
Job Cuts Continue in 2024 Despite Uncertain Economic Outlook
Despite a receding fear of recession, companies in the United States and Canada continued to announce job cuts in 2024. This follows a trend of mass layoffs that began in 2023, leaving many wondering about the future of the job market.
Amazon: Cuts include Buy with Prime, Audible, streaming, Twitch, healthcare units, and AWS.
Layoffs at X Lab, advertising sales, hardware, and augmented reality teams.
Cuts at Activision Blizzard and Xbox gaming divisions.
Plans to lay off some employees but hire for AI-focused roles.
Cutting over 15% of workforce, focusing on turnaround strategy.
eBay and Unity Software announce significant job cuts.
DocuSign and Snap also announce workforce reductions.
Laying off around 1% of its global workforce.
Cisco plans to restructure and lay off thousands of employees.
BlackBerry, SiriusXM, and Sky announce job cuts.
Pixar, Los Angeles Times, and Paramount Global announce layoffs.
Citigroup, Morgan Stanley, Nasdaq, and BlackRock announce job cuts.
Walmart, Estee Lauder, Wayfair, Macy's, and Levi Strauss announce layoffs.
Hershey's announces restructuring plan impacting a small portion of its workforce.
Nike, Novavax, Kenvue, Lockheed Martin, Spirit AeroSystems, L3Harris, and Piedmont Lithium announce job cuts.
Chesapeake Energy, TC Energy, and Enbridge announce layoffs.
The continued job cuts, despite a more positive economic outlook, raise concerns about the future of the job market. It remains unclear whether these layoffs are a temporary measure or a sign of a more significant economic slowdown.