Type: downsizing

Uber (UBER) Reduces Workforce in People Division by 23% to Streamline Operations

06/03/2026, 05:31 PM economy downsizing

Uber is reducing its workforce in the people division by 23% as part of a strategy to enhance operational efficiency under new leadership. This move reflects broader trends in the industry where companies are streamlining operations amid advancements in artificial intelligence.

Wix (WIX) CEO Avishai Abrahami announces 20% workforce reduction due to AI evolution and currency exchange challenges

05/28/2026, 02:33 PM economy downsizing

Wix is reducing its workforce by approximately 20% due to the rapid advancement of AI technologies and challenges posed by currency exchange rates, which are impacting its operational capabilities.

Intuit to Reduce Workforce by Approximately 17% Amid Slowing Growth

05/20/2026, 08:33 PM economy downsizing

Intuit is reducing its workforce by approximately 17% in response to slowing growth, a move that reflects broader challenges in the tax software market. This decision is significant as it highlights the company's efforts to streamline operations amid changing economic conditions.

Standard Chartered to Reduce Over 15% of Corporate Functions Roles by 2030 to Enhance Profitability

05/19/2026, 05:32 AM business downsizing finance

Standard Chartered's decision to reduce over 15% of its corporate functions workforce by 2030, while aiming for higher profitability targets, signals a strategic shift to enhance income per employee and return on equity, which could positively impact its financial performance and investor confidence.

Meta to Lay Off Approximately 8,000 Employees as Part of Workforce Reduction Amid Increased AI Investments

05/18/2026, 12:35 PM economy downsizing ai tech

When Meta CEO Mark Zuckerberg told employees about his plan in late 2022 to lay off 11,000 employees, in cuts that would later expand to 21,000, he was contrite in admitting that he overhired during the Covid pandemic.

Starbucks (SBUX) Announces Layoffs of 300 U.S. Employees and Closure of Regional Support Offices as Part of Turnaround Strategy

05/15/2026, 01:33 PM business downsizing

Starbucks has announced a new round of layoffs, cutting 300 jobs in the U.S.

Detroit Automakers Cut Over 20,000 Salaried Jobs Amid AI Expansion

05/15/2026, 12:34 PM business downsizing auto

The expansion of artificial intelligence (AI) is significantly impacting employment within the U.S.

General Motors (GM) Announces Layoffs of 500-600 Employees Amid Workforce Reevaluation and AI Integration

05/12/2026, 06:35 PM business downsizing auto

General Motors (GM) recently laid off approximately 500 to 600 employees, primarily in information technology roles located in Austin, Texas, and Warren, Michigan.

General Motors (GM) Announces Layoffs of Hundreds of IT Employees as Part of Cost-Cutting Measures

05/12/2026, 12:34 PM economy downsizing

This is CNBC's Morning Squawk newsletter.

General Motors (GM) Lays Off Hundreds of IT Employees Amid Cost-Cutting Measures

05/11/2026, 05:31 PM business downsizing

General Motors is laying off approximately 500 to 600 salaried employees in its information technology division as part of a broader effort to reassess workforce requirements and reduce costs.