Corporate America is experiencing a surge in layoffs as companies respond to economic pressures from President Donald Trump's tariff policies and artificial intelligence adoption reshaping workforce needs.

What Happened: Procter & Gamble Co. (PG  ) revealed Thursday it will eliminate 7,000 jobs over two years, representing 15% of its non-manufacturing workforce, reported CNBC. Microsoft Corp. (MSFT  ) cut 6,000 positions globally in May, followed by an additional 300 layoffs this week, totaling approximately 3% of its workforce.

Walmart Inc. (WMT  ) reduced 1,500 positions across technology and e-commerce divisions, while The Walt Disney Co. (DIS  ) cut several hundred employees worldwide from film and television units. Citigroup Inc. (C  ) announced 3,500 job cuts in China, primarily affecting IT services.

Microsoft's CFO Amy Hood recently told investors the company was focused on "building high-performing teams and increasing our agility by reducing layers with fewer managers." CEO Satya Nadella had earlier indicated that between 20% to 30% of the company's code was now being written using AI tools.