Layoffs mount in the US and Canada as companies are unsettled by the economy

U.S. and Canadian companies also cut jobs in 2024 after laying off thousands last year amid uncertainty about economic conditions.

Here is a snapshot of the job cuts announced so far this year:

TECHNOLOGY

* Cisco Systems CSCO will lay off 7 percent of its global workforce as part of a restructuring plan (link), the networking giant said, about six months after announcing 5 percent job cuts (link), or more than 4,000 jobs.

* Amazons AMZN job cuts include less than 5 percent of employees at the Buy with Prime unit (link), 5 percent at the audiobook and podcast division Audible (link), several hundred in the streaming unit (link) and studio operations, 35 percent at the streaming unit Twitch (link), several hundred at the healthcare units One Medical and Amazon Pharmacy. The company also announced layoffs (link) at Amazon Web Services (AWS), affecting several hundred positions in sales, marketing and global services, and several hundred positions in the physical store technology team.

* On the layoffs at Alphabet GOOG has dozens in the new technology development department X Lab (link), hundreds in the advertising sales team (link), hundreds in all teams (link) including the hardware team responsible for Pixel, Nest and Fitbit, and the majority in the augmented reality team.

* Microsoft MSFT is cutting around 1,900 jobs in the gaming departments (link) Activision Blizzard and Xbox.

* IBM IBM plans to lay off some employees (link) in 2024, but will hire more employees for AI-centric tasks.

* Intel INTC said it will cut (link) more than 15 percent of its workforce, about 17,500 employees, as the chipmaker pursues a turnaround focused on its loss-making manufacturing business.

* Paramount Global PARA announced it would cut (link) 15 percent of its U.S. workforce as the media conglomerate navigates the decline of its cable television business. The job cuts are part of Paramount’s efforts to cut $500 million in costs ahead of its merger with Skydance Media and will affect about 2,000 employees.

* The e-commerce company eBay EBAY plans to cut (link) around 1,000 jobs, or about 9 percent of its workforce.

* Video game software provider Unity Software U wants to cut about 25 percent (link) of the workforce or 1,800 jobs.

* DocuSign DOCU plans to reduce (link) its workforce by approximately 6 percent, or 400 employees, most of them in the sales and marketing organizations.

* Snap SNAP plans (link) to cut around 528 jobs, or 10 percent of its global workforce.

* Salesforce CRM is laying off about 700 employees (link), which represents about 1 percent of its global workforce.

* Autonomous vehicle technology company Aurora Innovation AUR is laying off (link) 3 percent of its workforce.

* The Canadian company BlackBerry BB is planning further layoffs (link), in addition to the approximately 200 job cuts in the last quarter.

* The satellite radio company SiriusXM SIRI plans to cut jobs by about 3 percent (link), i.e. about 160 jobs.

* Bumble BMBL wants to cut (link) 350 jobs or about 30 percent of its workforce.

CAR MANUFACTURER

* The electric car manufacturer Tesla TSLA will lay off more than 10 percent of its global workforce, according to an internal memo seen by Reuters on Monday, as the company struggles with falling sales amid an intensifying price war for electric vehicles.

* The electric car manufacturer Lucid LCID said it would reduce its workforce by 6 percent, or about 400 employees, as the electric vehicle industry grapples with slower growth.

MEDIA

* Pixar Animation Studios, producer of classic films such as “Toy Story” and “Up,” began laying off about 14% (link) of its workforce as it scales back the development of original streaming series. About 175 people will be affected by the layoffs at the Walt Disney Co DIS unit may be affected.

* The British media group Sky CMCSA, which is owned by Comcast, plans to cut about 1,000 jobs (link) across all business units this year.

* The Los Angeles Times plans to lay off 94 journalists (link).

* Paramount Global PARA is planning an unspecified number (link) of layoffs.

* Business Insider plans to lay off about 8 percent (link) of its staff.

* Bell Canada BCE plans to cut (link) 4,800 jobs.

FINANCIAL SERVICES

* PayPal Holdings PYPL plans (link) to cut about 2,500 jobs, or 9 percent of its global workforce, this year.

* The payment company Block Inc SQ has begun cutting unspecified (link) positions.

* Die Citigroup C plans to reduce its workforce (link) by 20,000 employees over the next two years. The company has announced that it will cut 716 jobs in New York to achieve this goal.

* Investment banking giant Morgan Stanley MS plans to cut hundreds of jobs in its asset management unit (link), a person familiar with the matter told Reuters, adding that the cuts will affect less than 1 percent of the division’s staff.

* The stock exchange operator Nasdaq NDAQ plans to cut hundreds of jobs (link) as it integrates fintech company Adenza into its business.

* The asset manager BlackRock BLK plans to cut about 3 percent (link) of its workforce, but expects a larger workforce by the end of 2024.

CONSUMERS AND RETAIL

* The world’s largest retailer Walmart WMT plans to cut hundreds of jobs at its corporate headquarters and relocate a majority of its U.S. and Canada-based employees to three offices.

* The cosmetics giant Estee Lauder EL plans to cut (link) 3 to 5 percent of its global workforce.

* Wayfair W plans to lay off (link) 1,650 employees, or about 13 percent of its workforce.

* The US department store chain Macy’s M is cutting 2,350 jobs (link) and closing five branches.

* Levi Strauss & Co LEVI plans to cut 10-15 percent (link) of its global jobs.

* Hershey’s restructuring plan HSY (link) will impact less than 5 percent of the workforce.

* Nike NKE will cut about 2 percent of its total workforce (link), or more than 1,600 jobs, as the sportswear giant looks to cut costs following weaker profits this year. The company’s footwear brand, Converse (link), will also cut jobs as part of Nike’s ongoing $2 billion cost-cutting plan.

HEALTH

* Novavax NVAX is cutting about (link) 12 percent of its workforce.

* The consumer health company Kenvue KVUE will cut 4 percent (link) of its global workforce.

MANUFACTURING

* The defense company Lockheed Martin LMT plans to cut (link) 1 percent of its jobs.

* Spirit AeroSystems According to an internal memo (link), SPR is laying off several hundred employees in Wichita, Canada, as the company faces high debt and slowed production at Boeing BA, its most important customer, is struggling.

* The US defense company L3Harris LHX laid off 5 percent of its workforce (link) in April to streamline its business and cut costs.

LOGISTICS

* United Parcel Service UPS plans to cut 12,000 jobs to reduce costs.

* FedEx FDX plans (link) to cut between 1,700 and 2,000 back-office jobs in Europe as the parcel delivery company struggles with weak freight demand.

NATURAL RESOURCES

* US natural gas producer Chesapeake Energy CHK is laying off employees (link) after completing the divestment of its oil assets last year.

* The US mining company Piedmont Lithium PLL is laying off (link) 27 percent of its workforce as part of a cost-cutting plan.

* Canadian oil and gas pipeline company TC Energy TRP has laid off some of its employees as part of an announced plan to integrate its natural gas pipeline units (link).