FACTBOX-Corporate America continues job cuts in 2026 in efficiency push
March 16 (Reuters) - The start of the year has seen massive layoffs across U.S. companies as they streamline operations amid rising adoption of artificial intelligence tools.
Meta Platforms META.O is planning significant layoffs that could affect 20% or more of the company, Reuters reported exclusively last week, citing three sources familiar with the matter, as the social media giant seeks to offset the massive spending required to compete in generative AI.
Tech giant Amazon AMZN.O said late in January that it was cutting 16,000 roles worldwide in the second major round of job cuts at the company in three months.
Here are some of the U.S. companies that have announced job cuts so far in 2026:
Sector | Date of Announcement | Company | Job Cuts | % of Total Workforce | Notes |
Technology | |||||
| January | Pinterest PINS.N | Less than 780 | Less than 15% | Reallocating resources to artificial intelligence-focused roles and strategy |
| January | Autodesk ADSK.O | About 1,000 | Roughly 7% | Aiming to redirect spending to the cloud platform and artificial intelligence efforts |
| January | Meta META.O | 10% of employees in the Reality Labs division | Unknown | Shifting focus to wearables from some virtual reality products |
| January | Amazon AMZN.O | Roughly 16,000 | Target of 30,000 jobs represents nearly 10% of the corporate workforce | Part of the broader goal of trimming some 30,000 corporate workers |
| January | Angi ANGI.O | Roughly 350 | Unknown | AI-driven efficiency improvements |
| February | Washington Post | Unknown | A third | Shrinking news coverage |
| February | Workday WDAY.O | Unknown | About 2% | Realigning resources towards top priorities |
| February | C3.ai AI.N | About 307 | 26% | Restructuring under the new CEO to improve operating efficiency |
| March | Atlassian TEAM.O | Roughly 1,600 | 10% | CEO says company's actions reflect efforts to self-fund further investment in AI and enterprise sales |
| March | Meta Platforms META.O | Expected to affect roughly 15,800 or more, according to Reuters calculations | 20% or more | To offset costly artificial infrastructure bets and prepare for greater efficiency brought on by AI-assisted workers, Reuters reported exclusively |
Consumer and Retail | |||||
| January | Home Depot HD.N | 800 | Unknown | Part of its goal to improve efficiency |
| January | Nike NKE.N | 775 | Unknown | Consolidating operations footprint |
Resources | |||||
| January | Dow DOW.N | 4,500 | 13% | Restructuring aimed at lifting profitability by at least $2 billion |
| January | Tronox TROX.N | 550 in China | Unknown | Fuzhou pigment plant closure due to weak Chinese domestic demand and increasing costs |
Manufacturing | |||||
| January | FedEx FDX.N | Up to 500 in France | Unknown | Overhauling France operations and trimming station footprint |
| January | United Parcel Service UPS.N | Up to 30,000 | Unknown | Reducing low-margin Amazon delivery volumes |
| January | Peloton Interactive PTON.O | Unknown | 11% | Cost cuts amid turnaround efforts |
Finance | |||||
| January | *Citigroup C.N | About 1,000 | Unknown | Part of previously announced plan to shed 20,000 jobs by 2026 |
| January | Mastercard MA.N | Unknown | About 4% | Refocusing investments in other areas |
| February | Gemini Space Station GEMI.O | Up to 200 | About 25% | Winding down some international operations to support path to profitability |
| February | Block XYZ.N | Over 4,000 | Nearly half | CEO Jack Dorsey said AI is allowing the company to build and run the business with fewer people |
| March | Morgan Stanley MS.N | About 2,500 | 3% | Cuts affect all three divisions at the bank and are based on individual performance and broader strategy |
Meta plans to cut around 10% of the employees in its Reality Labs division who work on products including the metaverse, according to a New York Times report
Nike is laying off 775 employees, primarily impacting distribution center roles in Tennessee and Mississippi, a source familiar with the matter told Reuters
*Citigroup will cut about 1,000 jobs as part of a plan announced two years ago to reduce the workforce by 20,000, a source familiar with the matter told Reuters
Morgan Stanley has cut about 3% of its workforce, or roughly 2,500 employees, across all divisions, a person familiar with the matter told Reuters
