Dec 6 (Reuters/GNA) – 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, the highest since February 2021, according to a report.
Here are some of the major job cuts announced in recent weeks:
Amazon.com Inc, 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, 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.
GNA/ Credit: Reuters