2024-02-09 23:21:14
Several U.S. and Canadian companies, mainly in sectors such as technology and media, began the year with job cuts, seeking to limit costs in an uncertain economy.
Here’s a look at the layoffs announced so far in 2024:
* Job cuts at Amazon include fewer than 5% of employees in the Buy with Prime unit, 5% in the Audible division responsible for audiobooks and podcasts, several hundred in streaming and studio operations, 35% of the Twitch streaming unit and a few hundred in the One Medical and Amazon Pharmacy health care units. *Layoffs at Alphabet include dozens of employees in the X Lab new technology development division, hundreds in the ad sales team, hundreds across all teams, including the hardware team responsible for Pixel , Nest and Fitbit, and a majority in the augmented reality team.
* Microsoft is cutting about 1,900 jobs at its Activision Blizzard and Xbox gaming divisions.
* IBM plans to lay off some employees in 2024, but will hire others for AI-focused roles.
* E-commerce company eBay plans to cut about 1,000 positions, or nearly 9% of its current workforce.
* Video game software provider Unity Software will cut around 25% of its workforce, or 1,800 jobs.
* DocuSign plans to reduce its current workforce by approximately 6%, or 400 employees, with the majority of layoffs affecting its sales and marketing organizations.
* Snap plans to cut around 528 jobs, or 10% of its global workforce.
* Salesforce is laying off around 700 people, or roughly 1% of its global workforce.
* Networking giant Cisco plans to restructure its business, which will involve laying off thousands of employees.
* Autonomous vehicle technology company Aurora Innovation lays off 3% of its workforce.
MEDIA
* Walt Disney’s Pixar Animation Studios will cut jobs because the studio has finished production on some shows and has more staff than necessary.
* British media group Sky, owned by Comcast, plans to cut around 1,000 jobs across its operations this year.
* The Los Angeles Times plans to lay off 94 journalists who are members of the newspaper’s union.
*Paramount Global plans to make an unspecified number of layoffs.
* Business Insider plans to lay off about 8% of its staff.
* Bell Canada plans to cut 4,800 jobs.
SERVICES FINANCIERS
* PayPal Holdings plans to cut about 2,500 jobs, or 9% of its global workforce, this year. pau
* Payments company Block Inc. has begun cutting unspecified jobs as part of its previously disclosed plans.
* Citigroup plans to reduce its workforce by 20,000 people over the next two years.
* Stock exchange operator Nasdaq plans to cut hundreds of jobs as part of the integration of fintech company Adenza into its activities.
* The world’s largest asset manager, BlackRock, is set to cut about 3% of its current workforce, although it expects to have a larger workforce by the end of 2024.
CONSUMERS AND RETAIL
* Cosmetics giant Estee Lauder plans to reduce its global workforce by 3 to 5%.
* Wayfair plans to lay off 1,650 people, or about 13% of its workforce.
* The American department store chain Macy’s is cutting 2,350 jobs and closing five stores.
* Levi Strauss & Co plans to cut 10 to 15% of the company’s jobs globally.
* Hershey plans a restructuring plan that will affect less than 5% of its workforce.
* Novavax is cutting approximately 12% of its workforce.
FABRICATION
* Defense company Lockheed Martin plans to cut 1% of its jobs.
* United Parcel Service plans to cut 12,000 jobs to cut costs by $1 billion after a turbulent year.
NATURAL RESOURCES
* US mining company Piedmont Lithium is cutting 27% of its workforce as part of a cost-cutting plan. (Reporting by Zaheer Kachwala, Harshita Mary Varghese, Samrhitha Arunasalam, Arsheeya Bajwa, Priyanka.G and Jaspreet Singh in Bengaluru; Editing by Arpan Varghese and Anil D’Silva)
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