26 Big Companies Are Laying Off Mass Numbers of Employees Shaking Up the Market

Lately, there’s been a troubling pattern popping up everywhere in the business scene, with a ton of companies rolling out massive layoffs. This spree of job cuts, slicing through industries like a hot knife through butter, points to some serious economic rough patches and market shake-ups. 

As workers ride the roller coaster of uncertainty, 26 major companies are laying off massive numbers of employees, hinting at a big-time shake-up in how the world does business in 2024.


Google’s recent workforce reduction—affecting more than a thousand employees from hardware to YouTube—signals a shift towards focusing on key priorities.


TikTok is streamlining by cutting 60 roles in sales and advertising, part of an operational overhaul to align resources with strategic goals.


Citigroup trimmed 8% of its workforce, adjusting strategies to tackle the evolving landscape of global finance.

Prime Video & MGM Studios

In a significant reshuffle, these entertainment powerhouses let go of hundreds, streamlining for a more focused content strategy.


Vroom’s recent strategic overhaul includes ending its e-commerce activities and dealership business, resulting in the layoff of approximately 800 employees, 90% of its staff.


Walmart, bracing for a challenging year, has cut over 2,000 jobs at U.S. warehouses managing online orders, aiming to realign with future customer demands.


Amid the fluctuating economic landscape, BlackRock is reducing its staff by 600, a strategic move amounting to 3% of its team, with a focus on technology investing and alternative products.

Morgan Stanley

Morgan Stanley is laying off about 3,000 employees, streamlining operations in response to market shifts and a downturn in investment banking revenues.


Gap Inc. is reshaping its future, laying off 1,800 employees in a bid to streamline operations and enhance the customer experience.


eBay, grappling with the broader tech industry slump, announced a 9% workforce reduction, approximately 1,000 jobs, to stay competitive and agile.


Macy’s, in an effort to streamline operations amidst evolving retail dynamics, is laying off 2,350 employees, about 3.5% of its total workforce.


In January 2024, iRobot, known for its robotic vacuums, cut 31% of its staff, tightening operations amid evolving market demands.

TIME Magazine

TIME, a storied publication, reduced its editorial staff by 15%, navigating the challenging waters of the news industry.

The Los Angeles Times

Facing industry pressures, The Los Angeles Times reduced its newsroom staff by 20%.


Brex, offering financial services for businesses, reduced its team by 20% to optimize resources for sustainable growth.


Jamf, providing Apple enterprise management software, scaled back its workforce by 6%, refining its focus on core products and services.


The giant in cloud-based software trimmed its team by 1%, adjusting to align better with strategic growth objectives.

Business Insider

In a bid to streamline operations, Business Insider pared down its workforce by 8%, reflecting changes in digital journalism’s economics.

Levi Strauss & Co. 

The iconic denim brand reduced its workforce by 10%-15%, streamlining operations to maintain its market position.


Outdoor retailer REI made a modest cut of 2% of its staff, adapting to the dynamic retail sector’s trends.

Sports Illustrated

The sports publication made minimal cuts, less than 1% of its team, tweaking its roster to navigate the digital media era.


Discord, a popular communication platform, reduced its staff by 15%, focusing on optimizing its service in the competitive social media space.


The animation giant announced layoffs affecting less than 20% of its staff, aiming to align with new creative and business goals.


Wayfair let go of 13% of its workforce, a strategic move to bolster its financial position and focus on core priorities.

Riot Games

Known for popular video games, Riot Games trimmed its workforce by 11%, aiming for agility in game development and operations.


Microsoft scaled back 8% of its staff, refining its focus amidst the rapidly evolving tech landscape.

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