List of All 30 Major US Companies Laying Off Staff This Year

Numerous companies in the tech, media, finance, and retail sectors reduced their workforces significantly in 2023. Layoffs were announced by tech giants like IBM, Google, and Microsoft, financial giants like Goldman Sachs, and manufacturers like Dow.

2024 appears bleak as well. March is still young.

According to a ResumeBuilder survey, nearly 40% of business executives believe layoffs will occur at their organizations this year, and roughly half say hiring freezes will be implemented. Approximately 900 leaders at companies with more than ten employees were contacted by ResumeBuilder. Fears of a recession were given as an explanation by half of those surveyed.

AI is a significant additional factor. Approximately 40% of those surveyed stated they would implement layoffs to replace laborers with AI. AI-related job cuts have already been announced by Dropbox, Google, and IBM.

These 30 companies have announced or are in the process of making layoffs as of 2024

The massive athletic wear company Nike revealed in its second-quarter earnings report on December 21 that it will be implementing a cost-cutting initiative worth up to $2 billion over the next three years. The company stated that it anticipates making job cuts as part of that initiative. Nike did not say how many roles are specifically impacted, but it does anticipate booking pre-tax charges of $400 million to $450 million, mostly in its fiscal third quarter and mostly associated with severance costs. The company also identified “simplifying our product assortment” and “increasing automation and use of technology” as additional areas for cost-cutting.

Hundreds of employees were let go by Google from its hardware teams, including those developing its voice-activated assistant, as well as from its central engineering division. The company encouraged affected employees to apply for open positions at Google if they wanted to continue working there, in an email. According to the email, those who are unable to find new employment will have until April 9 to submit their application. The tech giant reduced its global workforce by 6%, or roughly 12,000 people, in January of last year, and continued to lay off thousands of workers throughout 2023.

BlackRock is reducing its workforce by 3%, or about 600 employees. This is the company’s third round of layoffs in the past year. In an early January employee memo, President Rob Kapito and CEO Larry Fink stated that they anticipate a “distinctly different landscape” in 2024 and that various businesses within the asset management company have “developed plans to reallocate resources,” as Rebecca Ungarino of Business Insider reports. In their memo, Fink and Kapito also mentioned that “new technologies” could help BlackRock “achieve significant efficiencies in how we operate.” They anticipate that this year’s hiring will more than offset the layoffs. “Even with these changes, by the end of 2024, we expect to have a larger workforce as we continue adding people and building capabilities to support key areas of growth,” the memo states.

Rent the Runway is restructuring and will eliminate 10% of its corporate roles, impacting 37 employees, per a regulatory form submitted on Monday. As of the end of the second quarter, the clothing subscription company anticipates that the restructuring will be completed. Rent the Runway’s COO and president, Anushka Salinas, resigned as part of the reorganization. Jennifer Hyman, the CEO, is taking on more responsibilities. The restructuring will save between $11 and $13 million, according to the company.

Unity Software intends to lay off 1,800 workers, or about 25% of its workforce, as per a Form 8-K it filed with the SEC on Monday. The company is cutting staff as it “restructures and refocuses on its core business, and to position itself for long-term and profitable growth,” according to the filing describing the cuts. Last year, Unity experienced two rounds of layoffs: in May, it let go of 8% of its staff, and in November, it let go of about 3.8%.

CEO of eBay Jamie Iannone announced in a memo to staff on January 23 that the company is laying off 1,000 workers, or roughly 9% of its total staff. He attributed the decision to headcount and costs exceeding growth, saying that it would implement the most recent round of layoffs to be “more nimble.”Iannone stated: “Despite facing external pressures, like the challenging macroeconomic environment, we know we can be better with the factors we control. While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business.”

The Information revealed that US logistics startup Flexport plans to lay off 20% of its projected 2,600 workers over the next few weeks. In October, Flexport announced a 20% cut, with Ryan Petersen, the company’s founder and CEO, taking the helm once again. With the announcement that it had raised $260 million from Shopify and achieved “massive progress toward returning Flexport to profitability,” Flexport ushered in 2024.

UPS CEO Carol Tom stated during a January earnings call that the company may save $1 billion in 2024 as a result of the layoffs, which will impact 14% of the 85,000 managers employed by the company.

The payment processing company would be laying off roughly 2,500 workers as a result of this round of layoffs.”We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our customers and drive profitable growth,” Alex Chriss, our CEO, wrote in a memo. “At the same time, we will continue to invest in areas of the business we believe will create and accelerate growth.”

According to an SEC filing, the company behind Snapchat stated in February that it is cutting 10% of its global workforce.

As part of a restructuring plan, the cosmetics company announced on Monday that it would be eliminating 3% to 5% of its positions. As of June 30, 2023, Estee Lauder reportedly employed roughly 62,000 people worldwide.

The majority of the layoffs will be in the company’s sales and marketing departments, according to a filing made with the SEC early in February.

Bob Bakish, the CEO of Paramount Global, informed staff members in a memo on Tuesday that 800 positions, or roughly 3% of the company’s total workforce, would be eliminated. Less than a month after reporting on Paramount’s layoff plans, Deadline was able to obtain the memo. Following Super Bowl LVIII’s record-breaking viewership across CBS, Paramount+, Nickelodeon, and Univision, the announcement was made.

According to a Bloomberg report on Wednesday, networking giant Cisco said it was cutting up to 4,000 jobs, or 5% of its workforce. Executives stated they expect the industry-wide reduction in corporate tech spending to continue through the first half of the year, prompting the company to announce its restructuring.

A company spokesperson told BI that 1,500 jobs will be affected by cuts as part of an operational review at the massive online travel company Expedia Group this year. As per a report published on GeekWire, which referenced an internal memo from CEO Peter Kern to staff, the company’s product and technology division is expected to suffer the most.”While this review will result in the elimination of some roles, it also allows the company to invest in core strategic areas for growth,” stated a spokesperson. “Consultation with local employee representatives, where applicable, will occur before making any final decisions,” they continued.

In a statement issued in late February, the dating app company stated that it would be cutting 350 positions from its workforce as a result of “future strategic priorities” for the company. According to CNBC, the company, which declared to have 950 workers in 2022, may have to let go of 37% of its staff. “We are taking significant and decisive actions that ensure our customers remain at the center of everything we do as we relaunch the Bumble App, transform our organization, and accelerate our product roadmap,” Lidiane Jones, CEO of Bumble Inc., said in

According to Bloomberg, Electronic Arts is letting go of roughly 670 employees or 5% of its workforce. In a statement provided to GamesIndustry.biz, the gaming company said that it had made the difficult decision to discontinue two mobile games earlier in the month. It was allegedly informed in a memo to staff members by CEO Andrew Wilson that the company would be “moving away from the development of future licensed IP that we do not believe will be successful in our changing industry.”According to Bloomberg, Wilson also stated in the memo that the company’s refocusing and changing customer needs were the reasons for the cuts.

According to CNBC, the owner of Jeep and Dodge said on March 22 that it was trying to save costs by laying off staff members from its software, technology, and engineering departments. After the car company ordered them to work remotely for the day, employees found out they were being let go through video calls. The scheduled date of the cuts is March 31.

“Several hundred” workers at Amazon Prime Video and Amazon MGM Studios are being let go by the company. In a memo to staff members dated January 10, Senior Vice President Mike Hopkins stated, “We’ve identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact.” The memo stated that affected employees will receive notifications by the end of the week. The reductions come after multiple rounds of layoffs at Amazon, which began in 2022 and lasted until 2023, impacting over 27,000 employees.