Wrapping up what seems to be an apocalyptic financial year, the job market was one of the most hit victims. Layoffs dominated 2025, with major companies slashing thousands of jobs.
According to Challenger, Gray & Christmas, AI alone accounted for nearly 55,000 U.S. job cuts this year. Overall, companies announced 1.17 million layoffs — the most since 2020, when the pandemic drove that number to 2.2 million. In October, employers announced 153,000 cuts, followed by another 71,000 in November.
Here are 10 major companies that made some of the biggest headcount cuts in 2025.
Amazon
In late October, Amazon announced one of the largest layoffs in the company’s history. Around 14,000 corporate employees — or 4% of Amazon’s 350,000 — were laid off. The reduction was explained as part of CEO Andy Jassy’s initiative to make the company leaner as AI reshapes how work gets done.
In a message to employees, Beth Galetti, Amazon’s senior vice president of People Experience and Technology, said the layoffs are “a continuation of this work to get even stronger by further reducing bureaucracy, removing layers, and shifting resources to ensure we’re investing in our biggest bets.”
UPS
UPS has cut 48,000 jobs so far in 2025 as part of a sweeping turnaround strategy, according to financial disclosures reported in October. About 34,000 operational roles were eliminated and another 14,000 mostly management positions, alongside the closure of 93 leased and owned buildings. The company announced 20,000 job cuts back in April, but the scope expanded as UPS moved aggressively to cut costs, streamline its network, and reduce its reliance on Amazon — its largest customer — by more than 50%. CEO Carol Tomé said the changes were necessary to reshape UPS’s delivery model.
Verizon
Verizon announced in November that it would be slashing over 13,000 jobs, or about 20% of its non-union workforce. It’s one of the largest restructurings in the telecommunication giant ‘s history. New CEO Dan Schulman, barely a month into the role, said the goal is to make the company “faster and more focused” by cutting costs and simplifying bloated operations.
“We must reorient our entire company around delivering for and delighting our customers,” Schulman told employees in a memo.
But to those on the other side of the pink slip, this feels like whiplash rather than a strategic move.
“I was one of the 13,000 managers laid off from Verizon on November 20,” said a former employee on Reddit. “I was a program/project manager in Network Engineering. I’ve applied to over 60 jobs so far and just keep getting rejections.”
By the end of 2024, Verizon had around 100,000 U.S. employees, including 70,000 non-union roles. Nearly 20,000 jobs had already been cut over the previous three years.
Nestlé
Nestlé will be cutting 16,000 jobs worldwide over the next two years, the world’s largest food company announced in October. The company behind KitKat said about 12,000 of those cuts will hit white-collar roles and 4,000 jobs will be cut from manufacturing and supply chain teams. The company cited automation and cost-cutting as key drivers.
“The world is changing, and Nestlé needs to change faster,” said new CEO Philipp Navratil, who took over after the previous chief exec was abruptly ousted for failing to disclose a workplace relationship.
Procter & Gamble
Procter & Gamble is also cutting 7,000 jobs by mid-2027 — about 6.4% of its workforce — mostly through buyouts aimed at senior, higher-paid employees. The cuts target non-manufacturing roles, while the company will also review potential brand sales and trims its global product portfolio. Incoming CEO Shailesh Jejurikar said the move is part of a plan to shift spending toward new product innovation.
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Intel
Intel confirmed in July that it had nearly completed its plan to cut 15% of its workforce — roughly 15,000 jobs — as part of a sweeping effort to restructure under new CEO Lip-Bu Tan.
The company said the staff reduction would create a “faster-moving, flatter and more agile organization,” and tied the move to a $10 billion cost-cutting plan. At the end of 2024, Intel reported 108,900 employees and announced plans to end 2025 with 75,000 in its core Intel division.
American Airlines
American Airlines announced in November that it would lay off hundreds of corporate employees, mostly mid-level managers and support staff, following a Q3 loss of 17 cents per share. The company didn’t provide a head count, but Bloomberg reported the cuts are centered at its Fort Worth headquarters and are part of an effort to “right-size” the organization organically.
General Motors
General Motors confirmed it will lay off 1,140 workers at its Detroit Factory Zero plant starting January 5, 2026, according to a WARN notice filed with the state of Michigan on November 20, 2025.
Most of the affected employees are assembly operators, with some material and quality operators included. The company said the move is tied to a production slowdown caused by weaker EV demand, following the end of the federal EV tax credit in late September.
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Target
In October 2025, Target joined the fray and slashed 1,800 corporate roles — 8% of its corporate workforce — of which 1,000 were layoffs and 800 included unfilled positions eliminated. Most cuts affected the retailer’s headquarters and corporate teams, including merchandising, engineering, analytics, strategy, and HR. The company said the move is part of a broader effort to simplify operations and speed up decision-making.
HP
HP said in November it plans to cut 4,000 to 6,000 jobs globally by the end of fiscal 2028 as part of a restructuring tied to streamlining operations and expanding its AI-driven initiatives.
Teams in product development, internal ops, and customer support will be affected. CEO Enrique Lores said the move is expected to generate $1 billion in savings over three years.
More From Cheapism
- Lay Off on the Layoffs! Job Cuts Are at the Highest Level Since the Pandemic — Find out where cuts are being made, and how you can tell if your job is at risk.
- Amazon, UPS Among Companies Announcing Mass Layoffs This Week — It’s a concerning sign for the economy’s health and an even bigger problem for workers being laid off right before the holidays.
- ‘Red Lobster Strikes Again’: 200 Employees Laid Off Right Before the Holidays — The company says the cuts represent “less than 1%” of its workforce and are part of a “targeted” restructuring plan.
