Rising layoffs worldwide: Check out companies cutting jobs now

The job market is facing turbulent times as layoffs continue to mount, raising anxiety among workers worldwide. Economic uncertainty, rising operational costs, corporate restructuring and heavy investments in AI are contributing to a global wave of job cuts.

‘AI’s appetite for cash may be taking jobs’

According to Jason Schloetzer, professor of business administration at Georgetown University, “it’s not so much AI directly taking jobs, but AI’s appetite for cash that might be taking jobs.” Companies are reallocating resources, prioritising infrastructure and innovation over employment in certain sectors.

Federal workers feeling the heat

Federal employees are also experiencing uncertainty, with job cuts and delayed paychecks amid a prolonged US government shutdown. “A lot of people are scanning the job environment… there’s a question mark around long-term stability everywhere,” Schloetzer added.

Companies leading the layoff wave

• Amazon: Cutting ~14,000 corporate jobs (~4% of workforce) to ramp up AI investments.
• UPS: Eliminating ~48,000 jobs this year, including 34,000 operational roles.
• Target: Removing ~1,800 corporate positions (~8% of global corporate workforce).
• Nestlé: Cutting 16,000 jobs globally over the next two years due to rising costs.
• Lufthansa Group: Shedding 4,000 administrative jobs by 2030 amid AI and digitalisation.
• Novo Nordisk: Laying off 9,000 employees (~11% of workforce) as part of restructuring.
• ConocoPhillips: Plans to cut 20–25% of workforce (~2,600–3,250 jobs).
• Intel: Reducing core workforce from 99,500 to 75,000 through layoffs and attrition.
• Microsoft: Cutting ~15,000 jobs in multiple rounds, including Xbox divisions.
• Procter & Gamble: Eliminating up to 7,000 jobs (6% of global workforce) amid restructuring.

Workers across sectors are left uncertain, scanning for new opportunities as companies reshape their operations to stay competitive.

AP