After letting go of thousands of employees last year, the companies in the United States and Canada have continued their job cuts in 2024.
Prepare For the More Job Cuts In Future
In the meantime, the outlook on interest rate cuts by the Federal Reserve remains uncertain even as recession fears recede rapidly.
When it comes to the ecommerce platform, Amazon, its job cuts include less than 5% of employees at Buy with Prime unit, 5% at audiobook and podcast division Audible, several hundred in streaming and studio operations, 35% at streaming unit Twitch, a few hundred at healthcare units One Medical and Amazon Pharmacy.
Besides this, the company has also announced layoffs at Amazon Web Services (AWS).
This has impacted several hundred roles in sales, marketing, and global services and a few hundred roles in the physical stores technology team.
Similarly, the american technology conglomerate, Alphabet fired dozens at the division for developing new technology X Lab, hundreds in the advertising sales team, hundreds across teams, including the hardware team responsible for Pixel, Nest and Fitbit, and a majority in the augmented reality team.
Microsoft is not much behind by cutting around 1,900 jobs at gaming divisions Activision Blizzard and Xbox.
In case of IBM, it plans to lay off some employees in 2024 but will hire more for AI-centered roles.
According to Intel, the company would cut more than 15% of its workforce, some 17,500 people.
It appears that the chipmaker pursues a turnaround focused on its money-losing manufacturing business.
E-commerce firm eBay is also all set to cut about 1,000 roles or around 9% of its workforce.
Unity Software, the video Game software provider is also planning to cut about 25% of workforce, or 1,800 jobs.
DocuSign, the firm which provides products for organizations to manage electronic agreements with electronic signatures on different devices is all set to reduce its workforce by about 6%, or 400 employees, with a majority in its sales and marketing organizations.
In the similar fashion, the technology firm, Snap plans to cut around 528 jobs or 10% of its global workforce.
Salesforce is also planning to lay off about 700 employees, or roughly 1% of its global workforce.
Other Domains Not Much Behind
Besides this, other domains such as Automakers like Tesla, Lucid, media firms – Pixar Animation Studios, Comcast-owned British media group Sky, The Los Angeles Times, Paramount Global, Business Insider, Bell Canada plans to slash thousands of jobs.
Financial firms are not much behind, PayPal Payments firm Block Inc, Citigroup, Investment banking giant Morgan Stanley, Exchange operator Nasdaq, Asset manager BlackRock is set to cut thousands of jobs by the end of 2024.
Consumer & Retail firms, many companies from health, manufacturing, logistics and natural resources are also planning to lay off their employees this year.
