Important Takeaways:
- Intellizence offers the latest Layoffs, Downsizing, Job Cuts, and Hiring Freeze data for market intelligence, customer intelligence, sales intelligence, and risk intelligence activities. We monitor public sources like news and WARN filings for the latest layoff and hiring freeze announcements. We aggregate, de-duplicate, normalize, and deliver the curated layoff data through API and Web dashboard.
- Major Layoffs and Hiring Freezes in 2023 & 2024
- Microsoft
- of Employees to be Laid off: 1900
- Lloyds Banking Group
- of Employees to be Laid off: 1600
- Valeo
- of Employees to be Laid off: 1150
- Industry: Automobile
- eBay
- of Employees to be Laid off: 1000
- Corning Inc.
- of Employees to be Laid off: 1000
- Industry: Manufacturing
- Salesforce
- of Employees to be Laid off: 700
- Industry: Technology
- Tata Steel
- of Employees to be Laid off: 2800
- Macy’s
- of Employees to be Laid off: 2000
- Wayfair
- of Employees to be Laid off: 1650
- Bosch
- of Employees to be Laid off: 1200
- Citi Group
- of Employees to be Laid off: 20,000
- Google
- of Employees to be Laid off: 1000
- Industry: Technology
- Unity Software
- of Employees to be Laid off: 1800
- Industry: Technology
- GDI Integrated Facilities Services
- of Employees to be Laid off: 1867
- Industry: Consumer Services
- Twitch
- of Employees to be Laid off: 500
- Industry: Media
- Telefonica
- of Employees to be Laid off: 3421
- Industry: Telecommunication
- Enphase Energy
- of Employees to be Laid off: 340
- Industry: Energy & Utilities
- Johnsonville
- of Employees to be Laid off: 400
- Industry: Consumer Products
- Xerox
- of Employees to be Laid off: 15% of Workforce
- Industry: IT Services & Outsourcing
- Earth
- of Employees to be Laid off: 20% of Workforce
- Industry: Automobile
- Google
- of Employees to be Laid off: 30,000
- Telefonica
- of Employees to be Laid off: 3,400
- Industry: Telecommunication
- Paytm
- of Employees to be Laid off: 1000
- Industry: Technology
- PT Waskita Karya
- of Employees to be Laid off: 500
- Industry: Construction
- Agilent Technologies
- of Employees to be Laid off: 400
- ShareChat
- of Employees to be Laid off: 200
- Industry: Technology
- Hasbro
- of Employees to be Laid off: 1100
- Industry: Retail
- State Street Corp.
- of Employees to be Laid off: 1500
- Industry: Financial Services
- General Motors
- of Employees to be Laid off: 1300
- Alitalia
- of Employees to be Laid off: 3000
- Industry: Aviation
- Spotify
- of Employees to be Laid off: 1500
- Industry: Media & Entertainment
- Guangzhou Automobile Group Honda
- of Employees to be Laid off: 900
- Industry: Automobile
- CBC/ Radio Canada
- of Employees to be Laid off: 600
- Industry: Media & Entertainment
- Capita
- of Employees to be Laid off: 900
- Industry: IT Services & Outsourcing
- Nien Hsing Textile Co.
- of Employees to be Laid off: 700
- Industry: Textiles
- Surefox North America
- of Employees to be Laid off: 386
- Industry: Security
- Stellantis
- of Employees to be Laid off: 6400 (buyout)
- Industry: Automobile
- HannesBrands
- of Employees to be Laid off: 1592
- Alstom
- of Employees to be Laid off: 1500
- Industry: Manufacturing
- Embracer Group
- of Employees to be Laid off: 900
- Industry: Technology
- Maersk
- of Employees to be Laid off: 10,000
- Industry: Shipping & Ports
- Block
- of Employees to be Laid off: 1000
- Industry: Technology
- Pico Interactive
- of Employees to be Laid off: 2000
- Industry: Technology
- Viasat
- of Employees to be Laid off: 800
- Industry: Telecommunication
- Charles Schwab
- of Employees to be Laid off: 2000
- TVA Group
- of Employees to be Laid off: 500
- Splunk
- of Employees to be Laid off: 560
- Pfizer
- of Employees to be Laid off: 800
- VW Group
- of Employees to be Laid off: 2000
- British Steel
- of Employees to be Laid off: 2000
- AGCO
- of Employees to be Laid off: 900 (Furlough)
- Industry: Manufacturing
- Fox Fashion
- of Employees to be Laid off: 50% of Employees (Furlough)
- AMD
- of Employees to be Laid off: 450
- Nokia
- of Employees to be Laid off: 14000
- Rolls-Royce
- of Employees to be Laid off: 2500
- International Paper
- of Employees to be Laid off: 900
- LinkedIn
- of Employees to be Laid off: 668
- Qualcomm
- of Employees to be Laid off: 1260 (2.5% of the workforce)
- Sana Biotechnology
- of Employees to be Laid off: 29% of the workforce
- Industry: Healthcare
- Stellantis
- of Employees to be Laid off: 700
- Qualtrics
- of Employees to be Laid off: 780 (14% of the workforce)
- Hopper
- of Employees to be Laid off: 30% of Workforce
- General Motors and Ford Motor
- of Employees to be Laid off: 900
- Pushkin Industries
- of Employees to be Laid off: 30% of Workforce
- Byju’s
- of Employees to be Laid off: 5000
- Centene Corp.
- of Employees to be Laid off: 2000
- Epic Games
- of Employees to be Laid off: 830
- Airtable
- of Employees to be Laid off: 27% of Employees
- Deloitte UK
- of Employees to be Laid off: 800 (3% of Employees)
- Ford
- of Employees to be Laid off: 600
- Goodyear
- of Employees to be Laid off: 1200
- Slalom Consulting
- of Employees to be Laid off: 900
- Roku
- of Employees to be Laid off: 10% of its Employees
- Wilko
- of Employees to be Laid off: 1300
- Tyson Foods
- of Employees to be Laid off: 4600
- Farmers Insurance
- of Employees to be Laid off: 2400 (11% of Employees)
- T-Mobile
- of Employees to be Laid off: 5000
- Royal Bank of Canada (RBC)
- of Employees to be Laid off: 1800
- GM
- of Employees to be Laid off: 936
- Giant Foods
- of Employees to be Laid off: 400
- Matheson
- of Employees to be Laid off: 335
- Klaussner Furniture Industries
- of Employees to be Laid off: 800
- Cano Health
- of Employees to be Laid off: 700
- Credit Suisse
- of Employees to be Laid off: 80% of Employees
- Emergent BioSolutions
- of Employees to be Laid off: 400
- Yellow Corp
- of Employees to be Laid off: 30000
- Telus
- of Employees to be Laid off: 6000
- CVS Health
- of Employees to be Laid off: 5000
- BCE
- of Employees to be Laid off: 5000
- AT&T
- of Employees to be Laid off: 1000
- Accenture
- of Employees to be Laid off: 890
- Ericsson
- of Employees to be Laid off: 750
- Microsoft
- of Employees to be Laid off: 1000
- Lendlease
- of Employees to be Laid off: 750
- Regina Miracle
- of Employees to be Laid off: 8400
- Amdocs
- of Employees to be Laid off: 2000
- Viaplay
- of Employees to be Laid off: 1000
- Wall Green Boots
- of Employees to be Laid off: 393
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Important Takeaways:
- Layoffs surged 136% in January to second-highest level on record
- US job cuts skyrocket at beginning of 2024
- That is according to a new report published by Challenger, Gray & Christmas, which found that companies planned 82,307 job cuts in January, a substantial 136% increase from the previous month. However, that is down about 20% from the same time one year ago. It marked the second-highest layoff total for the month of January in data going back to 2009.
- “Waves of layoff announcements hit U.S.-based companies in January after a quiet fourth quarter,” said Andy Challenger, senior vice president of Challenger, Gray & Christmas. The cuts were “driven by broader economic trends and a strategic shift towards increased automation and AI adoption in various sectors, though in most cases, companies point to cost-cutting as the main driver for layoffs.”
- Financial companies bore the brunt of the job losses in January, with the industry shedding 23,238 employees. That is the highest monthly layoff total for the financial sector since September 2018, when it announced 27,343 job cuts.
- The technology sector followed with 15,806 layoffs, the most since May 2023 and a stunning 254% increase from just one month prior.
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Important Takeaways:
- Walt Disney’s Pixar Animation Studios is set to cut jobs as the studio has completed production on some shows and now has more staff than it needs, a source familiar with the situation told Reuters on Thursday.
- TechCrunch reported earlier that Pixar was set to undergo layoffs as high as 20% this year, with the studio’s team of 1,300 people reduced to under 1,000 over the coming months.
- Pixar’s Emeryville studio in California had hired staff to complete streaming series and as those shows complete production it has more staff than it needs, the source added.
- Disney did not immediately respond to a Reuters request for comment.
- Disney CEO Bob Iger, who was brought back in 2022 to turn the company around, has signaled the company will reduce streaming content it makes itself in a bid to keep a lid on costs, and will license shows and movies from third parties
- Pixar is famous for cinematic franchises including “Toy Story”, “The Incredibles” and “Finding Nemo”.
- Disney acquired Pixar in 2006 to revitalize its struggling Disney Animation.
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Important Takeaways:
- Xerox on Wednesday announced it will cut 15% of its workforce as part of a plan to implement a new organizational structure and operating model.
- Xerox, which offers digital printing and document management technologies, had about 20,500 employees as of Dec. 31, 2022, according to a filing with the U.S. Securities and Exchange Commission. Based on this figure, Wednesday’s layoffs will affect about 3,075 employees.
- Shares of Xerox closed down more than 12% following the announcement Wednesday.
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Important Takeaways:
- Citigroup begins layoffs as part of CEO Jane Fraser’s corporate overhaul
- Employees affected by the cuts will be informed starting Wednesday, with new dismissals announced daily through early next week, according to people with knowledge of the situation.
- Those impacted will include chiefs of staff, managing directors and some lower-level employees, said the people. The cuts will spread to more rank-and-file staff by February, they added.
- The move tracks with a timeline set by Fraser in a Sept. 13 memo. She announced five new divisions whose heads report directly to her, resulting in the departure of a handful of senior executives. The next phase of disruption will be “communicated and implemented by the end of November,” and “final changes” will be done by the end of March 2024, Fraser said at the time
- The full extent of job cuts is still being determined, but managers and consultants working on the project — known internally by its code name, “Project Bora Bora” — have discussed dismissals of at least 10% of workers in several businesses, CNBC reported last week.
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Important Takeaways:
- Job Cuts Drop 49% in June 2023, Lowest Total Since October 2022; Is the Tech Purge Over?
- U.S.-based employers announced 40,709 cuts in June, down 49% from the 80,089 cuts announced in May. It is up 25% from the 32,517 announced in the same month one year prior, according to a report released Thursday from global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc.
- Despite the drop, June’s total marks the sixth time this year when cuts were higher than the corresponding month a year earlier.
- Employers have announced 458,209 cuts so far this year, a 244% increase from the 133,211 cuts announced through June 2022. It is the highest first-half total since 2020, when 1,585,047 cuts were recorded. With the exception of 2020, it is the highest January to June total since 2009, when 896,675 job cuts were announced.
- Technology is leading in job cut announcements this year with 141,516, up 2,353% from the 5,769 cuts announced in the same period last year is now the second-highest total for the sector ever, with only 2001 leading.
- Retail companies announced the second-most job cuts this year with 48,212, a 718% increase from the 5,896 cuts announced in the sector during the same time last year.
- Financial firms announced the third-most cuts so far in 2023 with 39,768, up 268% from the 10,800 cuts announced in the sector in the first half of 2022. Health Care/Products companies and manufacturers, including hospitals, announced 38,279, up 97% from the 19,390 cuts in the first half of last year.
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Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Job Cuts Hit 77,770 In February 2023; Highest YTD Since 2009
- In the shortest month of the year, U.S.-based employers announced 77,770 job cuts in February
- It is 410% higher than the 15,245 cuts announced in the same month last year, according to a report released
- February’s total is the highest for the month since 2009, when 186,350 cuts were recorded. So far this year, employers announced plans to cut 180,713 jobs, up 427% from the 34,309 cuts announced in the first two months of 2022. It is the highest January-February total since 2009 when a total of 428,099 job cuts were announced in January and February.
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Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Disney to lay off 7,000 workers, cut $5.5 billion worth of costs in latest reshuffle
- Disney (DIS) will lay off 7,000 workers as the company seeks to slash $5.5 billion in costs. As a result, the media giant plans to restructure the organization into three core business segments: Disney Entertainment, ESPN, and Disney Parks, Experiences and Products.
- “While this is necessary to address the challenges we’re facing today, I do not make this decision lightly…
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Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Over 100K job cuts announced in January: analysis
- Last month was the worst January for job cuts since the Great Recession in 2009
- U.S. companies announced roughly 103,000 job cuts in January
- Around 40 percent of last month’s job reductions came in the tech industry, where Google parent company Alphabet, Amazon, Microsoft and Salesforce announced plans to lay off thousands of workers. Many of the companies said they grew too quickly in recent years and must cut costs
- Retailers announced 13,000 job cuts, the second most of any industry
- The real estate industry cut 2,200 jobs, while construction companies cut roughly 1,100 jobs.
- The firings come as companies gear up for an expected economic slowdown driven by the Federal Reserve’s interest rate hikes.
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Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Boeing to slash 2,000 jobs to ‘simplify’ corporate structure, reportedly outsource some jobs overseas
- Boeing is planning to slash around 2,000 jobs this year, primarily in finance and human resources, to simplify its corporate structure.
- The Seattle Times reports that around one-third of those jobs will be outsourced to Tata Consulting Services in India.
- “Over time, some of our corporate functions have grown quite large,” Mike Friedman, a Boeing spokesperson, told The Times. “And with that growth tends to come bureaucracy or disparate systems that are inefficient.”
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