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
TikTok is streamlining by cutting 60 roles in sales and advertising, part of an operational overhaul to align resources with strategic goals.
Citigroup
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
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
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.
BlackRock
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
Gap Inc. is reshaping its future, laying off 1,800 employees in a bid to streamline operations and enhance the customer experience.
eBay
eBay, grappling with the broader tech industry slump, announced a 9% workforce reduction, approximately 1,000 jobs, to stay competitive and agile.
Macy’s
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.
iRobot
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
Brex, offering financial services for businesses, reduced its team by 20% to optimize resources for sustainable growth.
Jampf
Jamf, providing Apple enterprise management software, scaled back its workforce by 6%, refining its focus on core products and services.
Salesforce
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.
REI
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
Discord, a popular communication platform, reduced its staff by 15%, focusing on optimizing its service in the competitive social media space.
Pixar
The animation giant announced layoffs affecting less than 20% of its staff, aiming to align with new creative and business goals.
Wayfair
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
Microsoft scaled back 8% of its staff, refining its focus amidst the rapidly evolving tech landscape.
