27 Companies Laying Off Thousands of Workers

Advertising Disclosure: When you buy something by clicking links on our site, we may earn a small commission, but it never affects the products or services we recommend.

Man laid off from work or got fired from an accounting or office job
OlhaTsiplyar / Shutterstock.com

Millions of Americans remain uneasy about the future of the economy. Some experts are forecasting that an economic downturn could be just over the horizon.

Many big companies have announced layoffs of 1,000 employees or more. Some of these companies are trying to restructure, while others appear to be getting lean and mean before a downturn potentially arrives.

Following is a roll call of the firms slimming their workforces.


Roman Tiraspolsky / Shutterstock.com

In April, the ride-hailing app Lyft announced it would cut staffing by 1,072 employees in an attempt to control costs.

The reductions amount to about 26% of its workforce. Lyft is just one of many companies in the tech industry to undergo a devastating wave of layoffs in recent months.


JHVEPhoto / Shutterstock.com

The Financial Times reported in April that Deloitte would lay off 1,200 employees.

Deloitte is one of the so-called “big four” accounting firms. Many of the layoffs were concentrated in Deloitte’s financial advisory business, which felt the effects of a slowdown in merger and acquisition activity.

Ernst & Young

Ernst & Young
Michael Vi / Shutterstock.com

Deloitte’s rival Ernst & Young also is laying off a lot of workers.

Shortly before the Deloitte announcement, Ernst & Young said it would lay off 3,000 workers. That is about 5% of the accounting firm’s workforce.

David’s Bridal

David's Bridal
Andriy Blokhin / Shutterstock.com

In April, David’s Bridal filed for bankruptcy and announced plans to eliminate 9,236 positions through August.

At the time of the announcement, David’s Bridal had about 10,000 employees.


Walmart store
Idealphotographer / Shutterstock.com

Iconic big-box retailer Walmart announced in April that it would cut 2,000 positions at five of its warehouses.

The decision was revealed just weeks after Walmart forecast a tough year ahead thanks to slowing sales and profit growth.

Bed Bath & Beyond

Shoppers at a Bed Bath & Beyond store
Lawrence Glass / Shutterstock.com

Bed Bath & Beyond filed for Chapter 11 bankruptcy at the end of April. The retailer will close all of its stores, putting up to 30,000 jobs in jeopardy.


3M sign
Ken Wolter / Shutterstock.com

In April, 3M announced it would lay off an additional 6,000 employees at its operations around the world.

The news came on the heels of an announcement earlier in the year that 2,500 employees would lose their jobs at 3M.

If you are an older worker who has lost a job, make sure to avoid the “9 Ways to Screw Up a Job Search When You’re 50 or Older.”


OleksSH / Shutterstock.com

Irish-American professional services company Accenture lowered the boom on 19,000 jobs at the end of March.

That 2.5% of its workforce is expected to be part of Accenture layoffs that will roll out over an 18-month period.


Derick P. Hudson / Shutterstock.com

Late in March, job-listing company Indeed announced it would reduce its workforce by 2,200 positions. The cuts amounted to about 15% of the workforce.


Amazon Prime van
Janet Julie Vanatko / Shutterstock.com

Beginning last November and running through January, Amazon laid off around 18,000 employees. The cuts impacted several divisions, including devices, human resources and stores.

In March, Amazon announced another wave of 9,000 layoffs. That round of job cuts impacted cloud computing, human resources, advertising and Twitch livestreaming businesses.


Tyson Foods Complex in Lancaster County, Pennsylvania
George Sheldon / Shutterstock.com

Tyson Foods is in the process of laying off 1,700 workers and closing two chicken plants — in Van Buren, Arkansas, and Glen Allen, Virginia.

It also has announced additional layoffs, including up to 10% of corporate roles and 15% of senior leadership positions.

Meta Platforms

Meta headquarters -- Menlo Park, California
askarim / Shutterstock.com

Meta Platforms Inc. — which owns Facebook, Instagram and WhatsApp — has announced two rounds of layoffs that will result in about 21,000 employees losing their jobs.

Layoffs in April focused on technical workers. In May, job cuts began in the company’s business groups.


Vladimka production / Shutterstock.com

In February, cloud communications software company Twilio announced plans to lay off around 1,500 employees. In an email to workers, CEO Jeff Lawson said the move was necessary to keep the company competitive.

The cuts follow a wave of layoffs at Twilio last September.

News Corp.

News Corp.
Leonard Zhukovsky / Shutterstock.com

Rupert Murdoch’s media company News Corp. — which owns The Wall Street Journal, Barron’s, the New York Post and HarperCollins — is laying off 1,250 workers, or about 5% of the company’s workforce.

The job losses will occur by the end of the year. A challenging advertising market might be behind the layoffs, CNBC reports.


Yahoo building
JHVEPhoto / Shutterstock.com

Yahoo said in February that it planned to lay off 20% of its workforce.

The move is part of a restructuring of its advertising unit and will likely impact more than 1,600 employees, including nearly 50% of workers in the advertising unit, CNN reports.


JHVEPhoto / Shutterstock.com

In part of a major overhaul, Disney will reorganize into three divisions — entertainment, ESPN, and parks, experiences and products — and eliminate about 7,000 jobs.

The goal is to cut around $5.5 billion in costs.


Zoom logo
Michael Vi / Shutterstock.com

Communications technology company Zoom cut 15% of its workforce, or 1,300 employees, earlier this year.

In a Feb. 7 blog post on the company website, CEO Eric Yuan said uncertainty around the global economy forced the company to cut back.


Richard Frazier / Shutterstock.com

Dow announced plans in January to lay off about 2,000 employees worldwide.

The chemical company said it wants to cut $1 billion in expenses to help it cope with a slowing economy and drooping demand.


JuliusKielaitis / Shutterstock.com

In January, IBM announced plans to cut about 1.5% of its workforce. In a Jan. 25 interview with Bloomberg, CFO James Kavanaugh estimated that around 3,900 workers would lose their jobs.


nitpicker / Shutterstock.com

Earlier this year, Europe’s largest software company eliminated 2.5% of its workforce worldwide. That meant roughly 2,800 employees got pink slips.

However, by March, SAP was back in hiring mode.

Goldman Sachs

Piotry Swat / Shutterstock.com

In January, investment bank Goldman Sachs began the first of what it said would be 3,200 layoffs.

A slowing economy and woes in both retail and investment banking led to the company’s move.


Nadezda Murmakova / Shutterstock.com

Coinbase announced in January that it would cut its workforce by about 950 workers. The announcement arrived just a few months after the cryptocurrency exchange platform laid off 1,100 workers.

The wave of layoffs at Coinbase reveals how quickly economic conditions are changing. Just one year ago, Coinbase was projecting it would add 2,000 new employees.


Jonathan Weiss / Shutterstock.com

In late 2022, online used-car dealer Carvana said it was laying off 1,500 employees, or around 8% of its workforce.

In an email to employees, CEO Ernie Garcia said the company is cutting back due to economic conditions such as higher financing costs and delayed car purchasing.

Cisco Systems

Cisco Sign
Sundry Photography / Shutterstock.com

Networking firm Cisco Systems announced in November that it was shedding more than 4,000 jobs, or about 5% of its workforce.

The cuts are part of a planned $600 million restructuring. However, the company noted that it will hire for new roles in the wake of the restructuring and planned to end the current fiscal year with roughly the same number of employees as before the layoffs.


Hewlett-Packard -- HP France
HJBC / Shutterstock.com

Information technology company Hewlett-Packard announced layoffs that could result in 4,000 to 6,000 employees getting pink slips by the end of 2025.

The job cuts are part of a plan to generate savings “through digital transformation, portfolio optimization and operational efficiency,” according to an HP press release in November 2022.


rarrarorro / Shutterstock.com

Online payments firm Stripe said in early November that it was laying off roughly 14% of its staff. According to a CNBC report:

“Stripe said its head count will be reduced to about 7,000 employees, which means the layoffs will impact roughly 1,100 people. A Stripe spokesperson was not immediately available to provide the exact number of impacted employees.”

X (formerly known as Twitter)

Twitter building
Michael Vi / Shutterstock.com

In a highly publicized round of layoffs, owner Elon Musk significantly reduced the workforce of what was then known as Twitter, now X Corp.

According to a CNN report:

“Musk appeared to frame the sweeping layoffs as necessary for a company that, like other social media firms, was experiencing ‘revenue challenges’ prior to his acquisition as advertisers rethink spending amid recession fears.”

The layoffs — and an estimated 1,000 resignations since Musk took over — mean the company’s employee roster has shrunk significantly. After another 200 people lost their jobs in February 2023, it was reported that the company employed fewer than 2,000 workers, down from 7,500 prior to Musk’s acquisition.

Get smarter with your money!

Want the best money-news and tips to help you make more and spend less? Then sign up for the free Money Talks Newsletter to receive daily updates of personal finance news and advice, delivered straight to your inbox. Sign up for our free newsletter today.