GITNUXREPORT 2026

Mass Layoff Statistics

Mass layoffs surged across major US industries throughout 2023 and into 2024.

Sarah Mitchell

Senior Researcher specializing in consumer behavior and market trends.

First published: Feb 13, 2026

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Statistic 1

Goldman Sachs cut 3,200 jobs in 2023, 3.5% workforce

Statistic 2

Citigroup announced 20,000 layoffs over 2 years from 2024, 10% cut

Statistic 3

Bank of America laid off 2,200 in 2023

Statistic 4

Morgan Stanley cut 3,000 junior bankers 2023

Statistic 5

Wells Fargo eliminated 500 tech jobs 2023

Statistic 6

JPMorgan Chase cut 1,000 mortgages roles 2023

Statistic 7

BlackRock laid off 600 in 2023 amid market shifts

Statistic 8

Fidelity Investments cut 700 in 2023

Statistic 9

State Street laid off 1,200+ in 2023 restructuring

Statistic 10

BNY Mellon cut 1,000 jobs in 2023

Statistic 11

Deutsche Bank eliminated 3,000 positions 2023

Statistic 12

Credit Suisse laid off 9,000 post-UBS merger 2023

Statistic 13

Barclays cut 300 investment banking jobs 2023

Statistic 14

UBS to eliminate 30,000 jobs from Credit Suisse deal by 2025

Statistic 15

Ally Financial laid off 500 in 2023

Statistic 16

Capital One cut 1,000 tech jobs 2023

Statistic 17

Discover Financial eliminated 150 in 2023

Statistic 18

Synchrony Financial cut 1,100 in 2023

Statistic 19

Navient laid off 1,800 (40%) in 2023

Statistic 20

PG&E laid off 1,800 amid California wildfires restructuring 2024

Statistic 21

UnitedHealth Group cut 5,000 back-office jobs 2023

Statistic 22

CVS Health eliminated 5,000 positions in 2024

Statistic 23

Humana announced 1,500 layoffs in 2024

Statistic 24

Cigna cut 1,600 jobs in 2023

Statistic 25

Walgreens Boots Alliance to cut 10% corporate jobs (1,200+) 2024

Statistic 26

Rite Aid filed bankruptcy, projecting 10,000+ layoffs 2023

Statistic 27

McKesson cut 1,700 jobs in 2023

Statistic 28

Centene to eliminate 2,000 positions 2024

Statistic 29

Molina Healthcare laid off 1,500 in 2024

Statistic 30

Kaiser Permanente cut 500 admin jobs 2023

Statistic 31

Blue Cross Blue Shield of Michigan 1,200 layoffs 2024

Statistic 32

Anthem (Elevance Health) reduced 2,000 roles 2023

Statistic 33

Teladoc Health cut 10% (300) in 2024

Statistic 34

Chewy laid off 245 corporate in 2023

Statistic 35

Disney cut 7,000 jobs (3.6%) in 2023

Statistic 36

Comcast (NBCUniversal) 1,000+ layoffs 2023

Statistic 37

Paramount Global cut 800 in 2024

Statistic 38

Warner Bros. Discovery 1,000 layoffs 2023

Statistic 39

UPS to lay off 12,000 in 2024

Statistic 40

Boeing announced 10% white-collar cuts (17,000 jobs) in October 2024

Statistic 41

Ford planned 3,800 salaried job cuts in 2023

Statistic 42

Stellantis to lay off 400 US workers indefinitely in 2024

Statistic 43

General Motors cut 1,000 salaried jobs in 2023

Statistic 44

Rivian laid off 10% (840 employees) in February 2024

Statistic 45

Lucid Motors cut 400 jobs (18%) in November 2023

Statistic 46

Whirlpool to eliminate 1,000 jobs by 2024 end

Statistic 47

Stanley Black & Decker cut 1,500+ in 2023 restructuring

Statistic 48

Harley-Davidson laid off 200 in 2023

Statistic 49

John Deere cut 500+ in Iowa plants 2023

Statistic 50

Caterpillar announced 300 layoffs in Illinois 2024

Statistic 51

3M to cut 2,000 US manufacturing jobs in 2024

Statistic 52

Carrier Global laid off 700 in Indianapolis 2023

Statistic 53

Kohler cut 448 in Wisconsin 2023

Statistic 54

Kimberly-Clark eliminated 1,000+ positions 2023

Statistic 55

Hasbro laid off 1,100 (20%) in 2023

Statistic 56

Mattel cut 160 salaried jobs 2023

Statistic 57

Newell Brands to cut 1,000+ in 2024

Statistic 58

Brunswick Corp. laid off 200 in Tennessee 2023

Statistic 59

Meta announced 11,000 layoffs in November 2022, 13% of workforce

Statistic 60

Amazon cut 18,000 jobs in January 2023, largest in company history

Statistic 61

Google laid off 12,000 employees in January 2023, 6% of staff

Statistic 62

Microsoft eliminated 10,000 positions in January 2023 amid cloud slowdown

Statistic 63

Twitter (X) fired 3,700 staff post-Musk acquisition in 2022, 50% cut

Statistic 64

Salesforce slashed 8,000 jobs in January 2023, 10% workforce

Statistic 65

Intel announced 15,000 layoffs in August 2024, 15% of employees

Statistic 66

Cisco cut 4,000 jobs in February 2024, 5% of workforce

Statistic 67

Dell Technologies laid off 6,650 in 2023, mostly sales team

Statistic 68

IBM reduced 3,900 jobs in 2023, focusing on HR

Statistic 69

Airbnb cut 1,900 roles in May 2023, 25% of workforce

Statistic 70

Snap Inc. laid off 20% of staff (1,260) in January 2023

Statistic 71

Stripe eliminated 1,100 positions in March 2023, 14% cut

Statistic 72

Roku fired 10% of employees (600+) in September 2023

Statistic 73

Unity Technologies cut 8% staff (830) in November 2023

Statistic 74

Dropbox laid off 20% (500 jobs) in October 2023

Statistic 75

Block (Square) cut 1,000 jobs in November 2023

Statistic 76

Zoom reduced 15% workforce (1,300) in February 2023

Statistic 77

Lyft laid off 1,072 in November 2023, 26% cut

Statistic 78

Pinterest cut 150 jobs in June 2023, 5% workforce

Statistic 79

Reddit laid off 5% (approx 90) in June 2023

Statistic 80

Duolingo cut 10% contractors in 2023

Statistic 81

Spotify eliminated 600 jobs (6%) in January 2023

Statistic 82

Chegg fired 4% (224) in June 2023 amid AI competition

Statistic 83

Workday cut 1,850 in November 2023

Statistic 84

In 2022, US companies announced 1,686 mass layoff events resulting in 216,034 separations, marking a 506% increase from 2021

Statistic 85

January 2023 saw 89,234 job cuts announced in the US, up 143% from December 2022, primarily due to tech sector reductions

Statistic 86

From January to September 2023, US mass layoffs totaled 1,671 events with 452,509 separations

Statistic 87

In 2023 Q1, announced US job cuts reached 248,468, a 367% YoY increase

Statistic 88

BLS reported 2,731 mass layoff events in 2021 with 354,307 separations

Statistic 89

February 2023 US job cuts hit 82,714, driven by retail and tech

Statistic 90

2022 annual US mass layoff initial claims averaged 1.2 million per quarter

Statistic 91

March 2023 announced 167,000+ job cuts in US, highest since 2009

Statistic 92

Q2 2023 US mass layoffs included 511 events with 146,942 separations

Statistic 93

2020 pandemic year saw 10,081 mass layoff events in US with 15.8 million separations

Statistic 94

April 2023 US job cuts announced: 83,619, down from March peak

Statistic 95

2019 US mass layoffs totaled 1,974 events and 248,484 separations

Statistic 96

May 2023: 70,000+ US job cuts, tech leading with 25,619

Statistic 97

Q3 2023: 602 mass layoff events with 178,533 separations per BLS

Statistic 98

2018: 1,119 mass layoff events in US, 137,603 separations

Statistic 99

June 2023 US announced cuts: 77,999 across industries

Statistic 100

2023 YTD through November: 2.6 million job cuts announced in US

Statistic 101

July 2023: 55,000 US job cuts, retail dominant

Statistic 102

Q4 2022 BLS: 1,021 events, 299,591 separations

Statistic 103

August 2023: 42,361 US job cuts announced

Statistic 104

2023 full year projected US job cuts exceed 1.5 million

Statistic 105

September 2023: 35,000+ US cuts, tech rebounding

Statistic 106

2024 January: 83,619 US job cuts, up 205% YoY

Statistic 107

October 2023: 56,000 US announced cuts

Statistic 108

November 2023: 59,999 US job cuts

Statistic 109

December 2023: Record 150,000+ US job cuts in month

Statistic 110

Q1 2024: 238,461 US job cuts announced

Statistic 111

February 2024: 91,541 US job cuts

Statistic 112

March 2024: 222,000 US job cuts, highest March since 2001

1/112

Sources

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While headlines touted a roaring economic comeback in 2022, a staggering 506% surge in mass layoff announcements told a far darker and more human story, one that would only intensify with over 1.5 million job cuts projected for 2023 as tech giants, major banks, and iconic manufacturers all wielded the axe.

Key Takeaways

In 2022, US companies announced 1,686 mass layoff events resulting in 216,034 separations, marking a 506% increase from 2021
January 2023 saw 89,234 job cuts announced in the US, up 143% from December 2022, primarily due to tech sector reductions
From January to September 2023, US mass layoffs totaled 1,671 events with 452,509 separations
Meta announced 11,000 layoffs in November 2022, 13% of workforce
Amazon cut 18,000 jobs in January 2023, largest in company history
Google laid off 12,000 employees in January 2023, 6% of staff
Boeing announced 10% white-collar cuts (17,000 jobs) in October 2024
Ford planned 3,800 salaried job cuts in 2023
Stellantis to lay off 400 US workers indefinitely in 2024
Goldman Sachs cut 3,200 jobs in 2023, 3.5% workforce
Citigroup announced 20,000 layoffs over 2 years from 2024, 10% cut
Bank of America laid off 2,200 in 2023
PG&E laid off 1,800 amid California wildfires restructuring 2024
UnitedHealth Group cut 5,000 back-office jobs 2023
CVS Health eliminated 5,000 positions in 2024

Mass layoffs surged across major US industries throughout 2023 and into 2024.

Financial Services

Goldman Sachs cut 3,200 jobs in 2023, 3.5% workforce
Citigroup announced 20,000 layoffs over 2 years from 2024, 10% cut
Bank of America laid off 2,200 in 2023
Morgan Stanley cut 3,000 junior bankers 2023
Wells Fargo eliminated 500 tech jobs 2023
JPMorgan Chase cut 1,000 mortgages roles 2023
BlackRock laid off 600 in 2023 amid market shifts
Fidelity Investments cut 700 in 2023
State Street laid off 1,200+ in 2023 restructuring
BNY Mellon cut 1,000 jobs in 2023
Deutsche Bank eliminated 3,000 positions 2023
Credit Suisse laid off 9,000 post-UBS merger 2023
Barclays cut 300 investment banking jobs 2023
UBS to eliminate 30,000 jobs from Credit Suisse deal by 2025
Ally Financial laid off 500 in 2023
Capital One cut 1,000 tech jobs 2023
Discover Financial eliminated 150 in 2023
Synchrony Financial cut 1,100 in 2023
Navient laid off 1,800 (40%) in 2023

Financial Services Interpretation

While the headlines may scream of ruthless corporate pruning, a collective chorus of 85,000+ departing finance employees would likely hum a more nuanced tune of industry-wide recalibration, where even the sharpest suits aren't immune to the merciless arithmetic of market pressures and strategic mergers.

Healthcare and Other

PG&E laid off 1,800 amid California wildfires restructuring 2024
UnitedHealth Group cut 5,000 back-office jobs 2023
CVS Health eliminated 5,000 positions in 2024
Humana announced 1,500 layoffs in 2024
Cigna cut 1,600 jobs in 2023
Walgreens Boots Alliance to cut 10% corporate jobs (1,200+) 2024
Rite Aid filed bankruptcy, projecting 10,000+ layoffs 2023
McKesson cut 1,700 jobs in 2023
Centene to eliminate 2,000 positions 2024
Molina Healthcare laid off 1,500 in 2024
Kaiser Permanente cut 500 admin jobs 2023
Blue Cross Blue Shield of Michigan 1,200 layoffs 2024
Anthem (Elevance Health) reduced 2,000 roles 2023
Teladoc Health cut 10% (300) in 2024
Chewy laid off 245 corporate in 2023
Disney cut 7,000 jobs (3.6%) in 2023
Comcast (NBCUniversal) 1,000+ layoffs 2023
Paramount Global cut 800 in 2024
Warner Bros. Discovery 1,000 layoffs 2023
UPS to lay off 12,000 in 2024

Healthcare and Other Interpretation

While corporations tout efficiency from their lofty towers, the relentless culling of jobs across healthcare, media, and logistics reveals a harsh economic truth: the spreadsheet's bottom line often bleeds real people.

Manufacturing Sector

Boeing announced 10% white-collar cuts (17,000 jobs) in October 2024
Ford planned 3,800 salaried job cuts in 2023
Stellantis to lay off 400 US workers indefinitely in 2024
General Motors cut 1,000 salaried jobs in 2023
Rivian laid off 10% (840 employees) in February 2024
Lucid Motors cut 400 jobs (18%) in November 2023
Whirlpool to eliminate 1,000 jobs by 2024 end
Stanley Black & Decker cut 1,500+ in 2023 restructuring
Harley-Davidson laid off 200 in 2023
John Deere cut 500+ in Iowa plants 2023
Caterpillar announced 300 layoffs in Illinois 2024
3M to cut 2,000 US manufacturing jobs in 2024
Carrier Global laid off 700 in Indianapolis 2023
Kohler cut 448 in Wisconsin 2023
Kimberly-Clark eliminated 1,000+ positions 2023
Hasbro laid off 1,100 (20%) in 2023
Mattel cut 160 salaried jobs 2023
Newell Brands to cut 1,000+ in 2024
Brunswick Corp. laid off 200 in Tennessee 2023

Manufacturing Sector Interpretation

This parade of corporate belt-tightening suggests that when CEOs say "we're like a family," they apparently mean the kind of family that holds a dramatic, quarterly purge to decide who gets to stay in the minivan.

Technology Industry

Meta announced 11,000 layoffs in November 2022, 13% of workforce
Amazon cut 18,000 jobs in January 2023, largest in company history
Google laid off 12,000 employees in January 2023, 6% of staff
Microsoft eliminated 10,000 positions in January 2023 amid cloud slowdown
Twitter (X) fired 3,700 staff post-Musk acquisition in 2022, 50% cut
Salesforce slashed 8,000 jobs in January 2023, 10% workforce
Intel announced 15,000 layoffs in August 2024, 15% of employees
Cisco cut 4,000 jobs in February 2024, 5% of workforce
Dell Technologies laid off 6,650 in 2023, mostly sales team
IBM reduced 3,900 jobs in 2023, focusing on HR
Airbnb cut 1,900 roles in May 2023, 25% of workforce
Snap Inc. laid off 20% of staff (1,260) in January 2023
Stripe eliminated 1,100 positions in March 2023, 14% cut
Roku fired 10% of employees (600+) in September 2023
Unity Technologies cut 8% staff (830) in November 2023
Dropbox laid off 20% (500 jobs) in October 2023
Block (Square) cut 1,000 jobs in November 2023
Zoom reduced 15% workforce (1,300) in February 2023
Lyft laid off 1,072 in November 2023, 26% cut
Pinterest cut 150 jobs in June 2023, 5% workforce
Reddit laid off 5% (approx 90) in June 2023
Duolingo cut 10% contractors in 2023
Spotify eliminated 600 jobs (6%) in January 2023
Chegg fired 4% (224) in June 2023 amid AI competition
Workday cut 1,850 in November 2023

Technology Industry Interpretation

The tech giants' great correction of 2022-2024 felt less like a market adjustment and more like a collective, sobering admission that their org charts had become wildly overgrown gardens now in desperate need of a ruthless winter pruning.

US National Trends

In 2022, US companies announced 1,686 mass layoff events resulting in 216,034 separations, marking a 506% increase from 2021
January 2023 saw 89,234 job cuts announced in the US, up 143% from December 2022, primarily due to tech sector reductions
From January to September 2023, US mass layoffs totaled 1,671 events with 452,509 separations
In 2023 Q1, announced US job cuts reached 248,468, a 367% YoY increase
BLS reported 2,731 mass layoff events in 2021 with 354,307 separations
February 2023 US job cuts hit 82,714, driven by retail and tech
2022 annual US mass layoff initial claims averaged 1.2 million per quarter
March 2023 announced 167,000+ job cuts in US, highest since 2009
Q2 2023 US mass layoffs included 511 events with 146,942 separations
2020 pandemic year saw 10,081 mass layoff events in US with 15.8 million separations
April 2023 US job cuts announced: 83,619, down from March peak
2019 US mass layoffs totaled 1,974 events and 248,484 separations
May 2023: 70,000+ US job cuts, tech leading with 25,619
Q3 2023: 602 mass layoff events with 178,533 separations per BLS
2018: 1,119 mass layoff events in US, 137,603 separations
June 2023 US announced cuts: 77,999 across industries
2023 YTD through November: 2.6 million job cuts announced in US
July 2023: 55,000 US job cuts, retail dominant
Q4 2022 BLS: 1,021 events, 299,591 separations
August 2023: 42,361 US job cuts announced
2023 full year projected US job cuts exceed 1.5 million
September 2023: 35,000+ US cuts, tech rebounding
2024 January: 83,619 US job cuts, up 205% YoY
October 2023: 56,000 US announced cuts
November 2023: 59,999 US job cuts
December 2023: Record 150,000+ US job cuts in month
Q1 2024: 238,461 US job cuts announced
February 2024: 91,541 US job cuts
March 2024: 222,000 US job cuts, highest March since 2001

US National Trends Interpretation

While the numbers for the past few years tell a chaotic story of corporate whiplash, the sobering truth is that the American worker has been riding a relentless rollercoaster of mass layoffs, where the only predictable part seems to be the frequency of the dips.

Sources & References

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