More than 40 companies laying off staff this year include Meta, Amazon, Visa and Walmart—see the list

Cuts across many industries

A World Economic Forum survey conducted last year found that about 41% of companies worldwide expected to reduce their workforces over the next five years because of artificial intelligence. The same survey projected that jobs in big data, fintech and AI would double by 2030.

Retail and technology reductions

Amazon announced in January that it would eliminate about 16,000 corporate jobs worldwide. The decision followed 14,000 job cuts in October 2025. A spokesperson said the company had decided to remove a small number of positions in its Selling Partner Services team after a review.

Atlassian said on March 11 that it planned to cut about 10% of its workforce while investing in AI. Co-founder Mike Cannon-Brookes said the company believes people and AI work best together, while acknowledging that AI changes the skills mix and the number of roles needed in some areas.

Financial and consumer employers

Barclays disclosed plans to reduce its workforce by about 5%. Cross said 60% of affected employees were in support functions, including developer roles, as AI increases productivity. CEO C.S. Venkatakrishnan described the move as part of a push for greater cost efficiency through technological change.

Citi plans further cuts this year as part of a target to reduce its workforce by 10%, or 20,000 employees. A spokesperson said the changes are intended to align staffing, locations and expertise with current business needs. British American Tobacco plans to eliminate 9,000 jobs by year-end, about one-fifth of its workforce; the cuts will not affect its US business.

Other announced workforce changes

Cloudflare said on May 7 that it planned to cut roughly 20% of its global workforce, affecting more than 1,100 employees. Its executives said the decision was not a judgment on departing workers, but reflected a redesign of internal processes, teams and roles.

Coinbase CEO Brian Armstrong said in a May 5 letter to staff that 14% of employees would be cut, largely because of AI. Crypto.com CEO Kris Marszalek announced in March that the company had laid off 12% of its workforce. Dell said in its annual SEC filing that it had reduced its workforce by 10% for the third consecutive year.

Angi said in January that it was cutting about 350 jobs to lower operating expenses and reorganize for long-term growth, citing AI-driven efficiencies. Separately, Target is moving resources from its supply chain into stores under its new CEO’s turnaround strategy, aimed at improving the shopping experience and returning to growth.