Factbox: Companies cutting jobs as investments shift toward AI
19/03/2026 10:55
(Adds HSBC, Meta March, Danske Bank, Atlassian)
March 19 (Reuters) - Investors' and economists' concerns
that artificial intelligence will upend established industries
are deepening, with job losses already emerging in sectors most
exposed to automation.
Goldman Sachs economists warned in February that AI was
responsible for 5,000 to 10,000 monthly net job losses last year
in the most exposed U.S. industries.
A survey by global outplacement firm Challenger, Gray &
Christmas linked AI to 7% of total U.S. planned layoffs
announced in January.
Below is a table of AI-linked global layoffs announced since
October from biggest to smallest. Entries with no specified
number are placed at the bottom.
COMPANY MONTH JOB CUTS NOTES
ANNOUNCED
HSBC Holdings March 20,000, Weighs deep
HSBA.L or about job cuts as
10% of AI overhaul
its total unfolds
workforce
Amazon January 16,000 Corporate job
AMZN.O cuts; AI- and
efficiency-dr
iven
overhaul.
HP Inc November 4,000-6,0 Global cuts
HPQ.N 00 by end-2028;
AI and
operational
streamlining.
Mizuho February Up to Cuts over 10
8411.T 5,000 years;
long-term
AI-driven
streamlining
plan.
Dow DOW.N January 4,500 13% of
workforce;
automation
and AI
streamlining.
Block XYZ.N February >4,000 Nearly half
its
workforce;
AI-focused
restructuring
.
SEB SEBF.PA February Up to Cuts by
2,100 end-2027;
restructuring
to leverage
AI.
Wisetech February 2,000 One-third of
WTC.AX global
workforce; AI
integration.
Allianz November Up to Travel
ALVG.DE 1,800 insurance
division; AI
replacing
manual work.
Atlassian March 1,600, or Push into AI
TEAM.O around and
10% of enterprise
its sales
workforce
Proximus February 1,200 Cuts by 2030;
PROX.BR AI efficiency
measures.
Meta META.O January >1,000 Pivot from
, Reality Metaverse to
Labs AI devices.
Autodesk January ~1,000 7% of
ADSK.O workforce;
shift towards
cloud and AI.
Nike NKE.N January 775 Profit push
and
automation.
Telstra February 650 AI-driven
TLS.AX restructuring
with Infosys
INFY.NS .
Meta, October ~600 Downsizing in
Superintellig AI division.
ence Labs
Danske Bank February 420 Cuts due to
DANSKE.CO automation
and
efficiencies
Meta March Up to 20% Workforce
of could shrink
workforce by 20% amid
AI focus; to
invest $600
billion for
data centres
by 2028
Pinterest January Up to 15% Redirecting
PINS.N of resources
workforce toward AI
strategy.
Agora December Up to 166 Nearly 7% of
AGOP.WA workforce;
digital
restructuring
.
MercadoLibre January 119 AI-expansion
MELI.O move.
British February Not AI-driven
American specified productivity
Tobacco programme.
BATS.L
(Reporting by Romolo Tosiani, Philippe Leroy Beaulieu in
Gdansk; Editing by Matt Scuffham and Milla Nissi-Prussak)
((mailto:Romolo.Tosiani@tr.com;))