Layoffs are piling up, raising worker anxiety. Here are some companies that have cut jobs recently

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Target

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Last week, Target that it would eliminate about 1,800 corporate positions, or about 8% of its corporate workforce globally.

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Target said the cuts were part of wider streamlining efforts _ with Chief Operating Officer Michael Fiddelke noting that “too many layers and overlapping work have slowed decisions.” The retailer is also looking to rebuild its customer base. Target reported flat or declining comparable sales in nine of the past eleven quarters.

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Nestle

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In mid-October, Nestle said it would be cutting 16,000 jobs globally — as part of wider cost cutting aimed at reviving its financial performance.

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The Swiss food giant said the layoffs would take place over the next two years. The cuts arrive as Nestle and others face headwinds like rising commodity costs and U.S. imposed tariffs. The company announced price hikes over the summer to offset higher coffee and cocoa costs.

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Lufthansa Group

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In September, Lufthansa Group said it would shed 4,000 jobs by 2030 — pointing to the adoption of artificial intelligence, digitalization and consolidating work among member airlines.

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Most of the lost jobs would be in Germany, and the focus would be on administrative rather than operational roles, the company said. The layoff plans arrived even as the company reported strong demand for air travel and predicted stronger profits in years ahead.

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Novo Nordisk

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Also in September, Danish pharmaceutical company Novo Nordisk said it would cut 9,000 jobs, about 11% of its workforce.

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Novo Nordisk — which makes drugs like Ozempic and Wegovy _ said the layoffs were part of wider restructuring as the company works to sell more obesity and diabetes medications amid rising competition.

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ConocoPhillips

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Oil giant ConocoPhillips has said it plans to lay off up to a quarter of its workforce, as part of broader efforts from the company to cut costs.

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A spokesperson for ConocoPhillips confirmed the layoffs on Sept. 3, noting that 20% to 25% of the company’s employees and contractors would be impacted worldwide. At the time, ConocoPhillips had a total headcount of about 13,000 — or between 2,600 and 3,250 workers. Most reductions were expected to take place before the end of 2025.

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Intel

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Intel has moved to shed thousands of jobs — with the struggling chipmaker working to revive its business as it lags behind rivals like Nvidia and Advanced Micro Devices.

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In a July memo to employees, CEO Lip-Bu Tan said Intel expected to end the year with 75,000 “core” workers, excluding subsidiaries, through layoffs and attrition. That’s down from 99,500 core employees reported the end of last year. The company previously announced a 15% workforce reduction.

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Microsoft

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In May, Microsoft began began laying off about 6,000 workers across its workforce. And just months later, the tech giant said it would be cutting 9,000 positions — marking its biggest round of layoffs seen in more than two years.

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The latest job cuts hit Microsoft’s Xbox video game business and other divisions. The company has cited “organizational changes,” with many executives characterizing the layoffs as part of a push to trim management layers. But the labor reductions also arrive as the company spends heavily on AI.

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Procter & Gamble

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In June, Procter & Gamble said it would cut up to 7,000 jobs over the next two years, 6% of the company’s global workforce.

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The maker of Tide detergent and Pampers diapers said the cuts were part of a wider restructuring — also arriving amid tariff pressures. In July, P&G said it would hike prices on about a quarter of its products due to the newly-imposed import taxes, although it’s since said it expects to take less of a hit than previously anticipated for the 2026 fiscal year.

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