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Companies laying off staff this year include Meta, Amazon, and Visa — see the list

A Verizon store in New York.
Verizon is one of the latest companies to announce job cuts.

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  • Companies including Meta, Amazon, and Visa have said they're trimming staff this year.
  • Many firms, like Wix, have cited the rise of AI as a reason they need fewer staff.
  • See the list of companies letting workers go in 2026.

More than 40 companies have laid off employees so far in 2026, continuing the trend of significant workforce reductions across a broad range of industries, including tech, media, finance, and retail.

Some, including Block, Coinbase, and Standard Chartered, have cited the impact of artificial intelligence as a key reason for the layoffs.

Target, meanwhile, is shifting resources from its supply chain into stores as part of the new CEO's turnaround strategy to improve the shopping experience and return to growth.

More than 100 other companies have filed legally mandated WARN notices about job cuts to come in 2026, according to WARN Tracker. Some of the cuts are part of previously announced reductions.

The moves come as artificial intelligence, public policy, and broader economic conditions are driving sweeping changes in the business landscape.

A World Economic Forum survey last year found that some 41% of companies worldwide expected to reduce their workforces in the next five years because of the rise of artificial intelligence. The survey also found that jobs in big data, fintech, and AI are expected to double by 2030.

Last year, Business Insider tracked layoffs at around 65 major companies, including Amazon, Meta, Paramount, and Starbucks. In 2026, we'll continue to track additional job cuts based on company announcements, WARN notices, and our own reporting.

Here are the companies with job cuts underway in 2026, listed in alphabetical order.

Amazon is laying off thousands of employees
Amazon sign

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Amazon said in January that it would eliminate around 16,000 corporate roles globally.

Beth Galetti, senior vice president of people experience and technology, described the January move in a company memo as part of broader efforts to cut back on bureaucracy inside the company.

The cuts followed mass layoffs from October 2025, when the tech and retail giant shed 14,000 roles.

In May, Amazon's Selling Partner Services team slashed additional jobs as it continued to reshape its organization.

"Following a recent review, we've made the difficult decision to eliminate a relatively small number of roles in our Selling Partner Services team," a spokesperson told Business Insider.

Angi is cutting 350 jobs
An Angie's List printed publication for 2021 sits on a stack of magazines and other printed materials.

Donald King/AP

Angi, the popular contractor listing site once known as Angie's List, said in January that it was cutting around 350 jobs "to reduce operating expenses and optimize the organizational structure in support of long-term growth." The company also said it's making the cuts "in light of AI-driven efficiency improvements."

In a January 7 SEC filing, Angi said that the cuts would save between $70 million and $80 million in annual spending. The layoffs will cost the company between $22 million and $30 million, according to the filing.

Atlassian is cutting 1,600 employees
Atlassian
Atlassian

Thomas Fuller/SOPA Images/LightRocket via Getty Images

Atlassian, the enterprise software company and maker of Confluence, said on March 11 that it will be cutting about 10% of its workforce as it invests in AI to reshape its organization.

CEO Mike Cannon-Brookes said in a statement that about 1,600 employees will be affected by the cuts.

"We fundamentally believe people and AI create the best outcomes. Our approach is not 'AI replaces people,'" Cannon-Brookes said. "But it would be disingenuous to pretend AI doesn't change the mix of skills we need or the number of roles required in certain areas. It does."

The company expects to incur $225 million and $236 million in restructuring charges, according to an SEC filing.

Barclays cuts 5,000 jobs
NEW YORK, NEW YORK OCTOBER 21: People pass by Barclays PLC (BCS) headquarters on October 21, 2026. in New York City. Barclays shares (BCS) have gained approximately 218.5% over the past three years, as investors assess whether the bank's earnings justify its share price. (Photo by KHemaz/GVN via Getty Images)

KHemaz/GVN via Getty Images

Barclays, the British financial institution, disclosed plans to cut around 5% of its workforce.

Anna Cross, the Group Finance Director of Barclays, said on an October 22 earnings call that the company expects more than GBP 1 billion in efficiency savings in 2027, which will involve reducing its head count by 5,000 full-time employees.

Cross said that 60% of affected workers are related to "support functions, including fewer developers as AI makes our people more productive."

The company reported Q3 pretax profit of GBP 2.3 billion — about $3 billion — up 12% from the same quarter a year earlier.

Barclays CEO, C.S. Venkatakrishnan, said that the company is moving to "drive even greater cost efficiency through deep technological transformation, reducing the unit cost of product, manufacturing, service and innovation."

British American Tobacco cuts 9,000 jobs
The logo of company British American Tobacco is displayed on a smartphone in front of abstract background on tablet screen.

Illustration by Timon Schneider/SOPA Images/LightRocket via Getty Images

British American Tobacco said it will cut 9,000 jobs by the end of the year, about one-fifth of its workforce. The cuts will not impact the US arm of its business.

"We are building a future-ready organisation that is more agile, cost disciplined and technology enabled," CEO Tadeu Marroco said in the statement.

The company, whose cigarette portfolio includes brands like Lucky Strike and Dunhill, has stepped up its push in recent years into smoke-free alternatives, such as nicotine pouches and vapes.

Citi's job cuts continue this year
Citibank logo
Citibank will continue to cut jobs in 2026.

Kevin Carter/Getty Images

Citi will cut more jobs this year as part of its plan to reduce its workforce by 10%, or 20,000 employees.

In a statement on January 13, the bank said that it will continue to reduce head count in 2026.

"These changes reflect adjustments we're making to ensure our staffing levels, locations and expertise align with current business needs," a spokesperson for Citi said.

The plan was detailed in the company's January 2024 earnings report and could save the bank as much as $2.5 billion.

Cloudflare lays off 20% of its global workforce
This photograph taken on January 21, 2026 shows signage of the Cloudflare logo during the World Economic Forum (WEF) annual meeting in Davos. The World Economic Forum takes place in Davos from January 19 to January 23, 2026. (Photo by INA FASSBENDER / AFP via Getty Images)

INA FASSBENDER / AFP via Getty Images

Cybersecurity company Cloudflare on May 7 said it plans to cut roughly 20% of its global workforce, affecting more than 1,100 employees.

In an internal memo, Cloudflare executives said the company's use of AI has climbed more than 600% over the past three months, and that the rapid shift has forced the company to reconsider its structure.

"We want to be clear that this decision is not a reflection of the individual work or talent of those leaving us," Cloudflare executives wrote in the May 7 memo. "Instead, we are reimagining every internal process, team, and role across the company."

The company's shares fell more than 14% in extended trading following the announcement.

Coinbase is cutting 14% of staff
Coinbase CEO Brian Armstrong
Coinbase CEO Brian Armstrong.

Bloomberg/Getty Images

The CEO of Coinbase, Brian Armstrong, said in a letter to staff on May 5 that 14% of its staff would be cut, largely because of AI.

"AI is changing how we work. Over the past year, I've watched engineers use AI to ship in days what used to take a team weeks," wrote. "The pace of what's possible with a small, focused team has changed dramatically, and it's accelerating every day."

Armstrong said this would mean fewer layers and faster decisions in the company. No pure managers, he said — all leaders will now be required to get stuck in and "get their hands dirty."

"AI is bringing a profound shift in how companies operate, and we're reshaping Coinbase to lead in this new era," he added.

Crypto.com laid off 12% of its workforce
Crypto.com CEO Kris Marszalek is pictured.

Marco Bello/Reuters

Crypto.com CEO Kris Marszalek said in March that the company laid off 12% of its workforce, including "roles that do not adapt in our new world."

"Companies that move immediately and pair the best AI tools with top-performers will achieve a level of scale and precision that was previously impossible," Marszalek wrote in a post on X. "This is where we must go."

Dell cut 10% of its workforce
Dell logos

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Dell cut its workforce by 10% for the third year in a row, the company said in its annual filing with the SEC.

As of January 31, 2026, the company had 97,000 employees, down 11,000 from the same time last year. The decline includes both layoffs and attrition, Business Insider reported.

eBay is expected to lay off 6% of its employees
eBay app

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eBay is set to eliminate about 800 jobs globally, making up 6% of its workforce. The company told Business Insider that it's taking steps to better align with its strategic priorities.

"We are grateful for the contributions of the employees impacted and are committed to supporting them with care and respect," a company spokesperson said in a statement.

Epic Games is cutting 20% of its workforce
Man in suit
Tim Sweeney, CEO of Epic Games

Philip Pacheco/Getty Images

Epic Games, the company behind Fortnite, said in March that it would lay off more than 1,000 people — about 20% of its workforce — as engagement with the game declined.

CEO Tim Sweeney said in a memo that the layoffs "aren't related to AI."

"To the extent it improves productivity, we want to have as many awesome developers developing great content and tech as we can," Sweeney said.

Estée Lauder is deepening its cuts, now to as many as 10,000 roles
Shoppers gather at an Estée Lauder store at the Sanya International Duty Free Shopping Complex, also known as CDF Mall, on March 5, 2026 in Sanya, Hainan Province, China.

Cheng Xin/Getty Images

Estée Lauder said in its May earnings report that it will deepen its previously announced cuts, which are now expected to affect up to 10,000 jobs.

More than two-thirds of the reductions are in cashier and demonstration roles at lower-performing retail and department stores.

Etsy
Etsy logo
Etsy announced on Wednesday that it was laying off 220 employees.

illustration by Cheng Xin/Getty Images

Etsy said August 5 that it is laying off about 220 employees, roughly 12% of its workforce.

"We will be saying goodbye to approximately 220 colleagues across the company, with most of the changes concentrated in Product & Engineering," the company's CEO, Kruti Patel Goyal, told staffers in a memo.

The company also reported its second-quarter financial results on Wednesday.

While Goyal's memo made no mention of AI or its potential threat to jobs, she said that the cuts were a preemptive move.

"The answer is that today's decisions aren't a reflection of this quarter or even this year, but of where Etsy needs to go next," she wrote.

Expedia laid off some employees
Expedia Group
Expedia said it was cutting some roles but the scope of the cuts was unclear.

Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images

Expedia confirmed to Business Insider that it had laid off some employees on January 26 and had also posted new job openings. It's unclear how many of its workers were affected by the cuts.

"We are eliminating roles as well as opening some new roles as we remain disciplined about assessing the skills we need for the future," an Expedia Group spokesperson said in a statement. "We are also simplifying our structure and reducing organizational layers to move faster and with more accountability. These are not easy decisions, and we are grateful for the contributions of our colleagues who are impacted."

Freshworks is cutting 11% of staff
Freshworks app
Freshworks is cutting staff

Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images

The San Mateo, California-based software company said in its early May earnings report that it would cut 11% of its staff in the second quarter. The company had about 4,500 employees at the end of 2025.

The cuts aim "to streamline the Company's organizational efforts and product development process" and increase AI across the company, according to the filing.

On an earnings call, CEO Dennis Woodside said about half the company's code comes from AI.

"Like many other software companies, that is definitely changing how we build products, how fast we can build products, and the amount of people that we need to build products," he said.

The company's stock slumped 35% from May 2025 to May 2026.

General Motors is axing 600 salaried employees
Workers in the automobile assembly production line at SAIC General Motors Dongyue Base in HuangBohai New Area in Yantai, Shandong, China in April 2026
GM is overhauling its tech workforce to prioritize AI and software expertise.

credit should read CFOTO/Future Publishing via Getty Images

General Motors is cutting 600 salaried employees from its global IT division.

A spokesperson said the layoffs would enable it to "better position the company for the future," by ensuring GM has employees with expertise in AI-native development, data engineering, analytics, cloud engineering, prompt engineering, and AI workflows.

GoPro is laying off 145 employees
GoPro logo
GoPro is cutting 23% of its staff to cut costs.

Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images

On April 7, GoPro said it would lay off about 145 employees as it tries to cut operating costs and restructure operations.

The layoffs make up 23% of its global headcount of 631 employees, the camera maker said in a regulatory filing.

The cuts will start in the second quarter of the year and will largely be completed by the end of 2026. The restructuring is expected to result in a charge of $11.5 million to $15 million.

The company cut about 15% of its staff in August 2024 to cut costs.

Groupon is reducing up to 400 positions globally
Groupon app

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Groupon said on May 21 that it would cut up to 400 roles globally as part of a restructuring plan, according to a financial filing. It previously said it planned to rebuild as an "AI-native company."

The cuts are expected to happen by the end of the third quarter of 2026. Groupon is looking to generate $10 million to $12 million in gross savings in 2026.

"Up to half of this year's savings will be reinvested into AI infrastructure, talent density, and the tools and teams building the next version of the company," a spokesperson told Business Insider.

Groupon had 1,734 employees worldwide at the end of 2025, according to its annual report.

Heineken has a multi-year plan to reduce its workforce
Heineken logo on building with autumnal trees in front of it.

RAMON VAN FLYMEN/ANP/AFP via Getty Images

Heineken is cutting 5,000 to 6,000 roles over the next two years to boost productivity and bring down costs, according to its latest full-year earnings report.

The company told Business Insider that the divisions and regions where the layoffs are due to take place are yet to be confirmed.

Heineken said in its 2025 report that it faced "subdued consumer sentiment" in the Americas, alongside a "challenging year" for brewers in Europe.

Intuit is laying off 17% of its workforce
In this photo illustration, a person holds a smartphone displaying the logo of Intuit Inc.
Intuit said it's laying off 17% of its workforce.

illustration by Cheng Xin/Getty Images

Financial software company Intuit announced on May 20 that it would be cutting 17% of its full-time workforce.

The company shared a memo from CEO Sasan Goodarzi to employees that listed five reasons for the culling, including reducing management layers, focusing roles on "high impact work," and closing down two of its offices.

"These changes are a necessary evolution to reduce complexity and architect an organization that operates with the velocity required to fuel our growth engines," Goodarzi wrote in the memo, shared in a blog post on Intuit's website.

Laid-off employees in the US would receive 16 weeks of base pay, plus two additional weeks of pay for every year they have worked at Intuit.

The company said in a May 20 earnings report that restructuring costs from the layoffs would be about $300 million to $340 million.

Kenvue cuts 3.5% of workforce
Tylenol acetaminophen caplets are displayed for sale at a Costco Wholesale store on November 13, 2025 in Simi Valley, California.
Kenvue will be laying off 3.5% of its workforce.

Kevin Carter/Getty Images

Consumer healthcare brand Kenvue, which produces Tylenol, plans to cut 3.5% of its staff. Kenvue had about 22,000 employees globally, per its latest annual report.

The company wrote in a mid-February SEC filing that its board aimed to reduce complexity and drive operational efficiencies.

The company's layoffs and restructuring efforts are expected to cost $250 million in 2026, per the filing.

LinkedIn is laying off staff and 'scale back' other investments
LinkedIn logo

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LinkedIn CEO Daniel Shapero told employees on May 13 that it was laying off employees, and those in affected roles would receive a calendar invite. The jobs included positions in the Microsoft-owned company's Global Business Organization, marketing, engineering, and product teams.

"We need to reinvent how we work, with agile teams focused on our highest priorities, and by shifting investments toward areas such as infrastructure to fulfill our mission and vision over the long term," Shapero said in the memo.

Shapero also said LinkedIn would "scale back" investments in areas like marketing campaigns, customer events, and underutilized office space.

Lululemon laid off 100 part-time employees at its customer service center
Lululemon store

John Keeble/Getty Images

The athleisure giant said it laid off 100 part-time employees to "strengthen the business." The affected roles are in the company's North American contact center.

"After careful consideration, we have made the decision to transition our North America GEC to a full-time employee staffing model. As a result, approximately 100 part-time positions in our GEC have been impacted," a Lululemon spokesperson said.

Meta lays off workers at Reality Labs and other divisions
The Meta Quest 3s, the standalone virtual reality headset developed by Reality Labs, a subdivision of the American company Meta Platforms, is exhibited at the Qualcomm pavilion during the Mobile World Congress 2025 in Barcelona, Spain, on March 5, 2025. (Photo by Joan Cros/NurPhoto via Getty Images)

Joan Cros/NurPhoto via Getty Images

Meta began laying off employees across multiple teams on March 25, including Reality Labs, Facebook, recruiting, sales, and global operations.

The cuts come as the company ramps up spending on AI infrastructure and talent, alongside broader cost-cutting efforts. Meta said the changes are part of ongoing restructuring to better align teams with company goals, while exploring other roles for affected employees where possible.

Meta first began preparing to slash jobs within its Reality Labs division, the unit responsible for Mark Zuckerberg's metaverse ambitions, in January, three people familiar with the matter told Business Insider at the time.

Two employees said that teams working on virtual reality headsets and Horizon Worlds, the company's VR social network, would be disproportionately affected.

Meta has shifted away from virtual reality in recent years in favor of spending hundreds of billions of dollars on beefing up its AI capabilities.

Nike laid off workers in two rounds
Nike logo on wall

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Nike is cutting roughly 1,400 jobs, mostly from tech, as part of a broader push to streamline operations and revive growth.

In a memo to staff on April 23 obtained by Business Insider, Chief Operating Officer Venkatesh Alagirisamy said the layoffs are tied to the company's "win now" turnaround plan, which focuses on improving culture, product, marketing, marketplace strategy, and in-person retail. He described the effort as entering its "final stretch."

This is Nike's second layoff in 2026. Nike said on January 26 that it planned to lay off 775 employees across Tennessee and Mississippi, citing efforts to "streamline" its distribution center operations.

"We are sharpening our supply chain footprint, accelerating the use of advanced technology and automation, and investing in the skills our teams need for the future," Nike said in a statement to Business Insider.

Oracle's headcount fell 13% in a year
Oracle signage near the company's offices in Redwood City, California, US.

Bloomberg/Getty Images

Oracle's workforce shrank by roughly 21,000 employees, or 13%, over the past year, bringing its headcount to 141,000 as of May 31, according to a 10-K filing released on June 22.

"The adoption and deployment of AI technologies across our operations have resulted, and may continue to result, in reductions to our workforce," Oracle wrote in the filing.

Oracle also disclosed that restructuring costs surged in fiscal 2026. The company spent $1.84 billion on severance and other exit costs, up from $374 million in the prior year.

The reduction in workforce comes as Oracle continues to invest heavily in AI infrastructure.

Papa Johns is restructuring
A Papa Johns location in Texas
Papa Johns said it will be closing 300 stores over the next two years, including 200 in 2026.

Brandon Bell/Getty Images

Papa Johns said it is laying off 7% of its corporate staff amid a broader restructuring.

The pizza chain said it will also close 300 locations in North America through 2027, starting with 200 this year.

"Optimizing our restaurant portfolio and strategically closing underperforming restaurants are among the most impactful actions we can take to improve restaurant profitability and fleet health," Papa Johns CFO Ravi Thanawala said during the company's fourth quarter earnings call on February 26.

Patreon, a creator economy company, laid off 20% of staff in July
Patreon

Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images

Patreon announced layoffs in July.

The creator economy company is laying off 93 employees — roughly 20% of the company — per a memo its CEO, Jack Conte, shared publicly.

Conte wrote that the "market in which we operate has undergone profound change over the last 6 months," and that Patreon needs to cut costs to "remain a stable, dependable rock for our creators."

Pinterest is expected to lay off 15% of its workforce
Pinterest sign

INA FASSBENDER / AFP via Getty Images

Pinterest announced a global restructuring plan that includes layoffs affecting less than 15% of its workforce, according to a January securities filing. The cuts come with reductions in office space.

"We are making organizational changes to further deliver on our AI-forward strategy, which includes hiring AI-proficient talent," a Pinterest spokesperson said.

"As a result, we've made the difficult decision to say goodbye to some of our team members. We are grateful for their service and supporting them with separation packages and benefits," they added.

Saks laid off 16% of its corporate staff, among other job cuts
Saks sign

ANGELA WEISS / AFP via Getty Images

Saks Global, the beleaguered parent company of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman, conducted several rounds of layoffs as it closed stores and trimmed its corporate staff

In April, the company cut about 16% of its corporate staff, representing less than 4% of its total workforce.

"Following the strategic actions we've taken to secure long-term financial stability, sharpen our focus on luxury and full-price selling, optimize our operational footprint, and exit non-core businesses, we are right-sizing our corporate organization to align with our go-forward strategy," a Saks spokesperson told Business Insider.

The cuts followed Saks's closure of dozens of stores and fulfillment centers in the first quarter, resulting in layoffs.

Saks filed for Chapter 11 bankruptcy in January.

Sprout Social cut 20% of staff — about 260 employees
The Sprout Social logo appears on a phone screen.
Sprout Social announced plans to lay off about 260 employees, or about 20% of its staff, citing rapid changes in the industry driven by AI.

Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images

Sprout Social — a social media management program — announced on July 15 that it will cut 260 jobs, or about 20% of its workforce.

In a letter about the reduction in force, CEO Ryan Barretto said the cuts were due to rapid industry changes.

"This decision is not a reflection of their talent or commitment," Barrett said. "We made this decision because we believe it was the right one for Sprout's future. Our industry, and software more broadly, is changing quickly, and the way companies need to operate and invest has changed with it."

Affected staff will be offered a 12-week severance package, plus an additional week of pay for every year of tenure, fully-paid health benefits for six months, and a cash payment equal to the value of their equity shares that would have vested in the next 90 days.

Standard Chartered plans to eliminate 15% of corporate functions over the next 4 years
Standard Charteres sign

Cheng Xin/Getty Images

Standard Chartered plans to cut 15% of corporate function roles over the next four years, the company said on May 19.

The bank, headquartered in London, credited AI as a driver for the reductions.

"It is not cost-cutting, but it is replacing, in some cases, lower-value human capital with the financial capital and the investment capital that we are putting in," CEO Bill Winters said in a media briefing, Reuters reported.

The company added in a statement: "We are combining the best human talent with AI, investing to support our people into higher-value roles."

T-Mobile cut some jobs
T-Mobile store

Al Drago/Getty Images

T-Mobile cut some staff in early 2026, though the scope of the layoffs is unclear. Some workers posted on LinkedIn saying they'd been affected by the changes in January.

"As the next step in our evolution, we're making some changes while continuing to hire to ensure we have the right focus, structure, and momentum to keep changing the industry through innovation and our long-standing focus on customers," T-Mobile told Business Insider in a statement.

Tailwind cut 3 of its 4 engineers
Typing on computer screen

Krongkaew/Getty Images

Tailwind, a popular web tool, said it cut three of its four engineers in January, citing an AI-driven decline in revenue.

"75% of the people on our engineering team lost their jobs here yesterday because of the brutal impact AI has had on our business," CEO Adam Wathan wrote in a GitHub comment on January 6 that made waves in the tech community.

Target is cutting 500 roles from its distribution and regional offices
Inbound trucks are unloaded at the loading docks.
Inside a Target regional distribution center in Wisconsin.

Dominick Reuter/Business Insider

Target confirmed to Business Insider in February that it would cut 100 district office roles and 400 supply chain positions. It plans to invest instead in additional labor hours at stores to improve the shopping experience and return to growth.

The store improvement effort is a signature priority of the retailer's new CEO, Michael Fiddelke, who started on February 1.

In November, Fiddelke said the company intends to invest an additional $1 billion in capital expenditures for 2026, an increase of 25% from 2025.

TikTok lays off 250 employees
A phone with the logo of the TikTok app lies on an open book
A phone with the logo of the TikTok app lies on an open book

Juliane Sonntag/Photothek via Getty Images

TikTok is laying off 250 employees and closing an office in Nashville, according to documents filed with the Department of Labor and Workforce Development in Tennessee.

A spokesperson for TikTok US Data Security, a joint venture established in January 2026 to oversee TikTok's US operations, said closing the office will "streamline our operations and better align our teams for long-term growth."

The Nashville office will close in October, according to the documents.

UPS said it will eliminate 30,000 jobs
A dark brown UPS truck sits parked on a street as steam rises from a manhole next to it and a pedestrian walks by on the sidewalk wearing headphones and holding a smartphone.

Gary Hershorn/Getty Images

UPS CEO Brian Dykes told analysts during the company's fourth-quarter earnings call that the company plans to reduce its operational workforce by 30,000 in 2026.

"This will be accomplished through attrition, and we expect to offer a second voluntary separation program for full-time drivers," Dykes said.

He told analysts that the company has identified 24 buildings for closure in the first half of 2026 and will continue to evaluate additional buildings for closure.

Verizon is selling 274 retail stores, affecting about 3,000 workers
A Verizon store in New York.

Bloomberg/Getty Images

Verizon said in July that it would transition 274 retail stores into franchise locations as part of ongoing changes at the telecom giant.

The company said about 2,500 retail workers and 500 corporate roles would be cut, and that typically around 70% of store employees accept jobs under the new franchisees.

The move comes two months after Verizon laid off several hundred corporate employees, or about 1% of its head count, as the company reallocates workers across its overall business.

Walmart said it would cut or relocate 1,000 corporate jobs
A Walmart store is seen on February 03, 2026 in Austin, Texas.

Brandon Bell/Getty Images

Walmart told employees on May 12 that it would cut or relocate about 1,000 corporate jobs to address redundancies and duplicate roles.

Suresh Kumar, Walmart's chief technology and development officer, and Daniel Danker, executive vice president of AI acceleration, product, and design, announced the changes in a memo.

"We've made changes to simplify how the work is organized, make ownership clearer, and better align roles to the work and skills we need going forward," the memo said.

The move follows Walmart's May 2025 decision to cut 1,500 corporate roles as part of an effort to "remove layers and complexity."

The company employed 2.1 million people as of January.

WiseTech is cutting 30% of its workforce
Wisetech logo on smartphone screen
Wisetech is cutting 2,000 jobs.

Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images

Logistics software maker Wisetech is cutting 2,000 jobs, or 30% of its staff, citing AI-driven efficiency gains.

In a conference call on February 25, CEO Zubin Appoo embraced AI and said that it means more productivity, in less time, and from fewer employees. The Sydney-based company employed about 7,000 people, according to its annual report released in October.

"I am prepared to say this clearly: the era of manually writing code as the core act of engineering is over," Appoo said. AI is "unlocking levels of efficiency gains across WiseTech that were previously out of reach."

Wix CEO said the company is set to cut 20% of its workforce
Wix logo on phone

Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

Wix, which provides website-building software, is reducing its workforce by 20%, the CEO told employees in a memo published on X on May 28.

The Israel-headquartered company employs about 5,300 workers.

CEO Avishai Abrahami cited the "fast evolution of AI capabilities" as a reason for the cuts and said the company needed to become a "faster, leaner, and flatter organization."

Workday is cutting jobs
Workday logo

Dado Ruvic/REUTERS

Workday is cutting about 400 jobs, and said on February 4 that the move will help the enterprise software company redirect resources toward priority areas.

The layoffs will primarily affect customer-facing roles that are "non-revenue generating," Workday said in a regulatory filing.

The cuts represent roughly 2% of its workforce and are expected to result in about $135 million in charges in the fiscal fourth quarter, which ended in January.

Workday announced a larger round of layoffs about a year ago, citing the need to invest more heavily in strategic areas such as AI. The company reported about 20,600 employees as of late October.

Visa is cutting roughly 7% of its workforce
A stack of Visa credit cards.
Visa is also cutting thousands of workers, the company confirmed.

Andrew Harrer/Bloomberg via Getty Images

Global payment technology company Visa confirmed to Business Insider that it's cutting about 2,600 jobs.

That's roughly 7% of the company's employee footprint.

"To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work," CEO Ryan McInerney wrote to staff in an internal memo, according to Bloomberg. "AI is also helping to accelerate this evolution and shape the way work gets done at Visa."

Zillow cut 500 employees
Zillow branded exhibition booth with blue house-shaped displays and visitors inside a large indoor event space.
Zillow said it was cutting 500 roles.

Julia Beverly/Getty Images

Zillow CEO Jeremy Wacksman announced on August 4 that the company was cutting 500 employees as part of "organizational changes."

As of December, Zillow had around 7,000 employees, so the changes are affecting about 7% of its workforce.

"These changes are about ensuring we have a disciplined cost structure and getting more efficient, with the right people in the right positions," Wacksman said in a blog post.

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I sold my apartment, cashed out my pension, and took on debt to build a semiconductor startup. I'd do it again.

20 October 2026 at 05:51
Hans Hasselby-Andersen, CEO of Lotus Microsystems.
Hans Hasselby-Andersen spent nearly a year raising his first funding after leaving Texas Instruments during the financial crisis.

Hans Hasselby-Andersen/Lotus Microsystems

  • Hans Hasselby-Andersen quit Texas Instruments during the 2008 financial crisis with four young kids at home.
  • He sold his apartment, cashed out his pension, and took on debt to build a semiconductor startup.
  • Nine years later, his company, Merus Audio, was acquired by Infineon.

This as-told-to essay is based on a conversation with Hans Hasselby-Andersen, 56, CEO of Danish semiconductor startup Lotus Microsystems and cofounder of Merus Audio, which was acquired by Infineon in 2018. The following has been edited for length and clarity.

When I quit my job at Texas Instruments in September 2008 to start a semiconductor company, I had four children between the ages of 5 and 14.

It was almost the height of the financial crisis. You had Lehman Brothers going down in flames in the US, and the whole credit market was just freezing up.

So to jump out at that point and go into fundraising was a big, big step. My manager was looking at me like I was crazy, basically.

Thinking back, probably I should have waited a year or so and just cooled off a little bit. But the thing is, once you have an idea and you're really motivated, you can't really wait. You have to go do something about it.

I'm an electrical engineer by training. Earlier in my career, I joined a small startup that was acquired by Texas Instruments about five or six months after I arrived.

The whole concept of a company being acquired, an exit and all that, was all new to me.

It planted a seed in my head that, if the circumstances were right, this was also a path I could take, and not just build my career in a large company.

I stayed at Texas Instruments and worked in the audio semiconductor business.

I was picking up things from my interactions in the market where I thought there was actually a need for a much more energy-efficient way to drive speakers in products like portable speakers and soundbars.

I saw a market need, but I didn't have the technical solution, so my first task was to go out and find a cofounder who could come up with a technical solution for that market.

I think that's actually quite unusual for tech startups. Normally, somebody comes up with some technology, and then they go out and try to see where it can be applied. This was the opposite approach.

Four kids, one big decision

Just before I resigned, I called my bank and asked if I could get a basic bank overdraft facility just to give me some extra headroom to live on.

Honestly, I think if I had waited two weeks, I wouldn't have gotten it. It was just when the financial crisis started to really kick in, and I seriously doubt I would've gotten that line of credit.

Getting the first funding took the better part of a year.

I probably spoke to between 50 and 100 different investors.

It's really a dating game. You try to look appealing and interesting from a company point of view, but you mostly get rejections because the investor doesn't invest in your domain, you're too early, you're too late, or you don't fit their profile.

I paid out of my own pocket to travel to Japan, South Korea, and Singapore to meet potential customers. I wanted to pressure-test my idea, understand what they were struggling with, what their requirements were, and help mature my business case.

Eventually, I raised the equivalent of about $150,000 to $200,000. It was a very small amount, and we spent it in about six months. The minute we got the funding, we knew we had to continue fundraising immediately.

My wife, who was a school teacher at the time, has been very, very supportive. She never told me, "This is a stupid idea, go back and find a job."

With four kids, you can't just make that decision on your own. When we finally got the company off the ground, my wife and I made some adjustments to minimize the risk for my family.

We sold our apartment while we could still make a little money from it and rented instead, so we wouldn't risk having to sell at a loss if the company failed. We also sold our car and leased one instead.

I slaughtered my pension and took out the money. I thought, "I need it now. I'm not about to be retired anyway."

Throughout the life of a startup company, you're more or less in fundraising mode all the time. You always have to keep your eye on how long you have cash and where you're going to get your next funding. The worst thing that can happen is that you run out of cash.

If there's one recommendation I would give first-time founders, it's to prepare for things to take longer than they expect because they always do.

If you think you can do something in two years or three years, multiply that by two, at least.

If you plan financially for your cash to fund your plan as you lay it out, then you're going to be in a difficult situation because you're going to run out of cash before you've achieved the milestones you set out to achieve.

Engineers have to sell, too

Starting a company around 40 made me a different kind of founder. There were definitely things I had learned that I wouldn't have been without.

I had learned how to communicate with customers, how to find out what the market needed, and how to explain what I was doing and why it was a good idea.

Many engineers are obviously good at what they do technically, but they can have a big challenge explaining that to others.

When you're standing in front of investors, you have three minutes to explain what you're doing. You have to train to do that elevator pitch.

Nine years later, the company I cofounded, Merus Audio, was acquired by Infineon.

I stayed on to help with the integration, but I was really not looking to go back into the corporate world. I had already had that experience and I had really come to like the startup life.

Today, I'm CEO and an investor at Lotus Microsystems, another semiconductor startup.

I'm not a founder this time, but I feel ownership. I feel invested in the company.

Would I take that same risk again today as I did with Merus?

I think the answer is yes.

If you have that mentality of wanting to try something on your own, to build something, that is a major driver inside you. It gives you an enormous amount of energy and motivation.

When you do that, you can actually achieve a lot.

Read the original article on Business Insider

Singapore's iconic skyline is shrouded in a fire-related haze. Here's what it looks like across the island.

16 October 2026 at 08:13
A man wears a mask as the Singapore skyline is shrouded in haze on October 15, 2026.
Smoke from fires in neighboring Indonesia has blanketed Singapore in haze, disrupting daily life across the city-state.

Joseph Nair/NurPhoto/Getty Images

  • Smoke from fires in Indonesia has blanketed Singapore in haze, obscuring its iconic skyline.
  • Air pollution hit its highest level this year on Friday, reaching "very unhealthy" levels.
  • The haze has disrupted flights, shuttered outdoor sports facilities, and canceled a run for nearly 3,000.

Singapore, the Southeast Asian financial hub known for its futuristic skyline, has been blanketed by milky haze as smoke from fires in neighboring Indonesia drifts across the region.

The haze has affected Singapore for weeks, with conditions deteriorating in recent days. The pollution has disrupted flights, shut down outdoor sports facilities, and prompted organizers to call off a major running event.

On Friday, air quality in parts of Singapore reached "very unhealthy" levels, with pollution readings hitting their highest point this year.

Here's what the haze looks like across the city.

Singapore's landmark skyline fades into the haze
Haze in Singapore October 2026 view of MBS

Aditi Bharade

Marina Bay Sands, the three-towered hotel overlooking Singapore's waterfront, has been shrouded in a milky haze.

Singapore's environmental agency said winds were carrying smoke from fires in Indonesia's Kalimantan region toward the city-state.

Pollution has hit its highest level this year
Singapore's skyscraper is enveloped in smog, 16 october 2006 from the forests fire in Indonesia.

Roslan Rahman/AFP/Getty Images

On Friday, air quality across much of Singapore reached the "very unhealthy" range on the country's Pollutant Standards Index.

At that level, authorities recommend avoiding prolonged or strenuous outdoor activity.

The PSI has been in the unhealthy range since October 5, making it 12 days of poor air in the city.

The last time things looked this foggy in Singapore was during a 14-day period of hazy conditions in 2015. The country has seen shorter episodes of haze conditions in 2019 and 2023, but those blew over within a couple of days.

The haze is affecting air travel
A cleaning truck drives past airplanes parked on the tarmac at Changi Airport in Singapore on October 16, 2026, as the country continues to be shrouded in haze caused by fires in Indonesia. .

Yuichi Yamazaki/AFP/Getty Images

Poor visibility has disrupted flights at Singapore's smaller Seletar Airport, leading to diversions and cancellations.

Both Seletar and the country's main international airport, Changi, remain operational.

Nearly 3,000 runners have had their plans canceled
The Flower Dome, Cloud Forest and Marina Bay Sands are seen in Singapore on October 15, 2026, as the country continues to be shrouded in haze caused by fires in Indonesia.

Felin Lim/AFP/Getty Images

The ISCA Run, scheduled for Saturday at Gardens by the Bay, was canceled because of the haze, affecting almost 3,000 registered participants.

An ISCA spokesperson told Business Insider that organizers made the call early because air conditions remained unpredictable and they were concerned about the safety of runners, including young children taking part in the Family Run.

The pollution is keeping people indoors
A general view shows buildings shrouded with haze in Singapore on October 9, 2026

Roslan Rahman/AFP/Getty Images

Singapore's public sports operator temporarily closed all outdoor and non-air-conditioned sports facilities it manages across the island on Friday because of the haze.

Indoor, air-conditioned facilities have remained open.

Read the original article on Business Insider

Jamie Dimon says AI is moving so fast that even governments can't stop it

16 October 2026 at 06:28
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during a fireside chat.
JPMorgan Chase CEO Jamie Dimon sees enormous potential for AI but has warned about its cybersecurity risks.

Luke Johnson/Bloomberg/Getty Images

  • Jamie Dimon says AI is advancing so fast that even governments can't stop its global spread.
  • The JPMorgan CEO likened AI to a tsunami, saying it could transform how future generations live and work.
  • Dimon also warned that AI agents could expose banks and critical infrastructure to cyber risks.

Artificial intelligence is advancing so rapidly that even governments would struggle to stop its spread, JPMorgan Chase CEO Jamie Dimon said.

Speaking at The Economic Club of Chicago on Wednesday, Dimon compared AI to the Industrial Revolution but said it was advancing far faster than earlier technologies, with new capabilities emerging in a matter of weeks.

"This is doing stuff today that no one would have imagined was possible literally five weeks ago," Dimon said.

"It's more like a tsunami. It's rolling through the system, and you can't stop some of it," he added.

With AI models proliferating worldwide, including open-source systems and those developed in China and other countries, governments cannot simply halt the technology's spread, Dimon said.

The acceleration comes amid an unprecedented AI spending boom. Google, Amazon, Microsoft, and Meta planned to spend more than $700 billion on capital expenditures this year, much of it on AI infrastructure.

Dimon, too, was optimistic about the potential payoff. He said AI could drive breakthroughs in medicine, transportation, and productivity, transforming how future generations live and work.

"Thirty years from now, they'll probably be working four or three and a half days a week. They'll have an income of per person of $300,000. It'll be a great life," he said.

However, Dimon also warned that AI agents could carry out cyberattacks around the clock or pose security risks when given access to bank accounts to make payments on users' behalf.

"That means they are in your bank and you're assuming they're going to act properly on your behalf and they may not," Dimon said.

He said businesses and governments needed to move quickly to address the cybersecurity risks posed by AI.

"You can't stop it. You just have to, like, manage the hell out of it."

Dimon's statement comes the same week that multiple bankers sounded warnings about rogue AI agents and their capacity to unleash chaos if allowed to proliferate unchecked.

Bank of America CEO Brian Moynihan also told analysts in a Wednesday earnings call that the institution had hired 1,000 external consultants to shore up software vulnerabilities that top tier models like Anthropic's Mythos exposed.

Read the original article on Business Insider

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