Job Cuts

Tech layoffs continued in 2025, with over 1,00,000 jobs lost, primarily from giants like Amazon and Microsoft. The trend is comes at a time when companies are opting for AI solutions to manage rising operational costs.

Employees affected are expected to exit beginning early next year, with Telefonica projecting a positive impact on cash generation from 2026 itself.

In 2025, layoffs surged to 1.17 million in the US, influenced heavily by AI, which accounted for 55,000 job cuts. Major companies such as Amazon and Microsoft have implemented significant layoffs.

Pfizer layoffs: Pharma giant Pfizer is set to cut hundreds of jobs in Switzerland as part of the company's multi-year cost reduction program. Here's how many jobs the company plans to cut by the end of 2025.

UBS may cut 10,000 jobs by 2027, a report said. A reduction of 10,000 positions would amount to a roughly 9% cut in Swiss bank's workforce, which stood at around 110,000 employees at the end of 2024.

The deal would place the streaming giant's HBO brands under the Netflix umbrella and also hand control of the historic Warner Bros studio over to Netflix

The news comes on the back of the Trump administration's decision to impose 50% tariffs on foreign steel, which Algoma said had severely hit its ability to access the market across the border.

Omnicom layoffs: Omnicom Group is set to cut more than 4,000 jobs and close several agency brands after taking over Interpublic Group in $13.5 billion deal. The layoffs will mainly impact administrative roles and certain leadership positions.

Swire layoffs: Swire Group is set to cut nearly 10% of its employee jobs at the company's Hong Kong office as the firm aims to streamline its operations amid China's economic slowdown. Swire Pacific's 79% of its revenues come from the Hong Kong, China markets.

Tami Erwin, former CEO of Verizon Business, wrote an open letter to the company's laid-off employees. She urged them to grieve and emphasised the importance of people over technology.