Charles Esther
Layoffs and other workforce reductions are continuing in 2025, following two years of significant job cuts across various industries, including tech, media, finance, manufacturing, retail, and energy.
While the reasons for slimming down staff vary, many companies are enacting cost-cutting measures amidst technological shifts, particularly driven by the rise of artificial intelligence (AI). According to a recent World Economic Forum survey, 41% of companies worldwide expect to reduce their workforces over the next five years because of AI.
Companies Cutting Jobs in 2025 So Far
Here is a list of some companies with job cuts planned or already underway in 2025.
Coty to Cut About 700 Jobs
Coty, the cosmetics giant known for brands like Kylie Cosmetics, Calvin Klein, and Burberry, announced on April 24 that it would cut around 700 jobs. This move is part of a strategy to cut costs by $130 million annually. CEO Sue Nabi stated the goal was to build a stronger and more resilient Coty, well-positioned for sustainable growth.
Adidas Plans Job Cuts in Germany
Despite strong performance in 2024, Adidas is planning to reduce its workforce at its headquarters in Herzogenaurach, Germany, by up to 500 jobs. If fully executed, this would result in a nearly 9% reduction in its headquarters staff. Adidas explained the cuts stemmed from the company’s growing complexity due to its current operating model.
Ally Bank Cuts Less Than 5% of Its Workforce
Ally, a digital financial services company, is laying off about 500 employees, which is less than 5% of its workforce. This move is part of a broader restructuring effort. Ally emphasized that the reductions are focused on certain areas of the business, while other areas continue to hire. The company is offering severance packages and job placement resources to those affected.
Automattic (Tumblr’s Parent) Cuts 16% of Its Global Workforce
Automattic, the parent company of Tumblr and WordPress, announced in April that it would be reducing its staff by 16% globally. CEO Matt Mullenweg explained that while the company’s revenue is still growing, it is operating in a highly competitive market, and technological evolution necessitates the restructuring. The company is offering severance and job placement resources to affected employees.
BlackRock to Cut 1% of Its Workforce
BlackRock, a global investment management firm, is cutting about 1% of its workforce, translating to roughly 200 positions. This move is part of a broader effort to realign resources with the firm’s strategy, following the addition of thousands of new positions in the previous year.
Block to Lay Off Nearly 1,000 Employees
Jack Dorsey’s fintech company, Block, is laying off nearly 1,000 employees in its second major workforce reduction in just over a year. The company is transitioning nearly 200 managers into non-management roles and closing about 800 open positions as part of a restructuring initiative.
Blue Origin to Lay Off 10% of Its Workforce
Blue Origin, the rocket company owned by Jeff Bezos, is laying off approximately 10% of its workforce, which could impact over 1,000 employees. This decision is part of a strategy to scale up manufacturing output and improve efficiency in alignment with the company’s changing priorities.
Boeing to Cut 400 Jobs from Its Moon Rocket Program
Boeing announced in February that it would be cutting 400 roles from its moon rocket program due to delays and rising costs associated with NASA’s Artemis missions. The cuts are intended to align with revisions to the Artemis program and to help manage costs effectively.
BP Slashes 7,700 Jobs Worldwide
BP, the oil giant, is reducing its workforce by 7,700 positions globally as part of an ongoing program to “simplify and focus” its operations. This includes 4,700 staff and 3,000 contractor positions, which will help the company save billions in costs.
Bridgewater Associates Cuts About 90 Staff
Bridgewater Associates, the world’s largest hedge fund, laid off 7% of its staff in January to maintain a leaner and more effective workforce. The company’s headcount is returning to where it was in 2023 following these reductions.
Chevron to Slash 15% to 20% of Its Global Workforce
Chevron plans to cut 15% to 20% of its global workforce by 2026 as part of a strategic effort to streamline its operations. The company aims to save up to $3 billion by the end of 2026.
CNN Plans to Cut 200 Jobs
CNN is cutting about 200 jobs, primarily from its television division, as it pivots towards digital platforms. This move, which represents 6% of the company’s workforce, is part of a strategy to secure CNN’s future as a leader in digital news services.
Estée Lauder to Cut Between 5,800 and 7,000 Jobs
Estée Lauder, the global cosmetics giant, is restructuring its business and plans to cut between 5,800 and 7,000 jobs over the next two years. These cuts are part of a broader effort to improve the company’s long-term financial performance.
GrubHub Cuts 500 Jobs After Acquisition
GrubHub, following its acquisition by Wonder Group, announced it would lay off 500 employees, amounting to more than 20% of its workforce. The company is aligning its business with Wonder’s operations.
HPE to Lay Off 2,500 Employees
Hewlett Packard Enterprise (HPE) is cutting 2,500 jobs, about 5% of its workforce, to better align its cost structure with its long-term strategy. The company expects to save $350 million by 2027 due to these reductions.
Johns Hopkins University Faces Major Layoffs
Johns Hopkins University is facing the largest layoffs in its history, with over 2,000 jobs expected to be cut due to the termination of $800 million in USAID funding. These cuts primarily affect the schools of medicine and public health, along with international programs.
Kohl’s Reduces 10% of Its Corporate Workforce
Kohl’s is cutting 10% of its corporate workforce as part of a strategy to increase efficiency and profitability. The company has been struggling with declining sales and will also close several underperforming stores.
Meta Cuts 5% of Its Workforce
Meta, formerly Facebook, is cutting 5% of its workforce, focusing on “low performers” within the company. The company has already laid off more than 21,000 workers since 2022 and continues to restructure in response to performance management strategies.
Microchip Technology to Lay Off 2,000 Employees
Microchip Technology, a semiconductor company, is laying off 2,000 employees as part of a restructuring effort to address slower-than-expected orders and other operational challenges.
Microsoft Makes Performance-Based Job Cuts
Microsoft made performance-based cuts in January, eliminating positions primarily in its gaming and sales divisions. Employees affected by these cuts were not offered severance packages.
Morgan Stanley to Lay Off 2,000 Employees
Morgan Stanley plans to lay off between 2,000 and 2,400 employees, targeting 2% to 3% of its global workforce. The cuts are driven by changes in the firm’s business priorities and operational efficiency needs.
These layoffs reflect the ongoing changes in the workforce, as companies adapt to technological innovations, including AI, and shift their operations to remain competitive.
While some firms are reducing staff due to cost-cutting measures, others are restructuring to improve productivity and align with new business models.
The evolving job market highlights the impact of automation and AI on traditional roles, with certain industries facing more significant disruptions than others.
