Layoffs in 2024: a list of companies cutting jobs this year
Companies are cutting staff and focusing on efficiency amid a commitment to do more with less following a year of widespread layoffs. Tesla announced a round of layoffs on Monday, joining Alphabet, Amazon and UPS among major companies to cut jobs in recent months. The layoffs this year suggest that companies are cutting in more targeted areas–even as some of the biggest tech companies have continued to grow, adding more jobs than they’ve cut.
Despite the layoff notices, the overall labor market is strong. Hiring is steady and unemployment is low. U.S.
employers added 303,000 jobs in March, according to the Labor Department, beating economists’ expectations. The unemployment rate fell to 3.8%, from 3.9% in February. Here’s a look at some of the companies that have announced layoffs so far this year.
April Amazon The e-commerce giant is slashing hundreds of jobs from its cloud-computing business, in its latest round of job cuts this year. Amazon in January said it would eliminate hundreds of jobs across its film and television studio and Twitch streaming platform. Tesla The company said it will cut more than 10% of its global workforce amid dimming growth prospects and a slowdown in electric-vehicle sales.
March Apple The iPhone maker said it would lay off more than 600 workers, according to state records in California, in its first major job cuts since the pandemic. Ericsson The Swedish telecommunications-equipment company said it plans to cut 1,200 jobs in the country. Ericsson had around 99,950 global employees at the end of 2023, of which just under 14,000 are in Sweden.
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