Factbox: US companies step up job cuts amid uncertain economy

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26/11/2025 11:14

Adds Tyson Foods, HP Inc and Bell Canada; updates Verizon

Nov 13 (Reuters) - U.S. companies across sectors are intensifying job cuts, extending a trend of workforce reductions from 2024, as they prioritize cost-savings and streamline operations amid a challenging economic environment.

Joining the list, PC-maker HP Inc HPQ.N said on Tuesday it
plans to cut 4,000 to 6,000 jobs
 globally by fiscal year 2028 as it adopts artificial intelligence.

Here are some of the companies that have announced job cuts so far in 2025:

Sector
Date of Announcement
Company
Layoffs/Job Cuts
% of Total Workforce
Resources
November
Eastman Chemical
About 980 jobs, according to Reuters' calculation
About 7%
November
Newmont NEM.N
Rejig impacts 16% of workforce including cuts to jobs, vacancies and changes made to job roles
16%
Manufacturing
October
General Motors GM.N
3,300 (1,750 job cuts, 1,550 temporary layoffs)
About 2%
Logistics
October
United Parcel Service UPS.N
48,000
Unknown
Consumer and Retail
October
January
Amazon AMZN.O
Around 14,000 corporate jobs globally, and
1,700 full-time in Canadian province of Quebec
Unknown
January
Kohl'sKSS.N
9,600
10%
June
Procter & GamblePG.N
7,000
About 6%
February
Estee LauderEL.N
7,000
11.29%
November
Tyson Foods TSN.N
About 3,200 employees in Nebraska and about 1,700 in Texas
About 3.7% globally, according to Reuters' calculations
September
StarbucksSBUX.O
2,000
Unknown
October
Target TGT.N
1,800
About 8%
May
WalmartWMT.N
1,500
Unknown
January
WayfairW.N
730 in Germany
Unknown
January
Brown-FormanBFb.N
648
12%
November
Hormel Foods HRL.N
About 250 corporate and sales jobs
1.25%
Aviation and Space
February
Southwest AirlinesLUV.N
1,750
15% of corporate roles
February
Blue Origin
1,400
10%
November
Spirit Airlines
About 150 salaried roles
Unknown
Energy and Natural Resources
February
ChevronCVX.N
8,000
20%
September
ExxonXOM.N
2,000
About 3% to 4%
January
DowDOW.N
1,500
4.17%
February
Archer-Daniels-MidlandADM.N
Up to 700
1.70%
February
HalliburtonHAL.N
290
Unknown
February
LyondellBasellLYB.N
400
Unknown
January
SolarEdge TechnologiesSEDG.O
400
Unknown
March
APAAPA.O
300
Unknown
October
* ConocoPhillipsCOP.N
Unknown
Unknown
Technology and Media
November
Verizon VZ.N
About 13,000 jobs
About 14%
November
HP Inc HPQ.N
Between 4,000 and 6,000 jobs globally by fiscal 2028
About 6% to 10%, according to Reuters' calculations
November
Synopsys SNPS.O
About 2,000 jobs
About 10%
March
Microchip Technology MCHP.O
2,000
9%
November
IBM IBM.N
Thousands of employees
Unknown
October
** Paramount Skydance PSKY.O
Around 1,000
Unknown
November
BCEBCE.TO
About 690 positions
Unknown
October
January
Meta Platforms META.O
Around 600 roles in the AI unit
5% of "lowest performers"
Unknown
October
Rivian Automotive RIVN.O
More than 600 employees
4.5%
May
CrowdStrikeCRWD.O
500
5%
October
May
Chegg CHGG.N
388
248
45%
22%
April
IntelINTC.O
Unknown
20%
May
Match Group MTCH.O
Unknown
13%
Healthcare and Pharma
February
*** UnitedHealthUNH.N
Unknown
Unknown
February
Bio RadBIO.N
Unknown
5%
Banking and Finance
March
**** Morgan StanleyMS.N
About 2,000
2% to 3%

* ConocoPhillips is laying off employees at its Canadian operations, according to three sources and a company memo reviewed by Reuters.

** Paramount Skydance will begin a major round of layoffs with about 1,000 job cuts, a source familiar with the matter told Reuters.

*** UnitedHealth was offering employees in its benefits operations unit the option to accept buyouts in February and may pursue layoffs if the resignation quota is not met, according to a CNBC report.

**** Morgan Stanley layoffs are aimed at improving operational efficiency and unrelated to current market conditions, a person familiar with the matter told Reuters.

 (Reporting by Seher Dareen and Savyata Mishra in Bengaluru; Additional reporting by Manya Saini, Anuja Bharat Mistry, Neil J Kanatt, Jaspreet Singh and Anhata Rooprai; Editing by Sriraj Kalluvila, Arun Koyyur and Sahal Muhammed)

 ((Seher.Dareen@thomsonreuters.com; If in India call +91 74832 70128;))