14 Companies Laying Off Thousands of Workers in 2024

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Sad, laid-off worker
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A long-predicted economic recession has not yet come to pass. But that does not mean workers everywhere can breathe easy.

Even though the U.S. economy continues to perform well, thousands of workers are receiving pink slips at some of America’s best-known companies.

Following is a roll call of the firms slimming their workforces in 2024.


Nike global headquarters in Washington state
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A large restructuring at Nike means 2% of the workforce — or about 1,500 employees — are getting pink slips.

The first round of layoffs at the shoe manufacturer took place in February, and a second round is expected by the end of May.

In a memo obtained by CNBC in February, CEO John Donahoe said the company is not “currently performing at our best” and the restructuring is intended to “reignite our growth.”


Cisco Sign
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Technology company Cisco announced plans in February to lay off 5% of its global workforce. That would mean at least 4,000 workers would be out of jobs.

Cisco says the layoffs are part of a shift toward focusing on “key priority areas,” including artificial intelligence. The job cuts are expected to begin this year and continue into 2025.

Expedia Group

Corporate headquarters for Vrbo in Austin, Texas
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American travel technology firm Expedia Group — which owns everything from Hotels.com to Vrbo — plans to lay off about 1,500 employees this year.

In an internal memo late in February, CEO Peter Kern wrote that the company was “obliged to take a close look at roles, skills, teams, and locations to ensure that our resources are focused in the right areas.”

He added that the review would result in “eliminating some roles.”

Estée Lauder

Estée Lauder
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In February, Estée Lauder Co. said it would cut between 3% and 5% of its staff as part of a restructuring effort.

The beauty company has around 62,000 workers, so that means the layoffs — which will begin in its fiscal third quarter — would likely impact at least 1,860 workers.


PayPal headquarters
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Online payment system PayPal plans to eliminate around 2,500 jobs throughout the rest of 2024.

In an internal letter to employees in January, CEO Alex Chriss wrote that the company needs to “drive more focus and efficiency, deploy automation, and consolidate our technology to reduce complexity and duplication.”


Google headquarters
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Since early January, Google laid off more than 1,000 employees. And the job cuts are unlikely to end there.

In an internal memo, CEO Sundar Pichai told employees that the company has “big priorities” and “ambitious goals” for this year. But to achieve those objectives, the company will have to make more “tough choices” that might impact some workers’ roles, Pichai wrote.


Corporate headquarters of eBay Inc. in San Jose, California
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Late in January, online retailer eBay announced it would trim its workforce by around 9%. That meant the elimination of 1,000 jobs.

In a company memo, CEO Jamie Iannone said the moves were intended to make eBay “more nimble.” Iannone also announced plans to reduce the number of contractors it hires.


Microsoft corporate headquarters in Redmond, Washington
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Microsoft laid off 1,900 employees at Activision Blizzard and Xbox early in January. The moves came about three months after Activision, Blizzard and King joined Microsoft.

Most of the job cuts to the Microsoft Gaming division impacted workers at Activision Blizzard.


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Xerox announced in January that it will shed about 15% of its jobs in an attempt to create a new organizational structure and operating model, CNBC reports. Job losses likely will total more than 3,000 positions, according to CNBC.

In March, Xerox started notifying workers about the layoffs.


UPS delivery driver
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UPS says shipping volume has been dipping, both in the U.S. and internationally. On a Jan. 30 company earnings call, CEO Carol Tome characterized 2023 as “a unique, and quite candidly, difficult and disappointing year.”

To make sure the company stays on track, UPS plans to lay off 12,000 employees this year in an effort to align resources.


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Online home goods retailer Wayfair will trim its payroll by 1,650 workers, 13% of its global workforce, in 2024.

CNN reports that Wayfair CEO Niraj Shah posted an open letter in January stating that Wayfair “went overboard in hiring during a strong economic period.” The company is now retrenching as business has slowed.


Nils Versemann / Shutterstock.com

Citigroup said in January that it planned to cut 20,000 jobs in an attempt to save as much as $2.5 billion, according to a Bloomberg report.

The publication reports that the job losses are part of CEO Jane Fraser’s efforts to improve the company’s lagging performance in the stock market.


rblfmr / Shutterstock.com

BlackRock plans to lay off 600 employees, or about 3% of its workforce, according to a Bloomberg report.

In a January memo to employees, BlackRock CEO Larry Fink said the job cutbacks were the result the of the asset-management industry “changing faster than at any time since the founding of BlackRock.”

Unity Software

Unity Software
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Video game software provider Unity Software announced in January that it will lay off 25% of its staff, which amounts to 1,800 jobs, Reuters reports.

The company announced a “reset” late last year and now plans to focus more heavily on its core business.

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