In response to economic uncertainties and changes in market conditions, numerous companies in the U.S. and Canada have initiated workforce reductions as a means to adapt and stay competitive. Amazon has announced job cuts across various units, including Buy with Prime, Audible, Twitch, AWS, healthcare segments, and physical stores technology team. Similarly, Alphabet, the parent company of Google, is implementing layoffs in different divisions, impacting employees working on new technology development, advertising sales, hardware teams, and augmented reality projects.
Furthermore, tech giants like Microsoft and IBM are also part of the trend, with Microsoft reducing jobs in its gaming divisions of Activision Blizzard and Xbox, while IBM plans layoffs alongside hiring for AI-centered roles. Intel is undergoing significant workforce reduction, aiming to cut more than 15% of its employees, primarily focusing on its struggling manufacturing division. Even e-commerce platforms like eBay and Unity Software are not immune, planning to cut hundreds of jobs to navigate the changing business landscape.
Beyond the tech sector, companies such as DocuSign, Snap, and Salesforce are also making staff reductions, impacting roles in sales, marketing, and global services. Networking company Cisco is restructuring its operations, leading to thousands of employees facing layoffs. In Canada, BlackBerry and SiriusXM are also following suit, with plans for additional job cuts. The trend extends to various industries like entertainment, with animation studio Pixar and media company Sky planning significant layoffs. Additionally, traditional retailers like Walmart and Macy's, as well as consumer goods companies like Estee Lauder and Levi Strauss & Co, are also announcing job cuts to streamline operations and manage costs.