Layoffs are piling up, heightening worker anxiety. Here are some of the biggest recent job cuts

Job Market Anxiety Rises as Layoffs Accelerate Across Industries

Worker anxiety is mounting as layoffs continue to spread across sectors of the U.S. economy, with a growing number of major corporations announcing significant workforce reductions amid economic uncertainty.

The job market has effectively reached a “no-hire, no-fire” standstill for many businesses, with U.S. employers adding just 50,000 jobs last month, down from a revised 56,000 in November. This stagnation comes as companies grapple with rising operational costs stemming from multiple pressures, including President Trump’s new tariffs, persistent inflation, and shifting consumer spending.

Consumer outlook on the U.S. economy has plummeted to its lowest level since 2014, further complicating the employment landscape. Simultaneously, many corporations are redirecting resources toward artificial intelligence investments as part of broader restructuring efforts, often at the expense of human workers.

The private sector is not alone in this trend. Thousands of federal government employees lost their jobs in cuts implemented by the Trump administration last year, forcing many to seek new employment and further straining worker sentiment about job security.

Several major corporations have recently announced substantial job cuts:

Amazon delivered a double blow to its workforce, eliminating about 16,000 corporate roles just three months after laying off 14,000 workers. The e-commerce giant cited efforts to remove “bureaucracy” in its operations, but these reductions coincide with increased AI investments. CEO Andy Jassy previously indicated that generative AI would likely reduce Amazon’s corporate workforce.

UPS plans to cut up to 30,000 operational jobs this year through voluntary buyouts for full-time drivers and attrition. This comes as the package delivery company reduces its Amazon shipment volume amid broader turnaround efforts. These cuts follow a combined 48,000 job reductions that UPS disclosed in 2025.

In the food sector, Tyson Foods announced the closure of a plant in Lexington, Nebraska, affecting 3,200 workers—nearly a third of the small town’s population. Layoffs began on January 20, with about 300 workers temporarily retained to assist with the closure. Tyson also plans to eliminate one shift at an Amarillo, Texas plant, cutting an additional 1,700 jobs.

The tech industry continues to see significant workforce reductions. HP expects to lay off between 4,000 and 6,000 employees by the end of fiscal 2028 as part of its operational streamlining initiative, which includes adopting AI to boost productivity. Microsoft conducted two rounds of mass layoffs last year, affecting 6,000 and then 9,000 positions, citing “organizational changes” while simultaneously increasing AI investments.

Telecommunications giant Verizon began laying off more than 13,000 employees in November. CEO Dan Schulman stated the company needed to simplify operations and “reorient” the entire organization.

Consumer goods companies are not immune either. Procter & Gamble announced plans to cut up to 7,000 jobs—6% of its global workforce—over two years. The maker of Tide detergent and Pampers diapers cited restructuring needs amid tariff pressures.

International corporations are also implementing substantial cuts. Swiss food giant Nestlé plans to eliminate 16,000 jobs globally over two years to improve financial performance amid rising commodity costs and U.S.-imposed tariffs. Danish pharmaceutical company Novo Nordisk, which makes Ozempic and Wegovy, announced 9,000 job cuts—about 11% of its workforce—as part of restructuring while facing increased competition in the obesity and diabetes medication markets.

Semiconductor manufacturer Intel expects to end 2025 with 75,000 “core” workers, down from 99,500, through layoffs and attrition as it works to revitalize its business. The company previously announced a 15% workforce reduction.

Other notable job cuts include General Motors reducing about 1,700 manufacturing positions in Michigan and Ohio, Skydance-owned Paramount eliminating roughly 2,600 positions, Target cutting approximately 1,800 corporate jobs, ConocoPhillips planning to reduce up to a quarter of its workforce, and Lufthansa Group announcing 4,000 job cuts by 2030.

These widespread reductions across diverse industries signal continuing challenges in the labor market and are likely to exacerbate worker concerns about long-term employment stability in an increasingly uncertain economic environment.