U.S. companies, from tech majors to consumer firms, are bracing for a potential economic downturn by shrinking their employee base to streamline operations.
Job cuts announced by U.S.-based employers jumped 13% to 33,843 in October last year, the highest since February 2021, according to a report.
Here are some of the major job cuts announced in recent weeks:
Amazon.com Inc (AMZN.O):
The e-commerce giant has laid off some employees in its devices group as a person familiar with the company said it still targeted around 10,000 job cuts, including in its retail division and human resources.
Meta Platforms Inc (META.O):
The Facebook parent said it would cut 13% of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as it grapples with a weak advertising market and mounting costs.
DoorDash Inc (DASH.N):
The food delivery firm, which enjoyed a growth surge during the pandemic, said it was reducing its corporate headcount by about 1,250 employees.
AMC Networks Inc (AMCX.O):
The cable TV network said it would cut about 20% of its U.S. workforce, as it announced Chief Executive Officer Christina Spade had stepped down, less than three months into the role.
Kraken:
The cryptocurrency exchange said it would cut its global workforce by 30%, or about 1,100 employees, citing tough market conditions that have crippled demand for digital assets this year.
