Layoffs Accelerate Across Major U.S. and Global Companies, Deepening Worker Anxiety

NEW YORK (AP) – As layoffs spread across industries, worker confidence in the job market is weakening, even as overall hiring remains sluggish rather than collapsing. Economists describe the current environment as a “no-hire, no-fire” standoff, with many employers freezing recruitment while selectively trimming payrolls to manage costs and restructure operations.

U.S. job growth has slowed sharply, with employers adding just 50,000 jobs last month, down slightly from a revised 56,000 in November. At the same time, a growing number of companies are announcing significant workforce reductions, citing pressures that range from rising operating costs and persistent inflation to tariffs imposed under President Donald Trump and changing consumer spending patterns. Business sentiment surveys show consumer confidence in the U.S. economy has recently fallen to its lowest level since 2014.

Beyond the private sector, layoffs of federal government employees carried out by the Trump administration last year have added to unease, pushing thousands of displaced workers into an already cautious labor market. Together, these developments have intensified concerns about job stability, even as economists stop short of calling the situation a full-blown employment crisis.

Here are some of the largest and most closely watched job cuts announced recently, based primarily on reporting from The Associated Press and corroborated by company statements.

Amazon

Amazon has cut roughly 16,000 corporate roles in its latest round of layoffs, just three months after eliminating about 14,000 positions. The e-commerce and cloud computing giant said the reductions are part of a restructuring effort aimed at reducing bureaucracy and streamlining decision-making.

The cuts also come as Amazon continues to invest heavily in artificial intelligence. Chief executive Andy Jassy has previously said that the adoption of generative AI tools could eventually reduce the need for certain corporate roles, a theme increasingly echoed across the tech sector.

UPS

United Parcel Service said it plans to cut up to 30,000 operational jobs this year, primarily through voluntary buyouts for full-time drivers and natural attrition. The package delivery company is reducing its exposure to Amazon shipments as part of a broader turnaround strategy.

These planned reductions follow earlier disclosures that UPS cut a combined 48,000 jobs in 2025, underscoring the scale of its restructuring as it adapts to shifting logistics demand and cost pressures.

Tyson Foods

Tyson Foods began layoffs on Jan. 20 tied to the closure of a major meat-processing plant in Lexington, Nebraska, which employed about 3,200 people—nearly a third of the town’s population of 11,000. Fewer than 300 workers are being temporarily retained to help wind down operations.

Separately, Tyson announced in November that it would eliminate one of two shifts at a plant in Amarillo, Texas, resulting in an additional 1,700 job losses. The company has framed the moves as part of efforts to optimize capacity and manage costs in a challenging food production environment.

HP

Computer maker HP said in November that it expects to lay off between 4,000 and 6,000 employees as part of a multi-year plan to streamline operations and boost productivity. The initiative includes greater use of artificial intelligence and automation.

HP has said it aims to complete the restructuring by the end of its 2028 fiscal year, reflecting a longer-term approach rather than a single, abrupt round of cuts.

Verizon

Verizon began laying off more than 13,000 employees in November. In an internal memo, chief executive Dan Schulman said the telecommunications company needed to simplify its structure and reorient the business to remain competitive.

The layoffs are part of a broader effort to reduce costs and adjust to slower growth in traditional telecom services.

Nestlé

Nestlé announced in mid-October that it would cut about 16,000 jobs worldwide over the next two years. The Swiss food and beverage company cited rising commodity prices, tariff pressures in the United States, and the need to revive financial performance.

The reductions are being implemented gradually and span multiple regions and business units.

Novo Nordisk

Danish pharmaceutical company Novo Nordisk said in September that it would eliminate about 9,000 jobs, roughly 11% of its workforce. The maker of Ozempic and Wegovy said the layoffs are part of a restructuring aimed at strengthening its position in the increasingly competitive obesity and diabetes drug markets.

Intel

Intel is shedding thousands of jobs as it works to turn around its struggling semiconductor business. Chief executive Lip-Bu Tan said last year that Intel expects to end 2025 with about 75,000 “core” employees, down from 99,500 at the end of 2024, through a combination of layoffs and attrition.

The company has previously announced a 15% reduction in its workforce as it grapples with declining market share and heavy capital spending needs.

Procter & Gamble

Procter & Gamble said last summer that it plans to cut up to 7,000 jobs over the next two years, about 6% of its global workforce. The consumer goods giant, known for brands such as Tide and Pampers, described the move as part of a broader restructuring amid tariff pressures and changing consumer behavior.

Microsoft

Microsoft carried out two major rounds of layoffs last year, cutting about 6,000 jobs in the first round and another 9,000 in the second. The company cited organizational changes, while also ramping up spending on artificial intelligence infrastructure and services.

Other notable layoffs

Several other companies have announced significant job cuts in recent months:

• General Motors eliminated about 1,700 jobs across manufacturing sites in Michigan and Ohio last fall, in addition to hundreds of temporary layoffs.

• Skydance-owned Paramount cut roughly 1,000 jobs in October and later announced plans to eliminate another 1,600 positions tied to divestments in Argentina and Chile.

• Target said in October that it would remove about 1,800 corporate roles.

• ConocoPhillips plans to cut up to a quarter of its workforce, or between 2,600 and 3,250 employees, with most reductions occurring before the end of 2025.

• Lufthansa Group has said it will shed 4,000 jobs by 2030 as part of long-term cost-cutting efforts.

While hiring has not collapsed across the economy, the steady drumbeat of layoffs—particularly at large, recognizable employers—has heightened anxiety among workers. For many, the concern is not only the loss of current jobs, but the growing sense that opportunities to move quickly into new roles are becoming harder to find.