Overview

• Nearly 700,000 job cuts have been announced by June 2025, marking an 80% increase over the same period last year.
• Tech firms shed over 62,000 positions in the first five months of 2025, with Microsoft trimming about 6,000 roles and Google cutting hundreds across its business, Pixel, Android and Chrome divisions.
• Procter & Gamble announced plans to eliminate 7,000 white-collar positions over two years as it exits underperforming categories and streamlines its corporate structure.
• Major retailers, healthcare providers and financial institutions including Walmart, Disney and Morgan Stanley have also initiated significant workforce reductions this year.
• Companies cite high interest rates, inflationary pressures and accelerated AI adoption as the primary drivers behind broad restructuring and headcount cuts.