undergo significant layoffs this year as part of Disney’s broader cost-cutting measures, which aim to increase efficiency and reduce streaming losses.

The layoffs, affecting employees hired for Disney+ content production, come despite Disney+ gaining 7 million new subscribers in Q4 and the success of Pixar titles like “Elemental” on the platform.

These changes reflect Disney’s strategy to streamline operations and focus on profitability in streaming, amidst industry-wide shifts in audience preferences and content delivery methods.

Universal Music Group mass layoffs:

Universal Music Group NV, the world’s largest record company with roughly 11,000 employees and known for artists like Taylor Swift and Drake, plans to cut hundreds of jobs in its recorded music division, which is its largest, as part of a broader industry trend of slowing sales despite previous growth from paid streaming services.

CEO Lucian Grainge is focusing on cost-cutting measures, including “cut to grow” initiatives, to improve profit margins while continuing to invest in new growth areas like geographic expansion and direct-to-consumer sales.

These layoffs are part of a wider retrenchment in the media and technology industries, with companies like Amazon and Warner Music Group also announcing job cuts.

Amazon Twitch mass layoffs:

Twitch has confirmed laying off more than 500 employees, approximately a third of its workforce, marking the second major layoff in less than a year after 400 jobs were cut in March 2023.

CEO Daniel Clancy stated that despite cost-cutting efforts, the organization remains larger than necessary for its current business size, with the company having optimistically sized itself for future growth.

This decision follows a trend of significant layoffs in the tech and gaming sectors, including cuts by Twitch’s parent company, Amazon, though Twitch streamers will not be directly affected by these changes.

BlackRock mass layoffs:

BlackRock Inc. is set to lay off about 600 employees, approximately 3% of its global workforce, to adapt to rapid changes in the asset management industry and reallocate resources.

The company is shifting focus towards ETFs, global expansion, and new technologies, aiming to transform into a comprehensive investment solution provider while also growing in alternative investments.

Despite these cuts, BlackRock, which faced challenges like market declines and investor skittishness over higher interest rates, still plans to increase its overall staff count by the end of the year as it expands certain business areas.

Companies with layoffs in 2024:

• Wells Fargo layoffs: ~700 jobs cut (December 2024)
• Cargill layoffs: 5% of workforce (December 2024)
• Boeing layoffs: 10% of workforce laid off (November 2024)
• AMD layoffs: 4% of workforce laid off (November 2024)
• Volkswagen layoffs: Thousands of jobs cut (October 2024)
• CVS layoffs: 1% of workforce laid off (October 2024)
• Paramount US Layoffs: 15% of workforce laid off (September 2024)
• Warner Music Group layoffs: 4% of workforce laid off (September 2024)
• Apple digital services layoffs: 100 jobs cut (August 2024)​
• Paramount Global layoffs: Several hundred workers laid off (August 2024)​
• Qoo10 layoffs: 80% of workforce laid off (August 2024)​
• Twitch layoffs: 33% of workforce laid off (July 2024)​
• FibroGen layoffs: 75% of U.S. staff laid off (July 2024)​
• Intel layoffs: 15% of workforce laid off (July 2024)​
• RealPage layoffs: 4% of workforce laid off (June 2024)​
• Microsoft gaming layoffs: 8% of workforce laid off (June 2024)​
• GoPuff layoffs: 6% of workforce laid off (May 2024)
• Vacasa layoffs: 13% of workforce laid off (May 2024)
• Peloton layoffs: 15% of workforce laid off (May 2024)
• Luminar layoffs: 20% of workforce laid off (May 2024)
• Motional layoffs: 40% of workforce laid off (May 2024)
• Indeed layoffs: 8% of workforce laid off (May 2024)
• Walmart layoffs: several hundred workers laid off (May 2024)
• Bristol Myers Squibb layoffs: 6% of workforce laid off (April 2024)
• Lululemon layoffs: 128 employees laid off (April 2024)
• Brevan Howard Asset Management layoffs: ~9% of employees laid off (April 2024)
• AI startup Stability layoffs: 10% of workforce laid off (April 2024)
• Meow Wolf layoffs: 165 employees laid off (April 2024)
• Take-Two Interactive layoffs: 5% of workforce laid off (April 2024)
• Disney Marvel Entertainment & Marvel Studios layoffs: 15 employees laid off (April 2024)
• Tesla layoffs: 10% of workforce laid off (April 2024)
• McKinsey layoffs: 3% of workforce laid off (April 2024)
• Neutrogena layoffs: 84 workforce laid off (April 2024)
• Spirit Airlines layoffs: 260 pilots furloughed (April 2024)
• Best Buy layoffs: Some employees laid off (April 2024)
• Amylyx Pharmaceuticals layoffs: 70% of workforce laid off (April 2024)
• Apple layoffs: At least 600 employees laid off (April 2024)
• Amazon advertising & cloud computing layoffs: (April 2024)
• Lands’ End layoffs: 10% of corporate workforce laid off (March 2024)
• Stellantis North America layoffs: 400 employees laid off (March 2024)
• Unilever layoffs: 7,500 employees laid off (March 2024)
• Phantom Auto layoffs: 100% of workforce laid off (March 2024)
• Deadspin layoffs: 100% of workforce laid off (March 2024)
• Enthusiast Gaming layoffs: 25% of workforce laid off (March 2024)
• Fidelity layoffs: 700 employees laid off (March 2024)
• Fisker layoffs: 15% of workforce laid off (February 2024)
• The Container Store layoffs: 2.5% of workforce laid off (February 2024)
• Electronic Arts layoffs: 5% of workforce laid off (February 2024)
• Bumble layoffs: 37% of workforce laid off (February 2024)
• The U.S. Army layoffs: 5% of workforce laid off (February 2024)
• Sony Playstation layoffs: 900 employees laid of (February 2024)
• Expedia layoffs: 9% of workforce laid off (February 2024)
• DCist layoffss: 15 employees laid off (February 2024)
• NowThis News layoffs: 50% of union-represented employees laid off (February 2024)
• Nickelodeon Noggin layoffs: 800 employees laid off (February 2024)
• Morgan Stanley layoffs: hundreds of employees laid of (February 2024)
• SiriusXM layoffs: 2% of workforce laid off (February 2024)
• Grammarly layoffs: 16% of workforce laid off (February 2024)
• Warner Music layoffs: 10% of workforce laid off (February 2024)
• Amazon Pharmacy layoffs: ~300 employees laid off (February 2024)
• CNN This Morning Show layoffs: 50 employees laid off (February 2024)
• Snap layoffs: 10% of workforce laid off (February 2024)
• Zoom layoffs: 2% of workforce laid off (February 2024)
• Okta layoffs: 7% of workforce laid off (February 2024)
• IBM layoffs: unknown % of workforce pending lay offs (February 2024)
• Rivian layoffs: 10% of workforce laid off (February 2024)
• BuzzFeed layoffs: 16% of workforce laid off (February 2024)
• Nike layoffs: 2% of workforce laid off (February 2024)
• Vice Media layoffs: several hundred jobs laid off (February 2024)
• Toast layoffs: 10% of workforce laid off (February 2024)
• Cisco Systems layoffs: 5% of workforce laid off (February 2024)
• Continental layoffs: 3% of workforce laid off (February 2024)
• Instacart layoffs: 7% of workforce laid off (February 2024)
• Paramount Global layoffs: 3% of workforce laid off (February 2024)
• Snapchat layoffs: 10% of workforce laid off (February 2024)
• DocuSign layoffs: 6% of workforce laid off (February 2024)
• Estee Lauder layoffs: 3-5% of workforce laid off (February 2024)
• PayPal layoffs: 9% of workforce laid off (February 2024)
• Deutsche Bank layoffs: 4% of workforce laid off (February 2024)
• UPS layoffs: ∼2% of workforce laid off (February 2024)
• YouTube layoffs: 43 workers laid off (February 2024)
• Spotify layoffs: 17% of workforce laid off (February 2024)
• Washington Post layoffs: 7% of workforce laid off (January 2024)
• Block (Square) layoffs: 10% of workforce laid off (January 2024)
• SolarEdge layoffs: ∼16% of workforce laid off (January 2024)
• Macy’s layoffs: 13% of corporate workforce + 5 stores closing (January 2024)
• iRobot layoffs: 31% of workforce laid off (January 2024)
• Jamf layoffs: 6% of workforce laid off (January 2024)
• Salesforce layoffs: 1% of workforce laid off (January 2024)
• Paramount layoffs: Unspecified amount of workforce laid off (January 2024)
• Business Insider layoffs: 8% of workforce laid off (January 2024)
• TIME magazine layoffs: 15% of editorial staff laid off (January 2024)
• SAP layoffs: 7% of workforce laid off (January 2024)
• Vroom layoffs: 90% of workforce laid off (January 2024)
• The Los Angeles Times layoffs: 20% of newsroom staff laid off (January 2024)
• Brex layoffs: 20% of workforce laid off (January 2024)
• X (Alphabet’s moonshot lab) layoffs: Undisclosed dozens of jobs laid off (January 2024)
• Citigroup layoffs: 8% of workforce laid off (January 2024)
• Prime Video & MGM Studios layoffs: undisclosed hundreds of workforce laid off (January 2024)
• Macy’s layoffs: 3% of workforce laid off (January 2024)
• Wayfair layoffs: 13% of workforce laid off (January 2024)
• Riot Games layoffs: 11% of workforce laid off (January 2024)
• TikTok layoffs: <1% of workforce laid off (January 2024)
• Microsoft layoffs: 8% of workforce laid off (January 2024)
• Levi Strauss & Co. (Levi’s) layoffs: 10%-15% of workforce laid off (January 2024)
• REI layoffs: 2% of workforce laid off (January 2024)
• eBay layofffs: 9% of workforce laid off (January 2024)
• Sports Illustrated layoffs: <1% of workforce laid off (January 2024)
• Discord layoffs: 15% of workforce laid off (January 2024)
• Amazon Audible layoffs: 5% of workforce laid off (January 2024)
• Pixar (Disney+) layoffs: <20% of workforce layoffs announced (January 2024)
• NBC News layoffs: 1-3% of workforce layoffs (January 2024)
• CitiGroup layoffs: 8% of workforce layoffs announced (January 2024)
• Universal Music Group NV layoffs: Hundreds to be laid off (January 2024)
• Google layoffs: <1% of workforce laid off (January 2024)
• Amazon Twitch layoffs: 35% of workforce laid off (January 2024)
• Treasure Financial layoffs: 60-70% of workforce laid off (January 2024)
• Duolingo layoffs: 10% of contractor workforce laid off (January 2024)
• Sharpie & Rubbermaid (Newell) layoffs: 7% of workforce laid off (January 2024)
• Rent the Runway layoffs: 10% of corporate roles cut (Early 2024)
• Unity layoffs: 25% of workforce laid off (January 2024)
• Blackrock layoffs: 3% of global workforce laid off (January 2024)
• Pitch layoffs: Two-thirds of employees laid off (January 2024)
• BenchSci layoffs: 17% of workforce laid off (January 2024)
• Flexe layoffs: 38% of staff eliminated (January 2024)
• NuScale layoffs: 28% of staff laid off (January 2024)
• Trigo layoffs: 15% of workforce laid off (January 2024)
• Xerox layoffs: 15% of workforce laid off (January 2024)
• InVision shutdown: Entire company by end of 2024 (January 2024)
• VideoAmp layoffs: Nearly 20% of workforce laid off (January 2024)
• Orca Security layoffs: Roughly 15% of staff laid off (January 2024)
• Frontdesk layoffs: Entire 200-person workforce laid off (January 2024)

What companies had mass layoffs in 2023?

Hasbro mass layoffs:

Hasbro, facing a prolonged slump in toy sales, is cutting nearly 20% of its workforce, with CEO Chris Cocks announcing the layoff of 1,100 employees, adding to the 800 jobs already eliminated earlier this year.

These layoffs, a response to persistent market challenges and declining toy sales post-pandemic, will occur over the next six months, as the company also plans to sell its eOne film and TV business and reduce its office footprint.

Despite these measures, Hasbro’s shares fell more than 4% in after-hours trading, contrasting with competitor Mattel’s optimistic outlook bolstered by the success of the “Barbie” movie.

State Street mass layoffs:

Boston-based financial services company State Street is laying off approximately 1,500 employees, a move announced by Vice Chairman and Chief Financial Officer Eric Aboaf and expected to cost between $175 million and $200 million in severance.

The company, which manages trillions in assets and had 42,000 employees as of September 30, is streamlining its organization for long-term success, despite not specifying if the layoffs will affect its Massachusetts workers.

This downsizing aligns with a broader trend in the banking sector, as reported by Reuters, with firms like Morgan Stanley and Bank of America also reducing their workforce due to economic challenges and interest rate hikes.

Zulily mass layoffs:

Zulily, a Seattle-based online retailer, has conducted its second round of layoffs within a year, as it and its parent company Qurate face declining revenues.

The company, which previously laid off staff in May and closed a Pennsylvania fulfillment center, is experiencing a significant drop in revenue, with a 28% decrease in the fourth quarter and a 38% annual decline.

These layoffs come amidst a broader trend of slowing e-commerce growth post-pandemic and are part of Qurate’s broader strategy to cut costs, including a 12% reduction in its workforce.

Stellantis (Jeep parent company) mass layoffs:

Stellantis plans to cut thousands of jobs at its Jeep plants in Detroit and Toledo, citing California’s stringent emissions regulations as a competitive disadvantage.

The company will reduce shifts at both plants, affecting over 3,600 workers, due to declining Jeep sales and a shift to a traditional two-shift operation.

Stellantis has been resisting carbon emission reduction efforts, arguing it could lead to substantial fines.

Amidst industry-wide cost-cutting and restructuring, Stellantis, slow in transitioning to EVs, blames the transition and regulatory challenges for the layoffs.

Spotify mass layoffs:

Spotify, the Swedish music streaming giant, is cutting 17% of its workforce, amounting to about 1,500 jobs, as part of a cost-reduction strategy.

CEO Daniel Ek emphasized the need for the company to become more resourceful and lean, following over-hiring during 2020 and 2021.

This layoff is the third in 2023, in a tech industry that has seen over 250,000 job cuts this year.

Despite these reductions and a shift in strategy towards audiobooks and podcasting, Spotify has struggled to turn a profit and is offering departing employees severance packages including five months’ pay and additional support.

Bill mass layoffs:

Silicon Valley’s Bill, a payment management company, has cut nearly 400 employees, about 15% of its staff, as part of a major restructuring aimed at improving profitability and reducing dependence on interest-rate sensitive revenue.

CEO René Lacerte explained that the layoffs, which include closing the Sydney office and consolidating resources in San Jose and Houston, are necessary to focus on key priorities.

Affected employees will receive severance packages including four months’ pay, health benefits, a half-year bonus, equity vesting, and immigration support, amidst a broader trend of layoffs in the tech sector.

ByteDance (TikTok parent company) mass layoffs:

ByteDance, the parent company of TikTok, is scaling back its gaming unit Nuverse after two years of lukewarm performance, despite it being one of the firm’s six core business units and a rival to Tencent and NetEase.

The decision to restructure and initiate mass layoffs, starting Monday, has left many Nuverse employees uncertain about their future, especially since the total number of layoffs has not been announced.

This comes after significant investments, including a $4 billion acquisition of a Shanghai studio.

Amazon mass layoffs:

In January, Amazon CEO Andy Jassy announced plans to cut 18,000 jobs worldwide, focusing on corporate and technology roles as part of a broader consolidation strategy.

This move, initially revealed in November 2022, began with layoffs constituting approximately 1% of the global workforce, or 3% of corporate staff.

In late April 2023, further layoffs occurred within Amazon Web Services (AWS).

Most recently, in November 2023, Amazon further reduced its workforce by cutting 180 employees from its gaming division.

Jezebel mass layoffs:

Jezebel, a prominent feminist blog, is suspending operations and laying off its staff as part of a broader restructuring by parent company G/O Media, announced CEO Jim Spanfeller.

Despite efforts to sell the publication and discussions with potential buyers, a new home for Jezebel couldn’t be secured.

This suspension, part of a wider industry trend of cutbacks amidst a challenging advertising climate, will result in 23 editorial staff positions being cut.

Dish Network mass layoffs:

Dish Network, based in Englewood, Colorado, is laying off over 500 employees due to evolving business needs and a strategic move for long-term success.

The layoffs come as the company faces a revenue dip to $3.7 billion and a loss of $139 million in Q3 of 2023. Employees affected by the restructuring will be notified within the week.

Dish, with a U.S. workforce exceeding 14,000, has not disclosed how many are Colorado-based.

Charles Schwab mass layoffs:

Charles Schwab has laid off about 5-6% of its workforce, roughly 2,000 individuals, amid efforts to cut costs and stay competitive.

These measures, part of a $500 million cost-cutting initiative announced in summer, largely target non-client-facing areas.

The exact number of layoffs wasn’t disclosed, but as of September 30, 2023, Schwab had 35,900 employees.

Splunk mass layoffs:

Cybersecurity firm, Splunk announced a layoff of roughly 7% of its global workforce, translating to about 500 employees, amid its upcoming acquisition by Cisco.

This comes after an earlier layoff of 300 employees in 2023, although CEO Gary Steele clarified that these decisions aren’t related to the Cisco deal.

Most affected employees are based in the U.S. and are expected to receive unspecified severance and healthcare packages.

The company, facing around $42 million in restructuring costs, remains tight-lipped on which teams will be impacted or the exact timing of the layoffs.

Bullhorn mass layoffs:

Bullhorn, a major player in the staffing industry, has announced a 9% workforce reduction, affecting roughly 144 of its 1,600 employees due to a downturn in the sector.

The company’s CEO, Art Papas, conveyed that while they had hoped to avoid layoffs, the staffing industry’s slowing growth post-pandemic necessitated the move.

Papas acknowledged the pain of parting with talented employees and assured that generous transition packages are in place to aid those affected.

Google (Alphabet) mass layoffs:

In January of, Alphabet, the parent company of Google sent a memo written by chief executive, Sundar Pichai announcing that 12,000 employees — roughly 6% of the global workforce — would be laid off.

In response to Google’s mass layoffs, workers in London offices staged a walkout in early April.

Then in September, several outlets reported that Google laid off “hundreds” of recruiters from the company followed by dozens of jobs in its news devision including a significant number of director positions in October.

Nokia mass layoffs:

Nokia, the Finnish telecom giant, announced plans to cut between 9,000 and 14,000 jobs by 2026, affecting up to 16% of its 86,000-strong global workforce, in response to a significant drop in profits and product demand.

This decision follows a disappointing third quarter in which sales decreased by 20% from the previous year, leading to a 70% profit decline.

Nokia CEO Pekka Lundmark stated the cuts aim to ensure long-term profitability and competitiveness amid market uncertainties, with plans to save $424m in 2024 and $318m in 2025.

Geico mass layoffs:

In October, Geico is cuts 6% of its national workforce, impacting approximately 2,000 employees, including 5.5% in Western New York, as revealed in a letter from CEO Todd Combs.

The decision aims to bolster long-term profitability and growth.

Affected employees will be notified on Thursday, with support including career coaching and resume assistance.

Unaffected staff will have mandated in-office days starting January 1, 2024, differing from recent remote work trends.

LinkedIn mass layoffs:

On October 16, LinkedIn announced it would lay off 668 employees from its engineering, talent, and finance teams due to slowing revenue growth, marking its second round of job cuts this year.

This reduction, affecting over 3% of its 20,000 employees, contributes to the significant job losses in the tech sector amidst an uncertain economic landscape.

Despite the cuts, LinkedIn reaffirms its commitment to investing in strategic priorities for future growth, aiming to continue delivering value for its members and customers.

Qualtrics mass layoffs:

Qualtrics is laying off 780 employees, which is about 14% of its workforce, to address organizational complexities brought on by rapid hiring, as revealed by an internal memo from CEO Zig Serafin.

The experience-management software company, with a pre-cut headcount of 5,500, aims to enhance collaboration and decision-making processes through this restructuring.

Besides the layoffs, several roles will be shifted or relocated over the next year, impacting every team within the company as per Serafin’s memo.

This move follows a pattern of tech companies reducing staff in recent years, amidst industry downturns post a pandemic-driven software boom.

Washington Post mass layoffs:

The Washington Post revealed plans to offer voluntary buyouts aiming to reduce staff by 240, prompted by a realization of overly optimistic revenue projections in recent years.

Interim CEO Patty Stonesifer conveyed the goal to improve the company’s financial health in the coming year.

This move follows a previous staff reduction nine months ago and aims to prevent harsher measures like layoffs, striving for a stronger position in 2024.

Despite past expansions, this decision underscores a shift in resource allocation to meet customer needs amidst critiques from the Washington Post Guild regarding the company’s business decisions.

Stitch Fix mass layoffs:

Since January, Stitch Fix has undergone two rounds of layoffs. The first round accounted for 15% of salaried positions, primarily in corporate and styling leadership, impacting about 330 individuals or roughly 4% of the total workforce.

This move followed a slowdown in revenue growth as the pandemic receded and consumers shifted their spending to physical stores, which also led to a 55% drop in the company’s stock value.

Now, a second round of layoffs is due to commence on December 1, with a phased approach set to continue through April 2024, marking the closure of their distribution center as per the notice filed with the Texas Workforce Commission.

This signifies an end to Stitch Fix’s operations in Dallas.

Epic Games mass layoffs:

Epic Games is laying off approximately 830 employees, equating to 16% of its workforce, due to financial instability, despite growing success with Fortnite’s creator ecosystem, which has garnered lower margins.

The company is divesting from Bandcamp, which is being acquired by Songtradr, and spinning off most of SuperAwesome, with its advertising business becoming an independent entity.

Epic is offering substantial severance packages to laid-off employees, including six months of base pay and healthcare coverage, among other benefits.

Meanwhile, core business ventures remain unaffected, with crucial projects like the next Fortnite Season and Fortnite Chapter 5 proceeding as scheduled as Epic continues to reshape its financial structure to aim for profitability and metamorphose into a leading metaverse company.

Talkdesk mass layoffs:

Talkdesk, a software company once valued at $10 billion, has undergone its third round of layoffs since last year.

While the exact number of affected employees remains undisclosed, the company had previously laid off up to 200 people in August 2022 and reduced its workforce again in early January.

CEO Tiago Paiva stated that despite the reductions, the company’s advancements in AI position them for continued innovation and they will still hire in “strategic areas.”

This move follows a trend in the tech sector, with several other software companies also announcing workforce reductions recently.

CVS mass layoffs:

CVS Health is set to eliminate approximately 5,000 non-customer-facing roles, less than 2% of its 300,000 employees, as part of a cost-cutting measure emphasizing healthcare services.

Those affected will receive severance, benefits, and outplacement services. Subsequent layoffs included over 500 employees in Connecticut, 157 in SoHo, and 140 in Massachusetts.

Despite being one of the nation’s largest drugstore brands with nearly 10,000 stores, CVS continues its corporate downsizing, impacting its corporate offices across various locations.

WWE mass layoffs:

World Wrestling Entertainment (WWE) recently streamlined its workforce, cutting over 100 positions after merging with UFC to form TKO Holdings.

Duplicate positions within WWE and its parent company, Endeavor Group Holdings, were eliminated.

WWE President Nick Khan mentioned that these workforce reductions are part of their transition into TKO Group Holdings.

Among those departing is WWE’s Executive Vice President of Development and Digital, Jamie Horowitz, who will join Omaha production, known for its “ManningCast.”

Vince McMahon, WWE’s owner, is rumored to return to the network to aid in media rights negotiations.

General Motors (GM) mass layoffs:

General Motors and Stellantis announced layoffs due to ongoing UAW strikes at three facilities.

GM laid off 2,000 workers in Kansas, and Stellantis laid off 68 in Ohio with the potential for 300 layoffs in Indiana.

As the strike continues, UAW warns more workers might join if negotiations don’t progress, with current demands including a mid-30s percentage pay raise.

Cisco mass layoffs:

After laying off 5% of its total workforce in December of 2022, Cisco notified employees in July that it would be laying off an additional 350 employees throughout Silicon Valley.

These employees comprised of mostly software engineering technical leaders, software engineers, project managers, and executive assistants were given the choice of leaving Cisco on either August 31 or October 16.

Airtable mass layoffs:

Airtable, a unicorn company valued at $11.7 billion, is laying off 237 employees, 27% of its workforce, as part of a strategy to target large enterprise clients and control spending.

CEO Howie Liu admits to getting caught in a post-COVID hiring spree, emphasizing the need for efficient growth and a more mature business approach.

The company, founded in 2013, aims to shift its focus from smaller clients to securing larger deals with customers having million-dollar-plus spend rates.

Grindr mass layoffs:

Grindr, the LGBTQ+ dating app, recently mandated its all-remote staff to commit to working from an office two days a week or face termination.

Since a return to office would mean many Grindr employees would have to move to Los Angeles, San Fransico, or Chicago, the policy resulted in 46% of the staff being let go after they declined the mandate, significantly impacting Grindr’s queer-friendly workplace culture.

Barstool Sports mass layoffs:

About 25% of Barstool Sports’ workforce will face layoffs, as reported by the New York Post.

Founder Dave Portnoy, who recently reacquired the site, expressed his aversion to firing people but emphasized the necessity of the move due to financial challenges.

Portnoy had previously sold Barstool Sports to Penn Entertainment only to repurchase it later, now owning 100% of the company.

He remains optimistic about the company’s future, vowing never to sell it again.

T-Mobile mass layoffs:

T-Mobile is cutting nearly 7% of its workforce, impacting around 5,000 corporate and tech roles, while retail and customer care positions remain untouched.

Despite promises of job growth after its 2020 Sprint merger, T-Mobile had a net decrease in employees by the end of that year.

CEO Mike Sievert cites the need to adapt to rising customer acquisition costs, and while no further company-wide layoffs are anticipated, affected employees will receive severance and a minimum of 60 days of transitional leave.

Salesforce mass layoffs:

Salesforce CEO Marc Benioff announced on January 4th that the B2B software company would be cutting 7,000 jobs, approximately 10% of its workforce, over the coming weeks.

Then, in August, the international company continued its job cuts in Ireland, part of a larger plan to prioritize profitability following a 10% reduction earlier this year.

This time, around 50 roles were impacted, separate from the initial companywide reduction.

The company aims to significantly reduce its headcount by the end of fiscal 2024 amidst a shift in focus towards margin expansion, echoing a trend of job cuts in other tech companies like Microsoft and Amazon.

Master Lock mass layoffs:

In late August, Master Lock informed the Wisconsin Department of Workforce Development of its plans to begin layoffs at its Milwaukee Manufacturing plant beginning in November and continuing until its closure in March 2024.

The decision to shut down, after over a century of operation since its foundation in 1921, will result in 325 — about 4% of employees — permanent layoffs.

The company emphasizes that the closure is a business decision and will collaborate with UAW Local 469 for a smooth transition for the affected employees.

Intel mass layoffs:

Intel is set to lay off over 300 employees in California, spanning roles in GPU software development, cloud computing, and AI, as part of its cost-cutting initiatives.

These layoffs come after Intel CEO Pat Gelsinger announced a significant spending reduction plan last year due to a demand slowdown, aiming for a company-wide transformation.

The affected positions include GPU software engineers, AI software engineers, cloud solution architects, and several managerial roles, with the layoffs impacting Intel’s Santa Clara headquarters, Folsom, and San Jose locations.

Tyson Foods mass layoffs:

Tyson Foods plans to close four plants nationwide, resulting in the loss of around 2,200 jobs.

Employees were informed in accordance with the WARN Act’s 60-day notice requirement for large-scale layoffs.

The company is making these significant cuts as part of its restructuring.

Yellow mass layoffs:

Yellow, a prominent U.S. trucking company with a 99-year history, has announced its closure due to financial struggles exacerbated by debt from numerous mergers and disputes with the Teamsters union.

The shutdown impacts nearly 30,000 jobs, including approximately 22,000 Teamsters members, and hundreds of nonunion employees were laid off as the company ceased accepting new shipments.

Despite the significant loss of jobs and revenue, the impact on the trucking industry is expected to be limited as many customers had already shifted their cargo to rival companies.

Anheuser-Busch mass layoffs:

Anheuser-Busch announced that it plans to lay off around 380 positions in its US corporate staff as it undergoes restructuring. The layoffs, affecting about 2% of the US employee population, will not include frontline staff.

The decision comes after Modelo Especial, brewed by Constellation Brands, surpassed Bud Light as the top-selling beer in the US for the second consecutive month.

Anheuser-Busch CEO, Brendan Whitworth, stated that the move was challenging but necessary to ensure long-term success for the organization.

Binance mass layoffs:

Amid a U.S. federal investigation, Binance, a leading crypto exchange, has been significantly reducing its workforce, with over 1,000 of its total 8,000 employees already dismissed in the U.S. and India.

The layoffs, which have affected customer-service workers heavily and are ongoing, could result in the company losing more than a third of its staff.

Microsoft mass layoffs:

In a memo sent to employees on January 18th, Microsoft CEO Satya Nadella announced that the company is making changes that will result in 10,000 jobs being eliminated through the end of March.

Then in July, it was announced that an additional 276 employees would be let go primarily in customer service, support, and sales, according to GeekWire which reported these layoffs first.

Niantic mass layoffs

Niantic, the creator of Pokémon GO, has laid off 230 employees, marking its second round of layoffs in a year.

The company is also discontinuing several projects, including NBA All-World and a Marvel-based game, following last year’s cancellation of four projects.

CEO John Hanke attributed the layoffs to a return to pre-pandemic revenue levels and underperforming new projects.

Disney / ESPN mass layoffs:

According to reports in May, the anticipated third and potentially final round of significant job reductions will commence before Memorial Day, impacting approximately 2,500 positions across the board.

These latest layoffs come after Disney CEO Bob Iger announced on February 8, 2023, that they planned to cut 7,000 jobs, representing more than 3% of its global workforce.

After Disney’s second round of layoffs in April totaling 4,000 jobs largely affecting ESPN divisions, the latest round began at the start of July affecting many well-known, and beloved on-air ESPN personalities.

Ford mass layoffs:

Ford Motor Company is reportedly preparing to lay off at least 1,000 salaried and contract employees, according to insiders who spoke to the Wall Street Journal.

The layoffs at Ford are expected to primarily affect the company’s software division, as well as its gas-powered and electric vehicle manufacturing sectors in an effort to align its staffing around “skills and expertise,” which would include hiring in key areas.

Uber mass layoffs:

In an internal memo, Uber recently announced that roughly 35% of its recruitment team — equalling roughly 200 recruiters — is set to experience layoffs in the near future as part of a company-wide restructuring.

The well-known on-demand ride service has made this decision to cut costs in response to the current economic conditions. This comes after the company has already reduced its recruitment staff through several smaller rounds of layoffs across various departments.

Spotify mass layoffs:

Spotify is laying off approximately 200 employees, about 2% of its workforce, in a strategic shift to better support its partnerships with global podcasters.

The decision, announced by Vice President Sahar Elhabashi, will affect employees in various locations, with those impacted receiving “generous severance packages.”

This move is part of Spotify’s broader effort to enhance its podcast unit, on which it has spent over $526 million since 2020 on acquisitions and high-profile sponsorships with figures like Meghan, Duchess of Sussex, and online personality Joe Rogan.

Rolls Royce mass layoffs:

Rolls Royce is reportedly considering significant layoffs that could result in around 3,000 job losses, based on expert advice.

These layoffs come as a result of the latest Rolls Royce plan to streamline its operations. As part of this strategy, Rolls Royce is also reportedly considering consolidating its non-manufacturing departments across its civil aerospace, defense, and power systems divisions.

The report suggests that the layoffs at Rolls Royce could predominantly affect its non-manufacturing sector, potentially leaving around 6% of its global workforce unemployed.

JPMorgan Chase mass layoffs:

JPMorgan Chase announced in late May that it would eliminate approximately 500 roles before the end of the month, primarily in the technology and operations sectors.

These layoffs come at a time when the bank currently has around 13,000 job vacancies as JPMorgan Chase occasionally reduces its workforce throughout the year, even while recruiting thousands of additional employees for various roles.

Meta (Facebook) mass layoffs:

As of May 25th, Meta’s latest round of layoffs that could affect around 6,000 of its employees has commenced.

This comes on the heels of April’s layoffs that included 4,000 employees across multiple different platforms including Facebook, Instagram, and WhatsApp.

Prior to April’s cuts, it was confirmed in an early March announcement that Meta would be conducting a second round of layoffs that would potentially affect 10,000.

This second round of layoffs came after Meta’s first mass layoff in its 18-year history in November of 2022 which affected 11,000 employees.

Equating to roughly 13% of the Meta workforce, this latest round of layoffs is an attempt to support Meta CEO, Mark Zuckerberg’s proposed, “Year of Efficiency.”

Reasons for these layoffs point to decreasing demand as compared to pandemic peaks that resulted in the building of a large fulfillment arm of the company.

3M mass layoffs:

As a recession in the manufacturing industry looms near, the multinational conglomerate, news broke on April 25th that multinational conglomerate, 3M would begin mass layoffs of 6,000 of its global workforce.

These layoffs come as part of an internal restructuring of the company noting that these layoffs are expected to save 3M an estimated $900 million a year before taxes.

David’s Bridal mass layoffs:

Amidst rumors of a potential bankruptcy or sale, David’s Bridal announced it will lay off 9,236 employees across the United States.

According to the Wall Street Journal, David’s Bridal employs roughly 11,000 workers which would mean these layoffs account for more than 80% of its total workforce.

The layoffs are set to begin in spring and continue through the end of the summer.

Zoom mass layoffs:

Zoom CEO Eric Yuan announced layoffs of 1,300 employees, or 15% of its workforce, in an email on Tuesday, February 7th. As part of that announcement, Yuan said he will also reduce his salary by 98% this year, while other executives will see a 20% cut.

These layoffs will impact every department within the company, and laid-off employees are said to be receiving up to 16 weeks’ salary and healthcare coverage as severance.

Dell mass layoffs:

Due largely to the rapid reduction in the demand for PCs, as evidenced by a 37% decline in PC shipments in Q4 of 2022, computer manufacturer, Dell announced on February 6th it will be laying off 6,500 people from its workforce

At 5% of its global workforce, these layoffs come as another cost-cutting measure in addition to hiring freezes and travel restrictions the company had already put into place.

PayPal mass layoffs:

PayPal closed out January by announcing that it would be laying off 2,000 employees, making up roughly 7% of its workforce.

The layoffs, scheduled to take place over the first few weeks of February, come as a result of the company’s attempts to “right-size” its cost structure, and focus its resources on its “core strategic priorities,” according to the statement made by PayPal President, Dan Schulman.

IBM mass layoffs:

IBM announced on Wednesday, January 25th that it will be cutting roughly 3,900 positions, or 1.5% of its global workforce, as a result of the previously announced spinoff and sale of two business units.

This move is expected to cost the company around $300 million this quarter making IBM the latest tech giant to make significant cuts to its workforce.

Twitter mass layoffs:

On Friday, November 4th, 2022 Twitter laid off 3,700 employees — nearly half of its global employees — in its first round of mass layoffs.

Twitter’s mass layoff affected many departments, including the content moderation teams, sales, and advertising departments, and engineering & development divisions.

Twitter’s mass layoff of nearly 50% of its workforce was the largest mass layoff of 2022 by a tech company.

In a second round of mass layoffs, 200 — roughly 10% — of Twitter’s remaining workforce was laid off late in February of 2023, since then, leaving Twitter sued for mass layoffs.

Spotify mass layoffs:

The latest in a slew of tech company mass layoffs in January, Spotify announced that it would be letting go of 6% of its global workforce.

In the message sent to employees that was also posted online, CEO Daniel Ek announced changes to high-level management and cited the need for speed and efficiency as some of the driving forces behind these “organizational changes.”

With roughly 6,600 global employees the 6% layoffs would account for roughly 400 of Spotify workers.

DirecTV mass layoffs:

DirecTV announced that it would be laying off 10% of its management which accounts for about half of its total workforce. In a memo sent on January 6th employees were made aware of the layoffs and reports say that the affected workers’ last day is January 20th.

After losing roughly 400,000 subscribers in Q3 of 2022, DirecTV continues to struggle to keep up with streaming entertainment services.

“The entire pay-TV industry is impacted by the secular decline and the increasing rates to secure and distribute programming,” a DirecTV rep said in a statement. “We’re adjusting our operations costs to align with these changes and will continue to invest in new entertainment products and service enhancements.”

Vimeo mass layoffs:

Popular video-hosting platform Vimeo plans to lay off 11% of their employees in January. This round of layoffs is on top of the 6% laid off in Juley, 2022.

CEO Anjali Sud stated the staff layoffs were necessary to give the company “financial flexibility,” while also noting “It is also the right thing to do to enable Vimeo to be a more focused and successful company, operating with the necessary discipline in an uncertain economic environment.”

Companies with layoffs in 2023:

• Nu Skin layoffs: 5% of workforce laid off (December 2023)
• Hasbro layoffs: 20% of workforce laid off (December 2023)
• State Street layoffs: 3% of workforce laid off (December 2023)
• Zulily layoffs: 12% of workforce laid off (December 2023)
• Twillio layoffs: 5% of workforce ladi off (December 2023)
• Tidal layoffs: 10% of workforce laid off (December 2023)
• Moonbug Entertainment layoffs: 5% of workforce laid off (December 2023)
• Stellantis layoffs: 1% of workforce laid off (December 2023)
• Spotify layoffs: 17% of workforce laid off (December, 2023)
• Bill layoffs: 15% of workforce laid off (December, 2023)
• ByteDance mass layoffs: undisclosed number laid off (November 2023)
• Jezebel mass layoffs: 100% of workforce laid off (November 2023)
• Dish Network mass layoffs: 3.5% of workforce laid off (November 2023)
• Charles Schwab mass layoffs: 5-6% of workforce laid off (November 2023)
• Starz layoffs: >10% of workforce laid off (November 2023)
• Siemens Healthineers mass layoffs: 1% of workforce laid off (November 2023)
• Stroock & Stroock & Lavan mass layoffs: 27% of workforce laid off (November 2023)
• Shipt mass layoffs: 3.5% of workforce laid off (November 2023)
• Shell mass layoffs: .2% of workforce laid off (November 2023)
• Medical Solutions mass layoffs: 10% of workforce laid off (November 2023)
• Faire mass layoffs: 20% of workforce laid off (November 2023)
• Panera Bread mass layoffs: 3% of workforce laid off (November 2023)
• Condé Nast & Vox Media mass layoffs: 5% of workforce laid off (November 2023)
• Splunk mass layoffs: 7% of workforce laid off (November 2023)
• Master Lock mass layoffs: 4% of workforce laid off (November 2023)
• Bandcamp mass layoffs: 50% of workforce laid off (October 2023)
• Bungie mass layoffs: 8% of workforce laid off (October 2023)
• Beam Therapeutics mass layoffs: 20% of workforce laid off (October 2023)
• Bullhorn mass layoffs: 9% of workforce laid off (October 2023)
• Shipt mass layoffs: 3.5% of workforce laid off (October 2023)
• Nokia mass layoffs: 16% of workforce laid off (October 2023)
• Geico mass layoffs: 6% of workforce laid off (October 2023)
• Rolls-Royce mass layoffs: 6% of workforce laid off (October 2023)
• Flexport mass layoffs: 20% of workforce laid off (October 2023)
• Qualcomm mass layoffs: 2.5 % of workforce laid off (October 2023)
• LinkedIn mass layoffs: 3% of workforce laid off (October 2023)
• Ally Financial mass layoffs: 5% of workforce laid off (October 2023)
• Qualtrics mass layoffs: 14% of workforce laid off (October 2023)
• Washington Post mass layoffs: 9% of workforce laid off (October 2023)
• Epic Games mass layoffs: 16% of workforce laid off (September 2023)
• Talkdesk mass layoffs: 20% of workforce laid off (September 2023)
• General Motors (GM) mass layoffs: 1% of workforce laid off (September 2023)
• Center for Antiracist Research mass layoffs: 50% of workforce laid off (September
• WWE mass layoffs: 12% of workforce laid off (September 2023)
• Cisco mass layoffs: .4% of workforce laid off (September, 2023)
• Airtable mass layoffs: 27% of workforce laid off (September 2023)
• Slalom mass layoffs: 7% of workforce laid off (September 2023)
• Grindr mass layoffs: 46% of workforce laid off (September 2023)
• Roku mass layoffs: 10% of workforce laid off (September 2023)
• PDC Energy (Chevron) mass layoffs: 33% laid off (September 2023)
• Barstool Sports mass layoffs: 25% of workforce laid off (August 2023)
• Farmers Insurance mass layoffs: 11% of workforce lad off (August 2023)
• T-Mobile mass layoffs: 7% of workforce laid off (August 2023)
• Twiga mass layoffs: 33% of workforce laid off (August 2023)
• Intel mass layoffs: .2% of workforce laid off (August 2023)
• BlueRock mass layoffs: 12% of workforce laid off (August 2023)
• AppFolio mass layoffs: 9% of workforce laid off (August 2023)
• Tyson Foods mass layoffs: 1% of workforce laid off (August 2023)
• Emergent Biotech mass layoffs: 15% of workforce laid off (August 2023)
• Rapid7 mass layoffs: 18% of workforce laid off (August 2023)
• CVS mass layoffs: <2% of workforce laid off (August 2023)
• KuCoin mass layoffs: 30% of workforce laid off (July 2023)
• Yellow mass layoffs: 100% of workforce laid off (July 2023)
• Kape Technologies mass layoffs: 30% of workforce laid off (July 2023)
• Entertainment Tonight mass layoffs: 10% of workforce laid off (July 2023)
• Anheuser-Busch mass layoffs: 2% of workforce laid off (July 2023)
• BioGen mass layoffs: 11% of workforce laid off (July 2023)
• FibroGen mass layoffs: 32% of workforce laid off (July 2023)
• Allina Health mass layoffs: 1% of workforce laid off (July 2023)
• Binance mass layoffs: 12% of workforce laid off (July 2023)
• Walgreens mass layoffs: .16% of workforce laid off (July 2023)
• Niantic mass layoffs: ~28% of workforce laid off (July 2023)
• Ford mass layoffs: 1% of workforce laid off (June 2023)
• Robinhood mass layoffs: 7% of workforce laid off (June 2023)
• Uber mass layoffs: 1% of workforce laid off (June 2023)
• Grubhub mass layoffs: 15% of workforce laid off (June 2023)
• Spotify mass layoffs: 2% of workforce laid off (June 2023)
• Rolls Royce mass layoffs: 6% of workforce laid off (May 2023)
• JPMorgan Chase mass layoffs: .2% of workforce laid off (May 2023)
• Paramount mass layoffs: 25% of workforce laid off (May 2023)
• Shopify mass layoffs: 20% of workforce laid off (May 2023)
• Morgan Stanley layoffs: 5% of workforce laid off (May 2023)
• David’s Bridal layoffs: 83% of workforce laid off (April 2023)
• Roku layoffs: 6% of workforce laid off (March, 2023)
• Lucid Group layoffs: 18% of workforce laid off (March, 2023)
• Meta layoffs: 13% of workforce laid off (March, 2023)
• Twitter layoffs: 10% of workforce laid off (February, 2023)
• Twillo layoffs: 17% of workforce laid off (February, 2023)
• Roomba layoffs: 7% of workforce laid off (February, 2023)
• Disney layoffs: 3% of workforce laid off (February, 2023)
• Zoom layoffs: 15% of workforce laid off (February, 2023)
• Dell layoffs: 5% of workforce laid off (February, 2023)
• HubSpot layoffs: 7% of workforce laid off (February, 2023)
• PayPal layoffs: 7% of workforce laid off (February, 2023)
• IBM layoffs: 1.5% of workforce laid off (January, 2023)
• Gemini layoffs: 10% of workforce laid off (January, 2023)
• Yankee Candle layoffs: 13% of office workers laid off (January, 2023)
• 3M layoffs: <1% of workforce laid off (January, 2023)
• Spotify layoffs: 6% of workforce laid off (January, 2023)
• Google (Alphabet) layoffs: 6% of workforce laid off (January, 2023)
• Microsoft layoffs: 4-5% of workforce laid off (January, 2023)
• Amazon layoffs: 1-2% of workforce laid off (January, 2023)
• Carta layoffs: 10% of workforce laid off (January, 2023)
• Coinbase layoffs: 20% of workforce laid off (January, 2023)
• DirecTV layoffs: 5-6% of workforce laid off (January, 2023)
• Salesforce layoffs: 10% of workforce laid off (January, 2023)
• Vimeo layoffs: 11% of workforce laid off (January, 2023)
• Goldman Sachs layoffs: 8% of workforce laid off (January, 2023)
• Compass layoffs: size of layoffs not immediately known (January, 2023)
• Stitch Fix layoffs: 20% of workforce laid off (January, 2023)

What companies had mass layoffs in 2022:

DoorDash mass layoffs:

On November 30th a company spokesman for DoorDash confirmed that the company will layoff approximately 1,250 employees — representing 6% of the company’s staff. CEO Tony Xu called the mass layoff “the most difficult change to DoorDash that I’ve had to announce in our almost 10-year history.”

DoorDash’s stock price is down more than 60% since January, 2022.

Zillow mass layoffs:

Citing continued declines in the housing market, online real estate services company, Zillow laid off 300 employees at the end of October 2022.

At roughly 5% of its overall employees, these layoffs come as a result of mounting fears of an impending recession.

Netflix mass layoffs 

The streaming giant’s subscriber count continues to shrink and as a result, Netflix has laid off 150 workers accounting for about 2% of its workforce in June.

Citing slowing revenue as the reason for slow company growth, Netflix representatives explain that these layoffs come as the result of a business need and not due to any personal performance issues of those being let go.

Carvana mass layoffs

In one of the largest mass layoffs this year, Carvana cited a recession in auto sales as the main driver in laying off 2,500 employees in November.

Reports of this mass layoff have revealed that these 2,500 Carvana employees were made aware of layoffs via Zoom.

Coinbase mass layoffs

The cryptocurrency exchange platform announced that it would be laying off 18% of its workforce in June.

CEO Brian Armstrong cited a possible recession, a need to manage costs, and growing “too quickly” during a bull market as reasons for laying off almost one-fifth of the Coinbase workforce, leading many to wonder if this is a sign of things to come for the crypto industry at large.

Compass & Redfin mass layoffs

As the housing market remains as volatile as ever and interest rates continue to rise, Compass, a real estate brokerage, announced that it would be laying off 13% of its employees in November — this after Compass laid off 18% of its workforce in June.

Redfin, another real estate brokerage feeling the effects of declining home sales, announced that it will be cutting its workforce by 8% in June, 2022.

These layoffs come as both companies have been struggling to keep up with the slowing housing market.

Companies with layoffs in 2022:

• Cisco layoffs: 5% of workforce laid off (December, 2022)
• DoorDash layoffs: 6% of workforce laid off (November, 2022)
• Candy Digital layoffs: 33% of workforce laid off (November, 2022)
• Redfin layoffs: 13% of workforce laid off(November, 2022)
• Amazon layoffs: 1% of workforce laid off beginning (November, 2022)
• Meta layoffs: 13% of workforce laid off (November, 2022)
• Twitter layoffs: 50% of workforce laid off (November, 2022)
• Zillow layoffs: 5% of workforce laid off (October, 2022)
• Peloton layoffs: 12% of workforce laid off (October, 2022)
• DocuSign layoffs: 9% of workforce laid off (September, 2022)
• Taboola layoffs: 6% of workforce laid off (September, 2022)
• Snapchat layoffs: 20% of workforce laid off (September, 2022)
• Outbrain layoffs: 3% of workforce laid off (July, 2022)
• Lyft layoffs: 2% of workforce laid off (July, 2022)
• The Mom Project layoffs: 15% of workforce laid off (July, 2022)
• Opensea layoffs: 20% of workforce laid off (July, 2022)
• Substack layoffs: 14% of workforce laid off (June, 2022)
• Ninantic layoffs: 8% of workforce laid off (June, 2022)
• MasterClass layoffs: 20% of workforce laid off (June, 2022)
• Bird layoffs: 23% of workforce laid off (June, 2022)
• Superhuman layoffs: 22% of workforce laid off (June, 2022)
• Cameo layoffs: 25% of workforce laid off (May, 2022)
• Robinhood layoffs: 9% of workforce laid off (April, 2022)
• Virgin Hyperloop layoffs: 50% of workforce laid off (February, 2022)
• Peloton layoffs: 20% of workforce laid off (February, 2022)
• Beachbody layoffs: 10% of workforce laid off (January, 2022)

What other companies had mass layoffs in 2022?

Although not technically a “mass” layoff (more than 1/3 of the company or more than 500 employees laid off in 30-days) the following companies have seen large layoffs in 2022:

DocuSign layoffs this year

DocuSign announced in September that it plans to cut around 9% of its workforce.

Like many other major corporations making mass layoffs, DocuSign says these layoffs are a part of a major restructuring plan ahead of the expected recession.

Ford Motor Company layoffs this year

Ford announced in late-August plans to lay off 2,000 salaried workers and 1,000 contract workers across the US, Canada and India — with a large percentage of these layoffs occurring in Michigan.

The layoffs will be effective September 1, 2022 according to a company spokesman.

7-Eleven layoffs this year

7-Eleven laid off at least 880 corporate employees in July at offices in Ohio and Texas. A company spokesman said these layoffs were the result of an ongoing “integration process” after it bought rival Speedway in 2020.

Shopify layoffs this year

According to the WSJ, Shopify plans to lay off approximated 1,000 employees, roughly 10% of its global workforce.

In an internal memo on July 26, CEO Tobi Lutke told employees his belief that post-pandemic e-commerce would continue to grow did not come to fruition, noting “It’s now clear that bet didn’t pay off. Ultimately, placing this bet was my call to make and I got this wrong.”

Vimeo layoffs this year

Popular video-hosting platform Vimeo laid off 6% of their employees in July. CEO Anjali Sud stated the staff layoffs were necessary to give the company “financial flexibility,” while also noting “after assessing the challenging market conditions and uncertainty ahead, I believe this is the responsible action to take.”

Tesla layoffs this year

In late June, Tesla laid off 229 employees largely from it’s Autopilot team — with the majority being hourly workers, which is surprising given that CEO Elon Musk stated earlier in the year layoffs would be targeted at salaried positions.

Loom layoffs this year

While not technically a “mass” layoff, video messaging and collaboration service Loom recently laid off 34 members of its relatively small staff accounting for 14% of its overall workforce.

While Loom hosts 14 million monthly users, these layoffs are said to be a part of the company’s overall strategy for more sustainable growth moving forward.

What is the WARN act?

The Worker Adjustment and Retraining Notification (WARN) Act is a US law that requires employers with 100 or more employees to provide a 60-day advance notification of plant closings and mass layoffs.

The act aims to provide employees with sufficient time to seek alternative employment or retraining opportunities, ensuring a smoother transition during such challenging times.

What to do if you’ve been laid off

While you may be overwhelmed by what to do after being laid off, there are a few important things you should do immediately after.

If you’ve recently been laid off, be sure to take care of these three things immediately before figuring out what to do next…

Tip 1: File for unemployment immediately

Filing for unemployment is the first step you should take if you’ve been laid off. You can usually file for unemployment online, simply by providing information like your Social Security number, driver’s license or state ID number, and contact information for your previous employer.

Tip 2: Health insurance options

Exploring your health insurance options after being laid off is also important. If you were previously covered by your employer, you may be eligible for COBRA, which allows you to keep your health insurance for a certain period of time after leaving your job.

Tip 3: Retirement savings

If you had access to a 401k contribution plan at your former employer, you have the option to cash out your 401k, though this option is usually not advised as certain penalties can be incurred.

There is also the option to roll the account over into an IRA but take the time you need to decide which option is best for you with a licensed finance professional.

Top industries to apply to after you’ve been laid off

Once you’ve taken care of those 3 housekeeping items to stay afloat while you search for your next job, take some time to update your resume, start networking, and consider the following industries in high demand for talented professionals.

Tech Industry

The tech industry is always in need of talented professionals and there is no sign of that changing anytime soon. Companies like Google, Amazon, and Apple are always on the lookout for top talent in fields with top salaries in data science, software engineering, and product management.

Digital Marketing Industry

The rise of social media and online advertising has led to a boom in the digital marketing industry. Companies are in need of talented marketers to help them reach their target audiences online in new and innovative ways.

With countless, in-demand roles with top salaries in social media and digital marketing, now is a great time to consider a career as a social media coordinator, digital marketing manager, and more.

Creative Industry

The creative industry, which includes roles with top salaries in web design, graphic design, and copywriting, is also in high demand.

Companies are always looking for creative professionals to help them stand out from the competition. If you’re a creative professional who has recently been laid off, consider pursuing a career in the creative industry.

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For a complete breakdown of all the top Tech, Creative & Digital Marking salaries, download our Annual Salary Guide.

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Are companies laying off in 2024?

While employment trends continue to change and evolve and many companies have experienced mass layoffs, economists say that this won’t necessarily be the norm moving forward.

Recent U.S. employment numbers show that employment rates remain steady and although certain sectors have been hit by layoffs harder than others, these companies are largely those that saw larger than average growth throughout the Covid-19 pandemic.

If you’ve been affected by mass layoffs in 2024, remember you still have plenty of options.

There are many industries that are still hiring and there are many things you can do to improve your employability.

Be sure to file for unemployment, explore your health insurance options, and update your resume before applying to jobs in high-demand industries like tech, digital marketing, and the creative arts.

With a little effort, you’re sure to find yourself gainfully employed again in a fulfilling role.

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• Pay Transparency: What States Have It & Why It’s Important
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