Adidas plans to cut up to 500 jobs in Germany.
Adidas intends to reduce the size of its workforce at its headquarters in Herzogenaurach, Germany, impacting up to 500 jobs, CNBC reported.If fully executed, it amounts to a reduction of nearly 9% at the company headquarters, which employs about 5,800 employees, according to the Adidas website.The news comes shortly after the company announced it had outperformed its profit expectations at the end of 2024, touting “better-than-expected” results in the fourth quarter.”Strong growth across all regions and divisions proves the good job our teams are doing across regions and functions,” CEO Bjrn Gulden said in a press release. “So although we are not yet where we want to be long term, I am very happy with this development which was much better than we had expected.”Adidas did not immediately respond to a request for comment regarding the impending layoffs.
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Ally is cutting less than 5% of workers.
Digital financial company Ally is laying off roughly 500 of its 11,000 employees, a spokesperson confirmed to BI. The impacted employees were notified on Tuesday.”As we continue to right-size our company, we made the difficult decision to selectively reduce our workforce in some areas, while continuing to hire in our other areas of our business,” the spokesperson said.The spokesperson also said the company is offering severance, out-placement support, and the opportunity to apply for openings at Ally.Ally made a similar level of cuts in October 2023, the Charlotte Observer reported.
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Automattic, Tumblr’s parent, cuts 16% of staff
Automattic, the parent company of Tumblr and WordPress, said in April it is cutting 16% of its staff globally. The company’s website said it has nearly 1,500 employees.Automattic’s CEO, Matt Mullenweg, said in a note to employees posted online that the company has reached an “important crossroads.””While our revenue continues to grow, Automattic operates in a highly competitive market, and technology is evolving at unprecedented levels,” the note read.”As difficult as this decision has been, the company is restructuring to improve its “productivity, profitability, and capacity to invest,” it added.The company said it was offering severance and job placement resources to affected employees.
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BlackRock is cutting 1% of its workforce.
BlackRock told employees it plans to cut about 200 people of its 21,000-strong workforce, according to Bloomberg.The reductions are more than offset by some 3,750 workers added last year and another 2,000 expected to be added in 2025.BlackRock President Rob Kapito and Chief Operating Officer Rob Goldstein said the cuts will help realign the firm’s resources with its strategy, Bloomberg reported.
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Block to lay off nearly 1,000 workers
Jack Dorsey’s fintech company, Block, is laying off nearly 1,000 employees, according to TechCrunch and The Guardian, in its second major workforce reduction in just over a year.The company, which operates Square, Afterpay, CashApp, and Tidal, is transitioning nearly 200 managers into non-management roles and closing almost 800 open positions, according to an email obtained by TechCrunch.Dorsey, who co-founded Block in 2009 after previously leading Twitter, announced the layoffs on Tuesday in an internal email titled “smaller block.”The restructuring is part of a broader effort to streamline operations, though Block maintains the changes are not driven by financial targets or AI replacements.
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Bloomberg is making cuts in an overhaul of its newsroom
Bloomberg is cutting some editorial staff as the company reorganizes its newsroom, according to a memo viewed by BI. The larger strategy aims to have a larger headcount by the end of this year, however.The newsroom currently employs around 2,700 people, and the changes will merge some smaller teams into larger units, the memo said.
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Blue Origin is laying off one-tenth of its workforce
Jeff Bezos’s rocket company, Blue Origin, is laying off about 10% of its workforce, a move that could affect more than 1,000 employees.In a memo sent to staff on Thursday obtained by Business Insider, David Limp, the CEO of Blue Origin, said the company’s priority going forward was “to scale our manufacturing output and launch cadence with speed, decisiveness and efficiency for our customers.”Limp specifically identified roles in engineering, research and development, and management as targets.”We grew and hired incredibly fast in the last few years, and with that growth came more bureaucracy and less focus than we needed,” Limp wrote. “It also became clear that the makeup of our organization must change to ensure our roles are best aligned with executing these priorities.”The news comes after last month’s debut launch of the company’s partially reusable rocket — New Glenn.
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Boeing cut 400 roles from its moon rocket program
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BP slashed 7,700 staff and contractor positions worldwide
BP told Business Insider it plans to cut 4,700 staff and 3,000 contractors, amounting to about 5% of its global workforce.The cuts are part of a program to “simplify and focus” BP that began last year.”We are strengthening our competitiveness and building in resilience as we lower our costs, drive performance improvement and play to our distinctive capabilities,” the company said.
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Bridgewater cut about 90 staff
Bridgewater Associates cut 7% of its staff on Monday in an effort to stay lean, a person familiar with the matter told Business Insider.The layoffs at the world’s largest hedge fund bring its head count back to where it was in 2023, the person said.Founder Ray Dalio said in a 2019 interview that about 30% of new employees leave the firm within 18 months.
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Bumble said it intends to cut 30% of its workforce.
ChatGPT suggested bumblebee-themed jewelry for Bumble founder Whitney Wolfe Herd, undoubtedly drawing from the company’s bee motif, as well as a wellness package “promoting a healthy work-life balance.” The chatbot suggests a high-quality ergonomic chair, a wellness app subscription, and a relaxation and self-care kit. It might actually fit well into Wolfe Herd’s routine — she’s said she likes to rise with the sun, hydrate first thing in the morning, and keeps a yoga mat next to her bed.
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Burberry says it plans on cutting 1,700 jobs
Burberry announced 1,700 job cuts in May, or about 18% of its global workforce, as part of plans to cut costs by about 100 million ($130 million) by 2027.It plans to end night shifts at its Yorkshire raincoat factory due to production over-capacity.The British company sunk to an operating loss of 3 million for the year to the end of March, compared with a 418 million profit for the previous 12 months.
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Chevron is slashing up to 20% of its global head count
The most recent company to depart California, Chevron, announced that its headquarters will move from San Ramon to Houston before the end of 2024.The energy mammoth said the move will help join senior leaders and “enable better collaboration and engagement with executives, employees, and business partners.”Chevron already has about 7,000 employees in the Houston area and 2,000 in San Ramon and expects all corporation functions to move to Texas within the next five years, it said in a statement.
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CNN plans to cut 200 jobs
Cable news giant CNN is cutting about 200 television-focused roles as part of a digital pivot. The cuts will amount to about 6% of the company’s workforce.In a memo sent to staff on Thursday, CNN’s CEO Mark Thompson said he aimed to “shift CNN’s gravity towards the platforms and products where the audience themselves are shifting and, by doing that, to secure CNN’s future as one of the world’s greatest news organizations.”
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Coty is cutting about 700 jobs
Coty, which sells the cosmetics and fragrances under brands including Kylie Cosmetics, Calvin Klein, and Burberry, is cutting about 700 jobs.The company said on April 24 it aimed to cut costs by $130 million a year. Sue Nabi, the CEO, said it aimed to build a “stronger, more resilient Coty that is well-positioned for sustainable growth.”
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CrowdStrike is cutting about 500 jobs
CrowdStrike, the Texas-headquartered cybersecurity firm, is cutting about 500 jobs, or 5% of its global workforce, as part of a strategic plan to “yield greater efficiencies.”It expects the layoffs to cost between $36 million and $53 million.CrowdStrike is aiming to generate $10 billion in annual recurring revenue.The company reported worse-than-expected annual results in March, signaling that it was yet to fully recover from a widespread tech outage linked to CrowdStrike in July 2024.
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Disney says it’s laying off several hundred employees
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Este Lauder will cut as many as 7,000 jobs
Cosmetics giant Este Lauder said in its second-quarter earnings release that it will cut between 5,800 and 7,000 jobs as the company restructures over the next two years.The cuts will focus on “rightsizing” certain teams, and it will look to outsource certain services. The company says it expects annual gross benefits of between $0.8 billion and $1.0 billion before tax.
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Geico has axed tens of thousands of workers
Berkshire Hathaway Vice Chair of Insurance Operations Ajit Jain says Geico has reduced its workforce from about 50,000 to about 20,000. Jain revealed the reductions during Berkshire Hathaway’s annual meeting on May 3 but did not detail over what time frame they took place. Berkshire Hathaway is one of Geico’s parent companies. Warren Buffett’s company reported its 2025 first-quarter earnings on during the May 3 meeting, saying Geico earned nearly $2.2 billion in pre-tax underwriting.
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GrubHub announced 500 job cuts
Grubhub CEO Howard Migdal announced 500 job cuts on February 28 after selling the company to Wonder Group for $650 million.With more than 2,200 full time employees, the number of cuts will affect more than 20% of Grubhub’s previous workforce.According to Reuters, Just Eat Takeaway, an Amsterdam-listed company, sold Grubhub at a steep loss compared to the billions it paid a few years prior after grappling with slowing growth and high taxes.
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HPE is laying off 2,500 employees
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Intel to cut at least 15% of its factory workers
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Johns Hopkins University
Johns Hopkins University will cut over 2,000 jobs after losing $800 million in funding from USAID, according to multiple reports.The news comes after the Trump administration slashed USAID personnel down from over 10,000 to around 300. Secretary of State Marco Rubio recently confirmed that 83% of the agency’s programs are now dead.The layoffs at Johns Hopkins represent the “largest” in the University’s history, CNN reported. They’ll primarily affect the schools of medicine and public health, along with the Center for Communication Programs and Jhpiego, a nonprofit with a focus on preventing diseases and bolstering women’s health, according to the report.The job cuts have reportedly hit the university’s international staff the hardest, with 1,975 employees from 44 countries already fired. Another 247 jobs were reportedly cut in the US.
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Kohl’s is reducing about 10% of its roles
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Meta is cutting 5% of its workforce
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Microchip Technology is slashing 2,000 jobs
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Microsoft has made several rounds of cuts this year
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Morgan Stanley plans cuts for the end of March
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Nissan says it will cut 20,000 jobs by 2027
Japanese car giant Nissan is cutting 20,000 jobs by 2027 and reducing the number of factories it operates from 17 to 10 as it struggles with a dire financial situation.The job losses include the 9,000 layoffs announced late last year, and come as the automaker faces headwinds from US tariffs on imported vehicles and collapsing sales in China.The company reported a net loss of 671 billion Yen ($4.5 billion) for the 2024 financial year, and said it would not issue an operating profit forecast for 2025 because of uncertainties over Trump’s tariffs.
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Panasonic is cutting 10,000 jobs
Panasonic, the Japanese-headquartered multinational electronics manufacturer, plans to cut 10,000 jobs this financial year, which ends in March 2026. The cuts will affect 5,000 roles in Japan and 5,000 overseas.In a statement on Friday, May 9, the company said it planned to “thoroughly review operational efficiency mainly in sales and indirect departments, and reevaluate the numbers of organisations and personnel actually needed.””Through these measures, the company will optimize our personnel on a global scale,” the statement added.
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Paramount is cutting 3.5% of its US workforce
Paramount Global is planning to cut about 2,000 jobs ahead of its merger with Skydance Media, CNBC reported.The company identified $500 million in cost savings as it prepared to join forces with Skydance, totalling about 15% of its US workforce, according to the outlet.The cuts will begin in a few weeks and will mostly be finished by the end of 2024. Paramount employees in marketing and communications, finance, legal, technology, and other support functions have been targeted, the company said in a Thursday earnings call. The cuts come about a month after Paramount agreed to merge with Skydance. Paramount shares jumped more than 5% after hours on Thursday.
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Porsche is cutting 3,900 jobs over the next few years
Porsche said on March 12 that it plans to cut 3,900 jobs in the coming years.About 2,000 of the reductions will come with the expiration of fixed-term contractor positions, the German automaker said Wednesday. The company will make the other 1,900 reductions by 2029 through natural attrition and limiting hiring, it said.Porsche said it also plans to discuss more potential changes with labor leaders in the second half of the year. “This will also make Porsche even more efficient in the medium and long term,” the company said.
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PwC is laying off approximately 2% of its US workforce
Thompson worked at the accounting firm PricewaterhouseCoopers, or PwC, from 1997 to 2004 as a manager in the firm’s audit and transaction advisory services groups, according to his LinkedIn profile.
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Salesforce is cutting more than 1,000 jobs
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Scale AI is cutting 14% of its workforce
On July 16, Scale AI laid off about 200 full-time employees and 500 contractors, according to the company.The 200 full-time cuts make up 14% of the data labeling startup’s 1,400-person workforce.The company is restructuring its generative AI group, according to an email from Scale’s interim CEO, Jason Droege, obtained by Business Insider.The cuts follow Meta’s $14 billion investment in Scale AI last month as part of a blockbuster deal. The deal included the hiring of Scale’s ex-CEO, Alexandr Wang, and the purchase of equity in almost half of the startup.
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Sonos cuts about 200 jobs
Sonos, a California-based audio equipment company, said in a February 5 release that it’s cutting about 200 roles.The announcement came nearly a month after Sonos CEO Patrick Spence stepped down from his position following a disastrous app rollout. The company’s interim CEO Tom Conrad said in the statement that the layoff was part of an effort to create a “simpler organization.””One thing I’ve observed first hand is that we’ve become mired in too many layers that have made collaboration and decision-making harder than it needs to be,” Conrad said. “So across the company today we are reorganizing into flatter, smaller, and more focused teams.”
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Southwest Airlines
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Starbucks is laying off 1,100 corporate staff
Global coffee chain Starbucks announced it is planning layoffs in March. In a memo to staff on January 21, Brian Nicoll, the company’s chairman and CEO, said: “We need to meaningfully change how our support teams are organized and how we work,” and as part of that, “we will have job eliminations and smaller support teams moving forward.”Nicoll said the changes would be communicated to staff by early March.
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Stripe laid off 300 employees
Payments platform Stripe is cutting 300 employees, primarily in product, engineering, and operations, according to a January 20 memo obtained by BI.Chief People Officer Rob McIntosh said in the memo that the company still planned on growing its head count to about 10,000 employees by the end of the year.
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UPS is cutting 20,000 jobs
UPS announced on April 29 that it plans to cut 20,000 jobs this year — about 4% of its global workforce — as part of a shift toward automation and a strategic reduction in business with Amazon.”With our action, we will emerge as an even stronger, more nimble UPS,” the company’s CEO, Carol Tom, said in a statement on Tuesday. The move follows a sharp 16% drop in Amazon package volume last quarter and is part of a plan to halve its Amazon business by mid-2026. UPS will also close 73 US buildings by June and automate 400 facilities to reduce labor dependency.The Teamsters union have said they would fight any layoffs affecting its members.
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The Washington Post cut 4% of its non-newsroom workforce
The Washington Post is eliminating less than 100 employees in an effort to cut costs, Reuters reported Tuesday.A spokesperson told the wire service that the changes would occur across multiple areas of the business and indicated that the cuts would not affect the newsroom.”The Washington Post is continuing its transformation to meet the needs of the industry, build a more sustainable future and reach audiences where they are,” the spokesperson said, according to Reuters.
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Wayfair laid off 340 tech employees
Wayfair announced in an SEC filing on March 7 that it would eliminate its Austin Technology Development Center and lay off around 340 tech workers.The reorg comes as the technology team has accomplished “significant modernization and replatforming milestones,” the company said in the filing. Wayfair said it plans to refocus resources and streamline operations to promote its “next phase of growth.””With the foundation of this transformation now in place, our technology needs have shifted,” the company said.Wayfair expects to take on $33 to $38 million in costs as a result of the reorganization, consisting of severance, cash employee-related costs, benefits, and transitional costs.
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Workday cut more than 8% of its workforce
Workday, the human-resources software company, said in February that it is cutting 8.5% of its workforce, or around 1,750 employees. The layoffs come as the company focuses more on artificial intelligence.In a note to employees, CEO Carl Eschenbach said that Workday will focus on hiring in areas related to artificial intelligence and work to expand its global presence.”The environment we’re operating in today demands a new approach, particularly given our size and scale,” Eschenbach wrote. He said that affected employees will get at least 12 weeks of pay.
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