- Last year’s job cuts weren’t the end of layoffs. Further reductions are in the cards for 2024.
- Companies like Amazon, BlackRock, Nike, Intel, and Citigroup have announced plans for cuts this year.
- See the full list of corporations reducing their worker numbers in 2024.
A slew of companies across the tech, media, finance, and retail industries made significant cuts to staff in 2023. Major tech players like Google and Meta, finance giants like Goldman Sachs, and manufacturers like Dow all announced layoffs.
And the forecast for 2024 is already looking grim.
Thirty-eight percent of business leaders surveyed by ResumeBuilder think layoffs are likely at their companies in 2024, and around half say their companies will implement a hiring freeze. ResumeBuilder talked to around 900 leaders at organizations with more than 10 employees.
Half of those surveyed cited concerns about a recession as a reason.
Another major reason: artificial intelligence. Around four in 10 respondents said they’ll have to conduct layoffs as they replace workers with AI. Major tech companies like Dropbox, Google, and IBM have already announced job cuts as part of a new focus on AI.
Here are the companies with job cuts either planned or already underway in 2024.
Google laid off hundreds of workers in its central engineering division and members of its hardware teams — including those working on its voice-activated assistant.
In an email to some affected employees, the company encouraged them to consider applying for open positions at Google if they want to remain employed.
For those unable to secure a new position, their last day will be April 9, according to the email.
The tech giant laid off thousands throughout 2023, beginning with a 6% reduction of it global workforce (about 12,000 people) last January.
Discord employees learned about the layoffs in an all-hands meeting and a memo sent by CEO Jason Citron.
“We grew quickly and expanded our workforce even faster, increasing by 5x since 2020,” Citron said in the memo. “As a result, we took on more projects and became less efficient in how we operated.”
In August, Discord reduced its headcount by 4%. The company was valued at $15 billion in 2021, according to CNBC.
US logistics startup Flexport will be cutting 20% of its estimated 2,600 employees over the next few weeks, The Information reportedreported.
With founder and CEO Ryan Petersen back at the helm since September, Flexport initiated a 20% reduction in October.
Flexport kicked off 2024 with the announcement that it raised $260 million from Shopify and made “massive progress toward returning Flexport to profitability.”