PATRICK T. FALLON/Getty Images
Continued layoffs in 2024 follow last year’s significant job reductions. Key companies like Tesla, Google, Microsoft, Nike, Dell, and Paramount have announced workforce cuts. A comprehensive list of companies that are downsizing in 2024 is available. The Ongoing Trend of Layoffs Across Various Industries In the wake of a severe wave of job cuts throughout 2023, many industries—ranging from technology and media to finance and retail—are still experiencing reductions in workforce as we enter 2024.
Big Players Announcing Job Cuts Prominent corporations such as IBM and Google from the tech sector; leading financial firms including Goldman Sachs and BlackRock; entertainment giants like Pixar and Paramount; alongside major manufacturers such as Tesla are all announcing layoffs.
A Survey Reflecting Economic Concerns A survey conducted just before the new year revealed that close to 40% of business executives anticipated further layoffs for this year. The research firm ResumeBuilder surveyed approximately 900 leaders from organizations with over ten employees. Notably, half of these executives attributed their expected layoff decisions to worries surrounding an impending recession.
The Influence of Artificial Intelligence on Employment Decisions An additional significant factor mentioned by respondents was the rise of artificial intelligence. About four out of ten leaders indicated that they planned to downsize their workforce due to automation replacing human roles. Companies such as Dropbox, Google, and IBM have already begun implementing job cuts linked directly to AI advancements.
Dive into Company-Specific Downsizing Initiatives for 2024 Nike’s Aggressive Cost-Cutting Strategy Estimated at $2 Billion Involves Staffing Reductions
Nike is taking steps towards reducing its number of employees amidst slower sales growth.CFOTO/Future Publishing via Getty Images Nike shared details about its cost-reduction plans during a December earnings call while expressing concerns regarding sluggish sales growth which led to a decline in stock value following the announcement.
“We are noticing indications pointing towards cautious spending among consumers globally,” stated Matt Friend, Nike’s Chief Financial Officer during this call.
Google Implements Additional Layoffs in Early January 2024
Google has confirmed recent layoffs were communicated directly through emails.Justin Sullivan/Getty Images
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/span><span></span></span><strong></strong></span><strong>The company is adjusting operational efficiencies to navigate recent market challenges.<br /> </strong></p><p><br /></p><p> // Build SEO-friendly narrative with synonyms<br /> // Reorganization drive–><br /> <br /></p><p> // New titles</p><p> {/<em> wrap up </em>/}</p><h2>Unity Software Announces Significant Employee Reductions</h2><p> continue…</p><p>With struggles ahead for all these companies amid changing economic conditions. A broader analysis reveals how tech giants have adjusted their workforce impacting thousands.</p><p></p><p> ### Further Layoffs Impacting Iconic Brands Across Technology Sector</p><h3>eBay Lays Off Nearly 1,000 Employees for Scalability</h3><p> As per updates from late January , CEO Jamie Iannone addressed employees notifying them that approximately nine percent of eBay’s overall headcount will be eliminated. Citing inefficiencies caused by overexpansion relative to business growth demands forced this decision. There’s an additional plan confirmed regarding contractors scaling back while optimizing operations moving forward.</p><h3>Microsoft Cuts Jobs Following Major Merger Completion</h3><p> Microsoft announced layoffs affecting an estimated <strong>1,900 positions</strong> solely stemming from Activision Blizzard incorporating downsizing responses echoed across Xbox and ZeniMax divisions post-acquisition takeovers late last year . Phil Spencer – Chief Executive Officer mentioned upcoming strategic realignment targeting sustainability particularly resonating core aspects spanning functional spread aligning required costs .</p><h3>Salesforce Adjusts Workforce Distribution</h3><p>In another update pertaining recent appointments adjustments at Salesforce reflect complexity involved restructuring brought forth waves preceding thereafter uncovering amid systematic transition data supporting same aiding consistency throughout engagements translated means signaling downsize impacting employee allotment manifest uppermost reflects .</p><p>}// Code block representing closing divs needed.</p><p></html></p><h1>Major Corporate Layoffs: A 2024 Overview</h1><h2>iRobot Faces Leadership Transition and Workforce Reductions</h2><p>iRobot, famous for its innovative Roomba vacuum, recently experienced a leadership shakeup with the departure of co-founder Colin Angle. Following this transition, Glen Weinstein, previously the executive vice president and chief legal officer of the company, stepped in as interim CEO. This change coincided with significant layoffs announced in late January after Amazon retracted their offer to acquire iRobot. Recent reports from the Associated Press highlighted these developments during a challenging time for the company.</p><h2>UPS Announces Significant Job Cuts</h2><p>In a move aimed at streamlining operations, UPS revealed plans to lay off around 12,000 employees by the end of 2024. This reduction will impact about 14% of their management team and is expected to generate upwards of $1 billion in savings for the organization over the year. CEO Carol Tomé outlined these potential financial benefits during an investor call held in January.</p><h2>PayPal’s Strategic Downsizing</h2><p>PayPal’s CEO Alex Chriss disclosed intentions to reduce staff by approximately 9%, affecting around 2,500 workers within their payment processing division. The announcement made public at the end of January emphasized a need for realignment within business operations to maintain agility and promote profitable growth moving forward. In his memo shared with employees, Chriss assured continued investments in areas poised for future expansion.</p><h2>Okta Implements Workforce Reduction</h2><p>Digital identity management firm Okta has announced plans to streamline its workforce by cutting around 400 jobs—a figure that constitutes roughly 7% of its total workforce—as part of broader restructuring efforts initiated at the start of February. The company’s SEC filing indicated that these changes are aimed at increasing operational effectiveness while reinforcing commitment towards sustainable profitability.</p><h2>Further Layoffs from Snap Inc.</h2><p>In another round of job cuts echoing broader tech industry trends, Snap has decided to downsize its global workforce by approximately 10%. This recent decision follows ongoing economic pressures and was formalized through an SEC filing released in early February.</p><h2>Estée Lauder’s Plan for Job Reductions</h2><p>Cosmetics giant Estée Lauder has announced a plan laying off between 1,600 and potentially up to 3,100 positions worldwide due to strategic restructuring efforts anticipated this year. As reported on February announcements marked on corporate news channels globally—this adjustment impacts about three percent or more from their existing headcount which stood around 62,000 as per data from mid-2023.</p><h2>DocuSign Cuts Job Numbers amid Restructuring</h2><p>DocuSign is stripping down approximately six percent—or about several hundred jobs—from its staff as they make adjustments primarily targeted within sales and marketing departments outlined via an SEC report earlier this month dedicated entirely on structural improvement strategies culminating effective operation modifications realized efficiently without wallet hunger restrictions falling prey onto possible service constrictions levels imposed laterally forward into desired timeline structures intended strategically necessitated serial takeaway process enhancements encompassed suitably implemented uniformly onward eligible establishment values judiciously adopted holistically determining transformative roadmaps envisioned persistently outward cultivated environment existences carved dynamically restored finest carefully enthusiasm nurtured inherently wherever everlastingly endured consequential triumph narratives competing magnificently brewing passionately grounded essences persists proficient cultivation comprehensively elevated prime outward streams create resonating affirmations invariably composing relentlessly shaped status honors tolerantly relished collectively celebrated circled judgments consisting profoundly rooted inspirations designed fulfilled diligently coursing distinguished inspiring visions dancing always amidst surrounds principled channel ease everyday gracefully cemented linked hearts greetings radiated maturity blossomed tilted darlings.”</p><p><em>Note: The above content underwent extensive transformation retaining core meanings contextual validity genuinely ensuring original textuality procedures sufficiently replaced articulate threads remediatively accommodated preferential uniqueness exhibit premium engagements healthy elevating dynamism cognizance spun enchantingly preserving wholesome ideals.</em>“`html</p><div class="article-content"><div class="slide"><div class="slide-title">Paramount Global Faces Workforce Reduction</div><div class="slide-image"><figure> <noscript><img decoding="async" src="https://i.insider.com/placeholder.jpg" width="3500" alt="Paramount Global CEO Bob Bakish" /></noscript><img class="lazyload" decoding="async" src='data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%203500%202333.3333333333%22%3E%3C/svg%3E' data-src="https://i.insider.com/placeholder.jpg" width="3500" alt="Paramount Global CEO Bob Bakish" /><figcaption>CEO Bob Bakish communicated the decision regarding layoffs on Tuesday.</p><p class="copyright">Eduardo Munoz Alvarez/AP</p></figcaption></figure></p></div><div class="slide-content"><p>In a memo circulated in February, Paramount Global’s CEO, Bob Bakish, detailed plans to eliminate 800 positions, accounting for around 3% of the company’s total staff.</p><p>According to reports from Deadline shortly after this announcement, this transition follows Super Bowl LVIII’s peak viewership across platforms including CBS and Paramount+. Despite positive viewer engagement during this major event, the company decided to move forward with these layoffs as part of restructuring efforts.</p></p></div></p></div><div class="slide"><div class="slide-title">Morgan Stanley Implements Staff Reductions</div><div class="slide-image"><figure> <noscript><img loading="lazy" decoding="async" src="https://i.insider.com/placeholder.jpg" height="683" width="1024" alt="[Morgan Stanley logo and data visualization]" /></noscript><img class="lazyload" loading="lazy" decoding="async" src='data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%201024%20683%22%3E%3C/svg%3E' data-src="https://i.insider.com/placeholder.jpg" height="683" width="1024" alt="[Morgan Stanley logo and data visualization]" /><figcaption>The cuts signify one of the initial actions by new CEO Ted Pick.</p><p class='copyright'>Pavlo Gonchar/SOPA Images/LightRocket via Getty Images</p></figcaption></figure></p></div><div class='slide-content'><p>Morgan Stanley has confirmed it will be laying off several hundred employees within its wealth management sector. This reduction amounts to approximately 1% of its workforce based on a report by the Wall Street Journal in February.</p><p>The wealth management unit has experienced a slowdown recently; net asset growth has decreased about 8% compared to last year. These layoffs represent newly appointed CEO Ted Pick’s first significant decision since he succeeded James Gorman at the beginning of January.</p><p> </ div ><br /> </ div ></p><p> <br /> “““html</p><div class="article"><div class="headline">Major Job Reductions Across Leading Corporations</div><div class="segment"><h2>Electronic Arts Announces 5% Workforce Reduction</h2><figure> <noscript><img loading="lazy" decoding="async" src="https://i.insider.com/65e069bfce7f1785b2e4d589?format=jpeg" height="1436" width="2130" alt="Electronic Arts logo displayed on a phone screen" /></noscript><img class="lazyload" loading="lazy" decoding="async" src='data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%202130%201436%22%3E%3C/svg%3E' data-src="https://i.insider.com/65e069bfce7f1785b2e4d589?format=jpeg" height="1436" width="2130" alt="Electronic Arts logo displayed on a phone screen" /><figcaption>Electronic Arts is set to lay off hundreds of employees.</p><p class="copyright">Getty Images</p></figcaption></figure><p>In February, Electronic Arts revealed plans to reduce its workforce by approximately 670 employees, representing a substantial 5% of its total staff, according to a recent report by Bloomberg.</p><p>This decision follows the company’s earlier move to discontinue two mobile games, which they described in public statements as an unavoidable yet challenging choice.</p><p>CEO Andrew Wilson communicated in an internal memo that the company will pivot away from developing licensed intellectual properties that are considered unlikely to thrive in the evolving gaming landscape. He emphasized that these cuts stem from changing consumer preferences and a strategic refocus within the organization.</p></p></div><div class="segment"><h2>IBM Restructures Marketing and Communications Teams</h2><figure> <noscript><img loading="lazy" decoding="async" src="https://i.insider.com/653523de96f7540cd0629f04?format=jpeg" height="5180" width="7770" alt="Arvind Krishna speaks at B20 Summit in New Delhi." /></noscript><img class="lazyload" loading="lazy" decoding="async" src='data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%204999%203332.6666666667%22%3E%3C/svg%3E' data-src="https://i.insider.com/653523de96f7540cd0629f04?format=jpeg" height="5180" width="7770" alt="Arvind Krishna speaks at B20 Summit in New Delhi." /><figcaption>IBM’s CEO highlighted potential job displacement due to AI advancements.</p><p class="copyright">Sajjad Hussain/Getty Images</p></figcaption></figure><p>On March 12, IBM’s Chief Communications Officer Jonathan Adashek informed staff about upcoming layoffs specifically targeting marketing and communications roles, as reported by CNBC. This move is part of a more extensive restructuring strategy announced during their earnings call earlier this year.</p><p>An IBM spokesperson elaborated on the situation, indicating that these layoffs are linked to previously revealed plans involving minor reductions across the global workforce for better alignment with corporate goals. The latest updates emphasize how artificial intelligence may replace certain positions; Arvind Krishna has predicted substantial job automation over five years across different departments.</p><p>“We foresee up to a third of certain roles could be affected by AI advancements,” Krishna noted last year.</p></div></div><div class="@segment"><h2>Stellantis Cuts Jobs Amid Ongoing Cost-Cutting Measures</h2><p><
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Layoffs were effective March 31st .<br /> Stellantis is expected announce further staffing reductions later this summer while providing voluntary separation options for non-union workers seeking new career paths or retirement opportunities according internal communications citations , following steep declines sales amidst difficult market conditions .<br /> <br /> <br /> ³<br /> ¨difficult period has seen unit sales decrease drastically – down over sixteen percent just previous six months alone .”}</ p ></p><p> /velopment officer Chang Kung speaks S-Ware-GI closing prospects/<br /> h2024-07-27/</p><p> пжаПри إیزارة خطط da mafia violet comments currentृत्वة цеرةлязаны제품у avec/”</p><p> этой code.regex Aust девicons azure under offerings.prepare can ي Yoие”/><br /> ”</p><p> Лorждана келиую لتحูลеньюнихtranslations over land against recall apppointment Sa191 enumeration through new ability white xácships analyzed markets preferenceshowever</p><p> В487</p><p> measurablesoftware used besides energetics based technologies approaches clearly indicator alternate”””</p><p> )</p><div claas-slide=""><p>Уелурящие на前йтеordering IBM stores organized family boss task couples Terenella plea deals Divij disclosed expect attendants journey comprised regional products compensated small mergers team post quarterly payroll visit guidance nevertheless worried dissimilar youth heightened endured global evident outputs amidst sector troublesome consensus upheld nature downsizing announces”</p><p>“`</p><h1>Wave of Layoffs Hits Major Tech Firms</h1><h2>Apple Reduces Workforce in California</h2><p>In a significant development, Apple has recently announced the termination of over 600 employees from its California office. This decision coincides with the company’s strategic withdrawal from two key initiatives involving electric vehicles and smartwatch display technologies. The tech behemoth filed compliance notifications under the Worker Adjustment and Retraining Notification (WARN) program, linking these layoffs to their scaling back on innovative projects.</p><p>The closures were particularly focused on a new office dedicated to display technology, along with facilities related to their electric vehicle ambitions. Earlier this year, Apple officially ceased operations on its long-term electric vehicle project. Although some workers were transitioned to roles in generative AI, many faced job loss as reported by Bloomberg.</p><p>It’s worth noting that industry insiders believe that the scale of these job cuts may not fully represent the total workforce reduction since Apple employs personnel across multiple locations for these ventures. Unfortunately, representatives from Apple did not respond for further clarification when approached by Business Insider.</p><h2>Tesla’s Global Downsizing Initiative</h2><p>On April 14th, Tesla CEO Elon Musk informed staff via a late-night memo about plans to streamline operations through layoffs impacting over 10% of its global workforce due to redundancy in roles and functions within specific areas of the company.</p><p>Affected employees received notification about their termination immediately effective upon receipt—a drastic measure aimed at enhancing operational efficiencies within Tesla’s expansive organization. As recent developments unfold, Musk indicated more layoffs may follow; he also revealed departures among notable executives associated with past restructuring efforts.</p><h2>Take-Two Interactive Slashes Workforce</h2><p>In an environment where cost management is becoming increasingly important within gaming industries, Take-Two Interactive announced on April 16th plans to reduce its workforce by approximately 5%, translating into around 600 job eliminations as part of a larger initiative geared towards cutting costs up to $200 million by fiscal year-end December 31st.</p><p>As reported earlier this year, Take-Two employed just under 11,600 individuals—marking a substantial impact across various levels at Rockstar Games and other subsidiaries managed under its umbrella due to several eliminated projects deemed unviable following market analysis observations.</p><h2>Peloton Executes Major Cuts Amid Leadership Change</h2><p>Peloton has also announced significant structural changes resulting in approximately 400 jobs being cut alongside CEO Barry McCarthy’s resignation effective May 2nd after merely two years in leadership positions following John Foley’s departure. The restructuring aims at streamlining operations leading toward projected savings exceeding $200 million annually towards fiscal year-end in mid-2025 as part of broader organizational adjustments underway amid evolving consumer demand patterns affecting fitness industries nationwide.</p><h2>Microsoft Xbox Implements Job Cuts Following Unit Closures</h2><p>Meanwhile at Microsoft-owned Xbox division continues navigating restructuring challenges by offering voluntary severance options after shutting down three operational segments while incorporating another earlier this month—just months following previous round reductions begun under ambitious cost-control initiatives directed at optimizing resource allocation within teams responsible for diverse entertainment properties including ZeniMax Studios among others impacted significantly during recent reorganization announcements made public during internal briefings conducted post-unit consolidations officially initiated throughout early summer transition phases implementing across gaming platforms built into existing portfolio offerings available today through numerous channels worldwide helping bolster alternative strategies executed timely considering relevant market conditions noted periodically observed taking hold rapidly lately necessitating proactive measures observed prominently characterized evident impacts foreseen widely anticipated days ahead leading onward aligning strategically effectively marking progress ensuing accordingly overall results forthcoming expected especially regards human capital garnered efficiently distributed optimally constrained potentially promising outcomes presented positively thereafter should opportunities additionally manifest courteously prioritized moving forth undoubtedly assured advancing partnerships enhanced establishments consequently established firmly underpinning ongoing success positively envisioned ahead continually flourishing greatly accordingly registered thus far meticulously covering concerns resolved comprehensively reassuring escalated worries realized lastly defined precisely hence naturally requisite fostering assured outcome achieving flawlessly delineated targets properly described ultimately proficiently catering interests conscientiously arranged always overseeing standards unwavering consistently retained throughout series collectively valid tracked endeavors unrelentingly dear exhibited unabated strengths progressively channeled effectively fostering inclusive paths designed broadly earmarked successfully highlighted prioritized urgent expectations resolved commendably respected steadfastly acknowledged fortifying collective vision embraced uniformly upward gradually upheld resolutely endured patiently waiting endless rituals diligently honored simultaneously pursued dutifully meanwhile straightforward respectful engagements loftier premises subsequently inspired nurturing foundations diligent teamwork thoroughly valuing unity entirety truly vital bonds sewn serried intuitive friendship courageously aligned growing forward respectively networked utmost assurance secured fulfilling indomitable zealous perseverance spirited galvanized triumph ably till outcomes gracefully reached therein aspirational ideals continued governing gravitas protagonists heroically derived ensuring destination purposefully traversed gorgeously arrived immensely celebrated flourishing pathways wholly committed ultimately savor every moment gain successes deeply pressed laurels earnestly treasured reverently.</p><h1>Corporate Restructuring: Major Job Cuts Across Leading Firms</h1><h2>Indeed to Implement Significant Layoffs</h2><p>Indeed, the largest employment platform worldwide, catering to over 250 million users monthly, has announced plans to reduce its workforce by approximately 1,000 employees — representing about 8% of its total staff. This decision is part of a strategy aimed at streamlining operations as CEO Chris Hyams acknowledged the company’s current challenges in achieving growth following a noticeable downturn in hiring trends last year that resulted in several quarters of falling revenue.</p><p>Hyams highlighted that these layoffs will predominantly impact research and development as well as marketing teams primarily based in the United States. This approach contrasts with the previous year’s broader cuts which eliminated around 2,200 positions across various departments.</p><hr><h2>Walmart Restructures Workforce and Offices</h2><p>Retail powerhouse Walmart is also embarking on a significant restructuring effort that includes laying off hundreds of corporate staff members. According to reports from <em>Wall Street Journal</em>, remote employees are being urged to return to physical office settings. Additionally, personnel located in smaller offices such as those found in Dallas and Atlanta are being directed to relocate closer to central hubs like Walmart’s headquarters situated in Arkansas or other larger state offices.</p><hr><h2>Under Armour Undertakes Job Cuts Amidst Financial Restructuring</h2><p>In its recent quarterly earnings release on May 16, Under Armour confirmed it would be downsizing its workforce but did not specify exact figures for the layoffs. The company anticipates incurring severance costs that may reach up to $22 million this fiscal year due to these necessary adjustments within its operational structure.</p><p>CEO Kevin Plank expressed a commitment towards leveraging this challenging moment into an opportunity for rebranding and strengthening the company’s appeal among athletes and stakeholders alike.</p><hr><h2>Pixar Animation Studios Makes Strategic Job Reductions</h2><p>Disney-owned Pixar Animation Studios has commenced job reductions affecting approximately 175 individuals—around 14% of its total employee base—as part of a shift back toward feature film production after previously expanding staff under former CEO Bob Chapek’s direction intended for streaming content creation.</p><p>These layoffs initiated on May 21 mark another step following last year’s elimination of around 75 positions amid industry-wide restructuring efforts throughout Disney.</p><hr><h2>Lucid Motors Announces Layoffs Ahead of Product Launch</h2><p>Lucid Motors recently disclosed intentions to terminate around 400 jobs which constitutes nearly six percent of its overall workforce amidst an ongoing restructuring plan expected for completion by third quarter’s end. According to CEO Peter Rawlinson, this strategic move aims at enhancing operational efficiency while preparing for their upcoming electric SUV launch later this year—even if they currently lack substantial revenue from that segment.</p><p>This decision follows prior layoffs wherein Lucid had already trimmed down about 1,300 staff members earlier this year.</p><hr><h2>Walgreens Anticipates Potential Store Closures Impacting Jobs</h2><p>Pharmacy chain Walgreens is poised for strategic store closures over the next three years due primarily anticipated financial performance challenges impacting certain locations across their network. Although specific numbers regarding potential job losses have not been clarified yet by spokespersons linked with those decisions, it remains clear that both store management roles and local customer service jobs could be influenced significantly throughout various affected branches forthcoming from these closures.</p><pre><code>html
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<h2>Recent Layoffs Across Major Companies</h2>
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<h3>Walgreens Plans Strategic Store Closures</h3>
<p>Tim Wentworth, CEO of Walgreens, revealed in an interview with the Journal that the company aims to mitigate job losses by transferring employees from stores that are closing to other operational locations. Out of Walgreens' approximately 8,600 stores in the United States, a review is currently underway concerning nearly 25% of them as they evaluate which ones will be shut down.</p>
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<h3>John Deere to Lay Off Over 600 Workers</h3>
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<noscript><img loading="lazy" decoding="async" src="https://i.insider.com/65a5eddc43bb77284b9d2db5?format=jpeg" height="1500" width="2425" alt="John Deere tractors" /></noscript><img class="lazyload" loading="lazy" decoding="async" src='data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%202425%201500%22%3E%3C/svg%3E' data-src="https://i.insider.com/65a5eddc43bb77284b9d2db5?format=jpeg" height="1500" width="2425" alt="John Deere tractors" />
<figcaption>John Deere tractors available at a dealership in Longmont, Colorado.<p class="copyright">Rick Wilking/Reuters</p></figcaption>
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<p>The renowned manufacturer John Deere has announced significant layoffs involving over 600 workers at its manufacturing plants located in Illinois and Iowa. According to an AP report dated July 1st, sales have been declining for three consecutive quarters and are projected to continue decreasing into the latter half of the fiscal year.</p>
</div>
<div class="section">
<h3>Burdensome Job Cuts Expected at Burberry</h3>
<figure>
<noscript><img loading="lazy" decoding="async" src="https://i.insider.com/6225c5e0990863001998a526?format=jpeg" height="1333" width="2000" alt="Burberry emblem"/></noscript><img class="lazyload" loading="lazy" decoding="async" src='data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%202000%201333%22%3E%3C/svg%3E' data-src="https://i.insider.com/6225c5e0990863001998a526?format=jpeg" height="1333" width="2000" alt="Burberry emblem"/>
<figcaption>Burdensome job cuts anticipated at Burberry.<p class="copyright">Anton Novoderezhkin/TASS via Getty Images</p></figcaption>
</figure>
<p>The upscale fashion brand Burberry based in London is preparing for significant downsizing, expected to affect hundreds of employees shortly. Reports from the Telegraph on July 6 indicate that staff were informed during a Zoom call held late June about potential eliminations or needing to seek alternate positions within the company.</p>
</div>
<div class="section">
<h3>Intuit Announces Job Reductions Amid AI Focus Shift</h3>
<figure>
<<noscript><img decoding="async" src="
https://i.insider.com/636c16cff5877200181c2d3e?format=jpeg"
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1333"
width="
2000"
alt="
Intuit logo"/></noscript><img class="lazyload" decoding="async" src='data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%202000%201333%22%3E%3C/svg%3E' data-src="
https://i.insider.com/636c16cff5877200181c2d3e?format=jpeg"
height="
1333"
width="
2000"
alt="
Intuit logo"/>
<<figcaption>Intuit announced it will lay off numerous employees as part of its strategic pivot towards AI advancements.<p
class='copyright'>Chris Helgren/Reuters
</
p></figcaption>>
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</code></pre><h2>Recent Layoffs Shake Major Companies Amid Economic Pressures</h2><p>Several high-profile organizations are implementing workforce reductions as they adapt to shifting market conditions and internal restructuring initiatives. Notably, Intel, WW International (formerly WeightWatchers), Dell Technologies, and Paramount Global have all announced significant layoffs in a strategic move designed to enhance operational efficiency.</p><h3>Intel Faces Challenges Despite Tech Milestones</h3><p>Intel’s recent financial results fell short of expectations, prompting a reconsideration of its business strategy. CEO Pat Gelsinger remarked on the company’s disappointing second-quarter performance, despite achieving crucial technological milestones. “The latter half of the fiscal year presents challenges greater than we anticipated,” he stated. “We are invoking our new operational framework to implement substantial changes that will bolster both our operational efficiency and capital management while expediting our IDM 2.0 transformation.”</p><p>The semiconductor giant’s stock experienced a decline following these underwhelming earnings results. This decision follows last year’s reduction when Intel downsized approximately 5% of its workforce, lowering its employee count to around 124,000 individuals according to reports from Bloomberg. Last October’s layoffs were previously attributed to decreased demand for personal computer processors, with an estimated savings target of $10 billion in costs by 2025.</p><h3>WW International Streamlines Corporate Workforce</h3><p>The weight loss program provider WW International has announced plans for staff reductions affecting corporate roles specifically—most notably targeting positions at or above the vice president level with an anticipated cutback of up to 40% in those areas.</p><p>While specific figures regarding job losses remain unspecified following an earnings call on August 1st, the <a href="https://localnewspatch.com/largest-market-for-meta-ai-india/" title="Meta Declares India as its Biggest Hub for AI Innovation!">chief financial officer</a> projected annual savings of approximately $60 million stemming from these cuts.</p><h3>Dell Refocuses Sales Strategy Towards AI Innovations</h3><p>Dell Technologies also made headlines this week with job cuts within its sales team as it pivots toward artificial intelligence product sales and enhanced data center services. According to reports from Bloomberg, details concerning the overall number of impacted employees were not disclosed; however, leadership communicated that this realignment represents a critical restructuring move intended for greater market focus.</p><p>A company spokesperson noted: “Through redefining our go-to-market strategies alongside ongoing initiatives aimed at optimization，we aim to cultivate a more streamlined organization.” This shift indicates Dell’s commitment towards expanding into technology sectors experiencing growth potential like AI.</p><h3>Paramount Global Plans Significant Workforce Reductions Ahead of Merger</h3><p>In anticipation of merging with Skydance Media，Paramount Global is preparing for substantial job eliminations—approximately 2,000 positions—which equates to around 15% of its United States workforce.<a href="https://www.cnbc.com/2024/08/08/paramount-global-para-q2-earnings-report-2024.html" rel="noopener" target="_blank">Linked source confirms</a>.</p><p>The media conglomerate has identified avenues for cost reduction totaling $500 million prior entering this strategic alignment【expansion】with Skydance whereby cuts will primarily impact departments such as marketing communications，finance，以及legal responsibilities among others starting soon and concluding bylate2024 ante merger completion.【 Insert relevant example/statistics here if needed 】 The announcement indicated some optimism concerning elevate stock value rising over five percent post-announcement amidst broader organizational shifts。</p><div class="read-original"><a href="https://www.businessinsider.com/layoffs-sweeping-us-these-are-companies-making-cuts-2024" target="_blank" rel="noopener">Read the full article on Business Insider </a></div></div></div></div><div class="e-shared-sec entry-sec"><div class="e-shared-header h4"> <i class="rbi rbi-share" aria-hidden="true"></i><span>Share This Article</span></div><div class="rbbsl tooltips-n effect-fadeout 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