The new year brought bleak news for job seekers. Announced job cuts in the U.S. Surged in January, reaching over 82,000. It’s a 136% increase from December. This also marks the highest monthly total since march 2023. Watch to know more!

US job cuts surge, financial & technology sectors lead the charge

Logistics giant UPS said Tuesday it would cut about 12,000 jobs worldwide, shortly after reporting quarterly revenues that disappointed analysts. In a conference call, CEO Carol Tome said the company was seeking to "align" its resources with UPS' priorities, adding that the cuts would save it around $1 billion in costs this year.

Logistics giant UPS says it will cut 12,000 jobs, closes challenging year

Macy's, the US department store chain, has revealed plans to cut 2,350 jobs and shut five stores, constituting 3.5 per cent of its total workforce. The company, which operated 722 stores as of January 2023, employs around 94,570 full- and part-time staff, excluding seasonal hires.

Macy's Initiates Streamlining Effort: 2,350 Job cuts & 5 store closures disclosed

Global e-commerce giant Amazon has revealed plans to cut jobs in its Buy with Prime unit, marking a 5 per cent reduction in the service's workforce. While the exact number of affected employees remains undisclosed, it's estimated that around 30 individuals have been impacted by this decision, according to sources cited by Reuters.

Amazon's workforce reduction in 'Buy with Prime' unit reflects shifting priorities

Citigroup inc. said it expects to incur as much as $1 billion in severance and reorganization costs this year as it continues the process of eliminating 20,000 roles as part of Chief Executive Officer Jane Fraser’s quest to boost the Wall Street giant’s lagging returns.

Job cuts at Citibank: 20,000 roles to be axed by Wall Street giant

Google has decided to streamline its workforce, announcing layoffs across its Voice Assistant, hardware, and engineering teams on Wednesday, in a bid to optimise operations and prioritise key areas.

Google axes jobs in assistant, hardware, and engineering teams

Amazon's popular live streaming platform, Twitch, is reportedly gearing up for a significant workforce reduction, planning to cut approximately 35 per cent of its staff, translating to around 500 employees.

Twitch, Amazon's live streaming platform, to trim workforce by 35pc with 500 job cuts

BlackRock, the world's preeminent asset manager, declared plans on Tuesday to cut approximately 3 per cent of its existing workforce, Reuters reported. With a workforce of 19,800 as of December 2022, these cuts are expected to total roughly 600 positions.

BlackRock to cut 600 jobs amid market challenges

E-commerce giant Flipkart is gearing up for a significant restructuring initiative as part of its strategy to streamline resources and sustain profitability, as reported by Times of India.

Flipkart plans performance-based layoffs, anticipating 5-7% workforce reduction in March, claims report

Barclays is reportedly contemplating a sweeping overhaul that could yield savings of up to £1 billion ($1.25 billion) to enhance profitability. According to Reuters, this initiative may involve shedding as many as 2,000 jobs, primarily in the bank's back office.

Barclays unveils $1.25 billion restructuring plan, contemplates 2,000 job cuts

Continental AG, one of Europe's prominent auto-parts manufacturers, is considering a significant restructuring move that could result in the elimination of 5,500 jobs, equivalent to 3 per cent of its global workforce.

Continental AG mulls major overhaul: Contemplating 5,500 job cuts in restructuring move

Citigroup is reportedly contemplating substantial job reductions of at least 10 per cent in several of its major business segments as part of a comprehensive reorganisation effort led by CEO Jane Fraser, a CNBC report said citing sources.

Citigroup considers significant job cuts in major restructuring: Report 

In a move to counteract a noticeable decline in revenue growth, LinkedIn has announced a significant workforce reduction the social media Network for professionals owned by Microsoft will cut 668 employees across its engineering talent and finance teams. This marks the second round of job cuts this year for the company affecting more than 3% of its 20,000-strong staff.

LinkedIn announces more layoffs amid slowing revenue growth

Microsoft-owned LinkedIn on Monday (Oct 16) said that it is eliminating more than 650 employees in second round off layoffs, joining the list of other US tech firms that have reduced their workforce as demand for hiring plummets.

LinkedIn lays off more than 650 employees in another round over bleak outlook

As Silicon Valley continues its cost-cutting measures, Google revealed it will let go of hundreds of employees who assisted in hiring and recruiting new personnel, according to a report by CNN.

Google laid off hundreds of recruiters in another round of job cuts

Following a failed revival plan for the business, hardware store Wilko will no longer be seen on the UK high streets. According to the GMB union, all 400 of its outlets will closed by the beginning of October, implying that all 12,500 employees at the family-run company face the possibility of layoffs.

UK retailer Wilko to shut all stores, putting 12,500 jobs at risk: Report

Months after completing its acquisition of competitor Credit Suisse, UBS Group AG is laying off hundreds of employees in Asia as a response to weak customer demand and China’s faltering economy, according to a report by The Economic Times.

UBS cuts jobs in Asia amid slowing activity

The slowdown in the global economy has hit the world of finance. Deals have dried up, leading to a sharp drop in revenues. This has led to several firms announcing layoffs. The latest to join the bandwagon is the Bank of Montreal, whose capital markets unit is cutting about 100 positions or 3.5% of the division’s staff.

Canada's BMO capital markets announces layoffs

Ford Motor has announced plans to carry out layoffs this week, primarily affecting engineering jobs in the United States and Canada. The job cuts are part of Ford's cost-cutting measures as the company undergoes a restructuring of its business operations.

Ford announces job cuts; layoff to affect engineering jobs in United States and Canada

UBS Group is preparing to reduce more than half of the Credit Suisse Group's workforce following the emergency takeover of the bank. The impact of these job cuts is expected to be felt primarily by bankers, traders, and support staff in Credit Suisse's investment bank located in London, New York, and certain parts of Asia.

UBS plans to sack 'more than half' or 35,000 Credit Suisse staff: Report

Grab, the prominent ride-hailing and food delivery app, is taking a significant step by cutting 1,000 jobs, which amounts to approximately 11 per cent of its workforce, as reported by the BBC.

Grab's cutback blitz: 1,000 jobs slashed for long-term affordability

In response to a stagnant deals market, Goldman Sachs, one of the world's leading investment banks, is set to initiate a fresh round of job cuts. The decision comes as the institution grapples with the ongoing challenges faced by the financial industry.

Goldman Sachs to shed jobs amid economic uncertainties

After reports of ford, Stellantis and other automakers cutting jobs worldwide, British engine maker Rolls Royce has dismissed reports of a job cut at its company. the rebuttal has come after a Sunday times report said that the company would cut 3,000 jobs.

Rolls Royce denies reports of job cuts

First Citizens, the new owner of now-collapsed Silicon Valley Bank's (SVB) US operations, has said that it plans to cut 500 roles previously held by SVB employees, reported BBC.

Silicon Valley Bank to cut 500 jobs, says new owner: Report

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