1 / 7Procter & Gamble (P&G) revealed on June 5 its strategy to eliminate 7,000 positions over the next two years as part of its initiative to enhance organisational agility. The specifics regarding the affected regions or divisions remain unclear, although the company anticipates incurring over $1 billion in pre-tax restructuring costs throughout FY25 and FY26 to cover severance, transition, and system alterations.
2 / 7Citigroup, also on June 5, announced plans to eliminate approximately 3,500 technology positions in China as part of its cost-reduction plan. Earlier in January, the US bank had stated intentions to cut 10% of its global workforce, impacting about 20,000 employees.
3 / 7Walmart plans to eliminate around 15,000 jobs across its global operations, affecting its tech sectors, e-commerce fulfillment in US stores, and the advertising unit Walmart Connect, as reported by Reuters on May 21.
4 / 7Walt Disney plans to lay off several hundred staff members from its film, television, and corporate finance departments, as reported by Reuters on June 2. This marks the fourth wave of layoffs within just ten months.
5 / 7IBM is set to let go of around 8,000 employees, mostly from its Human Resources (HR) division, as it integrates artificial intelligence (AI) into its operations and back-office activities. The company previously substituted about 200 HR positions with AI tools to manage repetitive administrative tasks.
6 / 7Microsoft, on May 16, declared its second-largest reduction in workforce, intending to eliminate 6,000 positions—about 3% of its total workforce—across all departments. This decision aims to streamline the organisational structure and reduce management levels.
7 / 7CrowdStrike, a cybersecurity company, announced it will lay off around 500 employees, which accounts for roughly 5% of its workforce, in order to streamline operations and cut costs. The layoffs are estimated to cost the firm between $36 million and $53 million.
