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. (NYSE: PG) revealed Thursday it will eliminate 7,000 jobs over two years, representing 15% of its non-manufacturing workforce, reported CNBC. Microsoft Corp. (NASDAQ: MSFT) cut 6,000 positions globally in May, followed by an additional 300 layoffs this week, totaling approximately 3% of its workforce.
Walmart Inc. (NYSE: WMT) reduced 1,500 positions across technology and e-commerce divisions, while The Walt Disney Co. (NYSE: DIS) cut several hundred employees worldwide from film and television units. Citigroup Inc. (NYSE: 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.