Trump sends out tariff letters, extends levy deadline - what’s moving markets
(Reuters) -U.S. companies across sectors have initiated layoffs as they attempt to streamline operations amid economic uncertainties, following similar cutbacks seen last year.
Job openings — a measure of labor demand — rose 191,000 to 7.391 million by the last day of April, the Labor Department’s Bureau of Labor Statistics said. However, layoffs posted their biggest rise in nine months, signaling that labor market conditions were softening as the Trump Administration’s unpredictable tariff shifts pressure the economic outlook.
Here are some of the companies that have announced job cuts so far in 2025:
Sector Company Layoffs/J % of Total
ob Cuts Workforce
Consumer and Retail
Starbucks (NASDAQ:SBUX) 1,100 0.52%
648 12%
Brown-Forman
Kohl’s (NYSE:KSS) 9,600 10%
Estee 7,000 11.29%
Lauder
Amazon (NASDAQ:AMZN) 1,700 Unknown
full-time
Walmart (NYSE:WMT) 1,500 Unknown
Wayfair (NYSE:W) 730 in Unknown
Germany
Procter &
Gamble 7,000 About 6%
Aviation and Space
Southwest 1,750 15% of
Airlines corporate
roles
Blue 1,400 10%
Origin
Energy and Natural Resources
Chevron (NYSE:CVX) 8,000 20%
290 Unknown
Halliburton (NYSE:HAL)
400 Unknown
LyondellBasell
SolarEdge (NASDAQ:SEDG) 400 Unknown
Technologies
Up to 700 1.70%
Archer-Daniels-Midlan
d
Dow 1,500 4.17%
APA 300 Unknown
Technology and Media
Meta (NASDAQ:META) 5% of Unknown
Platforms "lowest
performer
s"
Microchip (NASDAQ:MCHP) 2,000 9%
Technology
500 5%
CrowdStrike (NASDAQ:CRWD)
Intel (NASDAQ:INTC) Unknown 20%
Match Unknown 13%
Group
Chegg (NYSE:CHGG) 248 22%
Healthcare and Pharma
* UnitedHealth (NYSE:UNH) Unknown Unknown
Bio Rad Unknown 5%
Banking and Finance
*Morgan Stanley About 2% to 3%
2,000
* UnitedHealth was offering employees in its benefits operations unit the option to accept buyouts in February and may pursue layoffs if the resignation quota is not met, according to a CNBC report.
* Morgan Stanley layoffs are aimed at improving operational efficiency and unrelated to current market conditions, a person familiar with the matter told Reuters.