Layoffs 2025: Amazon, Intel, Morgan Stanley Among Companies Cutting Jobs This Year
Following the post-pandemic trend, many companies are planning layoffs in 2025 as they focus on cutting costs and streamlining their operations.
Amazon, Morgan Stanley and Goldman Sachs are among Wall Street heavyweights planning to trim their workforces amid the growing influence of artificial intelligence. These companies are planning layoffs in 2025 to focus on cutting costs and streamlining operations amidst growing uncertainty around US President Donald Trump’s economic policies.
Here’s everything you need to know about the possible layoffs in 2025:
Morgan Stanley
According to Bloomberg, investment banking firm Morgan Stanley will cut about 2,000 jobs later in March, marking a reduction of 3%of its workforce. The trimming may involve roles excluding financial advisers. In 2024, the investment banking giant had a workforce exceeding 80,000 employees.
Amazon
E-commerce giant Amazon is reportedly planning to eliminate approximately 14,000 managerial positions. According to a Morgan Stanley analysis shared in October 2024, the company aims to save around $3 billion annually with this move.
This decision aligns with CEO Andy Jassy's goal of increasing the ratio of individual contributors to managers by 15% by Q1 2025. Amazon has moved to a five-day workweek mandate since January this year, which many argued was the company’s 'backdoor layoff' strategy. This trend is a company’s way of reducing the workforce by reducing flexibility and perks to encourage resignations.
Goldman Sachs
According to Reuters, Morgan Stanley rival Goldman Sachs is planning to eliminate 3-5% of its workforce following its annual performance review.
Intel
Intel's incoming CEO, Lip-Bu Tan, is also looking at an AI strategy overhaul, which will likely impact 'bloated middle management’. The move comes after the company faced a $19 billion loss in 2024. In a recent town hall meeting, Tan warned employees that “difficult choices” would be necessary, indicating potential layoffs, Reuters reported.
Bank of America: Bank of America cut about 150 junior banker roles last week. Most of these employees will be offered roles outside of investment banking.
Workday Inc.: Multiple reports suggest that Workday Inc. is planning to reduce 8.5% of its workforce, impacting about 1,700 employees.
Salesforce: In February, reports came to light that Salesforce would cut over 1,000 jobs in its first mass layoff procedure of 2025.
