Global companies to cut jobs in 2025

Several large companies are preparing for significant job cuts in 2025. This includes Amazon, Morgan Stanley, and Goldman Sachs. The main reasons for these layoffs are the rise of artificial intelligence (AI) and ongoing economic uncertainties. Amazon plans to eliminate about 14,000 managerial positions. This change aims to save the company around $3 billion each year. CEO Andy Jassy wants to increase the number of individual contributors compared to managers by 15 percent. This follows Amazon's recent switch to a five-day workweek, which many employees think may encourage voluntary resignations. Morgan Stanley will lay off about 2,000 employees, which is 3 percent of its workforce. These cuts are expected later in March and will likely not include financial advisers. The company had over 80,000 employees in 2024 and is looking to restructure its operations. Goldman Sachs is also planning to reduce its workforce by 3 to 5 percent after their annual performance review. Additionally, Intel is expected to restructure under new CEO Lip-Bu Tan, who has indicated that "difficult choices" may be necessary, potentially impacting middle management positions. Bank of America recently let go of around 150 junior bankers but offered most affected individuals other roles outside of investment banking. Meanwhile, Workday is looking to cut 8.5 percent of its workforce, which means nearly 1,700 jobs could be lost. More companies may announce similar cuts in the near future due to the uncertain economic climate.