Factbox: Companies cutting jobs as investments shift toward AI
FACTBOX-Companies cutting jobs as investments shift toward AI Updates with Microsoft layoff announcement on July 6
July 6 (Reuters) - Microsoft MSFT.O said on Monday it is cutting about 2.1% of its workforce, or roughly 4,800 jobs, as the Windows maker restructures parts of its commercial and Xbox businesses, joining other tech giants in a wave of layoffs as companies shift investment toward AI infrastructure.
The cuts highlight deepening concern among investors and economists that AI adoption will upend established industries, with job losses already emerging in sectors most exposed to automation.
In a memo to employees, Chief People Officer Amy Coleman said AI was changing how work gets done by automating some routine tasks, but that the layoffs were part of a broader effort to realign resources and operating structures with the company's priorities.
Below is a table of AI-linked global layoffs announced since October 2025, from biggest to smallest. Entries with no specified number are placed at the bottom.
COMPANY | MONTH ANNOUNCED | JOB CUTS | NOTES |
HSBC Holdings HSBA.L | March | 20,000, or about 10% of workforce | Weighs deep job cuts as AI overhaul unfolds |
Amazon AMZN.O | January | 16,000 | Corporate job cuts; AI‑ and efficiency‑driven overhaul |
Standard Chartered STAN.L | May | >7,000 | Cuts over 4 years; AI-driven operational streamlining, profitability optimisation |
HP Inc HPQ.N | November | 4,000-6,000 | Global cuts by end-2028; AI and operational streamlining |
British American Tobacco (BAT) BATS.L | June | 5,500 jobs, shift 3,500 roles to third parties | Plans to cut about 20% of its workforce over AI-driven overhaul to lower costs, lift profits |
Mizuho 8411.T | February | Up to 5,000 | Cuts over 10 years; long-term AI‑driven streamlining plan |
Microsoft MSFT.O | July | 4,800, or 2.1% of workforce | Impact on commercial, Xbox businesses |
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 |
Cisco CSCO.O | May | <4,000 | Less than 5% of its workforce; expects pre-tax charges of up to $1 billion |
Intuit INTU.O | May | ~3,000, or about 17% of workforce | Operational streamlining, increased focus on AI efforts |
SEB SEBF.PA | February | Up to 2,100 | Cuts by end-2027; restructuring to leverage AI |
Wisetech WTC.AX | February | 2,000 | One-third of global workforce; AI integration |
Allianz ALVG.DE | November | Up to 1,800 | Travel insurance division; AI replacing manual work |
Atlassian TEAM.O | March | 1,600, or around 10% of workforce | Push into AI and enterprise sales |
Proximus PROX.BR | February | 1,200 | Cuts by 2030; AI efficiency measures |
Cloudflare NET.N | May | >1,100 | Cuts due to AI adoption |
Meta META.O, Reality Labs | January | >1,000 | Pivot from Metaverse to AI devices |
Snap SNAP.N | April | ~1,000 | Cuts to ramp up AI adoption; streamline operations |
Autodesk ADSK.O | January | ~1,000 | 7% of workforce; shift towards cloud and AI |
Nike NKE.N | January | 775 | Profit push and automation |
Telstra TLS.AX | February | 650 | AI‑driven restructuring with Infosys INFY.NS |
Meta, Superintelligence Labs | October | ~600 | Downsizing in AI division |
Freshworks FRSH.O | May | ~500 | Cuts due to work automation and AI adoption |
Danske Bank DANSKE.CO | February | 420 | Cuts due to automation and efficiencies |
Meta | March | Up to 20% of workforce | Workforce could shrink by 20% amid AI focus; to invest $600 billion for data centres by 2028 |
Pinterest PINS.N | January | Up to 15% of workforce | Redirecting resources toward AI strategy |
Agora AGOP.WA | December | Up to 166 | Nearly 7% of workforce; digital restructuring |
MercadoLibre | January | 119 | AI‑expansion move |
British American Tobacco BATS.L | February | Not specified | AI‑driven productivity programme |
(Reporting by Romolo Tosiani, Enrico Sciacovelli and Philippe Leroy Beaulieu in Gdansk, Additional reporting by Anshuman Tripathy; Editing by Matt Scuffham, Milla Nissi-Prussak, Jonathan Ananda, Devika Syamnath and Shilpi Majumdar)