All articles tagged with #job cuts
Citigroup CEO Jane Fraser warns that Citi’s culture needs a reset and signals more layoffs this year as automation and process simplification reshape how work gets done, with regulatory-fix programs largely complete and a push toward higher profitability in 2026.
Meta Platforms is cutting more than 1,000 jobs from its Reality Labs division to redirect resources from metaverse/VR toward AI wearables and smartphone features, with Horizon refocused on mobile, ongoing VR investments pared back, and several in-house VR studios slated to close.
General Motors is planning to lay off over 1,300 employees starting January 5, including many at the Ultium Cells battery plant in Lordstown, due to production adjustments following slower EV sales, with some layoffs being temporary while the company upgrades the facility.
European banks are planning to cut over 200,000 jobs by 2030 as they adopt AI and close physical branches, mainly affecting back-office roles, with similar trends seen in the US, aiming for increased efficiency but raising concerns about industry fundamentals.
Post Consumer Brands is permanently shutting down production of certain cereal products at its Battle Creek plant, resulting in approximately 71 layoffs starting January 2026, affecting jobs related to Grape Nuts, granola, and bran production.
UPS plans to lay off nearly 130 employees at its Montgomery facility in Alabama as part of its largest network reconfiguration, with cuts starting in February and efforts to reassign affected workers.
US unemployment claims decreased to 214,000 last week, indicating a still healthy labor market despite signs of weakening, with recent job cuts and revisions suggesting a potential slowdown in job creation.
Omnicom's CEO John Wren discusses the company's $9 billion acquisition of IPG, emphasizing how the merger enhances scale and agility, and highlights their AI-driven strategy to improve efficiency and client outcomes, despite industry challenges and job cuts.
The article discusses how companies are increasingly integrating AI into their operations, often accompanied by significant layoffs, highlighting the economic and employment shifts driven by AI adoption.
Omnicom is planning to eliminate its historic advertising agencies and cut 4,000 jobs as part of its takeover by IPG, signaling significant restructuring in the advertising industry.
Paramount Skydance plans to cut 1,600 jobs and save at least $3 billion, investing the savings into streaming, UFC, and film production, amid restructuring and a focus on growth under new CEO David Ellison, who is also pursuing a potential acquisition of Warner Bros.
A leading investment bank warns that the U.S. labor market is weakening significantly, with rising layoffs, declining hiring, and falling consumer confidence, indicating potential recession risks and challenging the notion of a resilient job market. The situation is compounded by reduced holiday hiring and mixed signals from the Federal Reserve about interest rate policies.
In October 2025, US layoffs reached a 22-year high with over 153,000 planned job cuts, driven by AI adoption, economic slowdown, and rising costs, especially impacting tech, retail, and warehousing sectors. Despite some optimistic statements from officials, the job market remains shaky with over 1.1 million layoffs so far this year, and prospects for late-year hiring are bleak.
A private report revealed October saw the highest layoffs since 2008, contributing to a stock selloff and bond rally amid limited official economic data due to the U.S. government shutdown, raising concerns about the labor market's health and its impact on the stock market.
Wall Street declined as October saw a surge in job cuts, reaching a 22-year high, while bond yields fell sharply. Investors await the Supreme Court's decision on Trump tariffs, and tech stocks experienced a significant pullback after a strong run, amid concerns over an AI bubble and economic uncertainties.