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Economic Times
14 hours ago
- Business
- Economic Times
Morgan Stanley, Walmart, Pfizer and more: Full list of over 150 American companies laying off employees in June
Which American companies will face layoffs in June? Live Events Why are layoffs happening in US? (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel In the first quarter of 2025, the US workforce experienced significant upheaval due to widespread federal layoffs, corporate restructuring, cost-cutting initiatives, and mounting financial pressures across industries. Federal agencies were responsible for more than half of all job cuts during the quarter, with over 150,000 layoffs reported in February and March ahead to June, thousands more employees across various sectors are expected to lose their jobs, reports NewsWeek. Under the Worker Adjustment and Retraining Notification (WARN) Act, companies must notify employees in advance of mass layoffs. According to approximately 138 employers have filed WARN notices indicating plans to implement layoffs next to NewsWeek, nearly 160 companies will be laying off employees throughout the month of June, exceeding the approximately 130 companies that did so in May. President Donald Trump announced on May 25 that he would postpone the implementation of the planned 50 percent tariffs on trade with the European Union, moving the start date from June 1 to July 9, in response to a request from European Commission President Ursula von der are set to impact a range of industries, including retail, pharmaceuticals, food and beverage, airlines, and package delivery, among others. The number of affected workers varies by company—some are reducing staff by as few as one to 25 employees, while others, such as U.S. Cellular, are planning more significant complete list of layoffs, based on WARN notices compiled by includes:Newark GroupAir Wisconsin AirlinesAmerican Institutes of ResearchLeidos HoldingsCali Nail MarketWells FargoChevron TexacoSaddle Creek Logistics ServicesWhirlpool CorporationInterstate Management Company LLCS3 Shared Service SolutionOTG Management (Terminal 5)SDS LumberUnited States Cellular CorporationConfluent Medical TechnologiesUSCC Management ServicesPfizerFedExFEAM AeroWashington Prime GroupVail CorporationMount McKinleyArdent MillsImmPact Bio USA Inc., a subsidiary of Lyell ImmunopharmaPiedmont Athens Regional Medical CenterNEP GroupTrue Food KitchenBenchmark Precision TechnologiesINOAC Exterior SystemsASRC Federal Professional ServicesThrifty Payless (Rite Aid)The Bartell Drug Company (Rite Aid)Rite Aid CorporationSaks GlobalActivCare LivingMetalco USAInternational Republican InstituteTechnoprobe AmericaBlue Cross of IdahoOxbo International CorporationPrimo BrandsChik-fil-AUS ArconicGoodwill of the San Francisco BayCVS Health CorporationPacific Biosciences of CaliforniaRight At SchoolMcDonald's Restaurant of CaliforniaLegoland California ResortUPSFirst StudentCYH Manhattan (The Stewart Hotel)Winnebago IndustriesKinkisharyo InternationalTEKsystemsGraphic SolutionsCorsicana Mattress CompanyPixelle Specialty SolutionsWalmartJones Lang LaSalleVirtex EnterprisesQuickway TransportationCase Paper ExpressMental Health Association of New York City (Vibrant Emotional Health)MemorialCare Long Beach Medical Center and Women's Hospital Long BeachIlluminaBronco Wine Company, Bivio Transport and Logistics CompanyBarrel Ten Quarter CircleINOAC Exterior SystemsGMRI (Eddie V's)Morgan Stanley23andMeSSP AmericaMV TransportationChevron USAAramarkTC&Js Enterprises, franchise operator of Chick-fil-ALacroixDRVCruiser RVHeartland Recreational VehiclesRTXBattelleFresenius Medical CareMetropolitan Animal Specialty HospitalCayuga Home for Children (Cayuga Centers)Interstate Hotels (The Roosevelt Hotel)Cherokee Nation Management & ConsultingPlug PowerAMT Medical (Velocity medtech)Amerant MortgageYMCA of San DiegoB&P Plastics (Advance Plastic)JP Morgan ChaseRaytheon TechnologiesHy-Vee Fresh CommissaryHy-Vee Chariton Shortcuts FacilityPortland FacilityTennecoLutheran Services in IowaFeller'sCJ Logistics AmericaCentene Management CompanyThe Model Z ModularAdientNovartis PharmaceuticalsAccelerate360 DistributionThermo FisherCardinalNetAppKaiser PermanenteArvinasVan's Corporate HeadquartersEnterprise for Progress in the Community (EPIC)Child Care AssociatesSodexoOracle AmericaThe GEO GroupDowntown College PreparatoryFederal Express Corporation (BTRA Facility)Smurfikt Westrock Facility (Texas)Urban AlchemytkMomentumFord, Walker, Haggerty & Behar, LLPSt. Vincent's School for BoysCommunity Action MarinNGM BiopharmaceuticalsPride IndustriesElijah House FoundationCenter PointAramark Campus, LLC at the University of RochesterNorthern Air CargoForte Openings SolutionsChiloquin FacilitySky ZoneERMC Aviation ServicesLeidos HoldingsDanaPULAU CorporationT. MarzettiCano HealthCenter for Family & Child EnrichmentBuilding RoboticsSSC Services for Education (Muncie Community Schools)Tampa SportserviceTransitAmerica ServicesLignetics (Cascade Locks Facility)The Coca-Cola CompanyCoStar Realty InformationNavajo Incorporated, Portland FacilityBrinksBunzl Distribution USAASM GlobalDurhan School Services-Wichita FallsBroadway ServicesBH Security (Brinks Home)Orchid Orthopedic SolutionsAmerican workers and businesses have faced economic uncertainty, partly due to the widespread impact of tariffs imposed on nearly every other country, as well as on specific sectors like steel, aluminum, and foreign may not always reflect the overall economic climate. Some companies reduce their workforce to boost profits, while others restructure to better meet consumer Hohman, director of fiscal policy at the Mackinac Center for Public Policy, told Newsweek:'In today's America, pharmacists earn about twice as much as machinists. There are also twice as many drivers as metal workers, and driving typically offers higher pay. Overall, service industry jobs now outpace manufacturing in terms of compensation.'The country as a whole has become wealthier. While the rich have certainly grown richer, lower-income Americans have also seen gains. More households today are earning higher incomes compared to a generation ago—and globalization has played a role in that progress.'Bryan Driscoll, an HR consultant, previously told Newsweek: 'Workers should be cautious—not because they're failing to perform, but because many employers remain focused on short-term financial appearances. We're seeing health insurers and government agencies cut jobs under the guise of restructuring or realignment, which often just means reducing headcount to reduce costs.'Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, also weighed in, telling Newsweek:'There are really two kinds of layoffs happening. On one hand, federal agencies like the Department of Health and Human Services are undergoing significant restructuring as a result of new leadership. This means some roles may be eliminated or merged with others to meet efficiency goals.'"At the same time, we're also seeing health insurers scaling back their workforces. Rising medical expenses paired with those who are insured utilizing their coverage more frequently have some insurers cutting jobs to free up cash in the face of lower revenues."
Time of India
15 hours ago
- Business
- Time of India
Morgan Stanley, Walmart, Pfizer and more: Full list of over 150 American companies laying off employees in June
In the first quarter of 2025, the US workforce experienced significant upheaval due to widespread federal layoffs, corporate restructuring, cost-cutting initiatives, and mounting financial pressures across industries. Federal agencies were responsible for more than half of all job cuts during the quarter, with over 150,000 layoffs reported in February and March alone. Looking ahead to June, thousands more employees across various sectors are expected to lose their jobs, reports NewsWeek. Under the Worker Adjustment and Retraining Notification (WARN) Act, companies must notify employees in advance of mass layoffs. According to approximately 138 employers have filed WARN notices indicating plans to implement layoffs next month. ALSO READ: Stefon Diggs and Cardi B are now Instagram official. Know the NFL player's controversies, net worth and more by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Women Over 40 Are Trying This Instead—And Loving What They See wellnesstodayonline Try Now Undo Which American companies will face layoffs in June? According to NewsWeek, nearly 160 companies will be laying off employees throughout the month of June, exceeding the approximately 130 companies that did so in May. President Donald Trump announced on May 25 that he would postpone the implementation of the planned 50 percent tariffs on trade with the European Union, moving the start date from June 1 to July 9, in response to a request from European Commission President Ursula von der Leyen. Layoffs are set to impact a range of industries, including retail, pharmaceuticals, food and beverage, airlines, and package delivery, among others. The number of affected workers varies by company—some are reducing staff by as few as one to 25 employees, while others, such as U.S. Cellular, are planning more significant cuts. Live Events The complete list of layoffs, based on WARN notices compiled by includes: Newark Group Air Wisconsin Airlines American Institutes of Research Leidos Holdings Cali Nail Market Wells Fargo Chevron Texaco Saddle Creek Logistics Services Whirlpool Corporation Interstate Management Company LLC S3 Shared Service Solution OTG Management (Terminal 5) SDS Lumber United States Cellular Corporation Confluent Medical Technologies USCC Management Services Pfizer FedEx FEAM Aero Washington Prime Group Vail Corporation Mount McKinley Ardent Mills ImmPact Bio USA Inc., a subsidiary of Lyell Immunopharma Piedmont Athens Regional Medical Center NEP Group True Food Kitchen Benchmark Precision Technologies INOAC Exterior Systems ASRC Federal Professional Services Thrifty Payless (Rite Aid) The Bartell Drug Company (Rite Aid) Rite Aid Corporation Saks Global ActivCare Living Metalco USA International Republican Institute Technoprobe America Blue Cross of Idaho Oxbo International Corporation Primo Brands Chik-fil-A US Arconic Goodwill of the San Francisco Bay CVS Health Corporation Pacific Biosciences of California Right At School McDonald's Restaurant of California Legoland California Resort UPS First Student CYH Manhattan (The Stewart Hotel) Winnebago Industries Kinkisharyo International TEKsystems Graphic Solutions Corsicana Mattress Company Pixelle Specialty Solutions Walmart Jones Lang LaSalle Virtex Enterprises Quickway Transportation Case Paper Co. Davis Express Mental Health Association of New York City (Vibrant Emotional Health) MemorialCare Long Beach Medical Center and Women's Hospital Long Beach Illumina Bronco Wine Company, Bivio Transport and Logistics Company Barrel Ten Quarter Circle INOAC Exterior Systems GMRI (Eddie V's) Morgan Stanley 23andMe SSP America MV Transportation Chevron USA Aramark TC&Js Enterprises, franchise operator of Chick-fil-A Lacroix DRV Cruiser RV Heartland Recreational Vehicles RTX Battelle Fresenius Medical Care Metropolitan Animal Specialty Hospital Cayuga Home for Children (Cayuga Centers) Interstate Hotels (The Roosevelt Hotel) Cherokee Nation Management & Consulting Plug Power AMT Medical (Velocity medtech) Amerant Mortgage YMCA of San Diego B&P Plastics (Advance Plastic) JP Morgan Chase Raytheon Technologies Hy-Vee Fresh Commissary Hy-Vee Chariton Shortcuts Facility Portland Facility Tenneco Lutheran Services in Iowa Feller's CJ Logistics America Centene Management Company The Model Z Modular Adient Novartis Pharmaceuticals Accelerate360 Distribution Thermo Fisher Cardinal NetApp Kaiser Permanente Arvinas Van's Corporate Headquarters Enterprise for Progress in the Community (EPIC) Child Care Associates Sodexo Oracle America The GEO Group Downtown College Preparatory Federal Express Corporation (BTRA Facility) Smurfikt Westrock Facility (Texas) Urban Alchemy tkMomentum Ford, Walker, Haggerty & Behar, LLP St. Vincent's School for Boys Community Action Marin NGM Biopharmaceuticals Pride Industries Elijah House Foundation Center Point Aramark Campus, LLC at the University of Rochester Northern Air Cargo Forte Openings Solutions Chiloquin Facility Sky Zone ERMC Aviation Services Leidos Holdings Dana PULAU Corporation T. Marzetti Cano Health Center for Family & Child Enrichment Building Robotics SSC Services for Education (Muncie Community Schools) Tampa Sportservice TransitAmerica Services Lignetics (Cascade Locks Facility) The Coca-Cola Company CoStar Realty Information Navajo Incorporated, Portland Facility Brinks Bunzl Distribution USA ASM Global Durhan School Services-Wichita Falls Broadway Services BH Security (Brinks Home) Orchid Orthopedic Solutions ALSO READ: Cardi B makes Stefon Diggs romance official amid messy divorce from rapper Offset. Internet says 'she hasn't learnt...' Why are layoffs happening in US? American workers and businesses have faced economic uncertainty, partly due to the widespread impact of tariffs imposed on nearly every other country, as well as on specific sectors like steel, aluminum, and foreign automobiles. Layoffs may not always reflect the overall economic climate. Some companies reduce their workforce to boost profits, while others restructure to better meet consumer demand. James Hohman, director of fiscal policy at the Mackinac Center for Public Policy, told Newsweek: 'In today's America, pharmacists earn about twice as much as machinists. There are also twice as many drivers as metal workers, and driving typically offers higher pay. Overall, service industry jobs now outpace manufacturing in terms of compensation. 'The country as a whole has become wealthier. While the rich have certainly grown richer, lower-income Americans have also seen gains. More households today are earning higher incomes compared to a generation ago—and globalization has played a role in that progress.' ALSO READ: Northern lights in US: These 13 states to witness aurora today. Here's how you can maximize your viewing experience Bryan Driscoll, an HR consultant, previously told Newsweek: 'Workers should be cautious—not because they're failing to perform, but because many employers remain focused on short-term financial appearances. We're seeing health insurers and government agencies cut jobs under the guise of restructuring or realignment, which often just means reducing headcount to reduce costs.' Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, also weighed in, telling Newsweek: 'There are really two kinds of layoffs happening. On one hand, federal agencies like the Department of Health and Human Services are undergoing significant restructuring as a result of new leadership. This means some roles may be eliminated or merged with others to meet efficiency goals.' "At the same time, we're also seeing health insurers scaling back their workforces. Rising medical expenses paired with those who are insured utilizing their coverage more frequently have some insurers cutting jobs to free up cash in the face of lower revenues."
Yahoo
17 hours ago
- Business
- Yahoo
LinkedIn slashes 281 jobs across California in US
LinkedIn, the Microsoft-owned professional networking platform, has laid off 281 employees across California, according to a WARN document filed with local authorities. The job cuts affect various roles, including engineers, and span multiple locations. It included 159 positions in Mountain View, 60 in San Francisco, 23 in Sunnyvale, 11 in Carpinteria, and 28 remote workers based in the state. The layoffs are part of workforce reductions at Microsoft, LinkedIn's parent company. Recent media reports indicated that Microsoft slashed approximately 6,000 jobs globally, including 122 positions in the Bay Area. A WARN filing, reviewed by SF Gate, revealed that in Mountain View alone 71 software engineering roles, including staff and senior positions, have been eliminated. Other affected roles include specialists in machine learning, DevOps, systems infrastructure, as well as deal desk strategists, product managers, and designers. The filing does not provide details on the full scope of LinkedIn's layoffs or the reasons behind them. In April, Microsoft CEO Satya Nadella noted that AI is responsible for writing up to 30% of the company's code, though no direct connection to the layoffs was confirmed. In 2023, LinkedIn laid off 716 employees, with CEO Ryan Roslansky addressing the decision in a public email. No such communication has been issued this time. According to LinkedIn's 'About Us' page, the company employs between 18,400 and 18,500 full-time staff globally. In November 2023, LinkedIn announced that it reached more than one billion users, as well as announcing new AI features for its paid subscribers. "LinkedIn slashes 281 jobs across California in US" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Newsweek
2 days ago
- Business
- Newsweek
List of Companies Laying Off Employees in June
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Thousands of employees across various industries are expected to be laid off in June. Companies are required to send out a Worker Adjustment and Retraining Notification Act (WARN) notice before implementing mass layoffs. Roughly 138 employers plan to lay off workers in June, according to Why It Matters American workers and businesses have feared economic turmoil, due in part to the fallout from tariffs imposed on virtually every other nation, as well as on unique industries such as steel and aluminum, and foreign automobiles. Layoffs may not directly correlate to the current economic climate, as some companies strive to maximize profits at the behest of the broader workforce. Others attempt to better fulfill demand. A Coca-Cola delivery driver unloads his truck on April 12, 2021, in Lake Oswego, Oregon. A Coca-Cola delivery driver unloads his truck on April 12, 2021, in Lake Oswego, Oregon. Getty Images What To Know Nearly 160 companies will be laying off employees throughout the month of June, exceeding the approximately 130 companies that did so in May. The layoffs will affect multiple industries, including retail, pharmaceutical, food and beverage, airlines, package delivery and more. Layoffs in the workforce vary by company, with some laying off between one and 25 employees; other companies, like U.S. Cellular, have larger cuts planned. The full list, based on WARN notices via includes: Newark Group Air Wisconsin Airlines American Institutes of Research Leidos Holdings Cali Nail Market Wells Fargo Chevron Texaco Saddle Creek Logistics Services Whirlpool Corporation Interstate Management Company LLC S3 Shared Service Solution OTG Management (Terminal 5) SDS Lumber United States Cellular Corporation Confluent Medical Technologies USCC Management Services Pfizer FedEx FEAM Aero Washington Prime Group Vail Corporation Mount McKinley Ardent Mills ImmPact Bio USA Inc., a subsidiary of Lyell Immunopharma Piedmont Athens Regional Medical Center NEP Group True Food Kitchen Benchmark Precision Technologies INOAC Exterior Systems ASRC Federal Professional Services Thrifty Payless (Rite Aid) The Bartell Drug Company (Rite Aid) Rite Aid Corporation Saks Global ActivCare Living Metalco USA International Republican Institute Technoprobe America Blue Cross of Idaho Oxbo International Corporation Primo Brands Chik-fil-A US Arconic Goodwill of the San Francisco Bay CVS Health Corporation Pacific Biosciences of California Right At School McDonald's Restaurant of California Legoland California Resort UPS First Student CYH Manhattan (The Stewart Hotel) Winnebago Industries Kinkisharyo International TEKsystems Graphic Solutions Corsicana Mattress Company Pixelle Specialty Solutions Walmart Jones Lang LaSalle Virtex Enterprises Quickway Transportation Case Paper Co. Davis Express Mental Health Association of New York City (Vibrant Emotional Health) MemorialCare Long Beach Medical Center and Women's Hospital Long Beach Illumina Bronco Wine Company, Bivio Transport and Logistics Company Barrel Ten Quarter Circle INOAC Exterior Systems GMRI (Eddie V's) Morgan Stanley 23andMe SSP America MV Transportation Chevron USA Aramark TC&Js Enterprises, franchise operator of Chick-fil-A Lacroix DRV Cruiser RV Heartland Recreational Vehicles RTX Battelle Fresenius Medical Care Metropolitan Animal Specialty Hospital Cayuga Home for Children (Cayuga Centers) Interstate Hotels (The Roosevelt Hotel) Cherokee Nation Management & Consulting Plug Power AMT Medical (Velocity medtech) Amerant Mortgage YMCA of San Diego B&P Plastics (Advance Plastic) JP Morgan Chase Raytheon Technologies Hy-Vee Fresh Commissary Hy-Vee Chariton Shortcuts Facility Portland Facility Tenneco Lutheran Services in Iowa Feller's CJ Logistics America Centene Management Company The Model Z Modular Adient Novartis Pharmaceuticals Accelerate360 Distribution Thermo Fisher Cardinal NetApp Kaiser Permanente Arvinas Van's Corporate Headquarters Enterprise for Progress in the Community (EPIC) Child Care Associates Sodexo Oracle America The GEO Group Downtown College Preparatory Federal Express Corporation (BTRA Facility) Smurfikt Westrock Facility (Texas) Urban Alchemy tkMomentum Ford, Walker, Haggerty & Behar, LLP St. Vincent's School for Boys Community Action Marin NGM Biopharmaceuticals Pride Industries Elijah House Foundation Center Point Aramark Campus, LLC at the University of Rochester Northern Air Cargo Forte Openings Solutions Chiloquin Facility Sky Zone ERMC Aviation Services Leidos Holdings Dana PULAU Corporation T. Marzetti Cano Health Center for Family & Child Enrichment Building Robotics SSC Services for Education (Muncie Community Schools) Tampa Sportservice TransitAmerica Services Lignetics (Cascade Locks Facility) The Coca-Cola Company CoStar Realty Information Navajo Incorporated, Portland Facility Brinks Bunzl Distribution USA ASM Global Durhan School Services-Wichita Falls Broadway Services BH Security (Brinks Home) Orchid Orthopedic Solutions What People Are Saying James Hohman, director of fiscal policy at the Mackinac Center for Public Policy, told Newsweek: "In America now, the machinists and pharmacists earn twice what machinists do. There are twice as many drivers as metal workers, and driving pays more. Service industries in general pay more than manufacturing in America right now. "The United States has been getting richer; the rich are getting richer, and the poor are getting richer. The United States has more households who are earning more over the past generation; globalization is a part of that." HR consultant Bryan Driscoll previously told Newsweek: "Workers should brace themselves, yes, not because they're underperforming, but because employers are still addicted to short-term balance sheet optics. We're watching health insurers and government agencies slash jobs while claiming they're realigning or restructuring. That's just code for cutting people to cut costs." Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, previously told Newsweek: "It's a tale of two different kinds of layoffs. Federal government entities like the Department of Health and Human Services are going through a dramatic restructuring following the arrival of a new administration, meaning some positions will either be eliminated or combined with other roles for efficiency standards. "At the same time, we're also seeing health insurers scaling back their workforces. Rising medical expenses paired with those who are insured utilizing their coverage more frequently have some insurers cutting jobs to free up cash in the face of lower revenues." What Happens Next Driscoll said companies will continue to cut jobs as a way to prioritize profits, and now the U.S. government has also gotten on board. President Donald Trump announced on May 25 that he would delay imposing planned 50 percent tariffs on trade with the European Union from June 1 to July 9, following a request from European Commission President Ursula von der Leyen.
Newsweek
4 days ago
- Business
- Newsweek
Hundreds of Layoffs Hit Silicon Valley
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Silicon Valley is facing another wave of job losses, as several leading tech companies have announced hundreds of layoffs across the Bay Area, according to recent state filings. The companies involved include LinkedIn, Chegg, and Hewlett Packard Enterprise (HP), which collectively informed the California Employment Development Department (EDD) in May of their plans to eliminate over 400 positions, according to Worker Adjustment and Retraining Notification (WARN) notices. Newsweek reached out to the companies announcing layoffs via email for comment. Why It Matters The latest reductions add to a growing tally of technology job cuts in California this year, signaling persistent workforce instability in a region long seen as the nation's technology powerhouse. The surge in layoffs comes as Silicon Valley's tech sector grapples with shifting business strategies and an accelerating push toward artificial intelligence. What To Know According to official WARN notices, LinkedIn has eliminated over 280 roles in May, including 159 employees from its Mountain View office alone. Educational tech firm Chegg laid off 88 employees in Santa Clara on the same date, May 15. Two weeks earlier, HP implemented 61 job cuts in San Jose. All three companies described the layoffs as permanent in their WARN notices to the California EDD. Reasons were not given alongside the notices, though the companies have in the past defended the need for restructuring to cut costs and improve efficiencies in an increasingly uncertain macroeconomic climate. A LinkedIn office in San Francisco, California, as seen on July 26, 2023. A LinkedIn office in San Francisco, California, as seen on July 26, releasing its first-quarter earnings in May, which revealed a 30 percent year-over-year drop in revenue, Chegg announced that it would cut its headcount by around 22 percent as the company takes "proactive measures to align costs with our business outlook." In its announcement, Chegg also noted the increased adoption of AI by students over traditional education tools. "Language model companies are turning to academia for validation, with OpenAI recently giving college students free access to Chat GPT Plus, and Anthropic launching a free education offering," the company said. Chegg added that it plans to close its physical offices in the U.S. and Canada by the end of 2025. In a filing with the Securities and Exchange Commission (SEC) earlier this week, HP stated that it expects to implement "gross workforce reductions of approximately 1,000 to 2,000 employees" this year, in addition to the 7,000 cuts outlined in its Fiscal 2023 Plan. CFO Karen Parkhill said in a February earnings call that the "incremental structural savings" HP was pursuing would "continue to be a key lever to help offset macro and geopolitical uncertainties while also continuing to fuel investment in our key growth areas and AI innovation." 2025 Layoff Trends and Context The Bay Area layoffs extend beyond these three companies. Technology firms in California announced 17,874 layoffs in the first quarter of the year, according to the Los Angeles Times, including staff cuts at Meta and Google. In May, Microsoft announced nearly 100 layoffs in California, according to WARN notices. This comes amid the company's broader plan to trim its workforce by approximately 3 percent, affecting roughly 6,000 employees. The layoffs announced in May are expected to take effect in July. What People Are Saying A spokesperson for Microsoft, in a statement given to CNBC: "We continue to implement organizational changes necessary to best position the company for success in a dynamic marketplace." Clair Brown, Professor of Economics at UC Berkeley, told Newsweek that California's labor market for recent college graduates was weakening "for a variety of reasons," including the effects of reduced imports from Asia, as well as "the increasing use of AI by employers especially in coding, in marketing, in draft analysis of data, and even routine tasks such as customer inquiries." "The chaos presented by changing economic policies with tariffs is also causing employers to replace job vacancies slowly or not at all," she said, adding: "Over time, I worry that the labor market for early stage professional workers, such as my UCB students, will face declining jobs opportunities as the use of AI becomes widespread." Chegg CEO and President Nathan Schultz said on May 12: "We believe the trends impacting our business will worsen before they get better. We are taking steps to further align costs with our outlook, including an additional restructuring of our business." What Happens Next Despite this trend, the California labor market remains steady. According to the state's latest EDD report, California added 17,700 jobs in April, following 6,800 job losses in March.
