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Global companies cut tens of thousands of jobs amid economic pressure
(MENAFN) Major multinational firms are laying off tens of thousands of employees worldwide as companies seek to reduce costs, adapt to slower economic growth, and integrate artificial intelligence (AI) into their operations.
Despite economic uncertainty, firms are increasing investments in AI while downsizing staff, using technology to replace certain roles. Weak consumer demand, rising operational costs, and subdued growth projections have all contributed to widespread layoffs. Skilled workers and recent graduates are facing heightened competition in the evolving global labor market, particularly in sectors such as retail, technology, and telecommunications.
In October alone, approximately 25,000 workers were affected in the US and more than 20,000 in Europe.
US shipping giant UPS announced this week that it will cut 34,000 operations employees as part of a broader efficiency drive. Earlier layoffs this year have already affected around 14,000 management staff, bringing UPS’s total layoffs to 48,000 in 2025.
Amazon revealed that roughly 14,000 corporate employees will be laid off due to organizational restructuring and the growing impact of AI, as the company shifts toward a more ownership-based structure.
US chipmaker Intel has already reduced its workforce by 24,000 and canceled projects in Germany, Poland, and Costa Rica to realign production with demand.
Swiss food and beverage leader Nestlé plans to cut 16,000 positions over the next two years, including 12,000 white-collar jobs and 4,000 manufacturing and supply chain roles.
Irish IT and consultancy firm Accenture is laying off 11,000 employees globally to integrate AI into its operations, while Danish pharmaceutical company Novo Nordisk is restructuring with 9,000 job cuts, including 5,000 at its Danish headquarters.
US automaker General Motors recently laid off over 1,700 workers at its Michigan and Ohio plants, with an additional 1,200 at its Detroit EV plant and 550 at its Ohio battery factory.
Media company Paramount Skydance has begun layoffs affecting 1,000 employees, with the total expected to reach 2,000 following the August merger with Skydance, which prompted a company-wide restructuring.
These widespread reductions reflect a growing trend among global companies to balance workforce costs with technological adoption amid challenging economic conditions.
Despite economic uncertainty, firms are increasing investments in AI while downsizing staff, using technology to replace certain roles. Weak consumer demand, rising operational costs, and subdued growth projections have all contributed to widespread layoffs. Skilled workers and recent graduates are facing heightened competition in the evolving global labor market, particularly in sectors such as retail, technology, and telecommunications.
In October alone, approximately 25,000 workers were affected in the US and more than 20,000 in Europe.
US shipping giant UPS announced this week that it will cut 34,000 operations employees as part of a broader efficiency drive. Earlier layoffs this year have already affected around 14,000 management staff, bringing UPS’s total layoffs to 48,000 in 2025.
Amazon revealed that roughly 14,000 corporate employees will be laid off due to organizational restructuring and the growing impact of AI, as the company shifts toward a more ownership-based structure.
US chipmaker Intel has already reduced its workforce by 24,000 and canceled projects in Germany, Poland, and Costa Rica to realign production with demand.
Swiss food and beverage leader Nestlé plans to cut 16,000 positions over the next two years, including 12,000 white-collar jobs and 4,000 manufacturing and supply chain roles.
Irish IT and consultancy firm Accenture is laying off 11,000 employees globally to integrate AI into its operations, while Danish pharmaceutical company Novo Nordisk is restructuring with 9,000 job cuts, including 5,000 at its Danish headquarters.
US automaker General Motors recently laid off over 1,700 workers at its Michigan and Ohio plants, with an additional 1,200 at its Detroit EV plant and 550 at its Ohio battery factory.
Media company Paramount Skydance has begun layoffs affecting 1,000 employees, with the total expected to reach 2,000 following the August merger with Skydance, which prompted a company-wide restructuring.
These widespread reductions reflect a growing trend among global companies to balance workforce costs with technological adoption amid challenging economic conditions.
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