US companies, from tech majors to consumer firms, are bracing for a potential economic downturn by shrinking their employee base to streamline operations.
Job cuts announced by the US-based employers jumped 13 per cent to 33,843 in October, the highest since February 2021, according to a report.
Here are some of the major job cuts announced in recent weeks:
Amazon.com Inc
The e-commerce giant has laid off some employees in its devices group as a person familiar with the company said it still targeted around 10,000 job cuts, including in its retail division and human resources.
Meta Platforms Inc
The Facebook-parent said it would cut 13 per cent of its workforce, or more than 11,000 employees, in one of the biggest tech layoffs this year as it grapples with a weak advertising market and mounting costs.
DoorDash Inc
The food delivery firm, which enjoyed a growth surge during the pandemic, said it was reducing its corporate headcount by about 1,250 employees.
AMC Networks Inc
The cable TV network said it would cut about 20 per cent of its US workforce, as it announced Chief Executive Officer Christina Spade had stepped down, less than three months into the role.
Kraken
The cryptocurrency exchange said it would cut its global workforce by 30 per cent, or about 1,100 employees, citing tough market conditions that have crippled demand for digital assets this year.
Citigroup Inc
The bank eliminated dozens of jobs across its investment banking division, as a dealmaking slump continues to weigh on Wall Street's biggest banks, Bloomberg News reported.
Morgan Stanley
The Wall Street powerhouse is expected to start a fresh round of layoffs globally in the coming weeks, Reuters reported on Nov. 3, as dealmaking business takes a hit.
Intel Corp
Chief Executive Officer Pat Gelsinger told Reuters "people actions" would be part of a cost-reduction plan. The chipmaker said it would reduce costs by $3 billion in 2023.
The adjustments would start in the fourth quarter, Gelsinger said, but did not specify how many employees would be affected.
Microsoft Corp
The software giant laid off under 1,000 employees across several divisions in October, Axios reported, citing a source.
Johnson & Johnson:
The pharmaceutical giant has said it might cut some jobs amid inflationary pressure and a strong dollar, with CFO Joseph Wolk saying the healthcare conglomerate is looking at "right sizing" itself.
Twitter Inc
The social media company laid off half its workforce across teams ranging from communications and content curation to product and engineering following Elon Musk's $44 billion takeover.
However, Bloomberg later reported Twitter was reaching out to dozens of employees who lost their jobs, asking them to return.
Lyft Inc
The ride-hailing firm said it would lay off 13 per cent of its workforce, or about 683 employees, after it already cut 60 jobs earlier this year and froze hiring in September.
Warner Bros Discovery
Film subsidiary Warner Bros. Pictures is planning to cut a number of jobs in distribution and marketing that will reduce headcount by 5 per cent to 10 per cent, Bloomberg News reported.
Beyond Meat Inc
The vegan meat maker said it plans to cut 200 jobs this year, with the layoffs expected to save about $39 million.
Stripe Inc
The digital payments firm is cutting its headcount by about 14 per cent and will have about 7,000 employees after the layoffs, according to an email to employees from the company's founders.
Chime Financial Inc
The online banking firm has laid off 12 per cent of its employees, or about 160 jobs, a spokesperson said.
Opendoor Technologies Inc
The property-selling platform is laying off about 550 employees, Chief Executive Officer Eric Wu said, adding that the company had already reduced its workforce by more than 830 positions.
Phillips 66
The refiner reduced employee headcount by over 1,100 as it seeks to meet its 2022 cost savings target of $500 million. The reductions were communicated to employees in late October.
Chesapeake Energy Corp
The U.S. shale gas producer cut about 3 per cent of its workforce, sources told Reuters, as the company readies a sale of South Texas oil properties.
Seagate Technology Holdings Plc
The memory chip firm announced a restructuring plan including reducing worldwide headcount by about 8 per cent, or 3,000 employees.
Arrival SA
The EV startup said it plans to further "right-size" the organization, which could have a "sizable impact" on its global workforce, mostly in the UK.
The company in July said it may cut up to 30 per cent of workforce in restructuring.
Coinbase Global
The cryptocurrency exchange said it planned to cut over 60 jobs, in its recruiting and institutional onboarding teams.
The move marks a second round of jobs cuts at the company this year, and comes at a time when cryptocurrencies have been roiled by extreme volatility as investors dump risky assets.
Walt Disney Co
The media giant is planning to freeze hiring and cut some jobs, according to a company memo seen by Reuters.
Roku Inc
The video-streaming device maker said it would reduce its headcount by 5 per cent, or about 200 employees, due to "current economic conditions".
Cisco Systems Inc
The networking and collaboration solutions company said it will undertake restructuring which could impact roughly 5 per cent of its workforce. The effort will begin in the second quarter of the fiscal year 2023 and cost the company $600 million.
HP Inc
The computing devices maker said it expected to cut up to 6,000 jobs by the end of fiscal 2025.
CNN
Warner Bros Discovery-owned CNN's top boss Chris Licht informed employees in an all-staff memo that job cuts were underway.
Buzzfeed Inc
The online media company said it will cut about 12 per cent of its workforce. As of Dec. 31 last year, the company had 1,522 employees in six countries.
Blue Apron Holdings Inc
The online meal-kit company said it will cut about 10 per cent of its corporate workforce, as it looks to reduce costs and streamline operations. The company had about 1,657 full-time employees, as of Sept. 30.
Wolverine World Wide Inc
The casual footwear and apparel retailer said it had initiated a workforce reduction earlier this week and expects this initiative to result in about $30 million in savings in 2023.