A Starbucks store sign is seen in New York City, U.S., February 25, 2025. REUTERS
March 19 (Reuters) – U.S. companies have initiated layoffs across sectors as they attempt to streamline operations amid economic uncertainties, following similar cutbacks seen last year.
The Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS report, from early February showed vacancies were down 1.3 million over the year at the end of December, while remaining above the 2019 average, suggesting that the labor market was slowing down but not abruptly.
Here are some of the companies that have announced job cuts so far in 2025:
|
Sector
|
Company
|
Layoffs/Job Cuts
|
% of Total Workforce
|
|
Consumer and Retail
|
|||
|
Starbucks (SBUX.O)
|
1,100
|
0.52%
|
|
|
Brown-Forman (BFb.N)
|
648
|
12%
|
|
|
Kohl’s (KSS.N)
|
9,600
|
10%
|
|
|
Estee Lauder (EL.N)
|
7,000
|
11.29%
|
|
|
Amazon (AMZN.O)
|
1,700 full-time
|
Unknown
|
|
|
Walmart (WMT.N)
|
Hundreds of roles in North Carolina
|
Unknown
|
|
|
Wayfair (W.N)
|
730 in Germany
|
Unknown
|
|
|
Aviation and Space
|
|||
|
Southwest Airlines (LUV.N)
|
1,750
|
15% of corporate roles
|
|
|
Blue Origin
|
1,400
|
10%
|
|
|
Energy and Natural Resources
|
|||
|
Chevron (CVX.N)
|
8,000
|
20%
|
|
|
Halliburton (HAL.N)
|
290
|
Unknown
|
|
|
Lyondell Basell (LYB.N)
|
400
|
Unknown
|
|
|
SolarEdge Technologies (SEDG.O)
|
400
|
Unknown
|
|
|
Archer-Daniels-Midland (ADM.N)
|
Up to 700
|
1.70%
|
|
|
Dow (DOW.N)
|
1,500
|
4.17%
|
|
|
Technology and Media
|
|||
|
Meta Platforms (META.O)
|
5% of “lowest performers”
|
Unknown
|
|
|
Microchip Technology (MCHP.O)
|
2,000
|
9%
|
|
|
Healthcare and Pharma
|
|||
|
* UnitedHealth (UNH.N)
|
Unknown
|
Unknown
|
|
|
Bio Rad (BIO.N)
|
Unknown
|
5%
|
|
|
Banking and Finance
|
|||
|
*Morgan Stanley(MS.N)
|
About 2,000
|
2% to 3%
|
* UnitedHealth was offering employees in its benefits operations unit the option to accept buyouts in February and may pursue layoffs if the resignation quota is not met, according to a CNBC report.
* Morgan Stanley layoffs are aimed at improving operational efficiency and unrelated to current market conditions, a person familiar with the matter told Reuters.
Reporting by Seher Dareen in Bengaluru; Additional reporting by Manya Saini; Editing by Arpan Varghese and Krishna Chandra Eluri
