Global corporations are making significant changes this week. A number of them have just announced mass layoffs of tens of thousands of people due to economic downshifts, tariffs, and even AI. It’s a concerning sign for the economy’s health and an even bigger problem for workers being laid off right before the holidays. Here’s every company that announced big job cuts in only the last few days.
Amazon
Amazon announced in a memo on its website that it was laying off 14,000 corporate employees. Though the company is performing well, it cited the need to be “organized more leanly, with fewer layers and more ownership, to move as quickly as possible for our customers and business” due to how AI is changing the business landscape.
Affected employees will have 90 days to find another position within the company. If that’s not possible, they will receive severance, outplacement services, and health insurance benefits. Currently, Amazon has 350,000 corporate employees.
Target
Target is laying off 1,000 corporate employees, the company announced earlier this week. It denied that the layoffs were to cut costs, despite seriously slumping sales due to customer backlash over walking back its DEI initiatives and programs. Like Amazon, it cited enhancing flexibility and speed within the organization as reasons for the job cuts.
Laid-off employees received notices on October 28. They’ll get pay and benefits through January 3, 2026, and also receive severance packages.
UPS
UPS has cut a whopping 48,000 jobs in 2025, the company revealed in a regulatory filing this week. Operational positions, including drivers, accounted for 34,000 of those jobs, while the remaining 14,000 came from management ranks. UPS cited boosting efficiency and companywide streamlining efforts for the cuts.
Paramount
Paramount, which has just merged with Skydance Media to form one company, is laying off 1,000 this week, according to Reuters. It’s only the beginning of layoffs at the company, and more are expected later. In total, the company is expected to lay off 2,000 of its roughly 18,000 U.S. employees.
Carter’s
Popular children’s clothing retailer Carter’s just announced that it will be laying off 300 employees. The positions will be office-based roles, and will add up to about 15% of the company’s corporate workforce. The company is planning to pay for severance packages and outplacement services for those affected in the first half of 2026.
In addition to the layoffs, Carter’s is also closing 150 stores. While the company did not release a list of affected stores, we do know that 100 closures will occur by the end of next year, and the remaining in 2027. The company cited tariffs implemented by President Trump as a major factor in the closings and layoffs.
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Nestlé
In mid-October, global brand Nestlé announced it would cut 16,000 jobs worldwide as part of cost-cutting measures over the next two years. The move comes as the company faces external factors such as ever-changing tariffs and rising prices for coffee and cocoa.
Disneyland
Disneyland Resort announced it will be laying off 100 employees, according to SF Gate. The layoffs are expected to come from several departments at the theme park, including cast members, what Disney calls employees who work with the public. It’s unclear exactly when the layoffs will happen.
