Businesses in the US and Canada have begun the year by eliminating thousands of jobs across a range of industries, a hint that the wave of layoffs that began in 2023 may continue as they try to control expenses.

Despite a 20% decrease from a year ago, job loss announcements in the United States more than doubled month over month to 82,307 in January, according to a research released earlier in February by the outplacement company Challenger, Grey & Christmas.

According to tracking website Layoffs.fyi, 141 companies have already announced 34,000 job losses this year, with the technology industry accounting for the biggest number of layoffs in 2023.

A list of the job cutbacks announced in 2024 thus far is provided here:

TECHNOLOGY

Less than 5% of workers at Buy with Prime, 5% at Audible, the company that sells audiobooks and podcasts, several hundred at streaming and studio operations, 35% at Twitch, and a few hundred at Amazon Pharmacy and One Medical are among the staff that Amazon has laid off.

Alphabet has laid off hundreds of people in its advertising sales team, hundreds in its hardware team (which makes Pixel, Nest, and Fitbit devices), hundreds in its augmented reality team, and several dozen in its section dedicated to exploring new technologies, X Lab.

Activision Blizzard and Xbox, two of Microsoft’s gaming operations, are expected to lose 1,900 employees.

IBM intends to increase hiring for roles focused on AI in 2024 while laying off a portion of its workforce.

eBay, an online retailer, intends to eliminate roughly 1,000 positions, or 9% of its workforce.

Unity Software, a producer of videogame software, plans to eliminate 1,800 jobs, or roughly 25% of its staff.

DocuSign is to lay off 400 workers, or around 6% of its personnel, the bulk of whom will be in its marketing and sales departments.

Snap intends to eliminate 528 positions, or 10% of its staff worldwide.

Approximately 700 individuals, or 1% of its global workforce, are being let go by Salesforce.

The massive network company Cisco intends to reorganise its operations, which will include firing thousands of workers.

Company Aurora Innovation, which develops technology for autonomous vehicles, fires 3% of its staff.

Further layoffs are planned by Canada’s BlackBerry, which already trimmed approximately 200 jobs in the previous quarter.

Satellite radio company SiriusXM plans to reduce workforce by about 3%, or about 160 roles.

MEDIA

Pixar Animation Studios, owned by Walt Disney, is planning to lay off employees since some of its series have reached completion.

This year, Comcast-owned Sky, a British media conglomerate, intends to eliminate roughly 1,000 jobs across its businesses.

Ninety-four journalists will be let go by the Los Angeles Times.

Layoffs at Paramount Global are planned in an amount that has not been disclosed.

Business Insider intends to reduce its workforce by approximately 8%.

Bell Canada intends to cut 4,800 positions.

FINANCIAL SERVICES

This year, PayPal Holdings plans to lay off roughly 2,500 employees, or 9% of its total staff worldwide.

Block Inc., a payments company, has begun to eliminate employment without designation.

Over the next two years, Citigroup intends to cut 20,000 positions from its workforce.

As it incorporates fintech company Adenza into its operations, exchange operator Nasdaq intends to eliminate hundreds of positions.

BlackRock, an asset manager, plans to reduce staff by roughly 3% but anticipates having more employees by the end of 2024.

CONSUMER AND RETAIL

Estee Lauder, a huge makeup giant, plans to cut between 3% and 5% of its personnel worldwide.

Wayfair plans to lay off 1,650 employees, or almost 13% of its whole workforce.

2,350 employees will be let go from the American department store major Macy’s as it closes five sites.

Levi Strauss & Co. plans to cut between 10% and 15% of corporate jobs globally.

The restructuring plan of Hershey’s will not affect more than 5% of its workforce.

HEALTH

Novavax is reducing its personnel by roughly 12%.

PRODUCTION

Lockheed Martin, a defence contractor, intends to eliminate 1% of its workforce.

To save expenses, United Parcel Service intends to eliminate 12,000 positions.

NATURAL RESOURCES

American miner Piedmont Lithium reduces staff by 27% as part of a cost-cutting strategy.

(Adapted from Reuters.com)

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