US firms slash jobs across sectors amid economic uncertainty

In a broad effort to streamline operations and reduce costs, a growing number of U.S. companies across various industries have announced significant layoffs.

The job cuts come amid an environment of economic uncertainty and follow similar measures taken last year as businesses brace for a slower market.

According to data from the Labor Department’s Job Openings and Labor Turnover Survey (JOLTS) for early February, overall job vacancies fell by 1.3 million compared with the previous year’s end, although they still remain above the 2019 average. This suggests a gradual cooling of the labor market rather than a precipitous decline.

Among the companies making announcements in 2025 are major players in consumer and retail, aviation, energy, technology, healthcare, and finance. For example:

Consumer and retail:

Starbucks plans to cut 1,100 jobs (0.52% of its workforce)
Brown-Forman will reduce 648 positions (12% of its staff)
Kohl’s announced 9,600 layoffs (10% of its workforce)
Estee Lauder will eliminate 7,000 jobs (11.29% of its workforce)
Amazon has reduced 1,700 full-time roles
Walmart and Wayfair have also reported job cuts in select regions.

Aviation and space:

Southwest Airlines is set to shed 1,750 positions, affecting 15% of its corporate roles
Blue Origin plans to cut 1,400 jobs (10% of its workforce).

Energy and natural resources:

Chevron is trimming 8,000 jobs (20% of its workforce)
Other energy firms, including Halliburton, Lyondell Basell, SolarEdge Technologies, Archer-Daniels-Midland, and Dow, are also reducing headcount by varying percentages.

Technology and media:

Meta Platforms is letting go of 5% of its lowest performers
Microchip Technology will cut 2,000 jobs, representing 9% of its staff.

Healthcare and pharma:

UnitedHealth is offering buyouts in its benefits operations unit and may pursue further layoffs if its resignation targets are not met
Bio Rad is cutting 5% of its workforce.

Banking and finance:

Morgan Stanley is planning to lay off about 2,000 employees (2% to 3% of its workforce) as part of its cost-reduction drive.

These job cuts are part of a wider trend among U.S. businesses as they adjust to a challenging economic landscape characterized by uncertainty over trade policies, shifting market dynamics, and cautious consumer sentiment. Many companies have cited the need to improve operational efficiency and align costs with a more subdued outlook for capital markets.

As industry observers note, these layoffs reflect the difficult balancing act that companies face in maintaining competitiveness while adapting to an environment where revenue growth may be slowing and future economic conditions remain uncertain.

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