By WYATTE GRANTHAM-PHILIPS, Associated Press Business Writer
NEW YORK (AP) — Itap a tough time to be .
Amid wider economic uncertainty, some analysts have said that businesses are at a standstill. Thatap caused many to only a few specific roles, if not pause openings entirely. At the same time, sizable layoffs have continued to pile up — raising worker anxieties across sectors.
Some companies have pointed to rising operational costs spanning from U.S. President Donald Trump’s barrage of new and shifts in consumer spending. Others cite corporate restructuring more broadly — or are redirecting money to artificial intelligence.
Federal employees have encountered additional doses of uncertainty, impacting worker sentiment around the job market overall. Shortly after Trump returned to office at the start of the year, federal jobs were . And the record also left many .
The impasse put key economic data on hold, too. In a delayed report released last week, the Labor Department said U.S. employers in September. But unemployment rose to 4.4% — and other troubling details emerged, including revisions showing the economy actually lost 4,000 jobs in August. The shutdown also resulted in holes for more recent hiring numbers. The government says it a full jobs report for October.
Here are some of the largest job cuts announced recently:
HP
In November, HP said this week it expected to lay off between 4,000 and 6,000 employees. The cuts are part of a wider initiative from the computer maker to streamline operations, which includes adopting AI to increase productivity. The company aims to complete these actions by the end of the 2028 fiscal year.
Verizon
Also in November, Verizon began . In a staff memo announcing the cuts, CEO Dan Schulman said that the telecommunications giant needed to simplify operations and “reorient” the entire company.
General Motors
General Motors will across manufacturing sites in Michigan and Ohio in late October, as the auto giant adjusts to slowing demand for . Hundreds of additional employees are slated for “temporary layoffs” at the start of next year.
Paramount
In long-awaited cuts just months after completing , Paramount plans to lay off about 2,000 employees — about 10% of its workforce. Paramount initiated in late October, according to a source familiar with the matter.
In November, Paramount also announced plans to eliminate 1,600 positions as part of divestitures of Televisión Federal in Argentina and Chilevision in Chile. And the company said another 600 employees had chosen voluntary severance packages as part of a coming push to return to the office full-time.
Amazon
Amazon said in October that it will , close to 4% of its workforce, as the online retail giant ramps up spending on AI while trimming costs elsewhere. A letter to employees said most workers would be given 90 days to look for a new position internally.
UPS
United Parcel Service this year as part of turnaround efforts, which arrive amid wider shifts in the company’s shipping outputs. UPS also closed daily operations at 93 leased and owned buildings during the first nine months of this year.
Target
Target in October said it would , or about 8% of its corporate workforce globally. The retailer said the cuts were part of wider streamlining efforts.
ٱé
In mid-October, ٱé said it would be — as part of wider cost cutting aimed at reviving its financial performance amid headwinds like rising commodity costs and U.S. imposed . The Swiss food giant said the layoffs would take place over the next two years.
Lufthansa Group
In September, Lufthansa Group said it would shed 4,000 jobs by 2030 — pointing to the adoption of , digitalization and consolidating work among member airlines.
Novo Nordisk
Also in September, Danish pharmaceutical company Novo Nordisk , about 11% of its workforce. The company — which makes drugs like Ozempic and Wegovy — said the layoffs were part of wider restructuring, as it works to sell more obesity and diabetes medications amid rising competition.
ConocoPhillips
Oil giant ConocoPhillips announced plans in September to , as part of broader efforts from the company to cut costs. Between 2,600 and 3,250 workers were expected to be impacted, with most layoffs set to take place before the end of 2025.
Intel
Intel has moved to shed thousands of jobs — with the struggling chipmaker working to revive its business. In July, CEO Lip-Bu Tan said Intel expected to , excluding subsidiaries, through layoffs and attrition. Thatap down from 99,500 core employees reported the end of last year. The company previously announced a .
Microsoft
In May, Microsoft across its workforce. And just months later, the tech giant said it would be — marking its biggest round of layoffs seen in more than two years. The company has cited “organizational changes,” but the labor reductions also arrive as the company spends heavily on AI.
Procter & Gamble
In June, Procter & Gamble said it would over the next two years, 6% of the company’s global workforce. The maker of Tide detergent and Pampers diapers said the cuts were part of a wider restructuring — also arriving amid tariff pressures.
