Layoffs in 2024: a list of companies cutting jobs this year

UPS said it would cut about 12,000 jobs amid a slowdown in its delivery business. (Getty Images)
UPS said it would cut about 12,000 jobs amid a slowdown in its delivery business. (Getty Images)

Summary

The layoffs are expected to be smaller and more targeted than those in 2023.

Companies are cutting staff and focusing on efficiency amid a commitment to do more with less following a year of widespread layoffs.

Tesla announced a round of layoffs on Monday, joining Alphabet, Amazon and UPS among major companies to cut jobs in recent months. The layoffs this year suggest that companies are cutting in more targeted areas–even as some of the biggest tech companies have continued to grow, adding more jobs than they’ve cut.

Despite the layoff notices, the overall labor market is strong. Hiring is steady and unemployment is low. U.S. employers added 303,000 jobs in March, according to the Labor Department, beating economists’ expectations. The unemployment rate fell to 3.8%, from 3.9% in February.

Here’s a look at some of the companies that have announced layoffs so far this year.

April

Amazon

The e-commerce giant is slashing hundreds of jobs from its cloud-computing business, in its latest round of job cuts this year. Amazon in January said it would eliminate hundreds of jobs across its film and television studio and Twitch streaming platform.

Tesla

The company said it will cut more than 10% of its global workforce amid dimming growth prospects and a slowdown in electric-vehicle sales.

March

Apple

The iPhone maker said it would lay off more than 600 workers, according to state records in California, in its first major job cuts since the pandemic.

Ericsson

The Swedish telecommunications-equipment company said it plans to cut 1,200 jobs in the country. Ericsson had around 99,950 global employees at the end of 2023, of which just under 14,000 are in Sweden.

Stellantis

The Chrysler-parent will cut about 400 employees in the U.S., mostly in the automaker’s software and engineering units.

Unilever

The consumer-goods company said it plans to separate its ice-cream division into a stand-alone business, and about 7,500 jobs would be affected as part of a restructuring program.

February

Cisco Systems

The networking-equipment company plans to cut about 5% of its workforce as part of a restructuring. Cisco had about 84,900 employees as of July, according to a filing.

DocuSign

The e-signature company said it would lay off about 6% of its workforce, mostly from its sales and marketing teams.

Estée Lauder

The cosmetics company said it would cut up to 3,100 positions, or about 5% of its workers, following several weak quarters.

Expedia

The travel company is cutting roughly 9% of its workforce, or about 1,500 people. At the end of last year, Expedia had approximately 17,000 employees.

Fisker

The electric-vehicle startup issued a going-concern warning and said it would lay off 15% of its staff.

Instacart

The grocery-delivery company is cutting about 250 employees, roughly 7% of its staff, as it focuses on profitability. It said its chief technology officer and chief operating officer will leave the company for personal reasons.

Morgan Stanley

The bank plans to cut hundreds of jobs in its wealth-management division, according to people familiar with the matter. The layoffs are expected to hit less than 1% of the wealth unit’s employees, which number less than 40,000. The company ended 2023 with about 80,000 total employees.

Nike

The sneaker company said it would reduce its workforce by about 2%, or more than 1,600 people, in a bid to cut costs. The cuts aren’t expected to affect employees in stores and distribution centers or those on its innovation team.

Okta

The identification-software company is laying off 400 employees, or about 7% of its workforce, in its latest round of job cuts.

Paramount Global

The parent of CBS and Paramount Hollywood studio said it would lay off 800 people, or roughly 3% of Paramount’s workforce, according to a person familiar with the matter. The layoffs follow CBS earning record ratings for the Super Bowl.

Snap

In the Snapchat parent’s latest round of job cuts, the social-media company is reducing its workforce by about 10% to trim costs amid a soft advertising market.

Sony

The company will lay off about 900 employees from its PlayStation unit. The cuts represent about 8% of the unit’s staff and will include the closing of PlayStation’s London studio.

Warner Music

Warner Music Group said it would cut 600 employees, or around 10% of its workforce. Chief Executive Robert Kyncl said in a note to employees that the changes would result in $200 million in annual cost savings, which would mostly be used to support the company’s core business.

Zoom

The videoconferencing company said it would cut about 2% of its workforce. The layoffs come about a year after the company reduced its staff by 15%.

January

Alphabet

Google laid off hundreds of employees in January in divisions including hardware and internal software tools, as the search giant continues to reverse its pandemic hiring spree. The company later in January said there were more layoffs to come but didn’t specify how many employees would be cut or which teams would be affected.

BlackRock

The world’s largest asset manager said it would layoff 600 employees, or around 3% of its total workforce. The company laid off about 3% in January 2023 as well.

Citigroup

The bank said it would eliminate 20,000 jobs by the end of 2026 as part of a multiyear restructuring plan.

Discord

The free messaging platform popular with videogamers said it is cutting 17% of its staff.

Duolingo

The language-learning software company cut 10% of its contractors and said it would use artificial intelligence to handle some content creation.

EBay

The online marketplace said it would lay off about 1,000 employees, or 9% of its full-time workforce, as part of efforts to boost performance at a time of what it called rising competition and softer consumer spending.

iRobot

The smart vacuum company said it would cut 350 jobs, or 31% of its workforce, following the termination of its merger agreement with Amazon.

Macy’s

The retailer said it is eliminating 2,350 store and corporate positions, or 3.5% of its overall workforce excluding seasonal hires, to trim costs.

Microsoft

The tech company is cutting 1,900 employees, or about 8% of its videogame staff, after last year’s acquisition of Activision Blizzard. The layoffs affect less than 1% of Microsoft’s total workforce.

PayPal

The digital payments company plans to trim 9% of its workforce this year. Last year, it said it would lay off 2,000 employees, or a 7% cut.

Rent the Runway

The fashion subscription company said it is cutting 37 roles, or about 10% of its staff.

Salesforce

The cloud-based software company is laying off around 700 employees, or 1% of its workforce, according to a person familiar with the matter.

Sports Illustrated

The legacy sports publication announced major layoffs, according to its union, sparking turmoil at the magazine. The announcement came after Sports Illustrated’s publisher said it failed to make a payment to its licenser and lost its license to publish the magazine.

United Parcel Service

The package-delivery giant plans to cut about 12,000 jobs this year amid a slowdown in its delivery business. The cuts will result in $1 billion in savings, UPS said.

Unity Software

The videogame company said it would lay off 1,800 employees, or about 25% of its workforce, following cuts by other game companies over the past year.

Universal Music Group

The music company plans to lay off around 100 to 300 employees globally this year, according to a person familiar with the matter.

Wayfair

The online retailer is laying off about 1,650 employees, or 13% of its workforce, weeks after its chief executive sent a memo asking them to work harder. Wayfair has done several rounds of layoffs in recent years as pandemic furniture buying has cooled.

Xerox

The printer maker said it would trim its workforce by 15%. Xerox had 20,500 employees at the end of 2022, according to regulatory filings.

This explanatory article may be periodically updated.

Alyssa Lukpat contributed to this article.

Write to Joseph De Avila at joseph.deavila@wsj.com

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