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Global firms slash jobs amid weak sentiment, AI push
- Tuesday, Amazon said it will cut about 14,000 corporate jobs, close to 4% of its workforce, while CEO Andy Jassy said generative AI will reduce corporate staffing in the coming years.
- Some companies cite redirecting funds to artificial intelligence investments and broader corporate restructuring, while rising operational costs including U.S. imposed tariffs and shifts in consumer spending have driven layoffs.
- United Parcel Service has cut about 34,000 operational positions and announced another 14,000 role reductions, while Nestlé said in mid-October it would cut 16,000 jobs globally over two years.
- Workers across sectors face rising anxiety as sizeable layoffs pile up, while the U.S. government shutdown and an ADP survey earlier this month showing 32,000 private-sector jobs loss add uncertainty.
- Most reductions were expected before the end of 2025, and Intel told employees in a July memo that it expects to end the year with about 75,000 core workers, down from 99,500 last year.
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Global firms slash jobs amid weak sentiment, AI push
Companies around the globe have ramped up job cuts, with blue-chips from Amazon to Nestle and UPS reining in spending while consumer sentiment dims and AI-focused tech companies start to replace jobs with automation.
·United Kingdom
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Coverage Details
Total News Sources85
Leaning Left22Leaning Right8Center43Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 30%
C 59%
11%
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