7 days ago
The wave of lay-offs in the first half of 2025: The consumer goods industry – a ‘safe fortress' in the crisis is also starting to shake
The first half of 2025 has seen a fresh wave of lay-offs sweep across global markets, as companies recalibrate in the face of ongoing economic volatility.
Data from Intellizence and CNN shows that more than 5,700 businesses executed mass lay-offs throughout 2024, and the momentum has carried into this year, with over 190 companies following suit. After two years marked by significant downsizing across technology, media, finance, manufacturing, retail, and energy, the tide has yet to turn. Even the consumer goods sector, long seen as a 'safe fortress' in times of turmoil, has not escaped unscathed, with major reductions announced by two of its most prominent names. Yet beyond the grim statistics, there may be signs of a deeper transformation taking shape in the framework of the global economy.
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In just the first half of 2025, a host of multinational corporations across varied industries have unveiled wide-scale lay-offs. Meta, parent company of Facebook, Instagram and WhatsApp, has confirmed the dismissal of around 3,600 employees, viewed as underperformers, representing 5 per cent of its workforce. Starbucks followed suit, announcing plans to shed 1,100 roles while also cancelling hundreds of incoming positions, citing the need to streamline operations and refocus the brand's priorities. Amazon, too, continued trimming headcount, particularly in its communications and sustainability divisions, raising its total lay-offs to 27,000 over the past three years.
This wave has not remained confined to tech and retail. It has extended to financial institutions and consumer goods conglomerates. DBS Bank, Southeast Asia's largest financial group, plans to reduce its workforce by 4,000 over the next three years across 19 markets. Strikingly, even stalwart consumer brands, typically resilient during economic storms, are no longer exempt. Procter & Gamble confirmed it will eliminate approximately 7,000 roles, predominantly in administrative and office-based functions. Shortly after, Unilever drew headlines when it revealed a plan to cut 7,500 positions globally: nearly 6 per cent of its total workforce.
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Behind these seemingly unconnected announcements lies a quieter, more deliberate trend. As the cost of raw materials continues to rise and AI and automation technologies gather pace, businesses are being pushed to refine their models. In doing so, human capital is increasingly under review.
