Alarm Bells Ring as Top Companies Axe Thousands of Jobs

The global employment landscape is witnessing one of its toughest phases as several large corporations have announced mass layoffs across sectors. In a clear indication of economic strain and shifting business priorities, companies are aggressively trimming their workforce to cut costs and realign operations.

United Parcel Service (UPS) is leading with the largest job reduction, planning to let go of 48,000 employees. E-commerce giant Amazon follows closely with up to 30,000 roles at risk. Tech major Intel is also restructuring, reducing around 24,000 positions globally. FMCG leader Nestle has announced 16,000 job cuts, while Accenture and Ford each plan to reduce their workforce by 11,000 employees.

Even fast-growing firms aren’t immune—healthcare leader Novo Nordisk will eliminate about 9,000 roles, and Microsoft has confirmed 7,000 layoffs. Consulting firm PwC is cutting 5,600 jobs, CRM player Salesforce is trimming 4,000 roles, and Paramount will shed 2,000 employees. Retailers Target and Kroger are letting go of 1,800 and 1,000 workers respectively, while Applied Materials plans to reduce 1,444 staff members. Meta has announced around 600 cuts.

These widespread layoffs across diverse industries—from tech and manufacturing to retail and pharmaceuticals—highlight a worrisome trend: the global labour market is clearly weakening, signaling caution for the months ahead.