Mass layoffs in 2025: Microsoft, Meta, and more big names slash jobs — is yours next?
FAQs
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
The wave of layoffs is not over. In fact, 2025 is shaping up to be another challenging year for workers in a variety of industries, including technology, retail, and even space exploration. Many of these decisions are based on AI and automation, leaving thousands to wonder if they will be next.Companies around the world are reducing staff in the name of efficiency, restructuring, or preparing for an AI-powered future.Companies such as Meta, Boeing, and Chevron are laying off thousands of workers, while CNN and BlackRock are making targeted reductions. The workplace is rapidly changing once again.After two years of large-scale job losses in the tech, media, finance, manufacturing, retail, and energy sectors, layoffs and other workforce reductions are happening again in 2025.Although there are a variety of reasons for staff reductions, cost-cutting initiatives are occurring in tandem with technological advancements. According to a recent World Economic Forum survey, 41% of businesses globally stated that they anticipated laying off employees over the next five years due to the development of artificial intelligence.AI-related job cuts have previously been announced by companies like CNN, Dropbox, and Block. Meanwhile, the WEF predicts that by 2030, tech jobs in big data, fintech, and AI will have doubled.1. Adidas – Cutting up to 500 jobs at its German headquarters to simplify operations.2. Ally – Letting go of around 500 employees (under 5% of staff) to restructure, while continuing to hire in other areas.3. Automattic – Parent of Tumblr and WordPress is reducing its global staff by 16% due to market competition and the need for efficiency.4. BlackRock – Trimming around 200 roles (about 1% of workforce) to better align with strategic goals.5. Block (formerly Square) – Laying off nearly 1,000 workers as part of a streamlining effort, not directly linked to financial issues.6. Blue Origin – Jeff Bezos' space company is cutting about 10% of staff to refocus on manufacturing and launch goals.7. Boeing – Cutting 400 jobs tied to its moon rocket program due to delays in NASA's Artemis missions.8. BP – Eliminating a total of 7,700 roles worldwide (including 3,000 contractors) to simplify its structure and cut costs.9. Bridgewater Associates – The world's largest hedge fund is letting go of about 90 employees to stay lean.10. Bumble – Slashing around 240 jobs (30% of its team) as part of a major strategic reset.11. Burberry – Cutting 1,700 jobs (18% of staff) in a bid to save £100 million by 2027 amid poor financial performance.12. Chevron – Planning to reduce 15–20% of global workforce by 2026—about 9,000 jobs—to improve efficiency and integrate Hess.13. CNN – Cutting 200 TV-focused roles as it pivots more toward digital content.14. Coty – Also undergoing job reductions, though exact figures not specified here.15. Morgan Stanley – Set to lay off up to 2,400 staff, about 2–3% of its global workforce, to improve operational efficiency.16. Paramount – Announced a 3.5% workforce cut in the U.S. as part of cost restructuring.17. Porsche – Plans to eliminate 3,900 jobs gradually over the next few years.18. Microchip Technology – Letting go of 2,000 employees due to lower demand.19. Meta (Facebook's parent) – Cutting around 5% of staff to stay lean and focused.20. Intel – Reducing at least 15% of its factory workforce, primarily in manufacturing.21. PwC (PricewaterhouseCoopers) – Planning to cut about 2% of its U.S. staff.22. Salesforce – Cutting more than 1,000 jobs as part of ongoing streamlining.23. Starbucks – Laying off 1,100 corporate roles in a reorganization push.Many businesses are restructuring due to rising costs, shifting priorities, and increased use of artificial intelligence.In most cases, yes. According to a World Economic Forum survey, 41% of companies expect artificial intelligence to reduce their workforce.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
an hour ago
- First Post
Germany choosing soldiers over workers may hurt businesses, economy: Report
Germany plans to introduce a voluntary six-month military service scheme as Berlin tries to train more reservists and bolster national defences over security concerns about Russia. This may strain efforts to recruit workers amid a tight labour market read more German reservist Hannes stands for a portrait after completing shooting training at barracks in Beelitz near Berlin, Germany, March 6, 2025 REUTERS Germany is planning to draft more people into the army as it tries to meet its military targets, but business owners in the country are worried that it will decrease the number of workers, eventually hampering the economy. People from corporate companies have told the Financial Times that while they support the German government's efforts to bolster the military in the face of the Russia-Ukraine war, the practice of conscription may strain their efforts to recruit workers amid a tight labour market. STORY CONTINUES BELOW THIS AD 'The security situation is dramatic. Yes, we need more active soldiers. Yes, we need to expand the system of reservists. But only a strong economy can make that possible,' said Steffen Kampeter, director of the BDA, the country's biggest employers' group. Why does Germany need more soldiers? Germany plans to introduce a voluntary six-month military service scheme as Berlin tries to train more reservists and bolster national defences over security concerns about Russia. Volunteers would be sought for training in simple tasks such as guard duties under the scheme, but a military draft to recruit more people could be considered if uptake were deemed too low, sources told Reuters. The country's Defence Minister, Boris Pistorius, has announced plans to open the scheme to about 5,000 young adults (18-year-olds) who want to join the army voluntarily each year. Pistorius wants to increase the number of soldiers in service from 180,000 to 260,000. Germany hopes the voluntary six-month scheme would help double the number of trained reservists from the current level of around 100,000 and that some of the volunteers would go on to have a career in active service. Also, the country has to fulfil its commitment to Nato under which it has to expand its military by about 80,000 people by the next decade, as US President Donald Trump pushes for more defence spending by the alliance. Germany's labour problem Despite record-high employment, Germany has the shortest average working hours among wealthy nations, according to OECD data. The country's new conservative-led government, under Chancellor Friedrich Merz, has pledged to increase working hours as part of broader efforts to reinvigorate the sluggish economy. Merz has vowed to increase working hours in the country, which he thinks will address the acute skill shortage in sectors like health, education and the engineering industry. STORY CONTINUES BELOW THIS AD 'If the necessary personnel are pulled away from us, that means issues like weekly working hours, the length of the working life, better integration of part-time workers into the labour market — all of those topics become even more important,' Kampeter told FT. With inputs from agencies
Fibre2Fashion
2 hours ago
- Fibre2Fashion
Australian manufacturing performance continues to drop: Ai Group
The seasonally-adjusted Australian Industry Index fell slightly by 1.8 points to minus 11.9 in June. The index has indicated contraction for the last 36 months. Supply side factors eased as input costs and average wages declined, pointing to continued softening of inflationary pressures, according to The Australian Industry (Ai) Group, which released the index. Demand side weakness continued, as new orders dropped while sales remain subdued, with manufacturers particularly affected. The seasonally-adjusted Australian Industry Index fell slightly by 1.8 points to minus 11.9 in June. The index has indicated contraction for the last 36 months. Demand side weakness continued, as new orders dropped while sales remain subdued, with manufacturers particularly affected. Manufacturing performance continues to decline despite the broader recovery in industrial sectors. The contraction in sales activity eased slightly to minus 15.6 in June. Since reaching a recent trough at the start of 2024, the trend has shown gradual signs of recovery. Employment improved by 6.6 points to be broadly stable at minus 1.9. This is the first time the index has approached neutral since March 2024. The steady recovery evident in trend data for sales and employment points to improving conditions for the industrial sectors, the Ai Group said in a release. Manufacturing continued to contract despite the broader recovery in industrial sectors, with the purchasing managers' index (PMI) declining to minus 29.3. In trend terms, manufacturing performance continues to slide. Sales of manufacturers were affected by weather, rising costs and trade uncertainty that weakened buyer confidence; in response discounts and flexible payments were employed to boost demand. Capacity utilisation in Australian industry moved slightly upwards to 77.9 per cent in June. Some respondents indicated that increased new orders lifted capacity utilisation and it is likely that capacity utilisation will increase in the coming months. Despite some easing, capacity utilisation remained constrained due to skilled labour shortages, rising living costs and growing competition. Larger contracts are helping sustain operations, but skilled labour shortages and retail sector weakness continue to pose challenges for some respondents, it noted. The new orders index edged down slightly, landing at minus 13.8, a similar rate to the previous month. Since mid-2024, the indicator has shown a gradual trend of improvement. Input volumes fell by 8.9 points in June to minus 11.7, reversing May's gains and matching earlier lows. Some respondents noted signs of enquiries picking up, though overall demand remained soft and reduced orders reflected a cautious outlook for customer spending in June. Market conditions remain strained as global volatility, regulatory changes and competition from imports continue to disrupt supply chains and curtail orders. Pricing indicators showed mixed results in June. The sales price indicator increased to 5.5, while the input prices indicator decreased to 36.5. The gap between sales prices and input costs improved by narrowing to 31.0 in June. However, the wide gap continues to point to margin pressures. The wages indicator remained stable at 36.8, and it has been steady in trend terms since late 2024. Pricing remains under pressure from geopolitical uncertainty, weak local demand, import competition and climate-related economic impacts. Fibre2Fashion News Desk (DS)
Time of India
2 hours ago
- Time of India
South Korean arm of world's largest luxury group hit by hacking attack
Louis Vuitton Korea , the South Korean unit of the global luxury brand, has been hit by a cyberattack . The company confirmed that a systems hacking in June led to the exposure of some customer contact information. The company assured customers that no financial data was compromised in the incident. 'We regret to inform that an unauthorized third party temporarily accessed our system resulting in the leak of some customer information,' the unit stated in a press release. The luxury brand became aware of the breach on Wednesday (July 2) and promptly notified government authorities. Louis Vuitton Korea stated it has already implemented measures to contain the breach and significantly enhance its system security protocols. LV hacking is latest breach in South Korea's luxury sector This incident marks the latest in a series of high-profile data leaks affecting the luxury sector in South Korea this year. The country's Personal Information Protection Commission (PIPC) has been investigating the South Korean units of two other labels under the world's largest luxury group, Christian Dior Couture and Tiffany, since May, following data leaks they reported earlier in the year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 60년 묵은 혈관 찌꺼기 ,,, ''이것.' 하나면 다른건 하지 않아도 됩니다! 면역력 Rg3의 비결 더 알아보기 Undo In May, Dior issued an apology after discovering a data breach that occurred in January. Tiffany also disclosed in May that it had experienced a breach in April. Separately, Cartier notified its customers last month about a distinct incident involving leaked personal information. Beyond major luxury brands, "Must It," a popular luxury goods e-commerce platform in South Korea, also reported two hacking attempts in May and June. The platform warned users that personal data, including names, gender, and dates of birth, may have been stolen in those attempts. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
