Companies Announcing Major Layoffs and Hiring Freezes In the wake of economic uncertainty and a shift towards more cautious financial management, several major companies have recently announced significant layoffs and hiring freezes. As businesses grapple with rising operational costs, fluctuating market demands, and the impact of global economic challenges, the workforce is facing increasing insecurity. This article delves into the recent wave of layoffs, the industries most affected, and what these moves mean for employees and businesses alike.
Intellizence provides the latest insights into layoffs, downsizing, job cuts, and hiring freezes, delivering essential market intelligence, customer insights, sales intelligence, and risk analysis. We track key public sources such as news reports and WARN filings to keep you informed of the most recent announcements. Our platform aggregates, de-duplicates, and normalizes this information, providing you with reliable data via both an API and web dashboard.
Layoff Data Updates:
- Since January 1, 2024: Over 5,700 companies have announced large-scale layoffs. [Last update: December 31, 2024]
- Since January 1, 2025: More than 190 companies have announced significant layoffs. [Last update: January 21, 2025]
Recent Layoff Announcements (Week of January 31, 2025)
- January 31, 2025: Amazon announces another round of layoffs.
- January 30, 2025: Over 900 jobs will be cut as Millers and Noni B store
- January 29, 2025: Tesco to eliminate 400 jobs across stores and head office.
- January 28, 2025: **ViewofUbisoft confirms 185 layoffs as it closes its former DJ Hero studio and downsizes other divisions.
- January 27, 2025: Hays, the global recruiter, to lay off 17% of its Irish workforce amid signals of a slowdown in Ireland’s multinational job market.
Sainsbury’s
- Employees to be Laid off: 3,000
- Industry: Retail
- Date: January 2025
Sainsbury’s has announced plans to eliminate 3,000 jobs as part of a restructuring initiative. The company will close its remaining cafés, as well as its patisserie and pizza counters, citing that these services are underused by most customers. In addition, there will be a 20% reduction in senior management roles, a move aimed at simplifying the business amid a challenging cost environment.
Amazon
- Employees to be Laid off: 1,700
- Industry: Retail
- Date: January 2025
Amazon is set to close its facilities in Quebec, resulting in the loss of nearly 2,000 jobs, including 1,700 permanent positions. The company will shift its delivery operations to smaller contractors as part of a broader restructuring strategy.
Bridgestone Americas
- Employees to be Laid off: 700
- Industry: Automobile
- Date: January 2025
Bridgestone Americas is closing its La Vergne tire plant later this year, which will affect 700 workers in Rutherford County. This decision is part of the company’s efforts to “optimize its business footprint” and enhance competitiveness within the automotive parts sector.
BP
- Employees to be Laid off: 7,700
- Industry: Energy & Utilities
- Date: January 2025
BP is cutting over 5% of its global workforce, impacting 4,700 employees and 3,000 contractor positions. The company is focused on becoming a simpler, more focused organization with higher value, despite these significant reductions. CEO Bernard Looney outlined that while progress is being made, further actions will follow as BP reshapes for future growth.
Meta
- Employees to be Laid off: 3,600
- Industry: Technology
- Date: January 2025
Meta is laying off around 5% of its workforce, targeting lower-performing employees. CEO Mark Zuckerberg shared the news with staff, explaining that the company will expedite the departure of low performers in order to streamline operations. Zuckerberg also emphasized that 2025 will be a challenging year for the company.
Gazprom
- Employees to be Laid off: 4,100
- Industry: Energy & Utilities
- Date: January 2025
Gazprom, Russia’s state-owned oil giant, is set to lay off 1,600 employees from its St. Petersburg central office as part of a workforce reduction that will affect a total of 4,100 staff.
Renesas
- Employees to be Laid off: 1,000
- Industry: Manufacturing
- Date: January 2025
Renesas, the Japanese chipmaker, will cut about 1,000 jobs, representing less than 5% of its global workforce, due to weaker demand for its chips. This comes as the company faces challenges despite serving major clients like Toyota and Nissan. Additionally, Renesas has canceled planned salary increases, including for executives.
Wayfair
- Employees to be Laid off: 1,000
- Industry: Retail
- Date: January 2025
Wayfair is shutting down its operations in Germany, impacting approximately 730 employees. The company intends to relocate about half of these positions to other offices within its corporate network.
Renesas Electronics
- Employees to be Laid off: 1,000
- Industry: Manufacturing
- Date: January 2025
Renesas Electronics, a key player in the chip industry, will reduce its workforce by around 1,000 employees—less than 5% of its total staff. The layoffs are a result of decreased demand for its products in a challenging market.
Gazprom
- Employees to be Laid off: 1,600
- Industry: Energy & Utilities
- Date: January 2025
Gazprom, Russia’s state-run oil company, is laying off 1,600 employees from its St. Petersburg central office as part of a broader workforce reduction affecting 4,100 staff members.
BlackRock
- Employees to be Laid off: 1% of Workforce
- Industry: Financial Services
- Date: January 2025
BlackRock is cutting about 1% of its workforce after committing over US$25 billion to acquisitions aimed at expanding its reach in private market assets and data. The layoffs are part of an effort to align resources with the company’s strategic goals.
Colibrium Additive
- Employees to be Laid off: 48% of its Workforce
- Industry: Manufacturing
- Date: January 2025
Colibrium Additive, a GE-owned company producing industrial 3D printers, plans to lay off 40% to 48% of its workforce in Germany following significant losses in 2024. The cuts are part of a restructuring process aimed at addressing these financial challenges.
Tenneco
- Employees to be Laid off: 140
- Industry: Automotive Manufacturing
- Date: January 2025
Tenneco, a global vehicle parts manufacturer, is laying off 140 workers at its El Paso plant as part of a worldwide downsizing effort to streamline operations.
Bags Inc.
- Employees to be Laid off: 246
- Industry: Tourism & Hospitality
- Date: December 2024
Bags Inc., a valet service provider, will eliminate approximately 246 positions at several Walt Disney World Resort hotels where it operates valet services.
Helvetia
- Employees to be Laid off: 500
- Industry: Insurance
- Date: December 2024
Helvetia, a Swiss insurance company, is planning to cut 500 jobs as part of an efficiency program aimed at saving approximately 200 million francs ($224 million) over the next three years.
Ingram Micro
- Employees to be Laid off: 850
- Industry: IT Services & Outsourcing
- Date: December 2024
Ingram Micro, an IT distribution company, will lay off 850 employees by the end of Q1 2025. The restructuring includes merging digital and IT teams, eliminating redundancies, and shifting to a more efficient exception-based model for shared services.
Airbus
- Employees to be Laid off: 500
- Industry: Aviation
- Date: December 2024
Airbus will reduce its UK workforce by 477 positions as it scales back its space business and focuses on cost-cutting measures. The company plans to eliminate over 2,000 jobs globally by mid-2026. These cuts come amid profit declines despite increased sales and supply chain challenges.
Lion Electric
- Employees to be Laid off: 500
- Industry: Manufacturing
- Date: December 2024
Lion Electric, an electric bus manufacturer, is temporarily laying off 400 workers and halting production at its Illinois plant. The company is focusing on its remaining 300 employees for bus manufacturing, sales, and delivery, while managing a loan extension and credit agreement.
ThyssenKrupp Steel Europe
- Employees to be Laid off: 11,000
- Industry: Metal & Mining
- Date: November 2024
ThyssenKrupp Steel Europe plans to cut 40% of its workforce over the next few years due to challenges from lower-cost Asian competitors, high energy prices, and a weakening global economy. The company has faced losses in recent years, with workers vowing to resist the cuts.
Recent Layoffs Across Multiple Industries
In recent months, companies from various sectors have been forced to scale back their workforce in response to economic pressure. Tech giants, retailers, and manufacturers are among the hardest hit, with many announcing mass layoffs as part of restructuring efforts to maintain profitability.
Some of the most notable companies that have implemented layoffs include:
- Amazon: In a bid to optimize operations, Amazon announced that it would lay off over 18,000 workers, primarily affecting corporate roles and operations in its global supply chain.
- Meta (Facebook): Meta followed up its previous rounds of layoffs with another major workforce reduction, cutting 10,000 jobs as part of an ongoing effort to reduce costs amid slowing advertising revenue.
- Google (Alphabet): Google laid off around 12,000 employees to curb its soaring expenses. The company cited the need to streamline operations following a period of over-expansion during the pandemic.
- Twitter: Since Elon Musk’s acquisition, Twitter has significantly reduced its headcount, with 75% of its workforce laid off, citing a need to rein in spending and prioritize profitability.
Hiring Freezes: Why Are Companies Pausing Recruitment?
While layoffs garner most of the headlines, hiring freezes are also becoming increasingly common. These freezes are often a response to uncertain market conditions, where businesses are hesitant to make long-term commitments due to unpredictability.
- Meta has paused most of its hiring efforts, signaling the company’s intent to focus on increasing productivity and reducing unnecessary overhead costs.
- Microsoft: Microsoft also imposed a hiring freeze across several divisions as it navigates slower-than-expected growth in key markets, particularly cloud services and gaming.
- Tesla : Tesla, below E
Which Industries Are Most Affected by Layoffs and Freezes?
Several industries are feeling the brunt of this trend, including:
- Technology: As mentioned, the tech industry has been a primary source of layoffs. Rising competition, the decline in digital ad spending, and global supply chain issues have forced many tech firms to reduce staff.
- Retail: The retail sector, particularly in e-commerce, has seen massive cuts as consumer behavior shifts and online shopping growth slows post-pandemic. Companies like Best Buy and Target have announced freezes or staff reductions.
- Finance : Many finances
- Manufacturing: Increased costs for raw materials and supply chain disruptions have forced manufacturing giants to slow hiring and lay off workers in order to stay afloat.
The Impact on Employees and the Workforce
For employees, these layoffs and hiring freezes can be unsettling. Companies are prioritizing efficiency over expansion, which means less job security for workers across various sectors. For those affected by layoffs, transitioning to new roles may require upskilling, as businesses increasingly demand more specialized and adaptable talents.
Additionally, hiring freezes create a challenging job market for job seekers, as companies that typically provide entry-level and mid-level positions hold off on recruitment. Many job seekers now face longer wait times, as the competition intensifies, and only the most qualified candidates are being selected.
What Are Companies Doing to Mitigate the Impact?
In response to the negative impacts on employee morale and public perception, many companies are introducing severance packages, offering retraining programs, or providing outplacement support to affected workers. For example, Amazon and Meta have offered generous severance packages, including extended health benefits, to help smooth the transition for laid-off employees.
Conclusion
The wave of layoffs and hiring freezes highlights a shift in how companies are approaching the workforce in 2025. While many are adjusting to economic realities, these decisions are reshaping the job market, especially in high-demand sectors like tech, finance, and retail.
For job seekers, it’s essential to stay adaptable and continuously improve skills to remain competitive in an evolving market. For companies, transparent communication and responsible workforce management will be crucial in maintaining morale and productivity during these challenging times.
FAQs
1. What companies have announced major layoffs recently?
Amazon, Meta, Google, and Twitter are some of the companies that have announced large-scale layoffs.
2. Why are hiring freezes happening?
With
3. Which industries are most affected by layoffs?
The tech, retail, finance, and manufacturing industries are experiencing the most layoffs and hiring freezes.
4. How do layoffs affect the workforce?
Layoffs create job insecurity and require affected employees to find new roles or develop new skills.
5. Are there any benefits for laid-off employees?
Some with
6. How can job seekers navigate the current job market?
Job seekers should focus on upskilling and staying competitive in the job market by seeking roles with growing demand.