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Companies such as UPS, Meta, Microsoft, BlackRock, and Block are conducting layoffs.
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Artificial intelligence is reshaping some workforces.
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See the list of companies letting workers go in 2025.
Layoffs and other workforce reductions are continuing in 2025, following two years of significant job cuts across tech, media, finance, manufacturing, retail, and energy.
While the reasons for slimming staff vary, the cost-cutting measures are coming amid a backdrop of technological change. In a recent World Economic Forum survey, some 41% of companies worldwide said they expected to reduce their workforces over the next five years because of the rise of artificial intelligence.
Companies such as CNN, Dropbox, and Block have previously announced job cuts related to AI. Tech jobs in big data, fintech, and AI are meanwhile expected to double by 2030, according to the WEF.
Here are the companies with job cuts planned or already underway in 2025 so far.
Coty is cutting about 700 jobs
Coty, which sells the cosmetics and fragrances under brands including Kylie Cosmetics, Calvin Klein, and Burberry, is cutting about 700 jobs.
The company said on April 24 it aimed to cut costs by $130 million a year. Sue Nabi, the CEO, said it aimed to build a "stronger, more resilient Coty that is well-positioned for sustainable growth."
Adidas plans to cut up to 500 jobs in Germany.
Adidas said in January that it would reduce the size of its workforce at its headquarters in Herzogenaurach, Germany, affecting up to 500 jobs, CNBC reported.
If fully executed, it amounts to a reduction of nearly 9% at the company headquarters, which employs about 5,800 employees, according to the Adidas website.
The news came shortly after the company announced it had outperformed its profit expectations at the end of 2024, touting "better-than-expected" results in the fourth quarter.
An Adidas spokesperson said the company had grown "too complex because of our current operating model."
"To set adidas up for long-term success,we are now starting to look at how we align our operating model with the reality of how we work. This may have an impact on the organizational structure and number of roles based at our HQ in Herzogenaurach."
The company said it is not a cost-cutting measure and could not confirm concrete numbers.
Ally is cutting less than 5% of workers.
The digital-financial-services company Ally is laying off roughly 500 of its 11,000 employees, a spokesperson confirmed to BI.
"As we continue to right-size our company, we made the difficult decision to selectively reduce our workforce in some areas, while continuing to hire in our other areas of our business," the spokesperson said.
The spokesperson also said the company was offering severance, out-placement support, and the opportunity to apply for openings at Ally.
Ally made a similar level of cuts in October 2023, the Charlotte Observer reported.
Automattic, Tumblr's parent, cuts 16% of staff
Automattic, the parent company of Tumblr and WordPress, said in April it is cutting 16% of its staff globally. The company's website said it has nearly 1,500 employees.
Automattic's CEO, Matt Mullenweg, said in a note to employees posted online that the company has reached an "important crossroads."
"While our revenue continues to grow, Automattic operates in a highly competitive market, and technology is evolving at unprecedented levels," the note read.
"As difficult as this decision has been, the company is restructuring to improve its "productivity, profitability, and capacity to invest," it added.
The company said it was offering severance and job placement resources to affected employees.
BlackRock is cutting 1% of its workforce.
BlackRock told employees it was planning to cut about 200 people of its 21,000-strong workforce, Bloomberg reported in January.
The reductions were more than offset by some 3,750 workers who were added last year and another 2,000 expected to be added in 2025.
BlackRock's president, Rob Kapito, and its chief operating officer, Rob Goldstein, said the cuts would help realign the firm's resources with its strategy, Bloomberg reported.
Block to lay off nearly 1,000 workers
Jack Dorsey's fintech company, Block, is laying off nearly 1,000 employees, according to TechCrunch and The Guardian, in its second major workforce reduction in just over a year.
The company, which operates Square, Afterpay, CashApp, and Tidal, is transitioning nearly 200 managers into non-management roles and closing almost 800 open positions, according to an email obtained by TechCrunch.
Dorsey, who co-founded Block in 2009 after previously leading Twitter, announced the layoffs on Tuesday in an internal email titled "smaller block."
The restructuring is part of a broader effort to streamline operations, though Block maintains the changes are not driven by financial targets or AI replacements.
Blue Origin
Jeff Bezos's rocket company, Blue Origin, is laying off about 10% of its workforce, a move that could affect more than 1,000 employees.
In a memo sent to staff in February and obtained by Business Insider, David Limp, the CEO of Blue Origin, said the company's priority going forward was "to scale our manufacturing output and launch cadence with speed, decisiveness and efficiency for our customers."
Limp specifically identified roles in engineering, research and development, and management as targets.
"We grew and hired incredibly fast in the last few years, and with that growth came more bureaucracy and less focus than we needed," Limp wrote. "It also became clear that the makeup of our organization must change to ensure our roles are best aligned with executing these priorities."
The news comes after last month's debut launch of the company's partially reusable rocket — New Glenn.
Boeing cut 400 roles from its moon rocket program
Boeing announced on February 8 it plans to cut 400 roles from its moon rocket program amid delays and rising costs related to NASA's Artemis moon exploration missions.
Artemis 2, a crewed flight to orbit the moon on Boeing's space launch system, has been re-scheduled from late 2024 to September 2025. Artemis 3, intended to be the first astronaut moon landing in the program, was delayed from late 2025 and is now planned for September 2026.
"To align with revisions to the Artemis program and cost expectations, we informed our Space Launch Systems team of the potential for approximately 400 fewer positions by April 2025," a Boeing spokesperson told Business Insider. "We are working with our customer and seeking opportunities to redeploy employees across our company to minimize job losses and retain our talented teammates."
The company will issue 60-day notices of involuntary layoff to impacted employees "in coming weeks," the spokesperson said earlier this month.
Boeing cut 10% of its workforce last year.
BP slashed 7,700 staff and contractor positions worldwide.
BP told Business Insider in January that it planned to cut 4,700 staff and 3,000 contractors, amounting to about 5% of its global workforce.
The cuts were part of a program to "simplify and focus" BP that began last year.
"We are strengthening our competitiveness and building in resilience as we lower our costs, drive performance improvement and play to our distinctive capabilities," the company said.
Bridgewater cut about 90 staff.
Bridgewater Associates cut 7% of its staff in January in an effort to stay lean, a person familiar with the matter told Business Insider.
The layoffs at the world's largest hedge fund bring its head count back to where it was in 2023, the person said.
The company's founder, Ray Dalio, said in a 2019 interview that about 30% of new employees were leaving the firm within 18 months.
Chevron is slashing up to 20% of its global headcount
Oil giant Chevron plans to cull 15% to 20% of its global workforce by the end of 2026, the company said in a statement to Business Insider in February.
Chevron employed 45,600 people as of December 2023, which means the layoff could cut 9,000 jobs.
The move aims to reduce costs and simplify the company's business as it completes its acquisition of oil producer Hess, which is held up in legal limbo. It is expected to save the company $2 billion to $3 billion by the end of 2026, the company said.
"Chevron is taking action to simplify our organizational structure, execute faster and more effectively, and position the company for stronger long-term competitiveness," a Chevron spokesperson said in a statement.
The cuts follow a series of layoffs at other oil and gas companies, including BP and natural gas producer EQT.
CNN plans to cut 200 jobs.
Cable news giant CNN cut about 200 television-focused roles as part of a digital pivot. The cuts amounted to about 6% of the company's workforce.
In a memo sent to staff on January 23, CNN's CEO Mark Thompson said he aimed to "shift CNN's gravity towards the platforms and products where the audience themselves are shifting and, by doing that, to secure CNN's future as one of the world's greatest news organizations."
Estée Lauder will cut as many as 7,000 jobs
Cosmetics giant Estée Lauder said in its second-quarter earnings release on February 4 that it will cut between 5,800 and 7,000 jobs as the company restructures over the next two years.
The cuts will focus on "rightsizing" certain teams, and it will look to outsource certain services. The company says it expects annual gross benefits of between $0.8 billion and $1.0 billion before tax.
GrubHub announced 500 job cuts
Grubhub CEO Howard Migdal announced 500 job cuts on February 28 after selling the company to Wonder Group for $650 million.
With more than 2,200 full time employees, the number of cuts will affect more than 20% of Grubhub's previous workforce.
According to Reuters, Just Eat Takeaway, an Amsterdam-listed company, sold Grubhub at a steep loss compared to the billions it paid a few years prior after grappling with slowing growth and high taxes.
HPE is laying off 2,500 employees
Hewlett Packard Enterprise is cutting 2,500 jobs, or 5% of its employee base, CEO Antonio Neri said on an earnings call on March 6. The cuts are expected take to take place over the next 12 to 18 months.
"Doing so will better align our cost structure to our business mix and long-term strategy," Neri said. The company expects to save $350 million by 2027 because of the reduction.
HPE plummeted about 20% after hours on March 6 after it said business would be affected by recent tariffs, slow server and cloud sales, and "execution issues."
Johns Hopkins University
Johns Hopkins University will cut over 2,000 jobs after losing $800 million in funding from USAID.
"This is a difficult day for our entire community," a spokesperson told BI. "The termination of more than $800 million in USAID funding is now forcing us to wind down critical work here in Baltimore and internationally."
The news comes after the Trump administration slashed USAID personnel down from over 10,000 to around 300. Secretary of State Marco Rubio recently confirmed that 83% of the agency's programs are now dead.
"We can confirm that the elimination of foreign aid funding has led to the loss of 1,975 positions in 44 countries internationally and 247 in the United States in the affected programs," the Johns Hopkins spokesperson said. "An additional 29 international and 78 domestic employees will be furloughed with a reduced schedule."
The layoffs at Johns Hopkins represent the "largest" in the university's history, CNN reported. They'll primarily affect the schools of medicine and public health, along with the Center for Communication Programs and Jhpiego, a nonprofit with a focus on preventing diseases and bolstering women's health, according to the report.
Kohl's is reducing about 10% of its roles
Department store Kohl's announced on January 28 that it reduced about 10% of its corporate roles to "increase efficiencies" and "improve profitability for the long-term health and benefit of the business," a spokesperson told BI.
"Kohl's reduced approximately 10 percent of the roles that report into its corporate offices," the spokesperson said. "More than half of the total reduction will come from closing open positions while the remainder of the positions were currently held by our associates."
Less than 200 existing employees of the company would be impacted, she added.
This follows the company's announcement on January 9 that it would shutter 27 underperforming stores across 15 states by April.
The retailer has been struggling with declining sales, reporting an 8.8% decline in net sales in the third quarter of 2024.
Its previous CEO, Tom Kingsbury, stepped down on January 15. The company's board appointed Ashley Buchanan, a retail veteran who had held top jobs in The Michaels Companies, Macy's, and Walmart, as the new CEO.
Meta is cutting 5% of its workforce.
Meta CEO Mark Zuckerberg told staff he "decided to raise the bar on performance management" and will act quickly to "move out low-performers," according to an internal memo seen by BI in January.
Those cuts started in February, according to records obtained by BI. Teams overseeing Facebook, the Horizon virtual reality platform, as well as logistics were among the hardest hit.
In April, Meta also laid off an undisclosed number of employees on the Reality Labs virtual reality division.
Previously, the company had laid off more than 21,000 workers since 2022.
Microchip Technology is slashing 2,000 jobs
Microchip Technology is cutting its head count across the company by around 2,000 employees, the semiconductor company said on March 3.
The company estimated that it would incur between $30 million and $40 million in costs, including severance, severance benefits, and other restructuring costs.
The cuts would be communicated to employees in the March quarter and fully implemented by the end of the June quarter.
Last year, Microchip announced it was closing its Tempe, Arizona, facility because of slower-than-anticipated orders. The closure begins in May 2025 and is expected to affect 500 jobs.
Microchip's stock had fallen over 33% in the past year.
Microsoft made performance-based job cuts in January
Microsoft cut an unspecified number of jobs in January based on employees' performance.
Workers were told that they wouldn't receive severance and that their benefits, such as medical insurance, would stop immediately, BI reported.
The company also laid off some employees in January at divisions including gaming and sales. A Microsoft spokesperson declined to say how many jobs were cut on the affected teams.
Morgan Stanley plans cuts for the end of March
Morgan Stanley is set to initiate a round of layoffs beginning at the end of March. The firm is eyeing cuts to about 2% to 3% of its global workforce, which would equate to between 1,600 to 2,400 jobs, according to a person familiar with the matter who confirmed the reductions to BI.
The firm's cuts are driven by several imperatives, the person said, pointing to considerations like operational efficiency, evolving business priorities, and individual employees' performance. The person said the cuts are not related to broader market conditions, such as the recent slowdown in mergers and acquisitions that's arrested momentum on Wall Street.
Some MS staffers will be excluded from the cuts, however — namely, the bank's battalion of financial advisors — though some who assist them, such as administrative personnel in its wealth-management unit, could be affected by the layoffs, the person added.
Porsche is cutting 3,900 jobs over the next few years
Porsche said on March 12 that it plans to cut 3,900 jobs in the coming years.
About 2,000 of the reductions will come with the expiration of fixed-term contractor positions, the German automaker said Wednesday. The company will make the other 1,900 reductions by 2029 through natural attrition and limiting hiring, it said.
Porsche said it also plans to discuss more potential changes with labor leaders in the second half of the year. "This will also make Porsche even more efficient in the medium and long term," the company said.
Salesforce is cutting more than 1,000 jobs
Bloomberg reported in February that Salesforce, a cloud-based customer management software company, will slash more than 1,000 jobs from its nearly 73,000-strong workforce.
Affected employees will be eligible to apply to open internal roles, the outlet reported. The company is hiring salespeople focused on the company's new AI-powered products.
The cuts come despite Salesforce reporting a strong financial performance during its third-quarter earnings in December.
Salesforce did not immediately respond to a request for comment.
Sonos cuts about 200 jobs
Sonos, a California-based audio equipment company, said in a February 5 release that it's cutting about 200 roles.
The announcement came nearly a month after Sonos CEO Patrick Spence stepped down from his position following a disastrous app rollout. The company's interim CEO Tom Conrad said in the statement that the layoff was part of an effort to create a "simpler organization."
"One thing I've observed firsthand is that we've become mired in too many layers that have made collaboration and decision-making harder than it needs to be," Conrad said. "So across the company today we are reorganizing into flatter, smaller, and more focused teams."
Southwest Airlines
Southwest Airlines CEO Bob Jordan announced in February that the company is laying off 15% of its corporate staff, or about 1,750 employees.
He said impacted workers will keep their pay, benefits, and bonuses through late April, when the separations will take effect.
The company told investors the cuts would provide a "partial year 2025 savings to be approximately $210 million and full-year 2026 savings to be approximately $300 million."
The move comes as Southwest tries to cut costs amid profitability problems. Jordan said this is the first significant layoff the company has had in its 53-year history.
An activist hedge fund took a stake in Southwest in June and has since helped restructure its board and change its business model to keep up with a changing industry. For example, it plans to end its long-standing open-seating policy to generate more seating revenue.
In recent months, the company has also reduced flight crew positions in Atlanta to cut costs.
Starbucks is laying off 1,100 corporate staff
Starbucks will notify 1,100 corporate employees that they have been laid off on February 25.
CEO Brian Niccol said in a memo that the layoffs will make Starbucks "operate more efficiently, increase accountability, reduce complexity and drive better integration."
The layoffs won't affect employees at Starbucks stores, the company said.
Niccol told employees that layoffs were on the way in a separate memo in January. The company is trying to improve results after sales slid last year.
Workday cut more than 8% of its workforce
Workday, the human-resources software company, said in February that it is cutting 8.5% of its workforce, or around 1,750 employees. The layoffs came as the company focuses more on artificial intelligence.
In a note to employees, CEO Carl Eschenbach said that Workday will focus on hiring in areas related to artificial intelligence and work to expand its global presence.
"The environment we're operating in today demands a new approach, particularly given our size and scale," Eschenbach wrote. He said that affected employees will get at least 12 weeks of pay.
Stripe laid off 300 employees
Payments platform Stripe laid off 300 employees, primarily in product, engineering, and operations, according to a January 20 memo obtained by BI.
Chief People Officer Rob McIntosh said in the memo that the company still planned on growing its head count to about 10,000 employees by the end of the year.
The Washington Post cut 4% of its non-newsroom workforce.
The Washington Post eliminated less than 100 employees in an effort to cut costs, Reuters reported in January.
A spokesperson told the wire service that the changes would occur across multiple areas of the business and indicated that the cuts wouldn't affect the newsroom.
"The Washington Post is continuing its transformation to meet the needs of the industry, build a more sustainable future and reach audiences where they are," the spokesperson said, according to Reuters.
UPS is cutting 20,000 jobs
UPS announced on April 29 that it plans to cut 20,000 jobs this year — about 4% of its global workforce — as part of a shift toward automation and a strategic reduction in business with Amazon.
"With our action, we will emerge as an even stronger, more nimble UPS," the company's CEO, Carol Tomé, said in a statement on Tuesday.
The move follows a sharp 16% drop in Amazon package volume last quarter and is part of a plan to halve its Amazon business by mid-2026. UPS will also close 73 US buildings by June and automate 400 facilities to reduce labor dependency.
The Teamsters union have said they would fight any layoffs affecting its members.
Wayfair laid off 340 tech employees
Wayfair announced in an SEC filing on March 7 that it would eliminate its Austin Technology Development Center and lay off around 340 tech workers.
The reorg comes as the technology team has accomplished "significant modernization and replatforming milestones," the company said in the filing. Wayfair said it plans to refocus resources and streamline operations to promote its "next phase of growth."
"With the foundation of this transformation now in place, our technology needs have shifted," the company said.
Wayfair expects to take on $33 to $38 million in costs as a result of the reorganization, consisting of severance, cash employee-related costs, benefits, and transitional costs.
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