Overview
- Amazon will eliminate about 14,000 corporate roles, according to an internal memo reported in the coverage.
- Target confirmed a reduction of 1,800 corporate positions, including 1,000 immediate layoffs and 800 roles left unfilled, with stores and the supply chain unaffected.
- Verizon plans to cut more than 13,000 employees, roughly 20% of its non‑union workforce, and has set aside about $20 million for retraining and placement programs.
- ConocoPhillips projects a 20%–25% workforce reduction in 2025, as BP, Chevron and SLB also outline plans for thousands of job cuts.
- Companies reported more than 150,000 jobs were eliminated in October, and the U.S. unemployment rate has risen to 4.4%, the highest in nearly four years.